MEDCHI WORKING WITH MEMBERS TO FILE CLAIM IN BLUE CROSS BLUE SHIELD CLASS ACTION SUIT

Blue Cross Blue Shield (BCBS) recently agreed to a $2.8 billion settlement to resolve allegations of anticompetitive practices that negatively impacted healthcare providers. The lawsuit, initiated in 2012, claimed that BCBS suppressed competition by allocating exclusive service areas, leading to reduced reimbursements and increased costs for providers. The settlement fund is designated to compensate healthcare providers for these alleged practices.

Eligible parties can recover compensation for reduced reimbursements during the claim period—July 24, 2008, to October 4, 2024. You may be eligible to participate if you or your organization provided healthcare services and submitted claims to BCBS during the claim period and/or experienced reimbursement payments that may have been impacted by BCBS’s practiceS.

The settlement aims to address these antitrust violations and promote fair competition within the healthcare industry. It is expected to bring changes to how Blue Cross Blue Shield operates, potentially leading to more competitive pricing and improved services for providers and patients. For more information on resources available to you and/or your organization, contact: claims@medchi.org.

The information provided herein is for informational purposes only and is not intended to offer legal, accounting, medical, or other professional advice on any subject matter. You are advised to consult an attorney, accountant, or appropriate professional. Medical and Chirurgical Faculty of the State of Maryland, along with its affiliates or subsidiaries, do not guarantee the accuracy, reliability, or timeliness of any information contained herein. The content herein should not be relied upon or used as the sole basis for making decisions without consulting primary, more accurate, more complete, or more timely sources of information. Any communication, including, but not limited to, this communication, does not establish an attorney client relationship between the Medical and Chirurgical Faculty of the State of Maryland, or any of its affiliates or subsidiaries, and the recipient.

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Gene M. Ransom, III CEO MedChi, The Maryland State Medical Society
 

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