Two Blue Cross Blue Shield insurers on both U.S. coasts will invest jointly in high-cost management technology and share insights into improving health care in a long-term agreement that will leave the companies as separate entities.
Blue Cross Blue Shield of North Carolina and Portland, Oregon-based Cambia Health Solutions said Tuesday that they will share top executives but will keep separate their assets and insurance policies. Cambia's new board will be mixed.
Blue Cross NC CEO Patrick Conway will also become Cambia's CEO. He says in an interview the companies will pool investments in information technology and data analytics.
The two not-for-profit companies insure more than 6 million people in North Carolina, Oregon, Utah, Idaho and Washington. The companies' policies and pricing will remain regulated in their separate operating states.