NU Online News Service, July 24, 12:25 p.m. – RightChoice Managed Care Inc., St. Louis, is reporting $15 million in net income for the second quarter on $288 million in revenue, up from $8.5 million on $260 million for the second quarter of 2000.
Operating income, which excludes investment income, interest income and taxes, increased 87%, to $22 million.
RightChoice earned more because it was able to charge more for health insurance, and to expand a unit that helpsemployers run self-insured health plans, the company says.
Enrollment in the insured plans increased 1%, to 539,000, while enrollment in the self-insured, “administrative services only” plans increased 8%, to 2.3 million.
The company brought in about $471 in revenue per insured member, up 9%.
Revenue for each member of an administrative services only plan held steady at $15.