BUSINESSNews in brief - Jan. 5, 2004U.S. Oncology issues finance warning - ProxyMed buys PlanVista U.S. Oncology issues finance warningU.S. Oncology Inc., the Houston-based company that manages cancer centers and oncology practices across the country, warned last month that the new Medicare bill approved by Congress "will adversely impact financial results of oncologists, including those in the U.S. Oncology network, with respect to Medicare patients." The new legislation includes a prescription drug benefit for Medicare patients. While outpatient oncology drugs were already covered by Medicare, the company said the new bill calls for a "significant reduction" in reimbursement levels for drugs administered in a community setting. The company declined to project its financial performance for 2004 and subsequent years, though officials said the new legislation would have its greatest effect starting in 2005. ProxyMed buys PlanVistaProxyMed Inc., a processor of medical transactions for physicians, headquartered in Fort Lauderdale, Fla., has agreed to acquire PlanVista Corp, Tampa, Fla., for about $102 million in cash and assumption of debt. PlanVista operates preferred provider networks and provides electronic claims repricing, and network and data management services to insurers. Copyright 2004 American Medical Association. All rights reserved.
|
Featured stories     
« Prev
1
2
3
4
5
6
Next »
Current topicsMost-viewed
This weekMedicaid primary care pay: The next SGR? More newborns showing ill effects of maternal opioid use Get our email alertsUse our one-step registration. Learn more Your information will not be shared. Privacy policyColumns and series
From the vault |
|||||||||
