Tenet and WellPoint Extend Agreements in Key Areas
2008-07-24 15:50:04 -
- Tenet Healthcare Corporation Media: David Matthews, 469-893-2640 David.Matthews@tenethealth.com or Investors: Thomas Rice, 469-893-2522 Thomas.Rice@tenethealth.com Tenet Healthcare Corporation (NYSE: THC) today announced that it has reached terms on contractual agreements with WellPoint, Inc.'s affiliated health plans in several key markets, including California, Missouri and Georgia, as well as its affiliated UniCare health plan in Texas. Financial terms of the agreements were not disclosed.
Through these agreements, Tenet-affiliated hospitals will remain in and several facilities will be added to WellPoint's affiliated health plans' provider networks. The agreements also expand the pay-for-performance provisions that provide Tenet hospitals with enhanced financial incentives for meeting certain quality indicators during the terms of the contracts through WellPoint's industry leading Quality-In-Sights(R): Hospital Incentive Program (Q-HIP).
"We are pleased that WellPoint has added seven more Tenet hospitals to its affiliated health plans' networks," said Stephen L. Newman, M.D., Tenet's chief operating officer. "We look forward to continuing to provide high-quality care to health plan members."
"Tenet's commitment to service, patient safety and quality health care are values that WellPoint shares," said Bob McIntire, WellPoint's senior vice president of health care management. "Tenet has long been a valued partner, and we're pleased to have their hospitals in our health plans' networks."
Tenet's acute care hospitals in Dallas and Houston are being added to UniCare's network. The Dallas-area hospitals being added are Centennial Medical Center (Frisco), Doctors Hospital at White Rock Lake and Lake Pointe Medical Center (Rowlett). The Houston-area hospitals are Cypress Fairbanks Medical Center, Houston Northwest Medical Center and Park Plaza Hospital. Together these hospitals represent more than 1,500 beds. Tenet's newest facility, Sierra Providence East Medical Center (El Paso), will be added to the UniCare network within the next 30 days.
"The expanded agreements with WellPoint's affiliated health plans enable us to broaden the relationship of our companies in California and Missouri," said Clint Hailey, Tenet's chief managed care officer. "Specifically, WellPoint's affiliates will have the opportunity to administer Tenet's employee benefits programs in these two states beginning in January 2009."
Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related ancillary health care businesses, which include ambulatory surgery centers and diagnostic imaging centers. Tenet is committed to providing high quality care to patients in the communities we serve. Tenet can be found on the World Wide Web at www.tenethealth.com.
WellPoint, Inc. is the largest health benefits company in terms of medical membership in the United States. WellPoint is an independent licensee of the Blue Cross and Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as Empire Blue Cross Blue Shield in 10 New York City metropolitan and surrounding counties and as Empire Blue Cross or Empire Blue Cross Blue Shield in selected upstate counties only), Ohio, Virginia (excluding the city of Fairfax, the town of Vienna and the area east of State Route 123.), Wisconsin; and through UniCare. Additional information about WellPoint is available at www.wellpoint.com.
Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended Dec. 31, 2007, our quarterly reports on Form 10-Q and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
WellPoint is Tenet's Largest Contracted Health Plan
