Managed Care Report
Managed Care Report
• PacifiCare Health Systems (Santa Ana, CA) is being sued by a Fort Worth, TX, doctor who said it delayed paying claims for members of the Harris Methodist Health Plan as part of an attempt by PacifiCare and others to earn millions of dollars in interest on the money to be used for payments. The suit seeks class-action status representing all doctors whose payments were delayed after they treated members of Harris Methodist Health Plan, which PacifiCare bought Feb. 1, reported the Orange County Register. PacifiCare denied the accusations.
• Concentra Medical Centers will enter the Pittsburgh market under a new partnership with UPMC Health System, the company said last week. Plans include the opening of three new sites, which could bring 150 new jobs to the area. Concentra has a long-term goal of operating 15 to 20 sites in Pennsylvania over the next five years, the company said. Concentra will manage UPMC Health System’s outpatient and on-site clinical occupational healthcare services and build on that existing business.
• CCN (San Diego) now offers a group health preferred provider network in Delaware. The expansion brings to 47 the number of states in which CCN offers networks, plus the District of Columbia. In developing its Delaware network, CCN partnered with Medical Network Management Services of Delaware to bring on board more than 450 physicians through three physician groups, New Castle County Physicians Organization, Eastern Sussex Physicians Organization, and Nanticoke Physicians Organization.
• Amerigroup Corp. (Virginia Beach, VA) said it has filed a registration statement with the Securities and Exchange Commission (Washington) for an initial public offering of its common stock. According to the filing, Amerigroup hopes to raise $86.2 million in the IPO, which would be completed as soon as is practicable, reported Best’s Insurance News. The company plans to use $12.5 million to pay off preferred stock, use $7 million to pay down the company’s term-loan facility, and use the rest of the proceeds for general business purposes, including acquisitions.
• Oxford Health Plans (Trumbull, CT) paid the $131 million balance of its bank term loan three years prior to the due date. The company said last week that the pre-payment included a premium of 2.5%, bringing the total payment to $134.3 million.
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