SELLING HMO TO FOR-PROFIT PONDERED HARVARD PILGRIM CONVERSION SEEN RISKY FOR HOSPITALS

From: The Boston Globe | Date: February 17, 2000| Author: Richard A. Knox, and Liz Kowalczyk, Globe Staff | Copyright information

A for-profit conversion of Harvard Pilgrim Health Care is now "the centerpiece on the bargaining table," one Boston hospital executive said yesterday.

But the sale of 1.1 million-member Harvard Pilgrim to an investor- owned HMO may hold financial risks for Massachusetts hospitals just as great as hospital loans unsecured by state guarantees, an option rejected last weekend by Attorney General Thomas F. Reilly.

Hospital executives and analysts who follow the troubled HMO industry ...

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