HealthLeaders-InterStudy, a leading provider of managed care industry intelligence, finds that health plans in the Pacific Northwest have shown significant financial improvement after struggling in a post 9/11 economy. According to the latest issue of the Oregon and Washington Health Plan Analysis from HealthLeaders-InterStudy, the top six HMOs in Oregon collectively boosted net income from $40.9 million in 2003 to $189.6 million in 2004, and all of Washington's HMOs were profitable in 2004.
"Oregon and Washington health plans finally have their finances back on track and have been more disciplined about their underwriting methods," said Micaela Brown, HealthLeaders-InterStudy analyst. "In the future, these healthier plans may be looking for acquisitions and investing in consumer- driven health benefits companies. They will also likely be investing in high- tech claims management and disease management programs."
Other health plan news in Oregon and Washington: * It's unlikely that any health plans in Oregon and Washington will bid to offer a new regional Medicare PPO, but several plans are offering drug plans and extending their service areas for their local Medicare PPOs. * Group Health Cooperative rolled out its first PPO product in Spokane, Wash, and is contemplating buying a local PPO plan. * Regence Blue Shield of Washington introduced new individual PPO plans effective June 1 that offer catastrophic coverage with low premiums. * Providence Health Plans now offers individual PPOs tied to HSAs in Oregon. About HealthLeaders-InterStudy
HealthLeaders-InterStudy, a newly formed company of Decision Resources, Inc. (http://www.decisionresources.com/), is the authoritative source for managed care data, analysis, and news. For more information, please visit both Web sites at http://www.healthleaders.com/ and http://www.interstudypublications.com/.
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SOURCE: Decision Resources
CONTACT: Alex Jablokow of Decision Resources, +1-781-296-2562,