FPA Medical stops paying its doctors in parts of 3 states

Article Abstract:

Cash strapped physician management company FPA Medical Management Inc. stopped paying some doctors in parts of California, Nevada and Arizona. State regulators and some medical societies have become more involved in the situation. FPA missed a $2.6 million interest payment on its $75 million convertible subordinated debentures. FPA is running in the red in regions of California, Nevada and Arizona. FPA operates a network of 7,900 physicians that treat about 1.4 million people in 29 states under contracts with health maintenance organisations.

Comment:

Stopped paying some doctors; seems to be in possible financial troubles

Financial management

---

FPA's CEO received salary increase five days before Chapter 11 filing

Article Abstract:

FPA Medical Management Inc.'s new CEO, Stephen J. Dresnick, was awarded a $525,000 salary hike five days before the company filed for Chapter 11 bankruptcy. Mr. Dresnick was also offered a bonus that could be worth more than $1 million once the firm comes out of bankruptcy. Mr. Dresnick's salary was increased from $325,000 to $850,000 upon his appointment as CEO. The raise is retroactive to March 26, 1998, which is the date of his appointment.

Comment:

New CEO, Stephen J. Dresnick, awarded a $525,000 salary hike five days before the company filed for Chapter 11 bankruptcy

Management development, Company Personnel

---

PacifiCare offers medical-quality index

Article Abstract:

PacifiCare Health Systems Inc. will introduce a "quality index" that will rank the performances of the company's largest medical groups located in California. The new index is designed to aid consumers in their search for the best physicians. The leading medical performers will have a blue-ribbon icon featured next to it in PacifiCare's new provider directory. The directory is scheduled to be released in September 1998.

Comment:

Will introduce a "quality index" that will rank the performances of the company's largest medical groups located in California

On-Line Information Services, Services introduction, New Products/Services, Medical Database Vendors, PacifiCare Health Systems Inc., Health care information services

Similar abstracts:

• Abstracts: In choosing a computer, speed is not always of the essence. For bargain basement buying, time may be right. Forget the better mousetraps! Build us a better Web phone
• Abstracts: United Health to acquire Humana Inc. Aetna to buy Prudential's health care business for $1 billion. Cardinal Health is acquiring Allegiance Hospital Supply
• Abstracts: AOL aims to revive Compuserve with introduction of upgrade. Centennial Cellular to sell 93% stake to Welsh Carson firm for $1.31 billion
• Abstracts: Imaginative supplements help a pair of magazines build relationships with marketers. A new spot for Chanel No. 5 dabs on some sex and surrealism
• Abstracts: Perelman is likely to get a larger stake in Sunbeam. Sunbeam and ousted chief executive sign cooperation agreement

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.