Daily Archives: April 5, 2018

Northwell combines with Western Connecticut System

DANBURY — The health network that runs Danbury, Norwalk and New Milford hospitals is joining forces with a four-hospital group in New York to form a $2.4 billion medical system stretching from the Hudson River to the shores of Long Island Sound.

The merger of the Western Connecticut Health Network and Health Quest Systems, which is subject to approval by the states of Connecticut and New York and the Federal Trade Commission, would create a seven-hospital network serving 1.5 million people.

“You have two health networks of similar size coming together in a powerful way to provide more access and capacity for our residents and community members,” said Robert Friedberg, the president and CEO of Health Quest, told Hearst Connecticut Media. “This is a pretty dramatic change, because usually with a deal like this, the health networks are not equals, and you don’t have this sharing of perspective.”

The merger, described as a mutually beneficial deal that brings together 2,600 physicians and 12,000 employees, is designed to strengthen the networks’ position in western Connecticut and the lower Hudson Valley.

“We think that collectively we will be able to bring in services that we currently don’t have, such as neurosurgical procedures that require a high volume in order to attract physicians,” said Dr. John Murphy, president and CEO of Western Connecticut Health Network. “We might be able to bring in pediatric specialties and certain types of cancer treatments.”

30% higher premiums, lower enrollment.

In the not-exactly-a-shock category, this newsbit from Reuters:

(Reuters) – About 11.8 million consumers nationwide enrolled in 2018 Obamacare exchange plans, a 3 percent drop from last year when 12.2 million consumers signed up, according to a final government tally released on Tuesday by the Centers for Medicare and Medicaid Services.

The tally includes both sign-ups on the exchange run by the federal government for 39 states, which was released on a provisional basis late in 2017, and on the 12 other exchanges run by Washington, D.C. and the remaining states.

CMS said the average premium before tax credits in 2018 is $621 a month, an increase of more than 30 percent from last year.

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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