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Home > Fortune 500 Companies > Pacificare Health Sys
Pacificare Health Sys
PacifiCare Health Sys is a publicly traded company having a good stock performance result. PacifiCare Health Sys is a fortune 500 stock listed company trading under PHS.
PacifiCare Health Systems is one of the nation's largest consumer health organizations with more than 3 million health plan members and approximately 9 million specialty plan members nationwide. Howard G. Phanstiel joined PacifiCare Health Systems, Inc. as executive vice president and chief financial officer in July 2000. In October 2000, he was named to PacifiCare's board of directors, and in December 2000 he was appointed president and chief executive officer. In March 2004, PacifiCare's board of directors elected Phanstiel Chairman. UnitedHealth acquired PacifiCare in a deal valued at over 8 billion dollars in cash and stock in late 2005. PacifiCare offers employers, individuals and Medicare beneficiaries a diversity of consumer-driven health care and life insurance products.
Company experienced solid year-over-year growth with their third quarter earnings, which were ahead of consensus expectations and their guidance after excluding the one-time items, and Part D readiness costs. Third quarter 2005 total operating revenue of 3.8 billion dollars was 21percent higher than the same quarter a year ago. Total commercial revenue rose 22percent, driven by an 8.6percent rise in premiums per member per month and 14percent growth in fully insured, including the acquisitions of American Medical Security Group and the group health business of Pacific Life Insurance Company. Senior revenue grew 19percent over the third quarter of last year, primarily as the consequence of a premium increase of 11.9percent and a 7percent rise in membership.
Specialty and Other revenue grew 34percent over the third quarter last year, mainly as the result of membership growth and increases in retail service contract and mail order fulfillment revenues at PacifiCare’s pharmacy benefit management company. Additionally, membership increased year-over-year at PacifiCare’s behavioral health and dental and vision businesses by 27percent and 43percent, respectively. Medical claims and benefits payable totaled around 1.3 billion dollars at September 30, 2005, which was an increase of around 58 million dollars from the prior quarter.
They are a health and consumer services company making people's lives better. They will establish a position as a recognized industry leader in innovation and quality whose members benefit from superior service, clinical and cost outcomes.
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