Eligible veterans now have access to Tenet’s entire network of
providers
Company Website:
http://www.tenethealth.com
DALLAS & LOS ANGELES -- (Business Wire)
Tenet Healthcare Corporation (NYSE:THC) and operating subsidiaries of
Health Net, Inc. (NYSE:HNT) have signed a new agreement providing
Health Net members with in-network access to 59 Tenet hospitals, 129
outpatient centers and more than 1,600 employed physicians in 12 states
through 2016.
The new agreement continues the in-network access available to members
under Health Net’s commercial HMO/PPO, Medicare Advantage, Medicaid and
TRICARE arrangements.
Also, for the first time, veterans in nine states gain access to Tenet’s
facilities and physicians through Health Net’s agreement with the
Department of Veterans AffairsPatient-Centered Community Care
(PC3) program. The PC3 program supplements the healthcare capabilities
of the Veterans Health Administration by expanding access for eligible
veterans to primary care, specialty care and behavioral healthcare
services offered by community hospitals, outpatient centers and other
providers.
“We are pleased to complete this important agreement with Health Net to
provide affordable care for its members and offer additional locations
for eligible veterans to receive timely and trusted medical services,”
said Clint Hailey, chief managed care officer at Tenet. “This
announcement complements Tenet’s
agreement with TriWest Healthcare Alliance last summer, bringing all
Tenet physicians and facilities into the PC3 program and enabling the
company to provide a network of high-quality providers to veterans and
members of the armed forces.”
“This agreement further helps us ensure eligible veterans and military
beneficiaries have timely access to quality healthcare services within
their community,” said Tom Carrato, president of Health Net Federal
Services.
“This new agreement also helps Health Net improve cost certainty over
the next two years, which benefits our members,” said Steve Sell,
president of Health Net’s Western Region Health Plan.
About Tenet
Tenet Healthcare Corporation is a national, diversified healthcare
services company with more than 105,000 employees united around a common
mission: to help people live happier, healthier lives. The company
operates 80 hospitals, more than 210 outpatient centers, six health
plans and Conifer Health Solutions, a leading provider of healthcare
business process services in the areas of revenue cycle management,
value based care and patient communications. For more information,
please visit www.tenethealth.com.
The terms "THC," "Tenet Healthcare Corporation," "the company," "we,"
"us" or "our" refer to Tenet Healthcare Corporation or one or more of
its subsidiaries or affiliates as applicable.
About Health Net
Health Net, Inc. 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 million individuals across the
country through group, individual, Medicare (including the Medicare
prescription drug benefit commonly referred to as “Part D”), Medicaid,
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.
Tenet Healthcare Corporation Cautionary Statements
This release contains “forward-looking statements” – that is, statements
that relate to future, not past, events. In this context,
forward-looking statements often address our expected future business
and financial performance and financial condition, and often contain
words such as “expect,” “assume,” “anticipate,” “intend,” “plan,”
“believe,” “seek,” “see,” or “will.” Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
Particular uncertainties that could cause our actual results to be
materially different than those expressed in our forward-looking
statements include, but are not limited to, the factors disclosed under
“Forward-Looking Statements” and “Risk Factors” in our Form 10-K for the
year ended December 31, 2013, and in our quarterly reports on Form 10-Q,
periodic reports on Form 8-K and other filings with the Securities and
Exchange Commission. The information contained in this release is as of
the date hereof. The company assumes no obligation to update
forward-looking statements contained in this release as a result of new
information or future events or developments.
Tenet uses its company website to provide important information to
investors about the company including the posting of important
announcements regarding financial performance and corporate developments.
Health Net 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
in the past have experienced technical challenges in implementation and
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
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; and 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; the timing of collections on amounts receivable
from state and federal governments and agencies, including collections
of amounts owed under the T-3 contract; 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 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; 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; impairment of the company’s
goodwill or other intangible assets; 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 and subsequent Quarterly Reports on Form 10-Q 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.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150211006219/en/
Contacts:
Tenet Healthcare Corporation
Corporate Communications
Steven
Campanini, 469-893-2640
mediarelations@tenethealth.com
or
Investor
Relations
Thomas Rice, 469-893-6992
investorrelations@tenethealth.com
or
Health
Net, Inc.
Media
Brad Kieffer, 818-676-6833
brad.kieffer@healthnet.com
or
Investor
Relations
The Abernathy MacGregor Group
David Olson,
818-917-1469
dwo@abmac.com
Source: Tenet Healthcare Corporation and Health Net, Inc.
© 2024 Canjex Publishing Ltd. All rights reserved.