Reading (Pa.) Health System and UPMC Health Plan finalized an agreement to form a provider-payer joint venture beginning Jan 1.
The joint venture will reportedly offer a full line of third party administrator and flexible spending account administrative services for Reading Health System's employee benefits plan, which services more than 11,000 individuals. The partnership will introduce a full spectrum of health coverage, including: Medicare Advantage, administrative services only for self-insured employers, individual exchange, commercial group, special needs plan, managed medical assistance and a children's health insurance plan.
"We are delighted to partner with UPMC Health Plan, one of Pennsylvania's strongest and most experienced healthcare insurers. This partnership will rely on value-based healthcare, enabling an increased number of residents and companies in the Berks County region to access Reading Health as an in-network provider, resulting in enhanced cost savings and superior health management," said Clint Matthews, president and CEO of Reading Health System.
"By combining the unique strengths of the two organizations, the partnership will provide value-based payment models that improve health outcomes by merging clinical capabilities with population health and risk management strategies," said President and CEO of UPMC Health Plan and UPMC Insurance Services Division Diane Holder. "We are pleased to offer our twenty years of experience as part of an integrated delivery and finance system with the valuable clinical expertise of Reading Health System. Our shared commitment to value, quality and access will offer savings and better outcomes for individuals and employers in the region."