Hospital chain to buy Blue Cross of Ohio
Hospital chain to buy Blue Cross of Ohio
Columbia/HCA Healthcare Corporation, the nation’s largest for-profit hospital, has agreed to buy the main business of Blue Cross and Blue Shield of Ohio.
Health care consumers, employers, and providers are concerned about the influence that such an alliance would have. Many are concerned that the needs of patients could possibly be hurt by pressures from shareholders seeking profits and that cost savings would be emphasized over care, according to an article in The New York Times.
"The bottom line is: Will these combinations with hospitals improve the quality and types of healthcare, or will it just have an impact on price?" says Vincent Kaval, a principal in Cleveland with the Medimetrics Group, a consulting firm.
Dan Moen, a senior executive of Columbia/HCA, says the combination would "bring together the needs of the patient, physician, and payer to improve results for all." He adds that the merger would set new standards for quality, cost-effective care.
Under the deal, Blue Cross would turn over the policies that cover 1.5 million Ohio residents to a new subsidiary of Columbia/HCA which would be headed by Kent Clapp, the current COO of Ohio Blue Cross and Blue Shield.
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