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HEALTHCARE COMPARE CORP. REPORTS RECORD RESULTS, 31 PERCENT EARNINGS GAIN

 DOWNERS GROVE, Ill., Aug. 2 /PRNewswire/ -- James C. Smith, president and chief executive officer of HealthCare COMPARE Corp. (NASDAQ: HCCC), announced today that revenues for the second quarter ended June 30, 1993, increased 20 percent to $38,860,000 from $32,501,000 during the same quarter a year ago. Earnings for the second quarter increased 31 percent to $9,283,000 or $.26 per share, compared with $7,076,000 or $.20 per share during the same quarter last year.
 Revenues for the six months ended June 30, 1993, increased 19 percent to $76,272,000 compared with $63,894,000 for the same period last year. Net income increased 38 percent to $18,208,000 or $.51 per share for the six months ended June 30, 1993, compared to net income of $13,199,000 or $.37 per share for the same period last year. The results for the six months ended June 30, 1992, excluded $16 million of expenses related to the February merger with Occupational-Urgent Health Care Systems, Inc. (OUCH).
 Smith noted that with the recent signing of an agreement with Employee Benefit Plans, Inc. for utilization management services and a letter of agreement with WellPoint, Inc. for PPO services, as well as increased sales activity with new clients, he was particularly encouraged with the company's business momentum.
 HealthCare COMPARE Corp. is America's leading independent provider of medical costs 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 our clients. We achieve significant medical cost savings for both group health and workers' compensation clients...without compromising the quality of care for freedom of choice.
 HEALTHCARE COMPARE CORP.
 (Unaudited, in thousands except for EPS)
 Three months ended Percent
 June 30 1993 1992 Increase
 Revenues $38,860 $32,501 20
 Income Before Income Taxes 15,218 11,584 31
 Net Income 9,283 7,076 31
 Net Income Per Common Share $ .26 $ .20 30
 Weighted Average Shares
 Outstanding 35,413 35,383
 Six months ended Percent
 June 30, 1993 1992(A) Increase
 Revenues $76,272 $63,894 19
 Income Before Income Taxes 29,802 21,657 38
 Net Income 18,208 13,199 38
 Net Income Per Common Share $ .51 $ .37 38
 Weighted Average Shares
 Outstanding 35,417 35,377
 (A)Results exclude a one time pretax restructuring charge of $16 million ($11.5 million after tax or $.32 per share) incurred in the first quarter in connection with the February 1992 merger with Occupational-Urgent Care Health Systems, Inc. (OUCH). If this charge were included, net income for the six months would have been $1,699,000 or $.05 per share.
 HEALTHCARE COMPARE CORP.
 (In thousands)
 Three Months Ended Percent
 June 30, 1993 1992 Increase
 Revenue Information:
 PPO and Fee Schedule Services $30,434 $25,200 21
 Utilization Review Services 6,696 6,150 9
 Government Contract Services 1,730 1,151 50
 Total $38,860 $32,501 20
 Six Months Ended Percent
 June 30, 1993 1992 Increase
 PPO and Fee Schedule Services $59,708 $48,905 22
 Utilization Review Services 13,574 12,623 8
 Government Contract Services 2,990 2,366 26
 Total $76,272 $63,894 19
 Summary Balance Sheet Information:
 Period ending 6/30/93 12/31/92
 Cash and Short-term Investments $ 92,867 $ 73,109
 Accounts Receivable 22,080 20,778
 Fixed Assets, Net 46,821 44,978
 Other Assets 2,542 7,228
 Total Assets $164,310 $146,093
 Liabilities $ 15,459 $ 15,788
 Stockholders' Equity 148,851 130,305
 Total Liabilities and
 Stockholders' Equity $164,310 $146,093
 -0- 8/2/93
 /CONTACT: James C. Smith, president and CEO, or Joseph E. Whitters, chief financial officer of HealthCare COMPARE Corp., 708-241-7900/
 (HCCC)


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

MP -- NY033 -- 8247 08/02/93 09:57 EDT
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Date:Aug 2, 1993
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