VA Expands Health Net Federal Services Patient Centered Community Care (PC3) Contract
August 13 2014 - 6:18PM
Business Wire
In addition to specialty care and behavioral
health, primary care services will be available to veterans
Health Net Federal Services, LLC, a wholly owned subsidiary of
Health Net, Inc., today announced that the Department of Veterans
Affairs (VA) has expanded its Patient Centered Community Care (PC3)
contract to include primary care services for veterans who are
unable to obtain primary care at a VA medical center in the three
PC3 regions in which Health Net operates.
“Health Net appreciates VA’s confidence in our organization and
is honored to assist VA in its efforts to ensure veterans have
access to timely care,” said Thomas Carrato, president of Health
Net Federal Services. “Our company has been committed to serving
veterans for more than 16 years, and the addition of primary care
services to our PC3 contract allows us to continue that commitment
by offering veterans primary care services within their community
when VA is unable to provide it.”
The PC3 program provides eligible veterans with coordinated,
timely access to care through a comprehensive network of non-VA
providers who meet VA quality standards when a local VA medical
center cannot readily provide the care. Through its PC3 contract
with VA, Health Net supports this program by providing care to
veterans in three of the six PC3 regions. These three regions –
Regions 1, 2 and 4 – encompass all or portions of 37 states, Puerto
Rico and the Virgin Islands. The expanded PC3 contract now adds
primary care services to our existing specialty care and behavioral
health services.
About Health Net
Health Net, Inc. (NYSE: HNT) 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 5.8 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 the
company’s website at www.healthnet.com.
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The company and its representatives may from time to time make
written and oral forward-looking statements within the meaning of
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including the words “believes,” “anticipates,” “plans,” “expects,”
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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 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 our 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; our ability to reduce administrative
expenses while maintaining targeted levels of service and operating
performance which could be significantly impacted if we are unable
to reach a final agreement with Cognizant Technology Solutions or
do not receive applicable regulatory approval of any final services
agreement; negative prior period claims reserve developments; rate
cuts and other risks and uncertainties affecting the company’s
Medicare or Medicaid businesses; the company’s ability to
successfully participate in Arizona’s Medicaid program; trends in
medical care ratios; membership declines or negative changes in our
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, 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 our 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 release.
Health Net, Inc.Brad Kieffer,
818-676-6833brad.kieffer@healthnet.com
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