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MAMSI Reports Higher Net Income

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NU Online News Service, Nov. 8, 2:08 p.m. – Mid Atlantic Medical Services Inc., Rockville, Md. is reporting $15 million in net income for the third quarter on $460 million in revenue, up from $11 million in net income on $371 million in revenue for the third quarter of 2000.

The managed care company provides major medical insurance for some customers, and administrative services for self-insured employee health plans for others.

Total health plan enrollment increased 1%, to 1.8 million. Membership in fully insured commercial plans increased 12%, to 849,800.

Health premium revenue increased to an average of $521 for each member of a fully insured commercial plan, up 12% from the average for the third quarter of 2000.