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Managed Care Companies
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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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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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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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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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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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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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