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Weiss Finds HMO Industry Profits Increasing

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NU Online News Service, Feb. 4, 3:59 p.m. – U.S. health maintenance organizations reported a total of $503 million in profits for the second quarter of 2001, up from $434 million for the comparable period in 2000, according to Weiss Ratings Inc., Palm Beach Gardens, Fla., a financial services rating agency.

The 37 HMOs in Texas reported a total loss of $212 million. That was the biggest total loss reported by any state in the nation, Weiss says.

Although California has suffered through well-publicized HMO turmoil, its 25 HMOs led the nation in the second quarter of 2001 with $281 million in reported profits, Weiss says.