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Biotech / Medical : Oxford Health Plan (OXHP) -- Ignore unavailable to you. Want to Upgrade?

To: Premier who wrote (880)	2/2/1998 8:17:00 PM
From: Tom Hua	Read Replies (1) \| Respond to of 2068

Monday February 2, 6:25 pm Eastern Time N.Y. doctor's group says to sue Oxford New York, Feb 2 (Reuters) - The New York County Medical Society, an organization representing 5,000 Manhattan doctors, said Monday it plans to announce on Tuesday the filing of two legal actions against Oxford Health Plans Inc. One action seeks payment of more than $140 million in fees and the other demands major reforms in managed care, the group said in a statement. The filing is to be announced at a press conference Tuesday morning at the New York County Medical Society's offices. The mass arbitration filings, similar to class action lawsuits, would represent the first time that a medical society has ever filed such a mass legal action in the United States against a managed care company, the group said. Oxford faces a number of class action lawsuits related to its problems following its announcement in November that it lost $78 million, or 99 cents a share, in the third quarter and the resignation of its chief financial officer.