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Feb. 28, 2007
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MHMR Feb. 28, 2007; Volume 15, Number 4
Braly to head WellPoint…Buffet invests in UnitedHealth…SPECIAL REPORT: MCO Drug Costs: MCO drug costs to rise 8%...Aetna, Blue BCBS-MA, BCBS-MI, BCBS-MN, BCBS-NC, Shield-CA, Cigna, Group Health, Harvard Pilgrim, Health Net, Health Partners, Horizon BCBS-NJ, Humana, Molina, Sierra, UnitedHealth, WellPoint…NCQA adds PPO measures…Cigna names CIO…HMO stocks fall 2.6%...Services stocks fall 3.2%...Medco benefits from PBM fallout…and more…
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WELPOINT SHOCKER: GLASSCOCK RESIGNS, BRALY NAMED CEO
WellPoint Inc. (Indianapolis, IN) announced that Larry Glasscock, 58, would retire as president and chief executive on June 1, 2007 for “family reasons,” but will remain chairman of the company for the foreseeable future.
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DRUG COSTS TO RISE 8% IN 2007
Drug costs among leading managed care organizations are expected to rise about 8% in 2007, about the same level as in 2006, according to MHMR estimates based on interviews with leading health plans.
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BUFFET INVESTS IN UNITEDHEALTH
Call it the Warren Buffet effect. Shares in UnitedHealth Group rose 6% last week after Buffet’s Berkshire Hathaway revealed that it had acquired a stake in the company.
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MEDCO BENEFITS FROM CVS-CAREMARK FALLOUT
David Snow, chairman of Medco Health Solutions (Franklin Lakes, NJ), said the company has been able to negotiate more favorable pricing from drug stores following last year’s announcement by CVS Corp. that it was acquiring pharmacy benefit manager Caremark.
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NCQA ADDS PPO QUALITY TO ACCREDITATION REQUIREMENTS
The National Committee for Quality Assurance (Washington), which is the nation’s largest HMO quality accreditation organization, said that it will require any health plan seeking accreditation to provide data on its various health plan offerings—including HMOs, PPOs and POS plans.
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CIGNA HEALTHCARE NAMES CIO
Cigna Healthcare, a unit of Cigna Corp. (Philadelphia), has named Juan Conde chief information officer. Conde, who was most recently CIBC, will oversee IT strategy and the delivery of consumer-focused technology solutions.
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