Tenet Healthcare Corp. has said that it believes the share of exchange business that UnitedHealth Group Inc. currently holds will be absorbed once the latter exits the market.
According to Reuters, UnitedHealth, which is one of the largest sellers of plans on the exchanges, plans to stop selling individual insurance coverage through the program next year in most states. Losses are the reason for its decision, the company said.
Tenet, for its part, has done well, picking up quite a bit of business at its hospitals — it’s the third-largest U.S. for-profit operator of hospitals — from patients who now have insurance thanks to Affordable Care Act exchanges. On May 2 the company said that, in the first quarter of the year, hospital admissions of patients covered through the exchanges increased more than 27 percent compared with the same period last year.
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