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MEDFORD, Ore. — More than 260,000 Regence insurance members will regain access to critical care following months of negotiations between giant Oregon healthcare service providers, Providence Health & Services, and Regence. The new agreement was reached over the weekend.
In a statement, Regence announced that it had worked with Providence on a new scale of sustainable reimbursement rates for its members. The partnership between the two was jeopardized when Providence said it would have to introduce higher fees to keep abreast of rising healthcare costs. Regence argued that the new price scale was unsustainable and would cost them $144 million annually.
Providence Medford Medical Center Opens Doors to Regence Patients
The Providence Medford Medical Center is again accepting Regence BlueCross BlueShield insurance members, forming part of a system-wide agreement by Providence with Regence reached over the weekend.
The announcement was welcomed by thousands of Oregon Regence insurance holders whose continued access to healthcare facilities and services was unsure. Providence said it would terminate its contract when Regence rejected an increased tariff scale for medical services. The new agreement ensures that patients will continue to have access to the network of Providence facilities and clinics.
Regence acknowledged the concerns of its medical insurance holders throughout the protracted negotiations. However, the two companies had now reached a sustainable reimbursement rate scale for their Medicare Advantage and commercial members. The medical insurance company said it was grateful that members would have no more disruptions in services provided by Providence.
These sentiments were endorsed by Providence, stating its gratitude to Regence for acknowledging the need to compensate caregivers and meet rising costs. The continued partnership and collaboration between the two service providers would enable the continuation and provision of world-class healthcare services.
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