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HEALTHCARE COMPARE CORP. REPORTS RECORD RESULTS, 26 PERCENT EARNINGS GAIN

 DOWNERS GROVE, Ill., Nov. 1 /PRNewswire/ -- James C. Smith, president and chief executive officer of HealthCare COMPARE Corp. (NASDAQ: HCCC), announced today that revenues for the third quarter ended Sept. 30, 1993 increased 17 percent to $39,717,000 from $33,805,000 during the same quarter a year ago. Earnings for the third quarter increased 26 percent to $9,917,000 or $.28 per share, compared with $7,898,000 or $.22 per share during the same quarter last year.
 Revenues for the nine months ended Sept. 30, 1993 increased 19 percent to $115,989,000 compared with $97,699,000 for the same period last year. Net income before restructuring expenses related to the first quarter 1992 merger with Occupational-Urgent Care Health Systems, Inc. (OUCH) increased 33 percent to $28,125,000 or $.79 per share for the nine months ended Sept. 30, 1993 compared to net income of $21,097,000 or $.59 per share for the same period last year.
 Smith noted that he was pleased with the quarterly results which are a direct result of the continued growth of the company's PPO business and expense controls that the company has initiated throughout the year. Smith also noted that the business from its third party administrator clients which include First Health, Employee Benefit Plans and R.E. Harrington was showing solid growth every quarter.
 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. It achieves significant medical cost savings for both group health and workers' compensation clients without compromising the quality of care or freedom of choice.
 HealthCare COMPARE Corp.
 (000s omitted except for EPS)
 (unaudited)
 THREE MONTHS ENDED
 SEPT. 30, Percent
 1993 1992 increase
 Revenues $39,717 $33,805 17
 Income before income taxes 16,273 12,875 26
 Net income 9,917 7,898 26
 Net income per common share $.28 $.22 27
 Weighted average shares
 outstanding 35,444 35,443 --
 NINE MONTHS ENDED
 SEPT. 30,
 1992
 Results
 Reported Before Percent
 1993 Results Restructuring Increase
 Expenses
 Revenues $115,989 $97,699 $97,699 19
 Income before
 income taxes 46,075 18,532 34,532 33 (a)
 Net income 28,125 9,597 21,097 33 (a)
 Net income per
 common share $.79 $.27 $.59 34 (a)
 Weighted average
 shares outstanding 35,435 35,384 35,384 --
 (a) Increase represents the change from 1992 to 1993 before restructuring expenses.
 HealthCare COMPARE Corp. (000s ommitted)
 THREE MONTHS ENDED SEPT. 30,
 REVENUE INFORMATION: 1993 1992 Percent
 increase
 PPO and fee schedule services $31,616 $26,704 18
 Utilization review services 6,671 5,992 11
 Government contact services 1,430 1,109 29
 TOTAL $39,717 $33,805 17
 NINE MONTHS ENDED SEPT. 30,
 1993 1992 Percent
 increase
 PPO and fee schedule services $91,324 $75,609 21
 Utilization review services 20,245 18,615 9
 Government contact services 4,420 3,475 27
 TOTAL $115,989 $97,699 19
 SUMMARY BALANCE SHEET INFORMATION:
 Sept. 30, 1993 Dec. 31, 1992
 Cash and short term investments $103,825 $ 73,109
 Accounts receivable 21,757 20,778
 Fixed assets, net 46,645 44,978
 Other assets 3,267 7,228
 TOTAL ASSETS $175,494 $146,093
 Liabilities $ 16,163 $ 15,788
 Stockholders' equity 159,331 130,305
 Total liabilities and
 stockholders' equity $175,494 $146,093
 -0- 11/1/93
 /CONTACT: James C. Smith, president and CEO, or Joseph E. Whiters, CFO, both of HealthCare COMPARE, 708-241-7900/
 (HCCC)


CO: HealthCare COMPARE Corp. ST: Illinois IN: HEA SU: ERN

LG -- NY028 -- 9042 11/01/93 10:13 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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