January 12, 2015 — Miami, FL (BUSINESS WIRE) – Featured in the January issue of hfm Magazine, BDC Advisors’ “Organizing for the Second Curve: Combining Health Plans and Provider Systems,” spotlights how disruptive market factors or technology force a change in an industry’s business model and an increasing number of provider systems have made the decision to “cross the crevasse” and secure their own insurance licenses.
Health Systems are becoming insurers, launching ACO’s, building payer partnerships, private labeling products—and increasingly launching their own health plans. A recent American Hospital Association Survey of 100 large health systems showed that 38% already own their own plans, and another 21% stated they were planning to develop health plans in the next five years.
Health systems which own their own plans such as SummaCare in the Midwest, and Health First in Central Florida, are expanding. Recently, systems as diverse as MedStar in the Washington Baltimore market, Sutter in California, North Shore LIJ in New York, WellStar in Atlanta, and Partners in Boston all have acquired or launched plans in their markets.
“Now these health systems, and others like them who will secure licenses in the future, face the challenge of how to ‘think like a health plan.’ They need to integrate their insurance ventures with their provider business model, while not forgetting that a substantial segment of the enterprise is still driven by fee-for-service economics,” according to Bill Eggbeer, Managing Director of BDC Advisors and co-authors Martin Hauser, MD, Chief Executive Officer, SummaCare, Inc. and Chief Government Relations Officer, Summa Health System and Dr. Steven P. Johnson, Ph.D., President and Chief Executive Officer, Health First, of the featured story.
As a national healthcare consulting firm specializing in strategic business planning and business diversification for large integrated healthcare delivery systems, academic medical centers, and managed care organizations, BDC Advisors has helped many clients organize for the second curve, gain strategic value and build support for a unified business vision. Learn more by downloading the full article.
BDC Advisors is a national healthcare consulting firm headquartered in Miami, which specializes in strategic business planning and business diversification for large integrated healthcare delivery systems, academic medical centers, and managed care organizations.
For more information visit www.bdcadvisors.com. Follow us on Twitter @BDCAdvisors.
For more information, contact Pattie McCann at Pattie.McCann@bdcadvisors.com or 805-428-2039
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