TENET ANNOUNCES JOINT VENTURE WITH MED3OOO, INC.
MED3OOO Practice Resources will provide management and technology solutions for physician practices
5/29/2009
Tenet Healthcare Corporation (NYSE: THC) announced the creation of MED3OOO Practice Resources, LLC, a joint venture between MED3OOO, Inc. and a subsidiary of Tenet, which is a 20 percent minority owner. Founded in 1995, MED3OOO, Inc. is a national leader in providing advanced healthcare management and technology to physicians and physician networks.
The new joint venture will initially focus on providing services to physician practices in the 12 states where Tenet operates, including the majority of employed physicians at Tenet hospitals. MED3OOO Practice Resources will provide health information technology (including practice management systems, electronic health records and personal health records) and management services (including revenue cycle management, group purchasing and comprehensive practice and data management).
“As Tenet continues to improve the value proposition our hospitals provide to the growing number of affiliated and employed physicians joining our active medical staffs, this new joint venture will offer an expanded array of services that are increasingly needed by physicians and their practice managers,” said Stephen L. Newman, M.D., Tenet’s chief operating officer. “The services of MED3OOO Practice Resources will allow physicians to manage their business operations more efficiently, thereby improving their ability to focus on providing high-quality patient care.”
“MED3OOO remains focused on physician success to improve financial and clinical outcomes,” said Patrick Hampson, chairman and chief executive officer of MED3OOO, Inc. “In our new joint-venture, MED3OOO Practice Resources will provide our ‘M/36O’ full-spectrum approach to integrated processes, applications, workflows, data and decision support that can help physicians and employers better manage the health of their populations. With the implementation of operational improvements, we can improve financial results while increasing physician and patient satisfaction.”
Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related ancillary health care businesses, which include ambulatory surgery centers and diagnostic imaging centers. Tenet’s hospitals and related health care facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com.
MED3OOO is a national leader in providing advanced healthcare management and technologies to physicians, physician networks, employers and government municipalities who are focused on improving performance and adding value to the delivery of healthcare. Founded in 1995, MED3OOO provides services to more than 15,000 physicians, employers, and government EMS providers, and has become one of the largest and most advanced healthcare services, technology and information management companies in the United States. For more information, please visit www.MED3000.com or contact Karla Sartori, Corporate Marketing, at Karla_Sartori@MED3000.com or (412) 937-8887.
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Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended Dec. 31, 2008, our quarterly reports on Form 10-Q and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
