The contract is set to become effective July 1, 2017, according to the Philadelphia Business Journal. The agreement includes a provision that Penn will join Independence’s Facilitated Health Networks model of health insurance, which includes exchanges of health care data and a no-charge guarantee for readmissions within 30 days of a surgery or other extended stay.
According to the Philadelphia Inquirer, Independence chief executive Daniel Hilferty believes that the agreement will advance Independence’s ability to provide high-quality coverage for those in the Philadelphia area — a number totaling 2.5 million people, according to Independence.
“This is a significant advancement in how we collaborate with hospitals and doctors to ensure our members, and the community-at-large, receive quality care at an affordable price,” Hilferty said in a statement to the Inquirer.
The contract comes at a time when both Penn and Independence have been expanding their partnerships.
In 2015, Independence announced a contract with the Jefferson Health system, the second largest health system in Pennsylvania after the Penn Health System, according to the Philadelphia Business Journal.
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