| Business Summary | | WellCare
Management
Group,
Inc.
is
a
healthcare
management
company
whose
wholly
owned
subsidiaries,
WellCare
of
New
York,
Inc.
(WCNY)
and
FirstChoice
HealthPlans
of
Connecticut,
Inc.,
are
health
maintenance
organizations
(HMOs).
The
Company's
primary
focus
is
to
strengthen
and
grow
its
governmental
business
(Medicare,
Medicaid
and
Child
Health
Plus
products).
WCNY
and
FirstChoice
provide
comprehensive
healthcare
services
to
their
members
for
a
fixed
monthly
premium,
plus
a
co-payment
as
applicable,
by
the
member
to
the
physician
for
each
office
visit,
and
a
dispensing
fee
or
co-payment
to
the
pharmacy
for
each
prescription
filled.
The
basic
benefits
consist
of
physician
care,
inpatient
and
outpatient
hospital
services,
emergency
and
preventive
healthcare,
laboratory
and
radiology
services,
ambulance
services,
eye
care,
physical
and
rehabilitative
therapy
services,
chiropractic
services,
mental
healthcare
and
alcohol
and
substance
abuse
counseling. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | WELL,
a
managed
health
care
holding
company,
owns,
operates
and
provides
management
services
to
health
maintenance
organizations.
For
the
six
months
ended
6/30/01,
total
revenues
increased
25%
to
$48.2
million.
Net
income
rose
7%
to
$1.1
million.
Revenues
reflect
an
increase
in
premiums
earned
due
to
the
acquisition
of
FirstChoice's
Medicaid
line
of
business.
Net
income
was
partially
offset
by
an
increase
in
expenses
related
to
the
acquisition. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Kiran Patel, M.D., 51 | Chairman,
Pres, CEO, Sec. | Hitesh Adhia, 36 | CFO,
Treasurer | Kenneth Rossman, 42 | CAO | Sandip Patel, 33 | Gen.
Counsel |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|