Managed Care Report
Managed Care Report
• Blue Cross and Blue Shield of South Carolina’s (BCBSSC; Columbia, SC) Medicare subsidiary, Palmetto Government Benefits Administrators (GBA), has saved the federal government more than $1 billion through various payment safeguard activities, BCBSSC said. According to Sue Pearcy, BCBSSC vice president of the Medicare Integrity Program Division, saved or recouped more than $1 billion in federal tax dollars through four functions designed to ensure correct payment of Medicare claims. GBA holds the Medicare part A and part B contracts in South Carolina, as well as a contract to administer home health claims and hospice benefits in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Ohio, Indiana, and Illinois.
• Moody’s Investors Service has changed the outlook on Oxford Health Plan’s (Norwalk, CT) debt ratings to stable from negative. The ratings affected were the company’s B3 senior secured bank facility, its Caa1 senior notes, and its B3 senior implied. Moody’s said the change was "due to stabilized operating performance, which should enable the parent company to maintain current levels of cash over the near to intermediate term." About $500 million in debt is affected, Moody’s said.
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