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March 31, 2006
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MHMR March 31, 2006; Volume 14, Number 6
OH picks Medicaid plans...MI HMO net jumps 16%...BCBS-NC ’05 net rises 7%...TX has most PDP lives...Chart: Ohio Medicaid lives...Molina names Wehr NM CEO...Chart: MI HMO financials...In brief: WellPoint...CO ’05 HMO net income falls...Chart: CO HMO financials...United unlikely to do big merger...HMO stocks rise 2%...Services stocks rise 3%...Chart: PDP lives, top states...Bigl resigns from NMHCS board...Healthways boosts ’06 outlook...Matria affirms ’06 profit forecast...and more...
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MI HMO NET INCOME JUMPS 16.4% IN 2005
Michigan HMOs boosted net income 16.4% to $272.3 million on revenues of $7.322 billion, up 10.5% in 2005, according to an MHMR tally of state insurance department data for 26 health plans.
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BCBS-NC ’05 NET INCOME RISES 7%
Blue Cross Blue Shield of North Carolina (Durham, NC) reported 2005 net income of $167.552 million, up 7%, on revenues of $3.761 billion, up 12%.
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TX HAS MOST MEDICARE PDP DRUG LIVES
With 342,437 voluntary enrollees in stand-alone Medicare Part D prescription drug programs, the state of Texas led the nation, according to data from the Centers for Medicare & Medicaid Services (Washington).
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IN BRIEF: WELLPOINT
WellPoint Inc. (Indianapolis) said it would hire more than 120 customer service representatives for a new senior services call center serving its Anthem Blue Cross Blue Shield of Colorado operation. The new call center will be located in Denver.
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CO HMO NET INCOME DECLINES 26.5% IN 2005
HMOs in Colorado posted a 26.5% decline in net income to $117.439 million in 2005, while revenues increased 2.1% to $3.38 billion, according to a MHMR tally of state insurance department data on 11 leading plans.
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UNITEDHEALTH UNLIKELY TO PURSUE LARGE ACQUISITION
UnitedHealth Group (Minnetonka, MN) said it is unlikely to pursue the acquisition of any “large, multi-site health benefits providers in 2006,” according to a March 26 filing with the Securities & Exchange Commission.
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BIGL RESIGNS FROM NMHCS BOARD
James Bigl, chairman of National Medical Health Card Systems (Pt. Washington, NY), has resigned. He has been replaced by G. Harry Durity, 59, a retired ADP Inc. executive who joined the NMHCS board in 2004. Bigl was chief executive of NMHCS from 2002 to 2004.
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HEALTHWAYS BOOSTS FISCAL ’06 PROFIT OUTLOOK
Despite a decline in net income through the six months ended Feb. 28, Healthways (Nashville, TN) has increased its fiscal 2006 earnings forecast to between $1.16 and $1.19 per share ($42.1 million to $43.2 million based on 36.3 million diluted shares) for the year ending Aug. 31.
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MATRIA AFFIRMS 2006 PROFIT PROJECTIONS
Matria Healthcare (Marietta, GA) affirmed that 2006 earnings would be $1.35 to $1.56 per share ($26.9 million to $31 million based on 19.9 million diluted shares). Revenues in 2006 are expected to be $370 million to $380 million.
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