Tenet Healthcare Signs Agreement with Averde Health in South Florida

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Tenet patients in South Florida will have access to a revolutionary payment model.

Averde Health (http://www.averdehealth.com) today announced a new agreement with a subsidiary of Tenet Healthcare Corporation (NYSE: THC) that covers Tenet acute care hospitals in South Florida. When Averde goes live in South Florida later this fall, members of Averde’s network will gain access to the Tenet hospitals in Dade, Broward and Palm Beach counties.

Averde founder and CEO Tom Policelli explains, “Our objective is to completely change the way health care is paid for and to bring together doctors, employers and consumers. We have found a win-win-win formula that makes more money for providers and holds down costs for consumers and employers alike. Our product is really resonating with all parties involved.”

Averde works exclusively with high-deductible, Consumer Driven Health Plans (CDHPs) for individuals and self-insured employers, which is a growing market segment across the country but particularly in the Southeast. These plans can cut premiums significantly but require more upfront health care costs for the consumer. That means doctors and hospitals lose money, either through unpaid medical bills or from having to hire collections companies.

Averde Health improves providers’ cash flow by paying both the plan and the patient liability fully and quickly, thus eliminating any collections costs. When a complete and accurate claim is submitted within 60 days of service, Averde will pay 100 percent of the contracted amount, minus office visit co-pays, within 30 days. An added benefit is a reduction in lost office visits from patients who may be embarrassed by unpaid medical bills. After paying the provider, Averde collects from members directly and can offer flexible repayment terms including manageable payment plans through payroll deductions.

Tenet’s Dade and Broward County hospitals included in the newly signed contract are: Coral Gables Hospital, Hialeah Hospital, North Shore Medical Center, North Shore Medical Center – FMC Campus and Palmetto General Hospital. Tenet’s Palm Beach County hospitals include: Delray Medical Center, Good Samaritan Medical Center, Palm Beach Gardens Medical Center, St. Mary’s Medical Center and West Boca Medical Center.

Averde is actively recruiting other hospital systems in several Florida markets to provide members with a broad choice of in-network doctors and hospitals throughout the state.

Florida is a key market for us,” Policelli says. “Employers and consumers will benefit from increased competition in the state, and our product provides great value to both.” In addition to South Florida, Averde’s expansion stretches from Tampa to Jacksonville and will move quickly to other states in the Southeast before year’s end.

About Tenet South Florida - Tenet South Florida, a region of Tenet Healthcare Corporation (NYSE: THC), comprises nine acute care hospitals with 10 sites of service, 3,483 beds and numerous related health care services. Tenet’s hospitals aim to provide the best possible care to every patient who comes through their doors, with a clear focus on quality and service.

About Averde Health - Averde Health was founded by visionary health insurance executives who recognized the need for a better health care model that puts them in partnership with doctors and hospitals while allowing patients a simple way to manage their health care expenses. By solving problems for health care providers, Averde drives administrative costs out of the system, and helps hold down costs.

For more information, please visit http://www.averdehealth.com.

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Roberta Wachtelhausen
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