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Prisma Health, UnitedHealthcare Reach New Multi-Year Agreement

Prisma Health and UnitedHealthcare (United) have reached a new multi-year agreement.

Officials said the new agreement ensures that Prisma Health hospitals, physician practices and other health care services are in-network for all United Commercial and Medicare Advantage health insurance plans.

“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,” said Mark O’Halla, president and CEO of Prisma Health.

O'Halla added, “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 officials said they are communicating with affected patients to ensure they are aware of the new agreement, which is retroactive to June 1, 2024.

When Prisma Health and UnitedHealthcare failed to reach a contract in January, thousands of patients had to switch health providers or pay out-of-network rates for their care.

UnitedHealthcare, in a statement, said Prisma had demanded “outlandish price hikes” of nearly 20 percent over a year that would “increase health care costs by approximately $50 million for just our employer-sponsored commercial plans.”

In its statement, Prisma said it had sought a 10-percent increase over two years and that UHC failed to submit a “reasonable proposal … that reimburses us for the cost increases we have and continue to absorb for their health plan members.”

It added that it had reached agreements with all other major insurers in the past year.

The new agreement’s terms weren’t disclosed.

Prisma Health is a private nonprofit health company and the largest health care organization in South Carolina. The company has 29,309 team members, 18 acute and specialty hospitals, 2,827 licensed beds, 305 practice sites, and more than 5,400 employed and independent clinicians across its clinically integrated inVio Health Network.

Along with this network, Prisma Health serves almost 1.5 million unique patients annually in its 21-county market area that covers 50 percent of South Carolina.

SC Delegation Attending International Airshow

Secretary of Commerce Harry Lightsey is leading South Carolina at the Farnborough Airshow as the delegation returns to exhibit in the USA Pavilion in Hall 2, Booth #2324.

South Carolina is home to 530 aerospace companies that employee 136,000+ people.

This week, eight S.C. aerospace companies will co-exhibit with the state, working to generate more sales and grow their networks at this important, global trade event.

One of the state’s dominant industries, aerospace products were the Palmetto State’s second largest export in 2023, with Boeing’s Dreamliner and Lockheed Martin’s facilities continuing to put S.C. on the map.

Taking place 22-26 July in Farnborough, England, the International Airshow 2024 will host leading innovators from the aerospace, aviation and defense industries and beyond.

GADC Appoints Max Stewart as New CEO

By Meg Salt

The Greenville Area Development Corporation (GADC) announced the appointment of Max Stewart as its new chief executive officer, effective July 16, 2024.

Officials said Stewart brings more than two decades of experience in economic development and nonprofit leadership, making him an ideal fit to lead GADC in its mission to foster economic growth and development in Greenville County.

“Max Stewart is a visionary leader with a proven track record of driving economic success. His strategic insight and extensive experience in both public and private sectors will be invaluable as we continue to enhance Greenville County’s economic landscape,” said Marshall Franklin, chairman of the GADC Board of Directors. “We are confident that Max’s leadership will bring significant growth and innovation to our community.” 

Stewart joins GADC from the Bradenton Area Economic Development Corporation, where he was vice president of economic development.

During his tenure, Stewart led numerous initiatives that resulted in substantial economic gains for the Bradenton area, located on Florida’s West Coast.

He successfully transitioned the organization into a digital marketing strategy, and secured projects including a landmark project that brought in more than $250 million in capital investment and created 450 jobs — the largest single project in Manatee County’s history.

Said Stewart: “I am honored to join GADC and look forward to leveraging my experience to benefit Greenville County. My focus will be on fostering strong partnerships, driving innovative strategies, and ensuring sustainable growth. Greenville County is a vibrant community with immense potential, and I am excited to contribute to its continued prosperity.” 

At the Bradenton Area EDC and Enterprise Florida, he facilitated international trade relations, organized high-impact trade missions, and supported a number of expansion projects.

Officials said his strategic approach and dedication consistently resulted in significant economic growth and job creation.

Stewart holds a bachelor’s degree in political science from the University of Central Florida.

He has been active in numerous professional organizations, including the Florida Economic Development Council and the International Trade Alliance.

The Greenville Area Development Corporation is a 501(c)(3) organization founded in 2001 by Greenville County Council. 

Regional Economic Snapshot 

Payroll employment in South Carolina increased 6,900 jobs (0.3 percent), on net, in June, according to the Federal Reserve Bank of Richmond.

The professional and business services sector had the largest increase in jobs month-over month (2,600 jobs) followed by education and health services (2,100 jobs), government (1,700 jobs), manufacturing (1,400 jobs), financial activities (200 jobs), and trade, transportation and utilities (200 jobs).

Two sectors in South Carolina lost jobs in June, with construction losing 500 jobs and leisure and hospitality losing 200 jobs.

Other highlights:

* On a year-over-year basis, payroll employment in South Carolina increased by 79,600 jobs (3.5 percent), on net.

* The labor force in South Carolina continues to grow, increasing by an impressive 9,800 in June. The unemployment rate in South Carolina increased to 3.6 percent in June, up from 2.8 percent a year ago.

* Residential permitting activity increased 7.9 percent in South Carolina from April to May and was up 6.2 percent from its level a year ago.

* According to the Federal Housing Finance Agency, home values in South Carolina appreciated 8.3 percent from the fourth quarter of 2022 to the fourth quarter of 2023.

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