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This just in.

Publication: Crain's Detroit Business
Publication Date: 29-MAR-04 		Format: Online
Delivery: Immediate Online Access
Full Article Title: This just in.(briefs)

Article Excerpt
Most state HMOs increase profits

The region's health maintenance organizations generally showed improved results in 2003, according to annual financial statements filed with the state.

Southfield-based Blue Care Network of Michigan Inc., Farmington Hills-based Care Choices, Southfield-based Great Lakes Health Plan, Southfield-based Cape Health Plan Inc., the Detroit-based Wellness Plan, Detroit-based Health Alliance Plan and Ann Arbor-based M-Care Inc. all turned in improved earnings. Farmington Hills-based Botsford Health Plan took a hit to its bottom line, finishing the year in the red.

Health plan professionals credited improved efficiency, cuts to expenses, higher premiums charged customers and lower-than-expected rates of medical inflation with the generally improved earnings.

Blue Care Network recorded net income of $53.1 million on revenue of $1.4 billion in 2003, compared with net income of $10.5 million on...

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