North American Medical Management: Difference between revisions
Added Anderson Consulting |
Spelling and changed embezzeled amount |
||
| Line 13: | Line 13: | ||
|title=Metamor spin-off COMSYS finalizes $116 million purchase |url=http://www.bizjournals.com/houston/stories/2000/07/03/newscolumn3.html |work=Houston Business Journal |publisher= |date=Friday, June 30, 2000 |accessdate=2008-07-15 }}</ref>. |
|title=Metamor spin-off COMSYS finalizes $116 million purchase |url=http://www.bizjournals.com/houston/stories/2000/07/03/newscolumn3.html |work=Houston Business Journal |publisher= |date=Friday, June 30, 2000 |accessdate=2008-07-15 }}</ref>. |
||
North American Medical Management is the company that hired US con artist [[Steven Jay Russell]]. Russell was hired as the CFO in 1993 and |
North American Medical Management is the company that hired US con artist [[Steven Jay Russell]]. Russell was hired as the CFO in 1993 and embezzled hundreds of thousands of dollars from the company<ref>http://en.wikipedia.org/wiki/Steven_Jay_Russell</ref>. |
||
==References== |
==References== |
||
Revision as of 20:48, 15 July 2008
 | This article needs additional citations for verification. (July 2008) |
North American Medical Management (NAMM) was a manager of independent physician associations.
The company was founded in Houston, TX by president Herb Fritch[1]. In 1995, NAMM was sold to publicly traded company PhyCor Inc. of Nashville, TN. At one time NAMM managed 19 Independent Physician Agency's (IPA's) representing 1,900 doctors in the Houston area and "NAMM eventually went out of business in late 2000 after a tumultuous year of doctor defections, debt woes and governmental oversight"[2] [3]
North American Medical Management started running into financial struggles in 2000, while at the same time parent company PhyCor was having financial troubles of their own. Payments to doctors and IPA's were not being made in a timely manner, and at first NAMM placed blame on a new computer system the company had switched over to in 1999[4]. In 1999 NAMM was on a system that was not y2k compliant and consulted with Anderson Consulting, a spin-off from Arthur Anderson, to have a complaint system built. The system was built, and once implemented, created a slow down in claims processing time.
More financial troubles of North American Medical Management was caused by an audit performed by the Business Software Alliance in 1999. NAMM paid $434,489 in fines associated with illegally installed versions of unlicensed software. This fine was the "largest settlement of five Texas companies that paid a total of $750,000 to settle similar claims"[5].
North American Medical Management is the company that hired US con artist Steven Jay Russell. Russell was hired as the CFO in 1993 and embezzled hundreds of thousands of dollars from the company[6].
References
- ^
"Herbert A Fritch. CEO/Chairman of the Board/President/Director at HealthSpring, Incorporated, Franklin, Tennessee". Forbes. Retrieved 2008-07-14.
{{cite news}}: Cite has empty unknown parameter:|coauthors=(help) - ^ Wollam, A: "Fritch executes healthy turnaround at Renaissance", Vol. 32, Iss. 38, page 2. Houston Business Journal, 2002.
- ^ Rutledge, Tanya (Friday, August 11, 2000). "Doctors' group warns creditors of cash shortfall". Houston Business Journal. Retrieved 2008-07-14.
{{cite news}}: Check date values in:|date=(help); Cite has empty unknown parameter:|coauthors=(help) - ^ Rutledge, Tanya (Friday, August 11, 2000). "Doctors' group warns creditors of cash shortfall". Houston Business Journal. Retrieved 2008-07-15.
{{cite news}}: Check date values in:|date=(help); Cite has empty unknown parameter:|coauthors=(help) - ^ Darwin, Jennifer (Friday, June 30, 2000). "Metamor spin-off COMSYS finalizes $116 million purchase". Houston Business Journal. Retrieved 2008-07-15.
{{cite news}}: Check date values in:|date=(help); Cite has empty unknown parameter:|coauthors=(help) - ^ http://en.wikipedia.org/wiki/Steven_Jay_Russell
 | This United States corporation or company article is a stub. You can help Wikipedia by expanding it. |