Novacare (NOV) breaking out... Message Board

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Biotech / Medical : Novacare (NOV) breaking out...

NOV 15.67

+0.8%

Dec 19 9:30 AM EST

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To: E. Graphs who wrote (206)	1/29/1998 10:15:00 AM
From: Barry Dryer	Read Replies (1) of 420

<<There will be more call for therapy aides and assistants instead of licensed professional therapists, and there will be more group therapy instead of private consultation and treatment. I'm guessing that this may have been part of the drag on NCES.>> The NCES release addresses this concern as follows: ''Our parent and largest customer, NovaCare, Inc. has initiated a restructure of one of its businesses in a strategy that should favorably position NovaCare, Inc. and its customers for recent changes in Medicare reimbursement by reducing the cost of its workforce,'' added Hulber. ''NovaCare Employee Services will be instrumental in transitioning NovaCare, Inc.'s workforce through the restructure process. We will renegotiate our administrative fees to reflect the higher level of support required for outplacement, relocations, benefits changes, and processing volumes. The higher fees should offset the negative impact of lower compensation and a slower growth rate in NovaCare, Inc.'s employee base.'' Barry

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