Overview
It is likely that your system or hospital has recently been contacted by a firm urging you to partner with them to gain access to part of a substantial settlement associated with a recent court decision against Blue Cross and Blue Shield. In light of this, HAP has presented a session to educate C-suite leaders about the case, hospital options, recovery potential, and timing so you are positioned to make the best decisions for your organization.
Sean Zabaneh, Esq., Duane Morris Chair of Healthcare Litigation and HAP Counsel, reported on the recent $2.8 billion proposed settlement for providers in connection with the In re Blue Cross Blue Shield antitrust litigation. In what would be the largest payment in a health care antitrust case, Blue Cross Blue Shield (BCBS) on October 14, 2024, agreed to pay this amount to a class of hospitals, physician groups, and other health care providers. In addition to the monetary amount, the proposed settlement includes incremental transparency and accountability measures, including the creation of a systemwide information platform to facilitate benefits, verify eligibility, and track claims. It also gave providers incrementally more contracting opportunities with BCBS insurers.
The presentation provided background on the lawsuit against the Blues, an overview of the proposed settlement, and most importantly, a detailed explanation of what providers need to know in order to decide whether to participate in the settlement or opt-out of the settlement to pursue additional damages. All hospitals and health systems have a potential interest in the settlement fund and alternatives to the settlement fund, so it is important to know your rights and options.
This webinar recording is complimentary to HAP general members and is only available for a limited time! Register before December 31.