Law360(October 15, 2024, 6:54 PM EDT)
The Blue Cross Blue Shield network will shell out $2.8 billion and invest “hundreds of millions” more overhauling its claims systems to soften barriers between members, in a massive antitrust settlement disclosed Monday in Alabama federal court under which healthcare providers’ counsel stands to reap up to $700 million.
Billed as “the largest-ever payment in a healthcare antitrust case, and one of the largest in any antitrust case,” the deal with a class of providers comes on top of a $2.67 billion settlement that the Blue Cross Blue Shield Association and its members previously cut with network subscribers, resolving allegations that the defendants illegally carved up the country and blocked competition between BCBS members.
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