Health Net Federal Services Awarded New VA Contract
New VA Program, Patient Centered Community Care, offers Veterans access to Civilian Network
ARLINGTON, Va.--(BUSINESS WIRE)-- Health Net Federal Services, LLC, a wholly owned subsidiary of Health Net, Inc. (NYS: HNT) , today announced the Department of Veterans Affairs (VA) has awarded Health Net Federal Services a contract under its new Patient Centered Community Care program.
This new program provides eligible Veterans coordinated, timely access to care through a comprehensive network of non-VA providers who meet VA quality standards when a local VA Medical Center cannot readily provide the care. Health Net will support VA in providing care to veterans in three of the six Patient Centered Community Care regions. These three regions - Regions 1, 2 and 4 - encompass all or portions of 37 states, Puerto Rico and the Virgin Islands.
"Health Net is honored to be selected by the Department of Veterans Affairs to help ensure Veterans have timely access to quality care when local VA Medical Centers cannot provide those services directly," said Tom Carrato, president, Health Net Federal Services. "Our network of specialty providers welcomes the opportunity to give back to our Veterans by serving those who have served."
Carrato added, "Over the last 25 years, Health Net Federal Services has built long-standing partnerships with the Department of Defense and Department of Veterans Affairs based upon its understanding of military and Veteran issues."
Health Net Federal Services has administered several contracts for VA. These include VA Community Based Outpatient Clinics throughout the U.S. that provide primary, preventive and behavioral health care to Veterans of all ages and military backgrounds; the VA Outpatient Recovery Audit that identified overpayments made by the VA to non-VA providers, helping to maximize care to Veterans through proper payments; and the VA's Rural Mental Health program, a pilot program designed to provide behavioral health services to Veterans in rural counties.
Additionally, Health Net serves the Department of Defense as the managed care support contractor for the TRICARE North Region, as well as a contractor for the Military and Family Life Counseling program, which provides short-term, non-medical, solution-focused counseling to service members and their families.
About Health Net
Health Net, Inc. 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 5.4 million individuals across the country through group, individual, Medicare (including the Medicare prescription drug benefit commonly referred to as "Part D"), Medicaid, U.S. Department of Defense, including TRICARE, and Veterans Affairs programs. Through its subsidiaries, 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.
This release contains references and links to websites that are not owned or controlled by Health Net. Please be aware that such references and links are provided for the user's convenience and Health Net is not responsible for the content or properties of such websites. Health Net does not express an opinion on the content or properties of such websites and disclaims any liability in connection therewith.
Health Net, Inc. 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 press releases, in presentations, filings with the Securities and Exchange Commission ("SEC"), reports to stockholders and in meetings with investors and analysts. All statements in this press release, 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 regulation of health benefits and managed care operations, including the ultimate impact of the Affordable Care Act, which could materially adversely affect Health Net's financial condition, results of operations and cash flows through, among other things, reduced revenues, new taxes, expanded liability, and increased costs (including medical, administrative, technology or other costs), and require changes to the ways in which Health Net does business; rising health care costs; continued slow economic growth or a further decline in the economy; negative prior period claims reserve developments; trends in medical care ratios; membership declines; unexpected utilization patterns or unexpectedly severe or widespread illnesses; rate cuts and other risks and uncertainties affecting Health Net's Medicare or Medicaid businesses; Health Net's ability to successfully participate in California's Coordinated Care Initiative, the Affordable Care Act's health insurance exchanges and/or Arizona's Medicaid program; litigation costs; regulatory issues with federal and state agencies including, but not limited to, the California Department of Managed Health Care, 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; failure to effectively oversee our third-party vendors; noncompliance by Health Net or Health Net's business associates with any privacy laws or any security breach involving the misappropriation, loss or other unauthorized use or disclosure of confidential information; liabilities incurred in connection with Health Net's divested operations; impairment of Health Net's goodwill or other intangible assets; 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 Health Net's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC and the other risks discussed in Health Net'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, Health Net undertakes no obligation to address or publicly update any of its forward-looking statements to reflect events or circumstances that arise after the date of this press release.
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