Tenet Announces Contract with HumanaTargeted News Service
DALLAS, Aug. 2 -- Tenet Healthcare issued the following news release:
Tenet Healthcare Corporation (NYSE: THC) today announced that it has signed a new four-year agreement with Humana Inc. (NYSE: HUM), one of the nation's leading health care and well-being companies. The agreement with Humana became effective on August 1, 2012.
Under the terms of the new agreement, members of Humana's Medicare and commercial Preferred Provider Organization (PPO), Health Maintenance Organization (HMO), Point-of-Service (POS) and HumanaOne individual plans now have in-network access to health care services at all hospitals owned and operated by Tenet subsidiaries. Members will also have access to freestanding diagnostic imaging centers, ambulatory surgery centers, urgent care centers and other freestanding outpatient centers in which Tenet holds a majority interest.
The renewal also includes physicians in several markets that are employed by various Tenet subsidiaries. Humana's national network - one of the largest, most prestigious networks in the country - includes more than 600,000 hospitals and providers.
"This new agreement allows us to continue providing uninterrupted service to our patients who are covered by Humana," said Clint Hailey, Tenet's Chief Managed Care Officer. "We are pleased that this innovative contract is designed to expand our market share at key Tenet hospitals in exchange for pricing modifications that are financially advantageous to both parties."
"Humana's agreement with Tenet is an important step in our ongoing commitment to help Humana members achieve lifelong well-being by providing them with high-quality, affordable and accessible coverage through an extensive national provider network," said Bill Barnes, Vice President of Humana's National Contracting Organization. "Humana members will continue to have access to their wide range of services and facilities without disruption to the Humana network. We're very pleased that we will continue to enjoy a successful long-term relationship with Tenet."
Tenet Healthcare Corporation, a leading health care services company, through its subsidiaries operates 50 hospitals, over 100 free-standing outpatient centers and Conifer Health Solutions, a leader in business process solutions for health care providers that serves more than 300 hospital and health care entities nationwide. Tenet's hospitals and related health care facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com.
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