Our Lady of Lourdes Regional Medical Center, one of several hospitals in the Franciscan Missionaries of Our Lady Health System, announced late Thursday that the impasse between FMOL and Blue Cross Blue Shield of Louisiana has been broken and both sides have agreed on terms of a new contract that will extend until April 30, 2012. Just days ago it appeared a new contract would not be reached, which would have knocked FMOL hospitals out of the Blue Cross network, leading to thousands of dollars in out-of-pocket expenses for Blue Cross customers using FMOL services.

According to The Advocate, Mike Reitz, chief executive officer for Blue Cross, said in a conference call Thursday night that the 27-month contract is the same one it offered to FMOL on Jan. 8. However, neither side is disclosing terms of the deal.

“The agreed upon rate adjustment is enough to cover the cost of doing business and we are satisfied with the outcome,” said Lourdes Community Relations Director Elisabeth Arnold in a Thursday press release. “In the end, this is the reasonable contract that should have been resolved two months ago.” Contacted Friday, Arnold declined to offer specifics: “Substantial concessions have definitely been made by both sides,” Arnold tells the INDsider.

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