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Biotech / Medical : OXHP: a premier value healthcare stock, check Value Line!
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To: S. Bashakis who wrote (23)10/30/1997 1:02:00 AM
From: Chuzzlewit  Read Replies (1) of 29
 
I am an ex-shareholder of OXHP, and I'll tell you why I got out of the company -- in time and at a nice profit (whew!). My first inkling that something was wrong came on the heels of last quarter's earnings report. OXHP reported what looked like blow-out numbers but the stock fell like a stone -- from the high 80's to the low 70's. I called up IR to find out why, and was assured that this was "normal"! Then several articles began appearing concerning problems that OXHP was having with their computer systems -- particularly the time it took for physicians to receive payment. Finally, a number of articles began appearing citing the pricing pressures facing HMOs. It began to dawn on me that either OXHP had no idea what their expenses really were, or that information was being withheld.

Where this company goes from here I don't know. On the positive side I read an article in the NY Times that talked about 5% rate hikes. However, I feel that management has not been forthcoming with s/h's concerning their revenues or expenses (the only problem I had read about was the payables system). So, unless your a gambler, I think it is best to avoid this company altogether.

Best of luck,

Paul
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