Word: pilgrimate
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...Harvard Pilgrim Health Care (HPHC), Massachusetts' largest health management organization (HMO), has been in desperate straits since last month when the state placed it under receivership for its huge losses in the fiscal year 1999. Now HPHC is waiting to hear whether the necessary investors can be cajoled into bailing out the non-profit HMO. One of those investors is Harvard University...
Massachusetts State Attorney General Thomas F. Reilly is considering a new Harvard proposal to rescue the financially-troubled Harvard Pilgrim Health Care...
...plan, which University officials said was at the conceptual stage, employers who provide health care through Harvard Pilgrim would invest in the HMO to keep it afloat...
...idea of employers who use Harvard Pilgrim to bail out the HMO was hatched after informal consulation with the companies involved, Harvard spokesperson Joe Wrinn said...
...Harvard Pilgrim, which lost $197 million in 1999, needs $300 million before it can be considered financially secure enough to resume operations...