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October 31, 2007
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MHMR Oct. 31, 2007: Volume 15, Number 18
WellCare shares fall 73%...Humana shares on rollercoaster…WellPoint eyes 15% EPS gain…
Retail clinics are a solution, but not the solution…CA ’06 HMO profits rise 19%...Chart: CA HMO financials…Centene trims ’07 EPS outlook…TX ’06 HMO profits rise 19%...Chart: TX HMO financials…NY ’06 HMO net declines 15%...Chart: NY HMO financials…MCO stocks fall 4.3%...Services stocks rise 1.6%...and more…
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WELLCARE SHARES FALL 73%
Shares in WellCare Health Plans (Tampa, FL) fell 73% to $31.36 last week, after state and federal agents raided the company’s Tampa headquarters removing documents and files.
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HUMANA FALLS AFTER ROUSING START
Shares in Humana Inc. (Louisville, KY) ended Monday, Oct. 29, down 2.4% at $73.75 after reaching as high as $81.50 earlier in the day on strong third-quarter 2007 financial performance.
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WELLPOINT EYES 15% ’08 EPS GROWTH
In an annual rite of fall, WellPoint Inc. (Indianapolis) said it expects earnings to grow at least 15% next year—a projection the company has attained for several consecutive years.
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VIEWPOINT: RETAIL CLINICS ARE A SOLUTION, BUT NOT THE SOLUTION
There continues to be a lot of buzz around retail health clinics located in drugstores, supermarkets and mass merchandisers. These clinics are staffed by nurse practitioners and offer convenient treatment of minor ailments—i.e., coughs and colds—for about $55 per visit.
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CA HMO PROFITS INCREASE 18.9% IN 2006
California HMOs reported net income of $3.153 billion in 2006, up 18.9%, on revenues of $74.522 billion, up 9.1%, according to an MHMR tally of data from the state Dept. of Managed Healthcare.
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TX HMOs BOOST NET INCOME 78.7% IN 2006
HMOs in Texas in 2006 posted net income of $394.3 million, up 78.7%, on revenues of $8.465 billion, up 14.8%, according to an MHMR analysis of state insurance department data.
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NY HMO PROFITS DECLINE 15.2% IN 2006
New York HMOs reported net income of $972.9 million in 2006, down 15.2%, on revenues of $19.462 billion, up 5.7%, according to an MHMR tally of state insurance department data.
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