ALBANY, N.Y. ( NEWS10 ) — Health insurance provider CDPHP is in another financial battle — this time with local healthcare providers — namely, Capital Cardiology Associates (CCA). The physicians group CCA claims CDPHP owes them millions of dollars in reimbursements for care given to CDPHP patients in 2024. CDPHP on the other hand claims the rising cost of providing health insurance has left them in a financial bind.
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A healthcare company can legally withhold financial reimbursements to doctors, under stipulations which are typically outlined in a mutual contract or by state law. Capital Cardiology Associates says, for the first time ever, CDPHP has exercised their right to withhold reimbursements to them.
CDPHP explained their decision citing higher operating costs caused by changes to the Medicare Wage Index, sicker clientele, and higher drug prices, among other reasons.
The chief operating officer of Capital Cardiology Associates says he understands CDPHP’s financial predicament but he disagrees with the way they’re going about fixing it…