Two of New York’s leading nonprofit health care companies are teaming up to improve the quality, experience, and affordability of care for residents across the state.
CDPHP and The Lifetime Healthcare Companies, the parent company of Excellus BlueCross BlueShield and Univera Healthcare, in May announced plans to form an affiliation that will allow the health insurers to maintain their local brands and identities while gaining economies of scale through shared technologies, systems, processes, and resources as part of one corporate family.
If the affiliation is approved by state and federal regulators, The Lifetime Healthcare Companies would become the parent company of CDPHP, Excellus BCBS and Univera Healthcare.
“As we celebrate 40 years of CDPHP delivering high-quality, affordable health care — and as I mark 16 years of leading this great organization — it gives me tremendous pride to announce our plans to partner with The Lifetime Healthcare Companies,” said CDPHP president and CEO John D. Bennett. “It was important for us to partner with a not-for-profit health plan that shares in our mission of driving better health outcomes, increasing member satisfaction, and controlling the rising cost of care in the combined communities we serve.”
CDPHP, Excellus BCBS and Univera Healthcare are nonprofit, mission-driven organizations whose names are synonymous with quality, according to a news release. “Working together, they will combine resources, leverage best practices, and develop new and innovative ways to improve the quality, affordability, and experience of care for millions of New Yorkers. If the affiliation receives regulatory approval, each plan will remain local and highly responsive to the unique needs of their respective communities,” according to the news release.
“I’m excited to partner with CDPHP to work together on quality, affordability, and access to health care in our respective regions,” said Jim Reed, The Lifetime Healthcare Companies president and CEO. “I have a tremendous amount of respect for the reputation CDPHP has built in the Capital Region and the work of the health plan. It just makes sense to partner with such a trusted, mission-driven not-for-profit whose culture aligns so closely to ours.”
CDPHP and The Lifetime Healthcare Companies have announced their intent to affiliate with the appropriate government agencies.
The boards of directors of CDPHP and The Lifetime Healthcare Companies unanimously approved the affiliation.
While the plans await regulatory approval, services will continue as usual for members, providers, employers, and strategic partners.