Blue Cross and Blue Shield of Minnesota and Mayo Clinic will enter a new five-year agreement that will keep all state-wide Mayo Clinic locations within network through 2023.
The collaboration is also meant to determine the “most effective ways to utilize emerging and breakthrough technologies in ways that are sustainable.”
This agreement will help insurers with commercial or government coverage reduce avoidable costs caused by misdiagnosis and excessive treatments.
“Mayo’s openness and willingness to be part of the solution to address rising health care costs is to be commended,” said Garrett Black, senior vice president of health services and enterprise solutions at Blue Cross and Blue Shield of Minnesota in a statement. “Our new agreement was designed with the goal of launching a new kind of long-term strategic relationship that can bring long-term pricing predictability and stability to the market while fostering continued innovation in the way care is accessed, paid for and delivered.”
The new agreement takes effect on Jan. 1, 2019.
As a senior news writer for TriMed, Subrata covers cardiology, clinical innovation and healthcare business. She has a master’s degree in communication management and 12 years of experience in journalism and public relations.