Tenet and Cigna Reach an Agreement After 11 Months of Negotiations

Dallas-based Tenet Healthcare has reached a multi-year agreement with insurer Cigna, according to a statement on Cigna’s “Save Our Healthcare” website. It says “Cigna commercial customers will have uninterrupted, in-network access to Tenet Healthcare facilities and affiliated providers.” Tenet facilities will remain in-network for Cigna customers as well as Medicare patients insured by a Cigna-HealthSpring Medicare Advantage plan. Healthcare Finance reports that Cigna customers would have lost in-network access to Tenet facilities if an agreement had not been reached by the beginning of 2019, and that the 11-month negotiation was over payment rates. Ron Rittenmeyer, Tenet’s Executive Chairman and Chief… Full Story

Promotions at USPI Lead to New COO and CDO

United Surgical Partners International, a division of Dallas-based Tenet Healthcare, are promoting Mark Garvin to Chief Operating Officer and Andy Johnston to Chief Development Officer. The announcement follows the promotion of Brett Brodnax, who had been the President and Chief Development Officer of USPI, and is now its Chief Executive Officer. Garvin, who used to be the Chief Operating Officer of the West Division, will lead the company’s surgical operations portfolio in all markets. He joined the USPI in 2001, and has been a senior vice president of operations in the past. He founded the management team at OrthoLink Physicians… Full Story

Tenet Subsidiary USPI Appoints New CEO From Within

Tenet Healthcare subsidiary United Surgical Partners International announced that Brett Brodnax, President and Chief Development Officer of USPI, will be its Chief Executive Officer. Brodnax has been with USPI for 19 years, and will follow Bill Wilcox in the role. Wilcox will continue to be Chairman of USPI and Vice Chairman of Tenet Healthcare. USPI serves around 2.5 million patients each year and works with over 9,000 physicians and over 50 health system partners nationwide. With 41 ambulatory care centers in the Dallas-Fort Worth area, USPI has more than 280 surgical facilities, more than 100 urgent care centers and 24 imaging… Full Story

Texas Stays Busy as Mergers and Acquisitions Slow Down Nationwide in Third Quarter

While North Texas is abuzz with talk of healthcare mergers and acquisitions after Baylor Scott and White and Memorial Hermann work out the details of their merger, the country is trending down on such moves relative to last year. Health Exec reports that hospitals and health system merger and acquisitions  is slowing down, according to a study from Kaufman, Hall and Associates. The report says that just 18 transaction occurred during the third quarter of 2018, 38 percent less than the same period in 2017. There were 87 deals through this point last year, but only 68 this year. Texas’… Full Story

Tenet Healthcare Joins Federal Program for Bundled Payments

Dallas-based Tenet hospitals joined two other healthcare providers by opting into a federal program that aims to improve care while reducing costs, Modern Healthcare reports. Tenet and Adventist Health Systems (who are opening a new hospital in North Texas soon) are two of 1,299 entities who signed agreements with the Centers for Medicare & Medicaid Services to participate in the Bundled Payments for Care Improvement Advanced model. In all, 832 acute care hospitals and 715 physician group practices are included as well, according to Modern Healthcare. In the agreement, CMS pays providers a fixed amount for a certain set of… Full Story

Tenet Divests Its Nine-Facility Presence in the UK

Tenet Healthcare Corp. continues to tighten up its assets. The Dallas-based hospital operator said Monday that it has completed a deal to sell Aspen Healthcare, its London-based subsidiary. Aspen is comprised of nine healthcare facilities—four hospitals, four clinics, and a cancer care center. The buyer is NMC Healthcare UK Limited at a total compensation of $332 million. That price is made up of about $12 million cash and $320 million in liabilities, according to a recent filing. The sale takes Tenet out of the UK market. The company completed a transaction last month that took it out of the Chicago… Full Story

Alabama Hospital Owned by Tenet No Longer At Risk Of Losing Medicare Privileges

A hospital in Alabama owned by Dallas-based Tenet Healthcare is clear of immediate risk of losing its Medicare billing privileges for the second time this year, according to Becker’s Hospital Review. Birmingham-based Brookwood Baptist Medical Center was under pressure after the Centers for Medicare and Medicaid Services notified it in July that it wasn’t in compliance with certain program requirements related to patient safety. Brookwood had until Aug. 9 to make the changes or face contract termination, and Becker’s reports that CEO Keith Parrott confirmed the changes have been made. “We will continue to fully participate in the Medicare and… Full Story

Tenet Healthcare Sells Off Three Hospitals

Tenet Healthcare Corp. announced Wednesday that it has sold off its three acute care hospitals in Chicago in a transaction that closes the loop on the Dallas-based hospital chain’s entry into the market a half-decade ago. The facilities exiting Tenet’s portfolio are Louis A. Weiss Memorial Hospital, Westlake Hospital, and West Suburban Medical Center, plus their local affiliates. It’s expected to close during the fourth quarter. Tenet found buyers in hospital operator Pipeline Health and investment firm TWG Partners. Financial terms were not released. The move follows Tenet’s strategy to commit to its top markets, as Modern Healthcare points out. It… Full Story

Report: UnitedHealth Eyeing Tenet’s Conifer

The Wall Street Journal reports this week that UnitedHealth Group is among the companies taking a hard look at Tenet Healthcare’s Frisco-based Conifer Health Solutions. Tenet has been dangling its healthcare management subsidiary on the open market since December, although it has maintained it might choose to keep the division. It accounts for about $1.6 billion in revenue—about eight percent of Tenet’s total—but has been a bright spot for the company amid recent cuts and restructuring. The WSJ says Conifer could fetch $2 billion or more from an acquisition.

Tenet Pulls In 5 Million Servings Of Cereal During Annual Drive

Tenet Healthcare collected more than 5 million servings of the cereal during its annual Healthy Over Hungry Cereal Drive. Hundreds of Tenet facilities across the U.S., including more than 30 in North Texas, gathered cereal and raised $380,000 for Feeding America and local food banks during the week-long drive. The financial contribution, which includes a $100,000 match from Tenet, was up 23 percent from last year. Tenet’s SVP for Public Affairs Dan Waldmann says the company raised 63 percent more servings of cereal than last year. “We’ve grown this each year both in total financial donations and contributions of cereal,… Full Story