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Article: Texas HMOs Report Profit for Second Straight Quarter.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 4, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. 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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By R.A. Dyer, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Sep. 4--AUSTIN, Texas--Led by multimillion-dollar gains in North Texas, the state's health maintenance organizations have shown profits for the second straight quarter, according to financial reports released Tuesday.
The industry reported $15.7 million in profits for their Texas operations during the three-month period ending June 30, up from $595,567 in the first quarter. Before 2002, the industry in Texas went six full years without a profit.
Texas Insurance Commissioner Jose Montemayor called the numbers good news but cautioned that medical expenses ...