Read the November issue of JHC; ; HCA Healthcare named a best employer for veterans by Military Times; plus Jobs!

November 9, 2023

Hello NAW Subscribers -

I hope you like this issue of National Accounts Weekly.

Sincerely,

John Pritchard

President of ANAE

Publisher of The Journal of Healthcare Contracting

Read the November issue of JHC

Read the latest issue of The Journal of Healthcare Contracting to learn what it takes to keep up with a changing industry.

In this issues, you will find stories like:

Sign of the Times
Pacific Dental Services and MemorialCare Joint Venture
The Primary Care Shortage
and more!

Please join The Association of National Account Executives on Tuesday, December 12, 2023 for a regional meeting in Brentwood, TN! ANAE members and prospective members will be able to network with their peers and hear a presentation from LifePoint Health and HCA!

Location: Mere Bulles, 5201 Maryland Way, Brentwood, TN 37027

Registration:

ANAE Members - $119
Non-ANAE Members - $295

Agenda:

4:00 PM: Networking
4:30-5:10 PM: Jay Kirkpatrick, Vice President, Supply Chain Operations LifePoint Health and Bill Kellar, VP Strategic Sourcing, HCA
5:10-5:30 PM: Q&A
5:30-7:00 PM: Networking

Questions? Please contact Anna McCormick at amccormick@sharemovingmedia.com

HCA Healthcare named a best employer for veterans by Military Times

HCA Healthcare announced that it has been recognized for the fourth consecutive year as a Best for Vets Employer by Military Times. This recognition highlights the efforts that HCA Healthcare makes to recruit, retain and support current and former service members, military spouses and military caregivers. Since 2012, HCA Healthcare has hired more than 60,000 veterans, active-duty and reserve personnel and military spouses.

The Military Times 2023 Best for Vets: Employers ranking is an editorially independent, highly respected analysis of the policies and practices that make companies an attractive place to work for both current employees and future job seekers within the military community. Rankings are based on the results of a voluntary survey which seeks to capture the areas of greatest importance to transitioning service members, veterans and their families when choosing an employer. Recruitment and employment practices, as well as retention and support programs, are given the most weight in scoring.

Tufts Medicine selects Premier as strategic partner to achieve supply chain excellence

Premier announced a renewed partnership with Tufts Medicine, a leading integrated health system bringing together the best of academic and community medicine to deliver exceptional, connected and accessible care experiences to consumers across Massachusetts and beyond.

Tufts Medicine and Premier are undertaking a 10-year strategic partnership to expand and extend their shared supply chain goals and capabilities. As part of this relationship, Tufts Medicine will leverage Premier’s Nexera supply chain consulting arm to co-manage the people, processes and technologies needed to drive efficiency and total cost management.

Beyond Nexera’s supply chain management services, Tufts Medicine will have expanded access to PINC AI™ performance improvement technologies to aggregate and standardize systemwide spend and utilization data, as well as Remitra®, Premier’s procure-to-pay (P2P) platform that seamlessly automates manual payment and invoicing processes to reduce waste and save time for both healthcare providers and suppliers. In addition, Tufts Medicine will leverage PINC AI™ consulting services to pinpoint cost savings opportunities and accelerate supply chain innovation across the organization.

Cleveland Clinic announces expansion of Community Health Workers program

Cleveland Clinic announced plans to expand its Center for Community Health Workers by doubling its staff over the next month.

Cleveland Clinic’s Center for Community Health Workers is one of the first programs of its kind at an academic medical center, and the only one to be led by a certified community health worker.

Community health workers collaborate with patients who experience barriers to accessing medical care and daily essentials such as food, housing, employment and childcare. They play a valuable role as facilitators, translators and advocates, connecting individuals to needed resources.

Cleveland Clinic’s community health workers are part of the clinical teams within emergency medicine, primary care and women’s health.

Established in November 2021 by a multimillion-dollar gift from the Jones Day Foundation, the program continues to sustain and grow with support from philanthropic gifts of all sizes. The program has trained 10 community health workers and aims to recruit an additional 10 people from the community to meet the needs of more patients.

Tenet Healthcare to sell three South Carolina hospitals to Novant Health

Tenet Healthcare has entered into a definitive agreement with Novant Health for the sale of three Tenet hospitals and related operations in South Carolina for approximately $2.4 billion in cash (after-tax proceeds of approximately $1.750 billion).

The transaction will include Coastal Carolina Hospital in Jasper County, Hilton Head Hospital in Beaufort County, East Cooper Medical Center in Charleston County, affiliated physician practices and other related hospital operations. Tenet’s ambulatory facilities operated by United Surgical Partners International (USPI) in these markets will remain with Tenet.

Under the purchase agreement, Tenet's Conifer Health Solutions subsidiary will enter into a new and expanded fifteen-year contract to provide revenue cycle management services for the South Carolina hospitals and related operations. Furthermore, Novant Health and USPI will be enhancing their ambulatory surgery partnership to increase access to high-quality, ambulatory surgical services for communities across the Carolinas.

For the last 12 months ended September 30, 2023, the three hospitals and related operations included in the sale generated revenues of approximately $552 million, pre-tax income of approximately $126 million and Adjusted EBITDA of approximately $150 million, excluding interest expense of approximately $1 million, litigation and investigation costs of approximately $3 million, and depreciation and amortization expense of approximately $20 million. The Company estimates recording a pre-tax book gain of approximately $1.6 billion as a result of this anticipated transaction. Tenet anticipates utilizing the proceeds from the transaction primarily for debt retirement.

The transaction is expected to be completed in the first quarter of 2024, subject to customary regulatory approvals, clearances, and closing conditions.