Albany, N.Y.-based health insurance provider CDPHP is voluntarily withholding millions of dollars in extra payments to physician practices in the area, according to a March 27 report from the Times Union.
Albany-based Capital Region Cardiology alleges that it is owed $1.9 million by CDPHP. The practice alleges that CDPHP has not reimbursed them for services from 2024, and the lack of payment is burdening local providers.
The practice plans to continue accepting patients with CDPHP insurance plans through the end of 2025, but will reevaluate when the contract ends.
Capital Region Cardiology claims that the insurer is the only one that uses the “withhold” payment method. Withheld payments will be given the following year, as long as practices meet certain metrics set by CDPHP.
“CDPHP recognizes that our decision will negatively impact our deeply valued provider partners. However, given ongoing market pressures, this decision was necessary to strengthen the plan’s long-term financial health,” said Paul Kahlon, CDPHP’s CFO.
CDPHP lost a total of $168 million in 2024, according to the report. The insurer was also recently sued by Albany Medical Center Health System for $50 million in underpayments.
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