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May 31, 2005
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MHMR May 31, 2005; Volume 13, Number 10
SPECIAL REPORT: Managed Behavioral...Behavioral pushes new products...Magellan, ValueOptions, United, Cigna, MHN, PacifiCare, Horizon, CompCare...Chart: managed behavioral lives...Tufts CEO resigns...WellPoint to acquire Atrium...Amerigroup may exit IL...Aetna expands MA to Kern, CA...Molina completes San Diego deal...Cigna Pharmacy taps Shafer...Health Net names northeast VPs...People...HMO stocks rise 6%...Services stocks rise 2%...Priority to acquire SpectraCare...and more...
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TUFTS CEO, COO RESIGN
Tufts Health Plan chief executive Nancy Leaming and chief operating officer Rich Hallworth have resigned under mutual agreement with the company’s board of directors in the wake of continued operating losses and falling membership.
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WELLPOINT TO ACQUIRE ATRIUM
WellPoint Inc. (Indianapolis) will acquired Atrium Health Plan (Hudson, WI), a unit of Blue Cross Blue Shield of Minnesota serving 52,000 group and individual HMO and PPO lives in 28 counties in northern and western Wisconsin.
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AMERIGROUP MAY EXIT IL MEDICAID MARKET
Amerigroup Corp. (Virginia Beach, VA) said there is no guarantee that it will continue to participate in Illinois’ voluntary managed Medicaid program, following the state’s decision to reduce funding by $70 million.
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BEHAVIORAL PLANS PUSH NEW PRODUCTS
With growth in their core business stagnant, managed behavioral companies continue to launch new products and specialty services to drive revenue growth, including disease management, addiction counseling, return-to-work coaching, domestic abuse counseling, psychotropic drug management, and the treatment of the psychological fallout of certain medical conditions.
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AETNA TO OFFER MEDICARE ADVANTAGE IN KERN, CA
Aetna Inc. (Hartford, CT), which by 2006 hopes to expand to 13 from five the number of counties in which it offers Medicare Advantage plans, announced that it will return to Kern County, CA, with individual Medicare Advantage plan options effective June 1, 2005.
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PRIORITY TO ACQUIRE SPECTRACARE
Priority Healthcare Corp. (Lake Mary, FL) announced a definitive agreement to acquire the specialty infusion operations of SpectraCare Inc. (Louisville, KY), which generated $32 million in revenues in 2004.
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