Blue Cross Blue Shield (BCBS) has reached a hefty $2.8 billion settlement to wrap up a class-action lawsuit from healthcare providers who claimed the insurer engaged in unfair practices that hurt their reimbursement rates. This lawsuit highlighted some serious concerns about competition in the healthcare market, and the settlement is set to provide much-needed financial relief to thousands of affected providers.
Beyond the money settlement, BCBS has also promised to improve their practices by creating a system-wide information platform facilitating member benefits, eligibility verification and claims tracking, to make things more transparent moving forward. The settlement is the largest ever for a healthcare antitrust case.
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.
