Tenet Healthcare Corp, a Nevada corporation was incorporated in 1975. It is an investor-owned company whose subsidiaries and affiliates operate regionally health care delivery networks with a presence in several urban and suburban markets. At the core of its networks are acute care and specialty hospitals that, together with its strategically aligned outpatient facilities and related businesses, allow them to provide a comprehensive range of health care services in the communities it serves. The Company operated 86 hospitals, 475 outpatient centers, six health plans, six accountable care networks and Conifer Health Solutions, LLC ("Conifer"), which provides business process solutions to more than 700 hospital and other clients nationwide. It provides comprehensive operational management for revenue cycle functions, including patient access, health information management, revenue integrity and patient financial services. It also offers communications and engagement solutions to optimize the relationship between providers and patients. In addition, its management services offerings have expanded to support value-based performance through clinical integration, financial risk management and population health management. For financial reporting purposes, its business lines are classified into two separate reportable business segments - hospital operations and other, and Conifer. Its subsidiaries operated 86 hospitals, including four academic medical centers, two children's hospitals, three specialty hospitals and a critical access hospital, with a total of 22,525 licensed beds, serving urban and suburban communities in 14 states. Of those hospitals, 67 were owned by its subsidiaries, and five were owned by third parties and leased by its subsidiaries. In addition, its subsidiaries operated a long-term acute care hospital and owned or leased and operated a number of medical office buildings, all of which were located on, or nearby, its hospital campuses. The Company also owns or controls six accountable care networks - in Florida, California, Illinois, Michigan and Texas - and participates in two additional accountable care networks through collaborations with other health care providers in its markets in Arizona and Massachusetts. These networks operate using a range of payment and delivery models that seek to align provider reimbursement in a way that encourages improved quality metrics and efficiencies in the total cost of care for an assigned population of patients through cooperation of the providers. The Company's health plans are subject to state and federal laws and regulations. Both federal and state government agencies continue heightened and coordinated civil and criminal enforcement efforts against the health care industry.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.