Who Makes Profit From Medical Care ?

Arkansas Medical Society: " According to a new financial report from financial firm Weiss Ratings, HMOs nearly doubled their net profits last year, earning $10.2 billion in 2003 compared to $5.5 billion in 2002. Kaiser Permanente, accounted for one-fifth of the HMO industry�s profit increase, reporting increased earnings of $1.1 billion. The nation�s BlueCross BlueShield plans reported that their combined profits increased 63 percent last year, to $5.4 billion in 2003 up from $3.3 billion in 2002. �The industry�s soaring profits continue to irk both consumers and businesses who are shouldering sky-rocketing health care costs without any perceived improvement in benefits,� said Melissa Gannon, Vice President of Weiss. Of the 502 HMOs surveyed by Weiss, 24 companies were financially upgraded and 14 were downgraded. � Modern Healthcare, August 30, 2004"