Word: for-profit
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...choice of words. The Association of American Medical Colleges reported last November that medical-loss ratios of for-profit HMOs paying a flat fee to doctors for treatment averaged only 70% of their premium revenue. The remaining 30% went for administrative expenses--and profit. Other surveys have yielded less alarming figures, and even among profit-making HMOs, there is a wide range. One managed-care plan in New Jersey spent only 59% of its premium dollars on care, while some California for-profit HMOs pay out as much as 88%. But few of the profitmakers pay out as much...
Sweeney further notes that Radcliffe, as a not-for-profit organization, is not subject to the same standards of fiscal responsibility as for-profit groups. Radcliffe, she says, might reasonably engage in deficit spending if such a policy benefits its students...
...widely acknowledged, though, that the dealers were running a heavily for-profit operation, and they were, as one Harvard Police officer called them, "major players." For this reason, we feel their sentence was too light, in that two years' probation is not enough and their fines should be greater than the $2,500 they will pay in court fees. We would have endorsed a harsher punishment as long as they were kept out of prison. We realize that had Blankenship and David been, for example, poor residents of the projects of Cambridge, their sentence may not have been as lenient...
...staff gladly compliments the administration where no compliment is due. Loker Commons was never meant to be a for-profit restaurant, nor could it be under what we assume to be the charitable nature of the gift of Katherine Bogdanovich Loker. Harvard deserves no congratulations for complying with local laws which seek to protect Cambridge's tax base of profitable businesses...
...Healthcare's operating style has paid off big for management. As Weiner notes, "A lot of people, particularly physicians, have criticized the many millions of dollars of profits ceos of U.S. Healthcare and other for-profit managed-health-care companies have made." Leonard Abramson, the founder of U.S. Healthcare, whom Compton hails as a "visionary genius," stands to pocket some $920 million in cash and stock from the merger--not bad for a guy who drove a cab to put himself through pharmacy school. Last week Abramson boasted, "We intend to set the standard against which all health-care companies...