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Aetna Signs Contract Extension with University of Pennsylvania Health System

^{Published on 2010-09-16 13:15:44 - Market Wire}
 

PHILADELPHIA--([ BUSINESS WIRE ])--Aetna (NYSE: AET) announced today that it has signed a five-year contract extension with the University of Pennsylvania Health System (UPHS), assuring continued in-network access for its members in the Philadelphia area.

"We are pleased to be able to continue to care for Aetna subscribers at Penn Medicine. This contract will enable Aetna members to have access to the most advanced medical care in the region"

Under this new agreement, which took effect July 15, Aetna members will be able to continue receiving covered services, at in-network rates, from The Hospital of the University of Pennsylvania, Presbyterian Medical Center and Pennsylvania Hospital. The agreement also covers 1,500 primary care and specialist physicians in Pennsylvania and southern New Jersey.

aAetna is very happy to announce that our relationship with the University of Pennsylvania system has been extended an additional five years,a said Robert Kleman, Aetnaa™s vice president of network management for Southeast Pennsylvania. aPenn has been an integral part of Aetnaa™s network of contracted hospitals and physicians in the Philadelphia area for several years, and wea™re pleased that our members will be able to continue accessing care from their hospitals and doctors.a

aWe are pleased to be able to continue to care for Aetna subscribers at Penn Medicine. This contract will enable Aetna members to have access to the most advanced medical care in the region,a said Roy Schwartz, associate vice president, Managed Care and Payor Relations, for UPHS.

Aetna provides health benefits to more than 1 million people in Pennsylvania. In Southeast Pennsylvania, members have access to a network that includes 67 contracted hospitals and more than 18,000 primary care physicians and specialists.

Penn Medicine is one of the worlda™s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, and excellence in patient care. Penn Medicine consists of the University of Pennsylvania School of Medicine (founded in 1765 as the nation's first medical school) and the University of Pennsylvania Health System, which together form a $3.6 billion enterprise.

About Penn Medicine

Penn Medicinea™s patient care facilities include: The Hospital of the University of Pennsylvania; Penn Presbyterian Medical Center; and Pennsylvania Hospital

a [ The Hospital of the University of Pennsylvania ]a" the nationa™s first teaching hospital, recognized as one of the nationa™s top 10 hospitals by U.S. News & World Report.

a [ Penn Presbyterian Medical Center ]a" named one of the top 100 hospitals for cardiovascular care by Thomson Reuters for six years.

a [ Pennsylvania Hospital ]a" the nationa™s first hospital, founded in 1751, nationally recognized for excellence in orthopaedics, obstetrics & gynecology, and behavioral health.

Additional patient care and services include Penn Medicine at Rittenhouse, a Philadelphia campus offering inpatient rehabilitation and outpatient care in many specialties; as well as a primary care provider network; a faculty practice plan; home care and hospice services; and several multi-specialty outpatient facilities across the Philadelphia region.

About Aetna

Aetna is one of the nationa™s leading diversified health care benefits companies, serving approximately 35.8 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional 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.[ www.aetna.com ]