Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Molina Healthcare, Inc.    MOH

News SummaryMost relevantAll newsSector news 

Molina Healthcare, Inc. : Molina's Medicaid Claims Processing System Receives Full Federal Certification in Idaho

share with twitter share with LinkedIn share with facebook
share via e-mail
07/17/2012 | 10:05pm CET

Idaho Receives Maximum Federal Funding for New System

Molina Healthcare, Inc. (NYSE: MOH) announced today that the Medicaid Management Information System (MMIS) implemented in Idaho by its wholly owned subsidiary, Molina Medicaid Solutions, has received full federal certification from the Centers for Medicare and Medicaid Services (CMS). The certification follows a week of rigorous on-site testing of the system, as well as a subsequent evaluation by CMS. As a result of the CMS certification, the state of Idaho is entitled to receive federal reimbursement of 75 percent of its MMIS operations costs retroactive to June 1, 2010, the date that the system first began processing claims.

"Federal certification is a significant milestone because it allows the state of Idaho to access maximum federal funding for its Medicaid claims processing system," said Norm Nichols, president of Molina Medicaid Solutions. "We are gratified by the achievement of this milestone and will continue to work closely with Idaho's Department of Health and Welfare and the Idaho health care community to serve the state's Medicaid recipients."

The claims payment system serves over 230,000 participants and handles more than 140,000 claims per week. The federal government required the system upgrade, with conversion to Molina's system occurring in June 2010.

"Molina Healthcare has been an excellent partner with our claims processing system," says Richard Armstrong, director of the Idaho Department of Health and Welfare. "When problems arose, Molina brought in the necessary resources and worked closely with us to correct the issues. Idaho can be proud of the high-performing system we have today."

The initial conversion encountered issues during the first months of operation; however, because of the combined efforts of Molina and state staff, significant progress has been realized. "The system is now performing beyond expectations in some areas, while continuing to show improvement in others," according to DHW Director Armstrong.

Federal certification increases the share of the claims processing costs the federal government will pay for monthly operations. With an uncertified system, the federal government contributes approximately 50 percent of claims processing costs, with the state paying the other half. With a certified system, the federal government pays 75 percent of costs, reducing the state's share.

About Molina Healthcare, Inc.

Molina Healthcare, Inc. (NYSE: MOH), a FORTUNE 500 company, provides quality and cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals and to assist state agencies in their administration of the Medicaid program. Our licensed health plans in California, Florida, Michigan, New Mexico, Ohio, Texas, Utah, Washington, and Wisconsin currently serve approximately 1.8 million members, and our subsidiary, Molina Medicaid Solutions, provides business processing and information technology administrative services to Medicaid agencies in Idaho, Louisiana, Maine, New Jersey, and West Virginia, and drug rebate administration services in Florida. More information about Molina Healthcare is available at www.molinahealthcare.com.

Molina Healthcare, Inc.
Juan José Orellana, 562-435-3666, ext. 111143
Investor Relations
Sunny Yu, 562-901-1039
Public Relations

© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
12/08DJDOJ Questions Aetna-Humana Asset Sale Plan in Court
12/06 MOLINA HEALTHCARE : Increases Its Medicare Star Quality Ratings
12/05DJAetna and Humana Argue a Merger's Benefits as Antitrust Trial Begins
11/25 MOLINA HEALTHCARE : 'Healthy Mind, Healthy Body' Initiative Will Provide Custom ..
11/22 MOLINA HEALTHCARE : Families in Rialto given free groceries for Thanksgiving
11/15 BUYINS.NET : CLI, MOH, DISCA, SCHB, URTY, SDY Are Seasonally Ripe To Go Up In th..
11/04 MOLINA HEALTHCARE : How Obamacare may sway voters in this election
10/29 MOLINA HEALTHCARE : ACA risk adjustment eats 25 percent of Molina exchange reven..
10/27 MOLINA HEALTHCARE : beats Street 3Q forecasts
10/27 MOLINA HEALTHCARE : Management's Discussion and Analysis of Financial Condition ..
More news
Sector news : Healthcare Facilities & Services - NEC
12/05 CAMBIAN : UK health firm Cambian to sell adult services unit for 377 mln stg
11/24DJIHH HEALTHCARE BHD : Malaysia's IHH Healthcare 3Q Net Profit Up 46%
11/18 Synlab ready to snap up more lab chains after debt deal
11/16 South Africa's Life Healthcare to buy controlling stake in Britain's Alliance..
11/09 Pharma, biotech shares soar as Trump win calms pricing talk
More sector news : Healthcare Facilities & Services - NEC
News from SeekingAlpha
12/02 Is 'Value' Alive And Well? Let's Ask The '29.9% In 9 Months' Portfolio...
12/01 GREENBLATT WIZARDRY : A Quantitative Look At The Magic Formula
11/30 BACKTESTING 101, PART 2 : Making Sense Of The Data
11/27 The Low EV/EBIT Strategy, Large Cap Update 2016 YTD
11/24 BACKTESTING 101, PART 1 : The Misunderstood Investing Tool
Financials ($)
Sales 2016 17 805 M
EBIT 2016 425 M
Net income 2016 139 M
Finance 2016 711 M
Yield 2016 -
P/E ratio 2016 22,48
P/E ratio 2017 16,43
EV / Sales 2016 0,13x
EV / Sales 2017 0,12x
Capitalization 3 108 M
More Financials
Duration : Period :
Molina Healthcare, Inc. Technical Analysis Chart | MOH | US60855R1005 | 4-Traders
Full-screen chart
Technical analysis trends MOLINA HEALTHCARE...
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 12
Average target price 59,7 $
Spread / Average Target 9,1%
Consensus details
EPS Revisions
More Estimates Revisions
Joseph Mario Molina Chairman, President & Chief Executive Officer
Terry P. Bayer Chief Operating Officer
John C. Molina Chief Financial Officer, Treasurer & Director
Martha Molina Bernadett Executive Vice President-Research & Development
Rick Hopfer Chief Information Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DAVITA INC-4.92%13 084
More Results