BUSINESSCareFirst pumps up nonprofit commitmentThe Maryland-based insurer, once dead set on going for-profit, now says it's rewarding physicians and launching community-minded initiatives.By Robert Kazel, amednews staff. Feb. 21, 2005. Nearly two years after CareFirst BlueCross BlueShield's quest to become a for-profit company was strongly rebuffed by state authorities, the health plan announced it planned to pump $92 million into various long-term initiatives to buttress what it now calls its "not-for-profit mission" -- including new quality incentives for participating physicians. CareFirst said it had started recruiting physician groups to join the bonus program, which will be part of the Bridges to Excellence organization launched by several large national employers in 2003. The program will pay $50 per year per CareFirst member to medical groups that attain certain performance standards, including development of medical records-keeping systems. Owings Mills, Md.-based CareFirst will spend $3.6 million on the program between now and 2007, including about $1.2 million this year, said company spokesman Jeff Valentine. The initial pilot phase will include several large primary care physician groups in Maryland, the District of Columbia and northern Virginia, he said. CareFirst also said will keep down increases in patient premiums by lowering its 2005 operating earnings target by at least $60 million. Furthermore, the company announced it has allotted more than $40 million over the next few years for prescription drug assistance for low-income senior citizens, insurance coverage assistance for difficult-to-insure residents of Washington, D.C., and for improvements in hospital intensive care and the reductions of racial and ethnic health disparities. [...]Full text of American Medical News content is available to AMA members and paid subscribers.
Copyright 2005 American Medical Association. All rights reserved.
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