CDPHP and Albany, N.Y.-based St. Peter's Health Partners have reached an "agreement in principle" that will keep the region's largest insurance provider in network with the hospital system that has 170 locations, the Times Union reported Dec. 3.
The agreement comes after St. Peter's Health Partners sent letters to patients in November warning them the health system and CDPHP could go out of network if a contract agreement was not reached by Dec. 31. The sides were at odds over reimbursement rates as the cost of providing care continued to rise.
The payer had called the letters inappropriate and premature, while the health system contended the letters were necessary to keep patients fully informed.
The sides did not release specifics on the new contract, according to the report.