Dr. Jordan Coffey and Dr. Hollis H. Halford III
Our healthcare system is a complex system, but it is still the best in the world. We have access to the best care, the best treatments, and we are finding new and better ways to provide care to our patients.
Unfortunately, our healthcare environment is likely to undergo dramatic changes soon, resulting in limited access to care for patients in communities in Memphis and the Mid-South. mainly because the Tennessee Blue Cross Blue Shield (BCBST) recently sent contract termination notices to several Mid-South physician groups and medical facilities.
BCBST is requiring many physician groups and medical facilities to accept significant price reductions or exit the network. These fee savings represent savings of 40% or more for healthcare providers in some cases.
Our group received this information by impersonal form letter requesting that our practice accept a whopping 40% fee reduction. did this. They demanded that our doctors, anesthesiologist nurses, and nurses make these drastic cuts. This unprecedented move by BCBST will only exacerbate these challenges. More health care providers could leave Memphis if this tactic is allowed.
This action by BCBST has a direct impact on patients, families and communities across the Midsouth. It affects our hospitals, emergency rooms and clinics. These facilities support some of the state’s most underserved communities. Rural care delivery will be particularly affected, as price cuts of this magnitude mean smaller care homes may be forced to close. Insurance companies take the lead, and patients and providers bear the costs.
From a financial standpoint, BCBST posted a net profit of over $520 million in 2021, up 46% year-on-year and is looking for ways to further increase its profit. They target physician groups and medical facilities that have been involved in the Memphis community for decades. They argue that this will make them more competitive and in the best interest of patients, but ultimately it will lead to narrower networks, limited patient access to care, and health care providers across the Memphis market. turnover may occur.
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How, and more importantly, why is this happening? Insurance companies like the BCBST are looking to take advantage of a new federal law called the “No Surprises Act.” The purpose of the law is to protect patients, but unfortunately some insurers use the law to force providers and facilities to accept significant price cuts or exit the network. I’m here.
Our practices and providers are committed to protecting patients from reimbursement disputes. These harmful actions by the BCBST have made it significantly more difficult for us to do our job and for our patients to access quality care, but we have been unable to turn away patients in need or to provide services based on a patient’s ability to pay. We never compromise on the level of care we receive. .
Please join us in this effort. Inform BCBST that these reductions are incorrect. If your insurance is through Blue Cross Blue Shield of Tennessee, let your employer know that they prioritize money over medicine and that there are better options. I know my voice can help push back on this mistake.
Jordan Coffey, MD is President of the Medical Anesthesia Group. Hollis H. Halford III, MD is president of Memphis Radiological PC.
