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February 15, 2005
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MHMR Feb. 15, 2005; Volume 13, Number 3
SPECIAL REPORT: At UBS...MCOs confident about 2005...Aetna, Centene, Health Net, Humana, Molina, PacifiCare, Sierra, UnitedHealth, WellChoice, WellPoint...SPECIAL REPORT: 4Q04 MCO Financial Results...4Q04 MCO net up 15%...Aetna, Cigna, Health Net, Humana, WellChoice, WellPoint...IL HMO profits rise 58%...MA HMO profits fall 20%...Health Net settles provider claims...PacifiCare ready for Part D risk...Anderson to head Ingenix...HMO stocks rise 3%...HMO services stocks fall 2%...and more...
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4Q04 MCO NET UP 15%; GROWTH SLOWS
A tally of 11 managed care organizations that have reported fourth-quarter 2004 results to date shows that net income for the quarter rose 15% to $1.325 billion on revenues of $34.906 billion, up 22%.
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IL HMO PROFITS RISE 58%
Illinois HMOs reported net income of $111.769 million through the first nine months of 2004, up 58% compared to the same period a year earlier, according the an MHMR tally of state insurance department data for 16 top health plans.
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MA HMO PROFITS FALL 20%
Massachusetts HMOs reported a 20% decline in net income to $143.257 million through the first nine months of 2004, compared to the same period a year earlier, according to an MHMR of state data.
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HEALTH NET SETTLES PROVIDER CLAIMS
Health Net (Woodland Hills, CA) took a $242 million cash charge in the fourth-quarter of 2004, of which $169 million went toward settlement of provider claims disputes dating back to 2001, according to Buddy Piszel, chief financial officer.
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PACIFICARE READY FOR PART D RISK
PacifiCare Health Systems (Cypress, CA) expects to be a major player in the Medicare Part D drug program, according to Greg Scott, chief financial officer, who added that the company is “comfortable taking risk under the program.”
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AT UBS: MCOs CONFIDENT ABOUT ‘05
Managed care organizations presenting at the UBS Global Healthcare Services Conference in New York, Feb 14-16, expressed confidence that 2005 would be another strong year, with gains in both membership and profitability among the top plans.
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UNITED NAMES ANDERSON CEO OF INGENIX
UnitedHealth Group (Minnetonka, MN) has named Richard Anderson chief executive of the company’s Ingenix data warehousing operation, according to chairman William McGuire, M.D.
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