March 28, 1999 |
Does paying for health care have to be so difficult? Americans enjoy--and insist on--good medical care but argue and dissemble endlessly about paying for it. The old system of fee for service saw a type of outright fraud called "cost shifting" in which fully insured patients were overcharged by 20% or more to pay for those with less or no insurance. It wasn't so much a crime as an open secret that allowed care for the poor. But costs got out of hand and employers and the government rebelled.
March 13, 1999 |
The nation's private health care system is on the verge of a multibillion-dollar financial crisis that could lead to bankruptcies and closings of hundreds of physician groups, government supervision of others, and temporary disruptions of medical services for millions of Americans. The scale of the problem is dramatically illustrated by California's seizure Thursday of the giant MedPartners Provider Network Inc., whose 1,000 doctors provide care for 1.
March 13, 1999 |
After their unprecedented takeover of troubled MedPartners Provider Network Inc., state regulators acknowledged Friday that they do not have a plan for what to do next. They now must cope with how to guarantee continued care for 1.3 million patients and determine who will bear the costs of the firm's liabilities.
March 12, 1999 |
In what appears to be the largest governmental seizure of an ailing health-care company, state regulators on Thursday took over MedPartners Provider Network, which covers 1.3 million Californians. The state Department of Corporations immediately placed MedPartners in Chapter 11 bankruptcy protection but said care for patients would continue. Regulators were attempting to forestall the possibility that the company would shut down without making arrangements to take care of patients, sources said.
March 9, 1999 |
MedPartners Provider Network Inc., which provides health care for 1.3 million Californians, may not have sufficient cash to pay new claims and has not proved to the state that it is fiscally sound, according to a state report. The company's cash reserves have been depleted by $21.5 million as a result of overpayments to hospitals, according to the report, which was issued last week by the state Department of Corporations after the company failed to fully respond to questions raised in an audit.
August 12, 1998 |
PacifiCare Health Systems Inc., one of California's biggest health insurers, may be able to profit from the malaise in Medicare coverage that plagues its rivals. Two big competitors, United HealthCare Corp. and Foundation Health Systems Inc., dismayed investors over the past week with losses on Medicare, as the government moves to cut growth in spending on its health insurance for the elderly. Santa Ana-based PacifiCare has bucked the trend with its Secure Horizons model.