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Premera Blue Cross and Providence Health & Services Reach Agreement on Rates

Posted on: Monday, 3 November 2008, 15:00 CST

Premera Blue Cross and Providence Health & Services announced today that they have reached an agreement on rates that will keep Providence in Premera's provider network. As part of the agreement, Providence has withdrawn its termination notice.

The agreement covers Providence's eight Washington hospitals and all of their employed and hospital-based physicians in the state.

"From the beginning we have emphasized the value of having Providence as part of our network and the importance of reaching an agreement that helps to keep healthcare affordable for our members. The compromises reached in this agreement achieve those goals," said Brian Ancell, Executive Vice President Healthcare Services and Strategic Development, Premera Blue Cross. "We are pleased with the work we've done to come together in compromise with an agreement that, most importantly, benefits our members' access to affordable healthcare services."

"Getting to this agreement took a lot of hard work and dedication from both Providence and Premera and I know both sides are very thankful that we were able to reach a resolution that ensured there was no interruption in the contract," said John Fletcher, Chief Executive of Providence Health & Services in Washington/Montana. "I strongly believe that it's going to take all of us in the healthcare system working together to improve healthcare affordability for there to be real improvement in reducing the cost of healthcare in our country."

The two companies also wished to praise the employers, brokers, patients, physicians and staff who played a key role in helping to identify the issues that were important to them as the ultimate users of healthcare in Washington.

About Premera Blue Cross

Our mission is to provide peace of mind to our members about their healthcare coverage. We provide health care coverage and related services to more than 1.3 million people. Premera Blue Cross has operated in Washington since 1933, and Alaska since 1952. Premera Blue Cross is an independent licensee of the Blue Cross Blue Shield Association.

Premera Blue Cross is a member of a family of companies based in Mountlake Terrace, Washington, that provide health, life, vision, dental, and long-term care insurance, and other related services.

About Providence Health & Services

Providence Health & Services in Washington is a not-for-profit network of hospitals, physicians, care centers, home health services, clinics and other services. With more than 40 ministries across the state, including eight hospitals, our integrated network of health and service organizations work together in service to their communities to provide high quality, compassionate care to those in need.

Source: Business Wire

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