Profile: Tenet Healthcare Corp (THC.N)
14 Mar 2014
Tenet Healthcare Corporation (Tenet), incorporated on November 7, 1975, along with its subsidiaries, is an investor-owned health care services company. Tenet operates 77 acute care hospitals, 173 outpatient centers, five health plans and six accountable care organizations. As of October 7, 2013, the Company’s new hospital was under construction in New Braunfels, Texas. In addition, the Company includes Conifer Health Solutions, which provides health business process solutions at 15 service centers serving 600 clients across 43 states. The Company operates in two segments: hospital operations and other, and Conifer. In May 2012, the Company sold Diagnostic Imaging Services, Inc., its former diagnostic imaging center business in Louisiana. In August 2012, the Company sold its Creighton University Medical Center in Nebraska. In October 2013, Tenet Healthcare Corporation completed its acquisition of Vanguard Health Systems, Inc.
At December 31, 2012, the Company's subsidiaries operated 77 hospitals, including three academic medical centers, a children's hospital and a critical access hospital, with a total of 13,216 licensed beds, serving primarily urban and suburban communities in 10 states. Of those hospitals, 44 were owned by the Company's subsidiaries and five were owned by third parties and leased by its subsidiaries. In addition, as of December 31, 2012, the Company's subsidiaries operated a long-term acute care hospital and owned or leased and operated 30 medical office buildings, all of which were located on, or nearby, its hospital campuses. The Company's subsidiaries also operated 173 outpatient centers in 11 states as of December 31, 2012, including diagnostic imaging centers, ambulatory surgery centers and urgent care centers, among others.
The Company's hospitals also offer tertiary care services, such as open-heart surgery, neonatal intensive care and neurosciences. Three of the Company's hospitals: North Shore Medical Center, St. Louis University Hospital and Hahnemann University Hospital offer quaternary care in areas, such as heart, liver, kidney and bone marrow transplants. St. Christopher's Hospital for Children provides tertiary and quaternary pediatric services, including bone marrow and kidney transplants, as well as burn services. Sierra Medical Center, Good Samaritan Medical Center and North Shore Medical Center offers gamma-knife brain surgery, and Brookwood Medical Center, North Shore Medical Center, Saint Francis Hospital and St. Louis University Hospital offers cyberknife radiation therapy for tumors and lesions anywhere in the body, including in the brain, lung, neck and spine.
The Company's Conifer subsidiary provides a range of services primarily to health care providers. As of December 31, 2012, Conifer provided one or more of the business process services to more than 600 Tenet and non-Tenet hospital and other clients nationwide. Tenet focuses to continue to provide its revenue cycle management, patient communications services and management services. Conifer provides operational management for patient access, health information management, revenue integrity and patient financial services, including: centralized insurance and benefit verification, financial clearance, pre-certification, registration and check-in services; financial counseling services, including reviews of eligibility for government health care programs, for both insured and uninsured patients; productivity and quality improvement programs, revenue cycle assessments and optimization recommendations, and Joint Commission and other preparedness services; coding and compliance support, billing assistance, auditing, training, and data management services at every step in the revenue cycle process; accounts receivable management, third-party billing and collections, and ongoing measurement and monitoring of key revenue cycle metrics.
Conifer offers patient communications solutions to optimize the relationship between providers and patients. Conifer's service offerings have recently expanded to support performance through clinical integration, financial risk management and population health management, all of which support hospitals, physicians, accountable care organizations, health plans and employers in health care delivery, as well as patient outcomes.
As of December 31, 2012, the Company's subsidiaries also operated 30 medical office buildings, all of which were located on, or nearby, its hospital campuses. Of those medical office buildings, 23 were owned by the Company's subsidiaries and seven were owned by third parties and leased by its subsidiaries.
Tenet Healthcare Corp
Suite 1400, 1445 Ross Avenue
DALLAS TX 75202