Albany, N.Y.-based health insurance provider CDPHP is allegedly indebted to Albany-based Capital Region Cardiology for millions of dollars, according to a March 20 report from NBC affiliate WNYT
The practice alleges that CDPHP has not reimbursed them for services from 2024, and the lack of payment is putting a burden on local providers.
CDPHP’s chief financial officer, Paul Kahlon, said that the company is facing “unprecedented financial pressures,” and has decided not to return its 2024 provider withhold, according to the report.
“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,” Mr. Kahlon told WNYT.
In 2024, CDPHP faced criticism from another local provider, Albany (N.Y.) Med Health System, which claimed the insurance company shortchanged 16,225 claims.
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