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First Health Reports Higher Net Income

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NU Online News Service, Nov. 5, 10:46 a.m. – First Health Group Corp., Downers Grove, Ill., is reporting $26 million in net income for the third quarter on $152 million in revenue, up from $21 million in net income on $128 million in revenue for the third quarter of 2000.

First Health, which rents health care provider networks and sells health plan administrative services, recently acquired another provider network company, CCN Managed Care.

Combining the CCN operations with the First Health operations has gone smoothly, and growth in demand for provider networks has been strong, the company reports.

Revenue for managing access to care fell 14%, to $7.2 million, but revenue for claims administration increased 10%, to $42 million, and revenue for renting provider networks increased 32%, to $91 million, First Health says.