July 26, 2019

Around the nation: Tenet Healthcare will spin off revenue cycle subsidiary

Daily Briefing

    Tenet CEO Ron Rittenmeyer said selling the subsidiary would have been Tenet's first choice but that the decision to move forward with a spinoff is "a no-brainer" from a "shareholder standpoint," in today's bite-sized hospital and health industry news from Massachusetts, Ohio, and Texas.

    • Massachusetts: Harvard Pilgrim Health Care and Landmark Health have entered into an agreement to offer a care coordination program for Medicare Advantage (MA) members with complex health and social needs. The program will be offered at no cost to MA members with multiple chronic conditions living in Middlesex, Worcester, Suffolk, Norfolk, Essex, Bristol, and Plymouth counties (Lagasse, Healthcare Finance News, 7/24).

    • Ohio: Cleveland Clinic will be using a $23 million gift from the Jack, Joseph, and Morton Mandel Foundation to strengthen its leadership development program, which it's renaming the Mandel Global Leadership and Learning Institute. The gift will also be used to create the Jack, Joseph, and Morton Mandel Global Leadership and Learning Pathway, a program that will train Cleveland Clinic caregivers for future executive leadership roles within the health system (Ellison, Becker's Hospital CFO Report, 7/24).

    • Texas: Tenet Healthcare on Wednesday announced the company will spin off its revenue cycle subsidiary, Conifer Health Solutions, as a separate, publicly traded company. CEO Ron Rittenmeyer said selling the subsidiary would have been Tenet's first choice but that the decision to move forward with the spinoff is "a no-brainer" from a "shareholder standpoint" (Bannow, Modern Healthcare, 7/24; Porter, HealthLeaders Media, 7/24).

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