Company Website:
http://www.healthnet.com
ARLINGTON, Va. & ENGLEWOOD, Colo. -- (Business Wire)
Health
Net Federal Services, LLC, a wholly owned subsidiary of Health
Net, Inc., and Centura
Health, the leading health care provider in Colorado and western
Kansas, have signed a new agreement to provide veterans with enhanced
access to high-value medical care through the U.S. Department of
Veterans Affairs’ (VA’s) Patient-Centered Community Care (PC3) and
Veterans Choice programs.
“Health Net is delighted to join with Centura Health in support of VA’s
effort to provide timely access to community care for our nation’s
veterans,” said Thomas Carrato, president of Health Net Federal Services.
“We understand the importance of collaboration and community
partnerships to help increase consumers’ access to convenient,
high-value care,” said Gary Campbell, president and CEO of Centura
Health. “Centura Health is honored to have been selected by Health Net.
Our veterans bravely put their lives on the line for us and we are proud
to partner with Health Net to ensure their health care needs continue to
be met through increased convenience and access to care.”
Health Net has made Centura Health, including its 600 employed primary
care physicians and specialists of Centura Health Physician Group in
Colorado and Kansas, a major network provider for VA’s PC3 and Veterans
Choice programs.
PC3 allows veterans to receive care in their local communities when
local VA medical centers cannot readily provide the needed care to
veterans due to geographic inaccessibility or limited capacity. Under
PC3, eligible veterans with an approved VA authorization have access to
community-based primary care, inpatient specialty care, outpatient
specialty care, mental health care, limited emergency care and limited
newborn care for female veterans following the birth of a child.
The Veterans Choice program was created by the Veterans Access, Choice
and Accountability Act of 2014 (VACAA) and allows eligible veterans who
live more than 40 miles from a VA facility or are unable to get a VA
appointment within 30 days of their preferred date, or within 30 days of
the date determined medically necessary by their physician, to obtain
approved care in their community instead.
About Centura Health
Centura Health connects individuals, families and neighborhoods across
Colorado and western Kansas with more than 6,000 physicians and 18,100
of the best hearts and minds in health care. Through our 15 hospitals,
six senior living communities, health neighborhoods, physician practices
and clinics, home care and hospice services, and Flight For Life®
Colorado, we are making the region’s best health care accessible and
affordable in every community we serve. We believe you can inspire the
people you care about to live healthier lives by encouraging them to do
the little things that can make a big difference. We’re
Centura Health, and we’re here for your health. For information on
Centura Health or any of the facilities in our network, please visit www.centura.org.
About Health Net Federal Services
Health Net Federal Services has a long history of providing
cost-effective, quality managed health care programs for government
agencies, including the U.S. Departments of Defense and Veterans
Affairs. As the managed care support contractor for the TRICARE North
Region, Health Net provides health care services to approximately
2.8 million uniformed services beneficiaries, active and retired, and
their families. In addition, Health Net provides quality, cost-effective
health care solutions for veterans, as well as behavioral health
services for active duty service members, veterans and their families.
Health Net Federal Services also works collaboratively with VA to
administer the PC3 program. Health Net Federal Services processes
authorizations for health care on behalf of VA for veterans to receive
care from authorized community providers, schedules appointments,
manages receipt of all required medical documentation for care, and
processes claims for payment.
For information about Health Net Federal Services, please visit www.hnfs.com.
About Health Net, Inc.
Health Net, Inc. (NYSE:HNT) is a publicly traded managed care
organization that delivers managed health care services through health
plans and government-sponsored managed care plans. Its mission is to
help people be healthy, secure and comfortable. Health Net provides and
administers health benefits to approximately 6.0 million individuals
across the country through group, individual, Medicare (including the
Medicare prescription drug benefit commonly referred to as “Part D”),
Medicaid, dual eligible, U.S. Department of Defense, including TRICARE,
and Veterans Affairs programs. Health Net also offers behavioral health,
substance abuse and employee assistance programs, managed health care
products related to prescription drugs, managed health care product
coordination for multi-region employers, and administrative services for
medical groups and self-funded benefits programs.
For more information on Health Net, Inc., please visit Health Net’s
website at www.healthnet.com.
Cautionary Statements
The Company and its representatives may from time to time make written
and oral forward-looking statements within the meaning of the Private
Securities Litigation Reform Act (“PSLRA”) of 1995, including statements
in this and other reports, in presentations, press releases, filings
with the Securities and Exchange Commission (“SEC”), and in meetings
with investors and analysts. All statements in this report, other than
statements of historical information provided herein, may be deemed to
be forward-looking statements and as such are intended to be covered by
the safe harbor for “forward-looking statements” provided by PSLRA.
