Nobilis Health Corp. (NYSE American: HLTH) (“Nobilis” or the “Company”) announced today that it has entered into an in-network contract (“Payor Agreement”) at Plano Surgical Hospital with one of the nation’s largest commercial payors. The Payor Agreement went effective January 1, 2019. This facility will now be in network with three of the nation’s four largest commercial payors.
“The execution of this agreement represents another significant step in our long-stated goal of becoming a comprehensive in network health system,” said James Springfield, incoming CEO. “Nobilis has worked to move our facilities in network on a revenue neutral basis. The added benefits to our shareholders of moving in network will be the increased predictability and speed of collections as well as opening up a new market of “in network only” surgeons that we can attract to our facilities. This contract will put us at approximately 60% in network in Texas as we begin 2019. We continue to make progress in our negotiations with the nation’s largest payors and hope to have more to announce on this matter in the near future.”
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