Aetna and Stellaris Health Network Sign Multi-Year Contract

Nov 16 2011
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Dateline City:
NEW YORK

— Three-year deal keeps four Westchester County Hospitals in Aetna’s network —

NEW YORK–(BUSINESS WIRE)–Stellaris Health Network and Aetna (NYSE: AET) today announced a new multi-year agreement that will keep all four of the Stellaris Health Network’s Westchester County hospitals in Aetna’s network. Aetna’s commercial and Medicare health plan members will be able to continue receiving covered inpatient and outpatient health care services, at preferred, in-network rates.

The new agreement involves the Lawrence Hospital Center, Northern Westchester Hospital, Phelps Memorial Hospital Center and White Plains Hospital Center. The agreement also keeps the employed and voluntary physicians and health care providers at the Stellaris hospitals as participating network providers.

Under the new agreement, Aetna will provide performance-based incentives to the Stellaris Network for both quality of care and efficiency, such as reductions in readmissions for the same injury or illness. Models for rewarding demonstrated quality and outcomes will serve as a framework for Aetna’s partnerships with other community hospitals and systems.

“Retaining the Stellaris Hospitals and reaching a new contract that rewards the hospital for quality of care is a win not only for Aetna and Stellaris, but also for our customers and members in Westchester County,” said David Kobus, senior vice president, Aetna New York Network. “We look forward to working in cooperation with Stellaris to help achieve positive health outcomes for our members who are Stellaris patients.”

“We are very pleased to have reached this new agreement which will provide Aetna’s members with continued access to Westchester’s preeminent network of community hospitals and physicians. We are especially proud to be leading the market in partnering on innovative performance-based and risk-sharing arrangements. We look forward to our ongoing relationship with Aetna,” said Arthur A. Nizza, President and CEO of Stellaris.

About Stellaris Health Network

Based in Armonk, NY and founded in 1996, HealthStar Network, Inc. (dba Stellaris Health Network) is the corporate parent of Lawrence Hospital Center (Bronxville, NY), Northern Westchester Hospital (Mount Kisco, NY) Phelps Memorial Hospital Center (Sleepy Hollow, NY), and White Plains Hospital Center (White Plains, NY). In addition to the network of hospitals and employed physicians, Stellaris provides ambulance and municipal paramedic services to Westchester County, New York through Westchester Emergency Medical Services. With nearly $900 million dollars in combined revenue and 1,100 in-patient beds, Stellaris Hospitals account for over a third of the acute care bed capacity in Westchester County. It is one of the largest area employers, with over 6,000 employees and approximately 2,200 voluntary physicians on staff. The Stellaris Hospitals provide multidisciplinary acute care services as well as a range of community based services such as hospice, home health, behavioral health and physical rehabilitation. As Stellaris pursues new programs and joint ventures, it will continue to evolve as the regions’ leading healthcare system, dedicated to preserving high quality, community-based care for residents of Westchester, Putnam, Rockland, Dutchess, Northern Bronx, and Fairfield Counties.

About Aetna

Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 36.3 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.

Language:
English

Contact:

Aetna Media Contact:
Susan Millerick, 860-273-0536
MillerickS@aetna.com
or
Stellaris Media Contact:
Dean Bender, 914-762-1900
dean@thompson-bender.com

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Ticker:
AET

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NYSE