Vanguard Health Systems’ Phoenix Health Plan Subsidiary Accepts a Capped
Contract in Maricopa County
NASHVILLE, Tenn. -- April 02, 2013
Vanguard Health Systems, Inc. (NYSE: VHS) (the “Company”) today announced that
its Phoenix, Arizona health plan subsidiary, VHS Phoenix Health Plan, LLC
(“PHP”), agreed with the Arizona Health Care Cost Containment System
(“AHCCCS”) on the general terms of a capped contract for Maricopa County for
the three-year period commencing October 1, 2013. Approximately 98,300 of
PHP’s members resided in Maricopa County as of December 31, 2012. Pursuant to
the terms of PHP’s agreement with AHCCCS, PHP will not file a protest of any
of AHCCCS’ decisions. In addition, PHP agreed that enrollment will be capped
effective October 1, 2013 and the enrollment cap will not be lifted at any
time during the total contracting period, except in AHCCCS’ discretion if
certain conditions occur as outlined in the original request for proposal.
AHCCCS has also indicated that it intends to hold an open enrollment for PHP
members in Maricopa County sometime in calendar year 2014.
About Phoenix Health Plan, www.phoenixhealthplan.com
In partnership with the Arizona Health Care Cost Containment System (AHCCCS),
Phoenix Health Plan (PHP) makes it easy for its members to access care from
more than 12,350 physicians and providers, nearly 50 hospitals and 860
pharmacies across the State of Arizona. We are proud to serve over 186,000 PHP
members across nine Arizona counties: Apache, Coconino, Gila, Maricopa,
Mohave, Navajo, Pima, Pinal, and Yavapai. Headquartered in Phoenix, Arizona,
PHP employs over 350 employees across Arizona. PHP is proud to have served
Arizona residents since 1983.
About Vanguard Health Systems, www.vanguardhealth.com
The Company owns and operates 28 acute care and specialty hospitals and
complementary facilities and services in metropolitan Chicago, Illinois;
metropolitan Phoenix, Arizona; metropolitan Detroit, Michigan; San Antonio,
Texas; Harlingen and Brownsville, Texas; and Worcester and metropolitan
Boston, Massachusetts. The Company’s strategy is to develop locally branded,
comprehensive health care delivery networks in urban markets.
Cautionary Statement about Forward –Looking Information
This press release contains "forward-looking statements" within the meaning of
the federal securities laws that are intended to be covered by safe harbors
created thereby. Forward-looking statements are those statements that are
based upon management's current plans, objectives, goals, strategies,
intentions and expectations that is not historical information, and are
identified in this release by use of words including but not limited to
“estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,”
“believes,” “forecasts,” “continues” or future or conditional verbs, such as
“will,” “should,” “could” or “may,” and variations of such words or similar
expressions. These statements are based upon estimates and assumptions made by
the Company's management that, although believed to be reasonable, are subject
to numerous factors, risks and uncertainties that could cause actual outcomes
and results to be materially different from those expressed in any
forward-looking statements. These factors, risks and uncertainties are more
fully described in the Company’s filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year ended June
30, 2012, our Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
As a result of these factors, risks and uncertainties, readers are cautioned
not to place undue reliance on any forward-looking statements. The Company
undertakes no obligation to revise or update any forward-looking statements,
or to make any other forward-looking statements, whether as a result of new
information, future events or otherwise.
Vanguard Health Systems, Inc.
Phillip Roe, 615-665-6005
Chief Financial Officer
Vanguard Health Systems
Gary Willis, 615-665-6098
Chief Accounting Officer
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