Payer Roundup—Harvard Pilgrim reports 7% revenue increase in 2018

A dollar sign created by Monopoly game houses is surrounded by Monopoly money. Dice and the car token appear next to the dollar sign as well.
Harvard Pilgrim reported a 7% increase in revenue for 2018, plus more insurance news from around the web. (Getty Images/martince2)

Harvard Pilgrim reports 7% revenue increase in 2018

Harvard Pilgrim HealthCare reported a net income of more than $80 million in 2018 and an increase in revenue of 7%.

The results were surprising after a net loss of $8.7 million in 2017.

Harvard Pilgrim Chief Financial Officer Charley Goheen attributed the success to strong regional performances and higher-than-expected revenue by subsidiaries Health Plans Inc., TrestleTree and MedWatch. (Announcement)

Conference

13th Partnering with ACOS & IDNS Summit

This two-day summit taking place on June 10–11, 2019, offers a unique opportunity to have invaluable face-to-face time with key executives from various ACOs and IDNs from the entire nation – totaling over 3.5 million patients served in 2018. Exclusively at this summit, attendees are provided with inside information and data from case studies on how to structure an ACO/IDN pitch, allowing them to gain the tools to position their organization as a “strategic partner” to ACOs and IDNs, rather than a merely a “vendor.”

Cigna CEO regrets putting stamp on Anthem deal

In 2015, Cigna CEO David Cordani publicly backed the merger with rival health insurer Anthem. However, Cordani now regrets supporting the deal, which reduced his role in the company, lawyers for Anthem said in court this week.

While investors walked away with a 30% premium for their stock in Anthem’s buyout, Cordani lost his role to then-Anthem CEO Joseph Swedish. 

Cordani later expressed in emails “remorse about making the decision,” lawyers said. A federal judge blocked the deal, ruling it anticompetitive, in 2017. Cigna and Anthem are still battling over which company owes the other for billions of dollars in damages from the collapse of the deal. (Bloomberg)

Advocates push for Medicaid expansion in Texas

Close to two dozen Texas organizations held a rally on Monday in support of Medicaid expansion in the state.

Texas is the state with the largest number of uninsured people and the highest uninsured rate, and advocates say that expanding its Medicaid program would cover an additional 1 million people or more. The groups want to see expansion become a ballot measure.

Medicaid expansion, even if approved by voters, would likely face an uphill battle in the state's Republican-dominated legislature. (Houston Chronicle)

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