HCA-HealthONE Hospitals join Averde's Complete Care Financing Network

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Averde HealthSM and HCA-HealthONE® LLC announced that HealthONE, the largest healthcare system in the Metro Denver area, has joined Averde's provider and hospital network. This partnership means that health plan members using Averde's network will have access to HealthONE facilities.

Averde Health and HealthONE announced an agreement to deliver a superior experience at a lower cost to patients and purchasers alike.

Under this agreement, members in AverdeSM plans will gain access to HealthONE hospitals and ancillary facilities across Colorado. In return, Averde will guarantee to HealthONE the payment of patient balances including deductible and co-insurance amounts.

According to Averde CEO Tom Policelli, "Health care providers leave money on the table every time they negotiate with big insurance carriers. This is especially true today as plan deductibles increase. Doctors and hospitals believe they have negotiated their managed care contracts fairly, only to find their net cash yield declining each year. In addition, hospitals and physicians spend more and more of their resources on collection-related activities, and less on delivering healthcare."

Added Ron Snow, HealthONE Vice President for Managed Care, "We are looking forward to working with Averde, which shares our mission of improving our patients' experience when they seek and need quality healthcare."

According to Averde's Policelli, "Healthcare financing has become a vicious cycle, wherein purchasers and health plans have injected costly complexity into the provider-patient relationship. Providers are forced to expend massive resources on medical billing and collections and other aspects of revenue cycle management, but they can never keep up with increasing patient deductibles. Averde is trying to create wins for patients, providers and purchasers alike by reducing unnecessary complexity and sharing the substantial savings that result."

Averde plans to enter more than 20 markets across the country over the next 24 months.

About Averde Health - Averde Health pioneered Complete Care Financing, guaranteeing payment of patient balances to participating providers. With Averde, providers get paid more, better and faster, while patients can rest assured that they will have financing available if they need it. Some of the nation's leading hospitals and physician groups have given Averde their best rates so that Averde can deliver a better experience at a lower cost to providers and purchasers alike. For more information on Averde Health, visit http://www.averdehealth.com.

About HealthOne - HealthONE is the largest healthcare system in the metro Denver area with 8,500 employees and 3,000 affiliated physicians. Named Colorado's "Best Company for Working Families (2004, 2005, 2006, 2007), the health system was created in 1995 as a 50/50 joint venture between non-profit The Colorado Health Foundation (formerly HealthONE Alliance), Colorado's second largest charitable foundation, and various affiliates of HCA. HealthONE includes: The Medical Center of Aurora and Centennial Medical Plaza; North Suburban Medical Center; Presbyterian/St. Luke's Medical Center and Rocky Mountain Hospital for Children at Presbyterian/St. Luke's Medical Center; Rose Medical Center; Sky Ridge Medical Center; Spalding Rehabilitation Hospital; Swedish Medical Center and Swedish Southwest ER; 11 ambulatory surgical centers; more than 30 occupational medicine/rehabilitation, Broncos Sports Medicine, specialty, and outpatient diagnostic imaging clinics; and AIRLIFE, which provides critical care air and ground transportation for an eight-state region. For more information, visit http://www.healthonecares.com.

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Roberta Wachtelhausen
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