These statements are based on management’s analysis, judgment, belief
and expectation only as of the date hereof, and are subject to changes
in circumstances and a number of risks and uncertainties. Without
limiting the foregoing, statements including the words “believes,”
“anticipates,” “plans,” “expects,” “may,” “should,” “could,” “estimate,”
“intend,” “feels,” “will,” “projects” and other similar expressions are
intended to identify forward-looking statements. Actual results could
differ materially from those expressed in, or implied or projected by
the forward-looking information and statements due to, among other
things, health care reform and other increased government participation
in and taxation or regulation of health benefits and managed care
operations, including but not limited to the implementation of the
Patient Protection and Affordable Care Act and the Health Care and
Education Reconciliation Act of 2010 (collectively, the “ACA”) and
related fees, assessments and taxes; the Company’s ability to
successfully participate in California’s Coordinated Care Initiative,
which is subject to a number of risks inherent in untested health care
initiatives and requires the Company to adequately predict the costs of
providing benefits to individuals that are generally among the most
chronically ill within each of Medicare and Medi-Cal and implement
delivery systems for benefits with which the Company has limited
operating experience; the Company’s ability to successfully participate
in the federal and state health insurance exchanges under the ACA, which
involve uncertainties related to the mix and volume of business that
could negatively impact the adequacy of the Company’s premium rates and
may not be sufficiently offset by the risk apportionment provisions of
the ACA; increasing health care costs, including but not limited to
costs associated with the introduction of new treatments or therapies;
the Company’s ability to reduce administrative expenses while
maintaining targeted levels of service and operating performance,
including through the Company’s master services agreement with a
subsidiary of Cognizant Technology Solutions Corporation (“Cognizant”);
whether the Company receives required regulatory approvals for
Cognizant’s provision of services to the Company and any conditions
imposed in order to obtain such regulatory approvals; the Company’s
ability to recognize the intended cost savings and other intended
benefits of the Cognizant transaction; the risk that Cognizant may not
perform contracted functions and services in a timely, satisfactory and
compliant manner; negative prior period claims reserve developments;
rate cuts and other risks and uncertainties affecting the Company’s
Medicare or Medicaid businesses; trends in medical care ratios;
membership declines or negative changes in the Company’s health care
product mix; unexpected utilization patterns or unexpectedly severe or
widespread illnesses; failure to effectively oversee the Company’s
third-party vendors; noncompliance by the Company or the Company’s
business associates with any privacy laws or any security breach
involving the misappropriation, loss or other unauthorized use or
disclosure of confidential information; the timing of collections on
amounts receivable from state and federal governments and agencies;
litigation costs; regulatory issues with federal and state agencies
including, but not limited to, the California Department of Managed
Health Care and Department of Health Care Services, the Arizona Health
Care Cost Containment System, the Centers for Medicare & Medicaid
Services, the Office of Civil Rights of the U.S. Department of Health
and Human Services and state departments of insurance; operational
issues; changes in economic or market conditions; investment portfolio
impairment charges; volatility in the financial markets; and general
business and market conditions. Additional factors that could cause
actual results to differ materially from those reflected in the
forward-looking statements include, but are not limited to, the risks
discussed in the “Risk Factors” section included within the Company’s
most recent Annual Report on Form 10-K filed with the SEC and the other
risks discussed in the Company’s filings with the SEC. Readers are
cautioned not to place undue reliance on these forward-looking
statements. Except as may be required by law, the Company undertakes no
obligation to address or publicly update any forward-looking statements
to reflect events or circumstances that arise after the date of this
report.
This release contains references and links to other websites that may
contain content that is not owned or controlled by Health Net. Please be
aware that references and links to other websites are provided for the
user’s convenience and that Health Net is not responsible for any such
content that is not owned or controlled by Health Net. Health Net does
not express an opinion on any such content and disclaims any liability
in connection therewith.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150407005446/en/
Contacts:
Health Net Investor Contact:
Peter O’Neill, 818-676-8692
peter.oneill@healthnet.com
or
Health
Net Media Contact:
Brad Kieffer, 818-676-6833
brad.kieffer@healthnet.com
www.twitter.com/hn_bradkieffer
or
Centura
Health Media Contact:
Jennifer Wills, 303-804-8222
jenniferwills@centura.org
Source: Health Net, Inc.
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