HMOs' black ink gets blacker
Quick View. June 2/9, 2003.
|
United |
Aetna |
CIGNA |
Well-
Point |
Anthem |
| Membership (millions) |
|
18.0 |
13.0 |
12.0 |
13.5 |
11.5 |
| Revenue (billions) |
| 1Q '02 |
$6.0 |
$5.3 |
$4.8 |
$3.9 |
$2.8 |
| 1Q '03 |
$7.0 |
$4.5 |
$4.9 |
$4.8 |
$4.1 |
| Change |
16.1% |
-15.1% |
8.3% |
22.8% |
46.4% |
|
| Net earnings (millions) |
| 1Q '02 |
$295.0 |
-$2,830.0 |
$218.0 |
$141.0 |
$99.8 |
| 1Q '03 |
$403.0 |
$330.0 |
$236.0 |
$193.1 |
$192.0 |
| Change |
36.6% |
n/a |
8.6% |
36.9% |
92.4% |
|
| Per-share profit |
| 1Q '02 |
$0.92 |
$0.44 |
$1.52 |
$1.01 |
$0.93 |
| 1Q '03 |
$1.29 |
$2.03 |
$1.68 |
$1.33 |
$1.18 |
|
| Medical-loss ratio |
| 1Q '02 |
84.6% |
85.4% |
84.3% |
80.5% |
84.6% |
| 1Q '03 |
82.1% |
77.0% |
85.9% |
81.5% |
82.2% |
First quarter results:
The first quarter of 2003 was generally a prosperous time for most of the leading U.S. publicly traded HMOs.
Companies and analysts pointed to a variety of reasons for HMOs' brightened bottom lines in the first quarter: medical expenses that turned out to be significantly lower than once expected; continued belt-tightening and overhead cutting; premium increases; added efficiencies through data processing and claims processing technology; and increases in membership.
Source: Quarterly reports filed with the Securities and Exchange Commission
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Copyright 2003 American Medical Association. All rights reserved.
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