NEW YORK CITY (PIX11) — One of New York City’s biggest hospital systems and one of the city’s largest insurance providers have finally reached an agreement after months of bargaining.
Mount Sinai and Anthem Blue Cross and Blue Shield reached a three-year agreement on Tuesday, putting the hospital system, physicians and other care providers back in network for beneficiaries.
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“We were able to work with Mount Sinai to protect our members’ access to care while keeping costs as low as possible for the families, employers, and taxpayers who pay for healthcare,” said Victor DeStefano, the Commercial President of Anthem, in a statement.
“We recognize this has been a challenging period for patients and providers and are pleased that Anthem beneficiaries will again have access to Mount Sinai’s world-class medical care,” said Brendan G. Carr, MD, MA, MS, Chief Executive Officer of Mount Sinai Health System.
The agreement comes after the two sides were unable to negotiate since January, putting Anthem Blue Cross and Blue Shield beneficiaries out of network in March.
Representatives for Mount Sinai previously accused Anthem of paying them a substantially lower rate than other health care institutions and owing the hospital system more than $450 million in outstanding payments.
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In response, a representative for Anthem said they had “reached an agreement on reasonable payment increases” but accused hospital representatives of refusing to sign the contract at the last minute.
The new three-year contract applies to Anthem’s commercial, Medicaid, Child Health Plus and Essential Plan products. Representatives say it includes responsible price increases as well as new value-based care models. It also preserves important protections that help ensure hospital bills are accurate, care is delivered in the appropriate setting, and healthcare cost trends track more closely with inflation and workers’ wages.
Dominique Jack is a digital content producer from Brooklyn with more than five years of experience covering news. She joined PIX11 in 2024. More of her work can be found here.
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