Displaying items tagged: Priority Health

Priority Health and several other health plans in Michigan intend to maintain full coverage for preventative care for now.

An emerging new generation of cell and gene therapies has insurers concerned about the effect on the cost of health coverage.

GRAND RAPIDS — Priority Health nearly tripled earnings in 2022, although how that may affect upcoming rate proposals for next year is unclear for now.

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.

Anew deal with Corewell Health West extends Lansing-based Physicians Health Plan’s care network into West Michigan.

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.

A new contract with Sparrow Health in Lansing fills a notable hole in Priority Health’s care network across the Lower Peninsula.

GRAND RAPIDS — The advanced medical technology behind BAMF Health Inc.’s new Grand Rapids clinic offers great promise in diagnosing and treating cancer.

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.

Gov. Gretchen Whitmer has signed legislation that is designed to better enable large employers to bid out their employee health coverage.

Here is the MiBiz Growth report for June 6, 2022:

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.

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. 

Here is the MiBiz People in the news report for April 25, 2022 

Here is the MiBiz People in the news report for March 14, 2022

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.

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.

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.

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.

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.

With the emergence of artificial intelligence over the last decade, insurers’ painstaking work to identify trends and analyze data increasingly has become automated. 

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.

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.

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.

The proposed merger between Spectrum Health and Beaumont Health could add fuel to the years-long trend of consolidation in the health care industry.

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.

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.

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.

GRAND RAPIDS — Spectrum Health maintained a solid financial performance for 2020 as the COVID-19 pandemic stressed operating margins at hospitals nationwide.

The yearlong COVID-19 pandemic drove down earnings last year at West Michigan’s major health insurance providers.