Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Portfolio > Economy & Markets > Fixed Income

WellCare Reports Higher Net Income

Your article was successfully shared with the contacts you provided.

NU Online News Service, Nov. 14, 4:15 p.m. – The WellCare Management Group Inc., Kingston, N.Y., is reporting $35,000 in net income for the third quarter on $24 million in premium revenue, up from a net loss of $1.1 million on $17 million in premium revenue for the third quarter of 2000.

WellCare, a small managed care company, says revenue increased so rapidly because of the acquisition of Medicaid operations from another carrier.

The shift toward Medicaid and a shift away from the commercial market helped cut medical expenses to 81% of premium revenue, from 100% for the third quarter of 2000, the company says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.