- In light of Greensboro, NC-based Cone Health's jump into the health insurance industry, observers are finding indications that other systems may be positioned to do as as well, though no other moves appear imminent.
- Wake Forest Baptist is a particularly notable candidate to pursue health insurance offerings due to its joint venture with Carolinas HealthCare System: MedCost. It administers plans for self-insured companies like Wake Forest Baptist itself
- The hospital says it has discussed obtaining an insurance license and providing plans, but is not focusing on the idea at this time. As the Triad Business Journal reports, "The pieces that could combine in a health insurance offering by Wake Forest Baptist are already there, but not connected—yet."
Long term, how prevalent will it be for healthcare organizations to get into the insurance business—and vice-versa?
Terry Williams, executive vice president of strategy and administration at Wake Forest Baptist, told the Triad Business Journal that he does anticipate seeing more health systems pursue insurance offerings. "You look elsewhere, and insurance carriers are starting to invest in actually providing healthcare, too," he said.
Williams adds that in his opinion, the trend is likely to grow. "There is a natural tendency in the way health care is evolving to have health insurance plans to want to do more care providing, and for care providers to think about being health plans as well."
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