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PROVIDENCE HEALTH PLAN GETS AN “A”
FOR EXCELLENCE FROM A.M. BEST
April 16, 2007
BEAVERTON, Ore. - Providence Health Plan (PHP) has just become the only Oregon-based health insurer - and the only provider-sponsored health plan in the nation - to receive an A (excellent) rating from A.M. Best, the world’s oldest and most authoritative insurance rating and information source. PHP moves up from the A-minus rating it received last year.
“This rating is a tribute to the people of PHP - people dedicated to doing all they can to make sure our customers are getting the most affordable, cost-effective health care possible,” says Jack Friedman, chief executive, Providence Health Plan.
In announcing the rating, A.M. Best credited PHP’s “operating performance, consistent growth in membership and strong capitalization.” The firm noted that PHP’s growth has been fueled by “innovation of new products along with competitive pricing” as well as PHP’s “successful medical management programs and investments in technology.” A.M. Best also noted that PHP’s financial strength is enhanced by its relationship to Providence Health System.
A.M. Best rating information is used by insurance brokers and others to help make decisions about insurance plans and to help compare insurance providers.
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Providence Health Plan provides health care coverage services to more than 250,000 adults and children in Oregon, Washington and Alaska. Providence focuses on improving the health of its members by creating access to high quality health care programs and preventive services through top-rated benefit plans that are preferred by providers and customers. Providence Health Plan is part of Providence Health System, Oregon’s largest network of health services and the state’s second-largest private employer. Visit www.providence.org/healthplans .
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