Independence Blue Cross and Philadelphia-based Jefferson Health have agreed to a long-term contract renewal that will expand value-based care and add Einstein Health Network and Jefferson Health New Jersey to Independence's network.
In a news release published Dec. 19, the two sides said they intend to expand their shared projects, focused on integrating physical and behavioral health and improving maternal and cardiovascular health.
Jefferson Health, owned by Thomas Jefferson University, operates 18 hospitals in the Philadelphia area. It has had a value-based contract with Independence Blue Cross since 2017, according to the news release.
Independence Blue Cross CEO Gregory Deavens said the contract is a "significant and positive step forward" in the release.
"It acknowledges the near-term cost pressures that certain health systems are facing right now and increases our ability to find innovative ways to work together on value-based initiatives that keep costs down for our members and customers," Mr. Deavens said.