Displaying items tagged: Priority Health
Michigan health insurers keeping preventative care coverage despite Texas court ruling
Priority Health and several other health plans in Michigan intend to maintain full coverage for preventative care for now.
Health insurers worry ‘miracle treatments’ will drive up coverage costs
An emerging new generation of cell and gene therapies has insurers concerned about the effect on the cost of health coverage.
Priority Health nearly tripled earnings in 2022, bucking industry trends
GRAND RAPIDS — Priority Health nearly tripled earnings in 2022, although how that may affect upcoming rate proposals for next year is unclear for now.
Corewell Health operations buck national trend to remain profitable for 2022
GRAND RAPIDS — Corewell Health’s operations finished 2022 in the black despite escalating costs for labor, supplies and drugs, but the health system reported an overall net loss as the market deeply affected the performance of its investments.
Health plan expands care network to West Michigan with new Corewell Health contract
‘Time will tell’ whether new Sparrow contract boosts Priority Health’s Lansing market share
The new contract with Sparrow Health System provides an opportunity for Priority Health to carve out a much larger presence in the Lansing-area market, although growth may not come easily.
New contract with Sparrow Health deepens Priority Health’s Lansing-area presence
A new contract with Sparrow Health in Lansing fills a notable hole in Priority Health’s care network across the Lower Peninsula.
PASSING MUSTER: Insurers control destiny of medical innovators like BAMF Health
GRAND RAPIDS — The advanced medical technology behind BAMF Health Inc.’s new Grand Rapids clinic offers great promise in diagnosing and treating cancer.
Individual health insurance costs would increase 6.2% on average under proposals
Individuals who buy their own health insurance would pay an average of 6.2 percent more for coverage next year under insurance carriers’ recent rate filings with state regulators.
New state law aims to boost competition for health insurance as large employers seek coverage for workers
Gov. Gretchen Whitmer has signed legislation that is designed to better enable large employers to bid out their employee health coverage.
MiBiz Growth Report: June 6, 2022
Here is the MiBiz Growth report for June 6, 2022:
Major insurers seek 2023 rate increases; small businesses see ‘rough few years’
Michigan’s two largest health insurers again seek to raise small business rates for 2023 as medical claims rise and pandemic-related costs are considered for the first time.
Spectrum Health 2021 income dropped as health systems combatted COVID-19 case surges, staff shortages
GRAND RAPIDS — Spectrum Health recorded a smaller bottom line for 2021 as health systems nationally were ailing from COVID-19 case surges and staff shortages that drove up labor costs.
People in the News: April 25, 2022
Here is the MiBiz People in the news report for April 25, 2022
People in the news: March 14, 2022
Here is the MiBiz People in the news report for March 14, 2022
Health insurers prepare to shift course, factor COVID costs into rates
Costs to test, treat and vaccinate members for COVID-19 drove sharp earnings declines last year for Priority Health and Blue Cross Blue Shield of Michigan, and both intend to work ongoing pandemic-related expenses into their rate requests for next year.
Spectrum-Beaumont merger creates SE Mich. market share opportunity for Priority Health
The recent merger between Spectrum Health and Beaumont Health creates the potential for Priority Health to make deeper inroads in the Southeast Michigan health insurance market.
Health plan leader sees more attention needed on behavioral health, preventative care
Praveen Thadani describes his first year as president of Priority Health as “simply exceptional.” In January, he joined the Grand Rapids-based Priority Health — the second-largest health plan in Michigan with 1.1 million members.
Spectrum Health to spend $117M on pay, bonuses to combat staffing woes
GRAND RAPIDS — Spectrum Health plans to spend $117 million in the coming months on higher pay and bonuses to help retain and attract workers amid a widespread health care industry staffing shortage.
Report: Michigan ranks nearly last in U.S. for health insurance competition
Michigan now ranks as the second-least competitive market in the nation for health coverage, a status that stems from Blue Cross Blue Shield of Michigan’s long-held position as the leading insurer in the state.
CHANGING THE GAME: Insurance industry embraces AI to drive outcomes, cut costs
With the emergence of artificial intelligence over the last decade, insurers’ painstaking work to identify trends and analyze data increasingly has become automated.
Medical claims trends, prescription drug costs drive higher insurance rate proposals
Driven by higher medical claims trends, insurance rates for small business and individual health policies would increase significantly in 2022 compared to recent years under rate proposals before state regulators.
Former Spectrum CFO sees no ‘compelling reason’ for merger with Beaumont
Spectrum Health’s former chief financial officer was “stunned” when he learned about the health system’s proposed merger with Beaumont Health, and doubts the plan will achieve the intended goals.
Priority Health portal designed to resolve tension between insurers, physicians
As state lawmakers consider more controls over prior authorizations that health insurers require before covering certain medical care, Priority Health has launched a new system designed to make the process easier for physicians.
Spectrum, Beaumont follow health consolidation trend
The proposed merger between Spectrum Health and Beaumont Health could add fuel to the years-long trend of consolidation in the health care industry.
Spectrum Health, Beaumont Health plan blockbuster merger
GRAND RAPIDS — Spectrum Health, which was created through a merger more than two decades ago and went on to become West Michigan’s largest health care provider, intends to merge with Southfield-based Beaumont Health.
Priority Health exec Marti Lolli named CEO of Utah-based health plan
GRAND RAPIDS — Marti Lolli, an executive at Priority Health for more than two decades, will depart this summer to become president and CEO of SelectHealth, a 950,000-member health plan in Salt Lake City, Utah.
Health insurers face ongoing pandemic complexities when setting future rates
Small businesses can expect larger increases in their health insurance premiums in 2022 than in recent years, even without costs associated with responding to the COVID-19 pandemic figured into the equation.
Spectrum Health financials steady through pandemic as outlook shifts for hospitals
GRAND RAPIDS — Spectrum Health maintained a solid financial performance for 2020 as the COVID-19 pandemic stressed operating margins at hospitals nationwide.
Priority Health, Blue Cross earnings highlight volatile 2020 for health insurers
The yearlong COVID-19 pandemic drove down earnings last year at West Michigan’s major health insurance providers.