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Biotech / Medical : Oxford Health Plan (OXHP)

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To: Michael Burry who wrote (586)	12/16/1997 11:30:00 AM
From: Thomas Haegin	of 2068

Re: Cash advances to doctors IMO the apparent status quo is the most conservative one in terms of bookkeeping: They are not booked at all! I mean unless they collected this money from employees or entertained fund raising events, chances are they paid it out from some company bank account and therefore it should show up in the expenses. My point is, they did not create an asset item in their BS as of 09/30/97 for these advances. So whatever they once will get back if they get back something from doctors, it will be extraordinary income so to say. On the other hand I do not expect any repayments from providers to happen: OXHP would have been really stupid if they transferred more to the provider than they thought they owe him. Even if they did not have exact figures, they should have at least some idea what they owed the particular provider. But even this matters little in case I'm correct in the previous paragraph. I do not have the time myself right now to call their IR mayself :) Any comments welcome, Thomas

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