Announced on December 30th, PacificSource acquired Bend, Oregon-based Clear One Health Plans for $46.0 million, or $26.00 per share.
We take a look at the lessons learned from the meltdown of financial markets during 2008 – 2009 and consider implications for health care reform.
The U.S. Department of Health and Human Services is requiring health care payers and providers to update its coding system to ICD-10 by October 1, 2013. Based on the suggestions of experts, we estimate the possible cost impact of the implementation of ICD-10 by using HIPAA costs in conjunction with information from The Sherlock Expense Evaluation Report.
On average, health plan stock prices declined 0.6% compared to a 3.7% drop by the market as a whole. Nine of the fourteen publicly-traded health plans experienced stock price declines for the month of January, while valuation indicators were negative.
Two of the fourteen publicly-traded health plans reported earnings last month. UnitedHealth Group reported a decline in operating earnings on higher health benefit and administrative to premium ratios. WellPoint, Inc. experienced a year-over-year drop in operating income of 47.9% on lower membership and revenues.
Molina Healthcare, Inc. entered into a definitive agreement with Unisys Corporation to acquire its Health Information Management business for $135.0 million.
Altius Health Plan, a subsidiary of Coventry Health Care, appointed Todd Trettin as its Chief Executive Officer. AmeriHealth Mercy Family of Companies named Michael A. Rashid as its President and Chief Executive Officer and Anne Morrissey as its Executive Vice President and Chief Operating Officer. Blue Cross and Blue Shield of Alabama named Terry Kellogg as President and Chief Operating Officer. CIGNA Corporation announced that David Cordani and Isaiah “Ike” Harris have assumed their roles of Chief Executive Officer and Chairman of the Board, respectively. The company also appointed David Guilmette as its President of the National Segment. Rochester, New York-based Excellus Blue Cross Blue Shield appointed Christopher C. Booth as its Executive Vice President and Chief Operating Officer. SelectHealth announced Mark Brown as its Chief Financial Officer. Arizona-based Mercy Care Plan appointed Chuck Sowers as its Chief Financial Officer. WellCare Health Plans, Inc. announced John C. Richter as Vice President and Chief Litigation Counsel.
Centene Corporation announced on January 21st that it will hold a follow-on public offering for 5.0 million shares and up to an additional 750,000 shares for overallotments. On January 6th, UnitedHealth Group announced that it will repurchase $200.0 million in shortterm and $550.0 million in intermediate-term notes through a modified Dutch Auction.
Features 4th quarter and yearend earnings announcement dates of the remaining twelve publicly-traded health plans that have not reported.
In this month’s analysis, we profile firms that provide outsourcing services to health plans. Such firms promise to offer the advantages of scale while preserving their autonomy. Firms, services and contacts are provided.
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