Conifer Health Solutions, Tenet Healthcare's revenue cycle management arm, has lined up a 10-year contract to provide services to five Alabama hospitals the health system plans to sell to Orlando (Fla.) Health.
The proposed $910 million deal, projected to close in the fall, would see Tenet give up its 70% majority interest in the hospitals. The transaction marks the fifth new or expanded revenue cycle partnership for Conifer in 2024.
Five things to know:
1. This year, Conifer has announced new revenue cycle partnerships with Roseville, Calif.-based Adventist Health, Winston-Salem, N.C.-based Novant Health and Orange, Calif.-based UCI Health. The company also expanded a deal with Lebanon, N.H.-based Dartmouth Health.
2. Tenet combined Conifer and its hospital operations into a single operating segment earlier this year "to reflect recent updates to the organizational and management structure of Conifer and hospital operations," William McDowell, vice president of investor relations at Tenet, said during the company's first-quarter financial earnings call.
3. Conifer provides RCM and value-based care services to 660 clients across the U.S., managing $25 billion in net patient revenue a year and supporting care management for 5.9 million people.
4. Tenet expects Conifer to continue to support and grow relationships with existing clients while also generating new business.
5. "The need for efficient, effective healthcare services like those from Conifer are strong in the marketplace" and helps Tenet thrive "in any variety of political and regulatory environments," Tenet CEO Saum Sutaria, MD, said July 24 during the company's second-quarter earnings call.