Becker's Healthcare June 25, 2024
As large national Medicare Advantage carriers face financial headwinds and tensions with health systems, one New York payer says business in the market is booming.
“Across the country, you’re seeing hospitals that have stopped accepting for-profit Medicare Advantage plans,” Nick Kraft, Chief Growth Officer at Capital District Physicians’ Health Plan, told Becker’s. “Providers are tired of not being paid on time and jumping through hoops. As a local plan, we don’t run into these problems because we work hard with our local systems on this issue.”
CDPHP has about 400,000 total members, including 63,000 enrolled in Medicare Advantage. MA membership is up 26% year over year, and the Albany-based company boasts a 98% retention rate. In 2023, it was...
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