Two of New York’s leading not-for-profit health care companies are teaming up to improve the quality, experience, and affordability of care for residents across the state.
CDPHP and The Lifetime Healthcare Companies, the parent company of Excellus BlueCross BlueShield and Univera Healthcare, have announced plans to form an affiliation that will allow the health insurers to maintain their local brands and identities while gaining economies of scale through shared technologies, systems, processes, and resources as part of one corporate family.
If the affiliation is approved by state and federal regulators, The Lifetime Healthcare Companies would become the parent company of CDPHP, Excellus BCBS, and Univera Healthcare.
CDPHP, Excellus BCBS and Univera Healthcare are not-for-profit, mission-driven organizations. Working together, they will combine resources, leverage best practices, and develop new and innovative ways to improve the quality, affordability, and experience of care for millions of New Yorkers. If the affiliation receives regulatory approval, each plan will remain local and highly responsive to the unique needs of their respective communities.
“I’m excited to partner with CDPHP to work together on quality, affordability, and access to health care in our respective regions,” said Jim Reed, The Lifetime Healthcare Companies president and CEO. “I have a tremendous amount of respect for the reputation CDPHP has built in the Capital Region and the work of the health plan. It just makes sense to partner with such a trusted, mission-driven not-for-profit whose culture aligns so closely to ours.”
CDPHP and The Lifetime Healthcare Companies have announced their intent to affiliate with the appropriate government agencies. While the plans await regulatory approval, it’s important to understand that services will continue as usual for members, providers, employers, and strategic partners.
The boards of directors of CDPHP and The Lifetime Healthcare Companies unanimously approved the affiliation.
“We’re confident that The Lifetime Healthcare Companies and CDPHP will accomplish even more together with this affiliation,” said Faheem Masood, chair of The Lifetime Healthcare Companies boards of directors. “The health insurers are likeminded in mission, and their shared commitment to our communities will help make health care better for us all.”
CDPHP, headquartered in Albany, and The Lifetime Healthcare Companies, headquartered in Rochester, serve largely different areas. CDPHP currently employs 1,400 people in the Capital Region and beyond and serves 400,000 members in 36 counties. The Lifetime Healthcare Companies employs about 4,500 New Yorkers and serves 1.5 million members in the 39 counties of upstate New York.
Provided information
