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Mid-Atlantic Medical Reports Higher 1st Quarter Net Income

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NU Online News Service, May 8, 2003, 12:23 p.m. EDT – Mid-Atlantic Medical Services Inc., Rockville, Md., is reporting $34 million in net income for the first quarter on $664 million in revenue, up from $19 million in net income on $550 million in revenue for the first quarter of 2002.

The managed care company ended the quarter providing or administering major medical coverage for 2 million people, up from 1.9 million people a year earlier.

The average health premium revenue per commercial health plan member increased 15%, to $637.


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