LubbockOnline.com - Insurance provider lowers physician reimbursements while earnings grow 08/19/07:
"Although it is a not-for-profit company, Health Care Service's bottom line continues to rise at a rapid rate. According to Laura B. Benko of Modern Healthcare, in 2005 Health Care Service Corp recorded its fourth consecutive year of earnings growth, 'posting net income of $1.15 billion on $11.7 billion in revenue. Its total surplus was $4.3 billion, up 47 percent from 2004 and 227 percent from 2000.' Ms. Benko points out the company's president and chief executive officer, Raymond McCaskey, received $6 million in salary, bonuses and other compensation in 2005. I believe some of the millions of dollars the residents of this area pay in premiums to Blue Cross would be put to better use by the healthcare professionals in our community."
Non-profit for whom?
Tuesday, August 28, 2007
Insurance provider lowers physician reimbursements while earnings grow 08/19/07 - LubbockOnline.com
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