affiliation
SHELBY LIVINGSTON March 12, 2019
02:16 PM
Dr. Patrick Conway will
become CEO of Portland, Ore.-based company Cambia Health Solutions in addition
to maintaining his current role as CEO of Blue Cross and Blue Shield of North
Carolina, the companies announced Tuesday.
The move is part of a so-called strategic
affiliation between the two not-for-profit companies, in which they will share
management, administrative, operational and other corporate services under a
long-term services management agreement under the Cambia name. The companies
said their goal is to improve quality and lower costs while creating a better
experience for customers. A Blue Cross spokesman said sharing resources and
expertise will allow the companies to move faster to drive change for their
customers.
Cambia CEO Mark Ganz will
become executive chairman of Cambia's board of directors, which will be made up
of 10 members from Blue Cross's current board of trustees and nine members from
Cambia's current board. Blue Cross will retain its own separate board of
trustees, and each company will keep their separate corporate structures and
existing names. They will also maintain separate assets, capital and revenues.
"We have to do something different to make
healthcare better, simpler, and more affordable for the people we serve,"
Conway said in the announcement. "By sharing resources, innovations, and
best-in-class services we can fundamentally transform the way individuals and
families experience the healthcare system."
Cambia
is the parent company of six health plans in four states, as well technology
companies and a venture capital firm. It covers 2.6 million members in its
regional health plans in Oregon, Washington, Idaho and Utah, while Blue Cross
services more than 3.7 million members.
Cambia
and Blue Cross have a history. The two combined their venture capital arms in
2016 to launch investment company Echo Health Ventures to fund early-stage
healthcare companies. The affilliation, which is subject to regulatory approval
in all five states, takes the relationship to the next level.
"People
and their families are hurting every day in the current health care system,
longing for care focused on their needs," Ganz said. "Together, we
have the power to accelerate transformation, be a model for what is possible,
and positively impact the lives of those we serve."
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