A deal signed between Blue Cross and Blue Shield of Texas and Tenet Healthcare Corp (NYSE:THC) will ensure that patients will be provided with insurance from the former at all of the hospitals under Tenet Health Corporation. This was disclosed by Clint Hailey, a senior executive of Tenet.
“We are pleased to reach an early renewal on this important contract and avoid any disruption to the high-quality care that patients with Blue Cross and Blue Shield of Texas health insurance expect from our providers,” said Clint Hailey, chief managed care officer for Tenet.
The agreement which will run for several years will include all HMO and PPO products of Blue Cross and Blue Shield of Texas. Also included is a new facility in El Paso, The Hospitals of Providene Transmountain Campus. This is the newest hospital in Tenet’s portfolio.
Currently, Blue Cross and Blue Shield of Texas boasts a membership base of over 5 million members. The firm is Texas’ only health insurer that is customer-owned and spread across the state. It is currently the biggest health benefits provider in Texas with a presence in all the 254 counties found in the state. The insurer collaborates with 500 hospitals and close to 80,000 physicians and other healthcare practitioners. A unit of Health Care Services Corporation, Blue Shield and Blue Cross plans are also available in other states such as New Mexico, Oklahoma, Montana, and Illinois. The parent company of Blue Cross and Blue Shield of Texas is the ranked fourth among the largest health insurers in the United States.
Blue Cross and Blue Shield of Texas also operates in conjunction with Tenet Healthcare Corporation a care arrangement that is accountable that covers 80,000 lives with the goal of improving quality, increasing efficiency and reducing costs.
The number of outpatient centers that Tenet Healthcare Corporation operates all over the United States is approximately 470. Tenet also has under its management short-stay surgical hospitals numbering about 20 and about 80 hospitals specializing in general acute care.
On Friday shares of Tenet Healthcare Corp edged up by 0.05% to close the day at $19.22.