Coastal Forms Alliance with HealthPlan Services Corporation.DURHAM, N.C.--(BUSINESS WIRE)--May 10, 1995--Coastal Healthcare Group Inc. (NYSE NYSE See: New York Stock Exchange :DR) announced today that it has formed an alliance with HealthPlan Services Corporation to design managed care programs to take advantage of the opportunities available in the small group employer markets, initially focusing on south Florida. "The combination of HealthPlan Services' extensive affiliated broker network with our provider organization will enable us to focus on the small group business marketplace," stated Steven M. Scott, M.D., Coastal's president and chief executive officer. "This should provide the opportunity to expand and diversify within the Florida marketplace as well as provide a source of additional revenue for our physician network." HealthPlan Services Corporation is a leading managed health care services company delivering marketing, distribution, administrative and cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. services primarily to the small business marketplace. The company provides these services on behalf of insurance companies, preferred provider organizations pre·ferred provider organization n. Abbr. PPO A medical insurance plan in which members receive more coverage if they choose health care providers approved by or affiliated with the plan. (PPOs), health maintenance organizations (HMOs) and health care purchasing alliances to approximately 70,000 small businesses, which employ over 350,000 people located in all 50 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . Coastal Healtcare Group Inc. -- The Physician Company, is the largest physician management company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and provides a broad range of health care and administrative services to physicians, hospitals, employers, managed care programs and other health care providers. CONTACT: Coastal Healthcare Inc. David Singley, 919/383-0355 or Edelman Financial Robert Borchert, 212/704-8293 |
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