Health Net Federal Services, LLC, a wholly owned subsidiary of
Health Net, Inc., and Centura Health, the leading health care
provider in Colorado and western Kansas, have signed a new
agreement to provide veterans with enhanced access to high-value
medical care through the U.S. Department of Veterans Affairs’
(VA’s) Patient-Centered Community Care (PC3) and Veterans Choice
programs.
“Health Net is delighted to join with Centura Health in support
of VA’s effort to provide timely access to community care for our
nation’s veterans,” said Thomas Carrato, president of Health Net
Federal Services.
“We understand the importance of collaboration and community
partnerships to help increase consumers’ access to convenient,
high-value care,” said Gary Campbell, president and CEO of Centura
Health. “Centura Health is honored to have been selected by Health
Net. Our veterans bravely put their lives on the line for us and we
are proud to partner with Health Net to ensure their health care
needs continue to be met through increased convenience and access
to care.”
Health Net has made Centura Health, including its 600 employed
primary care physicians and specialists of Centura Health Physician
Group in Colorado and Kansas, a major network provider for VA’s PC3
and Veterans Choice programs.
PC3 allows veterans to receive care in their local communities
when local VA medical centers cannot readily provide the needed
care to veterans due to geographic inaccessibility or limited
capacity. Under PC3, eligible veterans with an approved VA
authorization have access to community-based primary care,
inpatient specialty care, outpatient specialty care, mental health
care, limited emergency care and limited newborn care for female
veterans following the birth of a child.
The Veterans Choice program was created by the Veterans Access,
Choice and Accountability Act of 2014 (VACAA) and allows eligible
veterans who live more than 40 miles from a VA facility or are
unable to get a VA appointment within 30 days of their preferred
date, or within 30 days of the date determined medically necessary
by their physician, to obtain approved care in their community
instead.
About Centura Health
Centura Health connects individuals, families and neighborhoods
across Colorado and western Kansas with more than 6,000 physicians
and 18,100 of the best hearts and minds in health care. Through our
15 hospitals, six senior living communities, health neighborhoods,
physician practices and clinics, home care and hospice services,
and Flight For Life® Colorado, we are making the region’s best
health care accessible and affordable in every community we serve.
We believe you can inspire the people you care about to live
healthier lives by encouraging them to do the little things that
can make a big difference. We’re Centura Health, and we’re here for
your health. For information on Centura Health or any of the
facilities in our network, please visit www.centura.org.
About Health Net Federal Services
Health Net Federal Services has a long history of providing
cost-effective, quality managed health care programs for government
agencies, including the U.S. Departments of Defense and Veterans
Affairs. As the managed care support contractor for the TRICARE
North Region, Health Net provides health care services to
approximately 2.8 million uniformed services beneficiaries,
active and retired, and their families. In addition, Health Net
provides quality, cost-effective health care solutions for
veterans, as well as behavioral health services for active duty
service members, veterans and their families.
Health Net Federal Services also works collaboratively with VA
to administer the PC3 program. Health Net Federal Services
processes authorizations for health care on behalf of VA for
veterans to receive care from authorized community providers,
schedules appointments, manages receipt of all required medical
documentation for care, and processes claims for payment.
For information about Health Net Federal Services, please visit
www.hnfs.com.
About Health Net, Inc.
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 6.0 million individuals across the country
through group, individual, Medicare (including the Medicare
prescription drug benefit commonly referred to as “Part D”),
Medicaid, dual eligible, 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 Health
Net’s website at www.healthnet.com.
Cautionary Statements
The Company and its representatives may from time to time make
written and oral forward-looking statements within the meaning of
the Private Securities Litigation Reform Act (“PSLRA”) of 1995,
including statements in this and other reports, in presentations,
press releases, filings with the Securities and Exchange Commission
(“SEC”), and in meetings with investors and analysts. All
statements in this report, other than statements of historical
information provided herein, may be deemed to be forward-looking
statements and as such are intended to be covered by the safe
harbor for “forward-looking statements” provided by PSLRA. These
statements are based on management’s analysis, judgment, belief and
expectation only as of the date hereof, and are subject to changes
in circumstances and a number of risks and uncertainties. Without
limiting the foregoing, statements including the words “believes,”
“anticipates,” “plans,” “expects,” “may,” “should,” “could,”
“estimate,” “intend,” “feels,” “will,” “projects” and other similar
expressions are intended to identify forward-looking statements.
Actual results could differ materially 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 involve uncertainties related to the mix and
volume of business that could negatively impact the adequacy of the
Company’s 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; the Company’s ability
to reduce administrative expenses while maintaining targeted levels
of service and operating performance, including through the
Company’s master services agreement with a subsidiary of Cognizant
Technology Solutions Corporation (“Cognizant”); whether the Company
receives required regulatory approvals for Cognizant’s provision of
services to the Company and any conditions imposed in order to
obtain such regulatory approvals; the Company’s ability to
recognize the intended cost savings and other intended benefits of
the Cognizant transaction; the risk that Cognizant may not perform
contracted functions and services in a timely, satisfactory and
compliant manner; negative prior period claims reserve
developments; rate cuts and other risks and uncertainties affecting
the Company’s Medicare or Medicaid businesses; trends in medical
care ratios; membership declines or negative changes in the
Company’s health care product mix; unexpected utilization patterns
or unexpectedly severe or widespread illnesses; failure to
effectively oversee the Company’s 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; the timing of collections on amounts
receivable from state and federal governments and agencies;
litigation costs; regulatory issues with federal and state agencies
including, but not limited to, the California Department of Managed
Health Care and Department of Health Care Services, the Arizona
Health Care Cost Containment System, 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; 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 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 report.
This release contains references and links to other websites
that may contain content that is not owned or controlled by Health
Net. Please be aware that references and links to other websites
are provided for the user’s convenience and that Health Net is not
responsible for any such content that is not owned or controlled by
Health Net. Health Net does not express an opinion on any such
content and disclaims any liability in connection therewith.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150407005446/en/
Health Net Investor Contact:Peter O’Neill,
818-676-8692peter.oneill@healthnet.comorHealth Net Media
Contact:Brad Kieffer,
818-676-6833brad.kieffer@healthnet.comwww.twitter.com/hn_bradkiefferorCentura
Health Media Contact:Jennifer Wills,
303-804-8222jenniferwills@centura.org
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