Independence Blue Cross and Jefferson Health recently signed a long-term renewal of their contract, effective on Jan. 1.
“This long-term contract renewal is a significant and positive step forward in our work with Jefferson Health,” Gregory E. Deavens, Independence Blue Cross president and CEO, said. “It acknowledges the near-term cost pressures that certain health systems are facing right now and increases our ability to find innovative ways to work together on value-based initiatives that keep costs down for our members and customers.”
Independence Blue Cross, a subsidiary of Independence Health Group, an independent licensee of the Blue Cross and Blue Shield Association, serves Philadelphia and southeastern Pennsylvania.
The contract includes Einstein Healthcare Network and Jefferson Health New Jersey. The agreement also extends Jefferson Health’s participation in Independence’s Total Value of Care value-based care program.
The companies have been working together since 2017 to deliver well-coordinated and team-based care and share accountability for the quality and cost of care. They are co-investing in innovative care approaches that could increase cost efficiency in the system, fix health care inequities, break down barriers to care and improve health outcomes.
The companies participate in Accelerate Health Equity, an initiative to combat health inequities across the Philadelphia region.