Business Services Industry
Outlook Good for Michigan HMOs.
Knight Ridder/Tribune Business News, September, 2003
By Kim Norris, Detroit Free Press Knight Ridder/Tribune Business News
Sep. 5--Michigan's managed-care health plans turned in their best performance in years in the first half of 2003, with the vast majority reporting positive bottom lines.
Financial woes still plague the Medicaid health-maintenance organizations, including the largest ones in the state.
As a group, the 32 HMOs operating in the state earned $65.6 million for the six months ended June 30. That's nearly 53 percent more than they earned collectively for the same period a year ago. All but five reported positive earnings for the first half of the year.
Health Alliance Plan led all HMOs with net income of $15.6 million, nearly 56 percent more than for the same six...
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