Prisma Health and UnitedHealthcare Sign a New Multi-Year Agreement
Greenville, SC – In major business news, Prisma Health and UnitedHealthcare (United) have announced their newest multi-year agreement. Officials have stated that the agreement guarantees in-network access to all Prisma Health hospitals, physician practices, and other medical services for all United Commercial and Medicare Advantage health insurance policyholders.
Prisma Health’s Stance on the Agreement
Speaking on the deal, Mark O’Halla, the President and CEO of Prisma Health, said, “I am pleased that United agreed to equitable reimbursement that reflects the increased costs we incur for the provision of medical care to our patients. These terms will allow us to prioritize patients’ needs and provide our physicians and hospitals with the resources required to deliver high-quality health care to United health plan members.”
Prisma Health’s Communication with Affected Patients
Prisma Health has taken the initiative to communicate with the patients who will be impacted by the new agreement. It’s important to note that the new agreement is retroactive to June 1, 2024. Following a failed contract negotiation in January resulting in thousands of patients switching health providers or incurring out-of-network rates for their health care, this agreement is a welcome change.
Prisma Health and UnitedHealthcare Dispute
UnitedHealthcare previously accused Prisma of demanding an unjustifiable price increase of nearly 20 percent over the course of a year. According to United, this would inflate health care costs by approximately $50 million for their employer-sponsored commercial plans. However, Prisma countered by stating they had sought a 10-percent increase over two years and accused UHC of failing to provide a reasonable offer.
About Prisma Health
Prisma Health is a private nonprofit health firm that sits atop the South Carolina health care sector. The organization boasts impressive numbers, including 29,309 team members, 18 hospitals, 305 practice sites and more than 5,400 employed and independent clinicians across its clinically integrated network, InVio Health Network. With its vast resources, Prisma Health annually serves almost 1.5 million unique patients in a 21-county market area covering half of South Carolina.
South Carolina at the Farnborough Airshow
Moving on from health care, South Carolina’s Secretary of Commerce, Harry Lightsey, is leading the state’s delegation at the Farnborough Airshow, where eight local aerospace companies will exhibit their products. The Palmetto State’s strength in the industry comes from being home to 530 aerospace companies that employ over 136,000 people.
New CEO Appointment at The Greenville Area Development Corporation
The Greenville Area Development Corporation (GADC) has recently appointed Max Stewart as its new CEO, effective July 16, 2024. He brings more than two decades of experience in economic development and nonprofit leadership to the table, making him a suitable fit to spearhead GADC’s mission of fostering economic growth in Greenville County. Previously, he served at the Bradenton Area Economic Development Corporation as vice president, leading numerous initiatives resulting in significant economic strides for the area.
A look at South Carolina’s Economic Dynamism
On a closing note, South Carolina’s robust economic momentum is worth a look. According to the Federal Reserve Bank of Richmond, payroll employment in the state increased by 6,900 jobs in June alone, which is a 0.3 percent net increase. Major sectors contributing to job increase included professional and business services, education, health services, government, manufacturing, financial activities, and trade. Two sectors, construction, and leisure and hospitality, did see losses. On a yearly basis, net payroll employment in South Carolina increased by 79,600 jobs. The state’s unemployment rate is presently at 3.6 percent, up from 2.8 percent last year, with a growing labor force.
