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Article: Blue Care Network finances back in the black.(News)(Blue Care Network of Michigan Inc.)
- Article from:
- Crain's Detroit Business
- Article date:
- April 5, 2004
- Author:
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Katie Merx
It looks like the third time is the charm for Blue Care Network of Michigan Inc., whose third post-merger president led the health maintenance organization to net income of $53.1 million in 2003.
Earnings at the nonprofit HMO were more than five times the $10.5 million Blue Care Network earned in 2002 and show evidence of a turnaround under President and CEO Kevin Seitz.
Seitz is the third CEO of Blue Care Network since 1998 when the Southfield-based HMO merged four regional HMOs into one statewide organization. Blue Care Network, a subsidiary of Blue Cross Blue Shield of Michigan, struggled before Seitz took the helm, losing ...