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Managed Care Companies
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SIERRA WINS NV MEDICAID CONTRACT
Sierra Health Services (Las Vegas, NV) received notice from the Nevada Division of Healthcare Finance that it would be awarded a two-year contract effective July 1, 2006 to serve Medicaid members in the state, pending negotiation of final contract terms.
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NJ HMO NET INCOME INCREASES 5.5% IN 2004
New Jersey HMOs reported a 5.5% increase in 2004 net income to $205 million on revenues of $7.75 billion, up 9%, according to an MHMR tally of state insurance department data.
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GA HMO NET INCOME SINKS 13.7% IN 2004
Georgia HMOs reported 2004 net income of $71.2 million, down 13.7%, on revenues of $3.051 billion, up 4.3%, according to an MHMR tally of state insurance department data.
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HEALTH NET RAISES 2006 EARNINGS PROJECTION
Health Net (Woodland Hills, CA) said it expects 2006 earnings per share in the range of $2.90 to $3.10 ($337.9 million to $361.2 million based on 116.5 million diluted shares). The estimate includes expected costs of $0.10 to $0.12 per share for expensing stock options.
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MVP NAMES BRUBAKER EVP, COMBS CFO
MVP Health Care (Schenectady, NY), which is merging with Preferred Care (Rochester, NY), announced that Lisa Brubaker will hold the newly created position of executive vice president, Rochester and government programs upon completion of the merger of the two not-for-profit companies; she is currently Preferred Care’s senior vice president and chief operating officer.
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UNITEDHEALTH CLAIMS 1 MM+ PART D LIVES
UnitedHealth Group (Minnetonka, MN) announced that already more than 1 million Medicare beneficiaries were committed to participate in the company’s Part D drug plans, including a plan endorsed by the AARP (MHMR, Sept 30).
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