ABOUT THE COMPANY (source Press Release 7-25-07)
Prospect Medical Holdings manages the medical care of individuals enrolled in HMO plans in Southern California. The Company, through its Independent Physician Associations ("IPAs"), contracts with health care professionals to provide a full range of services to HMO enrollees. Services provided by Prospect include contract negotiations, physician recruiting and credentialing, HR, claims administration, financial services, provider relations, case management, quality assurance, data collection and MIS.
Company Description (source Marketwatch)
Prospect Medical Holdings, Inc. is a health care management services organization. The Company provides management services to affiliated physician organizations that operate as independent physician associations or medical clinics. Their affiliated physician organizations enter into agreements with health maintenance organizations to provide enrollees of the HMOs with a full range of medical services in exchange for fixed, prepaid monthly fees known as "capitation" payments. Through three management subsidiaries, they have entered into long-term agreements to provide management services to each of their affiliated physician organizations in exchange for a management fee. The management services they provide include negotiation of contracts with physicians and HMOs, physician recruiting and credentialing, human resources services, claims administration, financial services, provider relations, member services, case management including utilization management and quality assurance, data collection, and management information systems.