HealthLeaders-InterStudy, a provider of managed care industry intelligence, announced it has found that Texas HMOs as a whole continued a three-year streak of profits in 2004, and several individual plans improved dramatically.
According to the latest issue of the Texas Health Plan Analysis from HealthLeaders-InterStudy, Texas HMOs overall posted net income of $194.2 million in 2004, up from $163.7 million in 2003.
“Although medical costs are still going up, the increases have moderated somewhat and Texas HMOs have done a good job of setting premium rates,” said Paula DeWitt, HealthLeaders-InterStudy analyst. “Of course, they’ll have to continue keeping a tight rein on costs in order to continue the profitability streak.”
Other health plan news in Texas reported by HealthLeaders-InterStudy:
–PacifiCare Health Systems, which has entered into an agreement to be acquired by UnitedHealth Group, is pushing its consumer-driven plan out to the individual market. Its SignatureFreedom Self Directed Health Plan couples a high-deductible PPO with a “self-directed account.”
–So far, Humana Inc. is the only company to publicly announce that it is applying to CMS to offer a statewide regional Medicare Advantage PPO in Texas. Others are expanding at a local level only.
–CIGNA Healthcare is hoping to bring a pioneering physician pay-for- performance program called Bridges to Excellence to Houston.
For more information, please visit the Web sites at www.HealthLeaders.com and www.InterStudyPublications.com.
Topics Texas
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