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HEALTHCARE COMPARE CORP. REPORTS CONTRACT WITH HEWLETT-PACKARD

 DOWNERS GROVE, Ill., Oct. 11 /PRNewswire/ -- James C. Smith, president and chief executive officer of HealthCare COMPARE Corp. (NASDAQ: HCCC), announced today that the company has entered into an agreement to provide PPO services to Hewlett-Packard Company (HP) (NYSE: HWP) through FIRST HEALTH Strategies Inc., a wholly owned subsidiary of First Financial Management Corp. (FFMC).
 Smith noted that he was very pleased with the signing of this agreement since Hewlett-Packard is one of the largest corporations in the country. "This agreement will significantly increase HealthCare COMPARE's presence in various markets across the nation and increase its leverage in negotiations with provider groups in these areas," he said.
 Hewlett-Packard Company is an international manufacturer of measurement and computation products and systems recognized for excellence in quality and support. Hewlett-Packard employs more than 93,000 people worldwide and had revenue of $16.4 billion in its 1992 fiscal year. As of the 1993 Fortune 500 rankings, Hewlett-Packard was the 24th largest company in America.
 FIRST HEALTH is the nation's largest independent provider of claims administration and health care management services to self-funded employee health plans sponsored by employers such as Hewlett-Packard. This agreement represents the continued growth and development of the strategic alliance between FIRST HEALTH and COMPARE to provide PPO services to FIRST HEALTH's significant national client base.
 HealthCare COMPARE Corp. is America's leading independent provider of medical cost management services and offers the most comprehensive managed care programs available. COMPARE provides utilization management (COMPARE Medical Review Programs), computer-assisted bill review and pricing services (OUCH Systems) and negotiation of fixed price contracts with medical providers to develop and maintain preferred provider networks (The AFFORDABLE Medical
Networks) for the exclusive use of its clients. The company achieves significant medical cost savings for both group health and workers' compensation clients, without compromising the quality of care or freedom of choice.
 -0- 10/11/93
 /CONTACT: James C. Smith, president and CEO, or Joseph E. Whitters, CFO of HealthCare COMPARE Corp., 708-241-7900/
 (HCCC HWP)


CO: HealthCare COMPARE Corp.; Hewlett-Packard Company ST: Illinois IN: HEA CPR SU: CON

CK -- NY053 -- 0820 10/11/93 17:35 EDT
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Publication:PR Newswire
Date:Oct 11, 1993
Words:352
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