Coventry Health Care Announces Initial Results of Arbitration With Provider Group.Business Editors/Health & Medical Writers BETHESDA, Md.--(BUSINESS WIRE)--Dec. 29, 1999 Coventry Health Care Coventry Health Care, Inc. (Coventry) (NYSE: CVH) is a managed health care company in the United States. On February 8th of 2007 Coventry agreed to acquire Concentra's Workers Compensation Managed Care Services Businesses. External links
GHP Geisinger Health Plan (Danville, PA) GHP Governor's Honors Program GHP Good Handling Practices (food safety) GHP Grand High Priest ), and Unity Health Network, L.L.C. (Unity) have received a ruling from their binding arbitration related to certain contractual disputes. As previously disclosed in Coventry's Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 30, 1999, GHP and Unity entered into binding arbitration to resolve disputes relating to their 1997, 1998, and 1999 provider risk-sharing agreements. The arbitration panel ruled that the final risk-sharing settlement for the 1997 and 1998 contract years requires a payment by both parties, the net of which is immaterial to GHP. The panel also upheld the terms of the risk-sharing agreement for the 1999 contract year. An additional ruling on certain elements of the dispute and settlement of the 1999 risk-sharing contract are expected by the end of the second quarter of 2000. Coventry Health Care is a managed health care company based in Bethesda, Maryland operating health plans under the names Coventry Health & Life Insurance Company, Coventry Health Care, HealthAmerica, HealthAssurance, HealthCare USA, Group Health Plan, Southern Health and Carelink. The Company provides a full range of managed care products and services including HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there , POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale , Medicare Risk and Medicaid to 1.4 million members in a broad cross section of employer and government-funded groups in 15 markets throughout the Midwest, Mid-Atlantic and Southeast United States. More information is available on the Internet at http://www.cvty.com. This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements relate to future events or future financial performance and may be significantly impacted by certain risks and uncertainties described in the Company's Annual Report on Form 10-K for the year ended December 31, 1998 filed with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion