Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ) announced its plans to create a new company called Horizon Healthcare Innovations (HHI). The new company is expected to be formally operational in September, but has already begun work as a division of Horizon BCBSNJ, notes the insurer. The new company’s mission is to energize the transformation of health care delivery to a better system marked by higher quality and more effective care, greater collaboration and efficiency, and increased affordability, notes Horizon.
The insurer notes that its decision to establish a new company comes at an “opportune time” in order to address the quality and cost issues left out of the recently passed federal health care reform law, claiming that a number of provisions of the new law will increase health care costs and result in higher insurance premiums. The new law will add to the financial burden of many individuals and employers, who are already struggling with rising health care costs. The company is working to create partnerships with providers, employers, and health care leaders to develop new models of care that will provide patients with better quality care, increase efficiencies, and contain costs.
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