LAS VEGAS-Sunrise Hospital and Medical Center, on the city's east side, broke ground last month on a new 110-bed satellite facility on the northwest side. The $50 million, 200,000-square-foot Sunrise MountainView will open in January 1996, creating approximately 500 new jobs. Services at 688-bed Sunrise will be unchanged.
REDLANDS, Calif.-Executives at Pacific Physician Services said they hope the company's recent acquisitions of a 102-bed hospital and two group practices will improve its profitability. For the fourth quarter ended July 31, the prepaid healthcare management company reported net income of $2.1 million, equal to last year's fourth quarter, while operating revenues increased 64.4% to $61.5 million. For the year, net income rose 14.8% to $7 million, or 54 cents per share, compared with $6.1 million, or 57 cents per share, in fiscal 1993. Revenues increased 62.3% to $210.2 million. PPS President and Chief Executive Officer Gary L. Groves, M.D., said the acquisition of U.S. FamilyCare Medical Center in Montclair, Calif., "should enable us to more efficiently control costs and quality." He said letters of agreement to acquire groups in Las Vegas and Raleigh, N.C., "give the company access to new markets to develop."
SANTA ANA, Calif.-FHP Health Care, a Fountain Valley, Calif.-based managed-care provider, said it reduced neonatal intensive-care costs by 34% in Colorado after forming an alliance with Santa Ana-based Tokos Medical Corp. in 1993. Tokos provides prenatal and maternal-newborn-care services. As part of the joint effort, the two companies in 1993 developed a "Small Wonders" program that provides women with high-risk pregnancies risk screening, education and intervention programs. The program integrated comprehensive maternity risk-management services provided by Tokos and FHP-affiliated companies. Total costs of the program or amounts each provider contributed to the program weren't disclosed. However, the preventive-care program has reduced FHP's neonatal intensive-care costs in Colorado to $1.3 million in 1993 from $2 million in 1992. The Small Wonders program was offered to nearly 3,000 patients enrolled in FHP/Comprecare, an Aurora, Colo.-based HMO and FHP Health Care subsidiary.