NU Online News Service, Oct. 30, 3:36 p.m. – Coventry Health Care Inc., Bethesda, Md., a managed care company, is reporting $22 million in net income for the third quarter on $795 million in revenue, up from $15 million in net income on $635 million in revenue for the third quarter of 2000.
Coventry sells insurance to individuals and employee health plans. It also provides administrative services for some self-insured employee health plans.
Coventry provided or administered major medical coverage for 1.9 million people at the end of the third quarter, up 19%.
The company generated an average of $491 million in commercial insurance revenue for each member of a commercial health plan during the quarter, up 11%.