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

To: Premier who wrote (1164)	2/27/1998 7:38:00 AM
From: DRRISK	Respond to of 2068

Premier, This is music to my ears the direct pay is the worst business as well as Medicaid and the most difficult to manage margins very low. The 50% increase in Direct is the mannner in NYC you price yourself out of a lousy market that you are loosing money. The company is also bloated with staff so I agree this is very positive news. Payson is hitting the ground running. Have I missed a CFO appointment? Good Luck Dr Risk

To: Premier who wrote (1164)	2/27/1998 8:12:00 AM
From: william liao	Read Replies (1) \| Respond to of 2068

premier, there is some more to come. Technology & Health: Oxford Health Is Expected to Withdraw From New Jersey Medicaid as of July 1 ---- By Ron Winslow Staff Reporter of The Wall Street Journal Oxford Health Plans Inc. is expected to pull out of the New Jersey Medicaid program as of July 1, continuing a plan to withdraw from or curtail its participation in government medical programs, where it has suffered big losses. A spokeswoman for Oxford said no definitive agreement had been reached with New Jersey officials, but acknowledged that the company was looking at "all of our options" with respect to the program. Oxford has about 45,000 Medicaid members in New Jersey. On Wednesday, Connecticut officials said Oxford had notified them that it would pull out of that state's Medicaid program, in which it provides care for 33,000 members, as of April 1. And Oxford said it is evaluating its participation in the same program in New York, though no decision has been made. The Norwalk, Conn., managed-care company, which reported a $284.7 million fourth-quarter loss, is seeking to cut or reduce its exposure to unprofitable or marginal business lines as part of a drive to restore its financial health. Norman Payson, who was named chief executive officer of the company Tuesday, said in an interview then that there are "some areas of business that you really have to forgo because there is no reasonable way they can work" as profitable activities. Oxford's Medicaid members in New Jersey will be allowed to pick a new health plan or be assigned randomly to another participating health maintenance organization, a spokeswoman for the state Department of Human Services told the Dow Jones Newswires. Those in Connecticut will also pick a new plan, a spokeswoman said. Separately, Connecticut State Treasurer Paul Silvestri, as trustee of the State of Connecticut Retirement Plans and Trust Funds, has joined one of about 50 shareholder lawsuits seeking class-action status that have been filed against Oxford, said Vincent R. Cappucci, a partner in Bernstein Litowitz Berger & Grossman, a New York law firm that has filed one of the suits. Mr. Cappucci said the suits, filed in three different federal jurisdictions, are expected to be consolidated into one action before Judge Charles Bryant in U.S. District Court in the Southern District of New York.