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.
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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.