HPHC placed into receivership- BWH Bulletin - For and about the People of Brigham and Women's Hospital
HPHC placed into receivership- BWH Bulletin - For and about the People of Brigham and Women's Hospital
Skip to contents
January 7, 2000
Browse the archive
Current issue
In This Issue:
HPHC placed into receivership
Please Post-January Calendar
BWH Pike Notes launched
Happy Birthday!
Perks
A promising new century dawns
Free trial MBTA pass
The Commonwealth of Massachusetts placed Harvard Pilgrim Health Care (HPHC) into receivership on January 5, a status that protects the HMO from legal action by its creditors. The decision by the state was prompted by higher than expected losses reported by HPHC, which total approximately $177 million, and means that State Insurance Commissioner Linda Ruthardt will now oversee HPHC financial operations. The state has 30 days to devise a plan to return HPHC to solid financial ground. The 1.1 million HPHC subscribers in Massachusetts, including more than 20 percent of BWH employees, will continue to receive the same coverage they have always relied upon. Physicians are required to continue to see HPHC patients. HPHC represents a significant amount of business for all Partners hospitals and all Massachusetts hospitals, as 38.4 percent of the state’s HMO subscribers belong to HPHC. Therefore, BWH is taking every possible action to ensure that reimbursement for ongoing care is maintained at the current level. Said BWH President Jeffrey Otten, “We will continue to actively monitor the situation, in conjunction with Partners and the Massachusetts Hospital Association, to make sure that all of our financial and patient care interests are met.” Look for updates on the status of HPHC in future issues of Bulletin and on the Commonwealth of Massachusetts web site
www.state.ma.us