FPA Medical stops paying its doctors in parts of 3 states
Article Abstract:
Cash strapped physician management company FPA Medical Management Inc. stopped paying some doctors in parts of California, Nevada and Arizona. State regulators and some medical societies have become more involved in the situation. FPA missed a $2.6 million interest payment on its $75 million convertible subordinated debentures. FPA is running in the red in regions of California, Nevada and Arizona. FPA operates a network of 7,900 physicians that treat about 1.4 million people in 29 states under contracts with health maintenance organisations.
Comment:
Stopped paying some doctors; seems to be in possible financial troubles
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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FPA's CEO received salary increase five days before Chapter 11 filing
Article Abstract:
FPA Medical Management Inc.'s new CEO, Stephen J. Dresnick, was awarded a $525,000 salary hike five days before the company filed for Chapter 11 bankruptcy. Mr. Dresnick was also offered a bonus that could be worth more than $1 million once the firm comes out of bankruptcy. Mr. Dresnick's salary was increased from $325,000 to $850,000 upon his appointment as CEO. The raise is retroactive to March 26, 1998, which is the date of his appointment.
Comment:
New CEO, Stephen J. Dresnick, awarded a $525,000 salary hike five days before the company filed for Chapter 11 bankruptcy
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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PacifiCare offers medical-quality index
Article Abstract:
PacifiCare Health Systems Inc. will introduce a "quality index" that will rank the performances of the company's largest medical groups located in California. The new index is designed to aid consumers in their search for the best physicians. The leading medical performers will have a blue-ribbon icon featured next to it in PacifiCare's new provider directory. The directory is scheduled to be released in September 1998.
Comment:
Will introduce a "quality index" that will rank the performances of the company's largest medical groups located in California
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
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