Six New Jersey Hospital Systems Form Healthcare Transformation Consortium
Hunterdon Healthcare is part of a group of hospitals and health systems which are working together to provide their employees better health benefits.
Hunterdon Healthcare, along with Atlantic Health System, CentraState Healthcare System, Holy Name Medical Center, St. Joseph’s Health and Saint Peter’s Healthcare System today announced they have formed the Healthcare Transformation Consortium (HTC). This collaborative of health care organizations, each with self-funded employee health plans, will use their collective expertise to address an issue that many businesses are facing: how to reduce medical costs while improving access and the quality of care for employees and dependents covered under self-funded benefit plans.
“As health care providers and employers, we strive to be leaders in achieving better quality and lower cost. We have listened to our employees, who want lower out-of-pocket costs for themselves and their families. We are hoping to see meaningful results from the work of the HTC for 2019 benefits,” stated Robert P. Wise, President and CEO, Hunterdon Healthcare.
While the consortium is in the early stages of development, the participants have agreed to collectively bid out the administration of their self-insured plans to a single carrier with the aim of reducing the administrative fee associated with providing health care benefits. The consortium will select an insurance carrier who is flexible and open to an opportunity to develop a unique product with health systems that can be replicated in other regions.
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