HMOs nearly double profits in 2003, rating agency says

CAL/AAEM News Service calaaem_news at yahoo.com
Wed Sep 15 15:43:42 PDT 2004


HMOs nearly double profits in 2003, rating agency says

August 30, 2004


The nation's health maintenance organizations nearly doubled their profits
during 2003 to $10.2 billion, an 86% increase from the $5.5 billion reported in
2002, according to an analysis (http://www.weissratings.com/) released today by
Weiss Ratings Inc. The company, which rates the financial strength of insurers,
reviewed year-end data from 502 HMOs. "The industry's soaring profits continue
to irk both consumers and businesses who are shouldering skyrocketing health
care costs without any perceived improvement in benefits," said Weiss Vice
President Melissa Gannon. "We may soon see the next wave of consumer backlash
forcing HMOs to evolve their cost structures."


Source: AHA News Now (www.ahanews.com) 


=====
Cyrus Shahpar & Brian Potts 
Managing Editors, CAL/AAEM News Service 
UC-Irvine



		
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