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July 31, 2007
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MHMR July 31, 2007: Volume 15, Number 13
2Q07 MCO profits rise 27%...FL ’06 HMO net falls 9.7%...Aetna names Bertolini president…Medicare Advantage lives rise…Chart 2Q07 MCO financials…Chart: ’06 FL HMO financials…GA ’06 HMO net rises 17%...Chart: ’06 GA HMO financials…CIBC analyst reviews “Sicko”…Aetna adds V.A. facilities…BCBS-MN taps Eppel…Clinton has 5% of HealthSpring…United warns about mini tender…Uninsured put at 43.6 million…Sierra shareholders approve sale…HMO stocks fall 3.4%...Services stocks fall 5.1%...Health Net offers e-prescribing…and more…
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2Q07 MCO PROFITS RISE 27%
Second-quarter 2007 net income for 12 publicly traded managed care companies rose 27% to $2.96 billion.
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FL HMO NET INCOME DECLINES 9.7% IN 2006
HMOs in Florida reported total net income of $626.7 million in 2006, down 9.7%, on revenues of $16.041 billion, up 5.6%, according to an MHMR tally of state insurance department data.
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MEDICARE ADVANTAGE LIVES HIT 8.79 MM
Medicare Advantage membership rose to 8.79 million as of July 31, 2007, up 16% from a year earlier, according to data from the Centers for Medicare & Medicaid Services.
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GA HMO NET INCOME INCREASES 17.2% IN 2006
Georgia HMOs reported 2006 net income of $67.7 million, up 17.2%, on revenues of $4.162 billion, up 36.3%, according to an MHMR tally of state insurance department data.
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CIBC ANALYST: “SICKO” TO HAVE LITTLE IMPACT
Michael Moore's new documentary won't have a significant impact on the managed care stocks, nor will the film change the course of the healthcare reform discussion this year, according to a research note by Carl McDonald, managed care analyst at CIBC World Markets.
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HEALTH NET TO OFFER E-PRESCRIBING TO CT DOCS
Health Net of the Northeast, a unit of Health Net Inc. (Woodland Hills, CA) has formed a joint venture with the Connecticut State Medical Society-IPA to provide physicians with e-prescription software from Emdeon Business Services (Nashville, TN).
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UNITEDHEALTH DOESN’T ENDORSE TRC MINI-TENDER OFFER
UnitedHealth Group (Minnetonka, MN) announced that it “does not endorse” a mini-tender offer by TRC Capital Corp. of Canada to purchase up to 2 million shares of United stock at $51.50 per share as of March 31.
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HHS SAYS 43.6 MILLION WERE UNINSURED IN 2006
The U.S. Dept. of Health and Human Services (Washington) said that 43.6 million Americans—or 14.8% of the nation’s population—lacked health insurance in 2006; that’s down from a prior government estimate of nearly 47 million. The figures are compiled by HHS’ Centers for Disease Control and Prevention.
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