Tenet Healthcare Corp. has locked up new multiyear contracts with insurance giants UnitedHealthcare and Centene Corp., cementing pricing for the hospital system and uninterrupted service for the insurer's members.
Tenet on Monday signed a three-year deal with Centene that integrates into a single master contract all of Centene's and Health Net's insurance products, the companies announced. Centene acquired Health Net earlier this year.
The contract is effective Jan. 1 and includes the Affordable Care Act exchanges, Tricare, Medicare Advantage, Medicaid, dual-eligible plans and the Department of Veteran Affairs.
Tenet's four-year renewal with UnitedHealthcare, the health insurance division of UnitedHealth Group, is effective Aug. 1, 2017, the companies said. The contract has a value-based component that rewards Tenet providers for achieving certain quality and efficiency measures.
A year ago, Tenet inked Aetna to a four-year national deal.
Together, Aetna, Centene and UnitedHealthcare represent about 30% of Tenet's commercial business nationally, a Tenet spokesman said. "We appreciate how collaboratively Centene/Health Net and United approached this renewal to avoid any disruption for our patients," he said.