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Kaiser, Oxford See Quarterly Gains; 1st Since 1997

MANAGED CARE June 1999. © MediMedia USA
News and Commentary

Kaiser, Oxford See Quarterly Gains; 1st Since 1997

MANAGED CARE June 1999. ©1999 Stezzi Communications

The next time Kaiser Permanente comes to CalPERS with its hat in its hand, it may have to be very persuasive. Kaiser's HMO turned a $56 million first-quarter profit — its first quarter in the black in two years. Kaiser's turnaround — it lost $881 million in 1997 and '98 — is due to premium hikes and fewer referrals to non-Kaiser hospitals.

Also on the comeback trail: Oxford Health Plans, which eked out a $3.2 million after-tax, first-quarter profit — its first since 1997. Oxford CEO Norman Payson, M.D., said Oxford would drop a point-of-service plan in New York and drop some Medicare markets next year to boost its yield.

On the for-profit side, Aetna U.S. Healthcare's after-tax quarterly profit was $116 million, up $24 million, while PacifiCare made $74 million, a $33 million gain. United HealthCare cleared $132 million — news no doubt felt in Louisville, where Humana blamed part of its $16 million loss on its failed merger with United.

Last year was ugly for some not-for-profits, including Harris Methodist Health Plan, which lost $99 million. And after announcing that it bled $54 million, Harvard Pilgrim Health Care showed CEO Allan Greenberg and his CFO the door.

Meetings

Medical Devices Summit Boston, MA February 19–20, 2015
3rd Annual Summit to Improve Adherence and Enhance Patient Engagement Philadelphia, PA March 9–10, 2015
Value-Added Solutions for Enhanced Customer Experience Philadelphia, PA March 9, 2015