Hospital operator Tenet Healthcare Corp. said Tuesday it signed a new agreement with Cigna Corp. that gives the health insurer’s customers access to all Tenet hospitals and expands on a previous deal between the companies, The Associated Press reports.
Tenet, which is based in Dallas, said the multiyear agreement also includes doctors employed by Tenet and gives Cigna customers access to all of Tenet’s freestanding diagnostic imaging and ambulatory surgery centers.
The deal also adds a provision that allows hospitals to receive higher reimbursement based on “certain quality performance metrics,” Tenet said in a statement.
Terms of the deal were not disclosed.
Cigna, which is based in Philadelphia and has operations in Bloomfield, is the fourth largest U.S. commercial health insurer based on enrollment, with more than 11 million members nationally. Tenet operates 49 acute care hospitals and 59 outpatient centers in 11 states, mostly in the southeastern United States.
Shares of Cigna fell $1.18, or 3.6 percent, to $32.01 in Tuesday afternoon trading. Tenet stock dropped about 20 cents, or 4.3 percent, to $4.46, while broader trading indexes slid more than 2 percent.
