PHYSICIANS AND HEALTH NET
ANNOUNCE SETTLEMENT OF LANDMARK LITIGATION - 05/17/05
Settlement Focuses on Improving the Quality of the Health Care Delivery System
Anticipated Court Acceptance of the Settlement Agreement Will Conclude Litigation for Health Net
Miami, FL May 3, 2005 – Health Net and representatives of over 700,000 physicians, state and local medical societies announced today the settlement of the national class action lawsuit pending in the federal court for the Southern District of Florida before U.S. District Judge Federico Moreno. Final judicial approval of the settlement agreement by Judge Moreno will extinguish liability for lawsuits filed against Health Net over the last 10 years or more by physicians and physician groups.
The settlement document provides improvements to physician-related business practices as well as cash payments to physicians in accordance with specific terms outlined in the agreement. The agreement will also enhance communication between physicians and Health Net, reduce administrative complexity in the claims payment system and help improve the quality of the health care delivery system. These changes are expected to result in increased predictability and speed of claims payment, creating significant value for physicians by reducing time-consuming and costly administrative burdens and giving physicians and their office staffs more time to focus on their central mission - providing health care to patients. Full Story...
The Prosperity of Managed Care Plans May Be Tapering Off- 05/17/05
Article from
California Physician Online
Even
as the nation's health care costs keep climbing, the insurance companies that
try to manage those costs have been prospering and increasing their profit.
But some analysts see trouble ahead. The share prices of three of the largest
insurers - WellPoint, UnitedHealth Group and Cigna - reached 52-week highs
early this month, at the peak of a two-year surge in the stocks of managed
care companies. But since April 7, the big insurers have led the way down as a
Standard & Poor's index of managed care stocks fell 8.4 percent while the
broader S.& P. 500-stock index slipped only 3.3 percent.
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