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References
- ↑ V. Fobister (November 23, 1998). "State Declares HIP of New Jersey Insolvent". American Medical News : 11.
- 1 2 Smothers, Ronald (March 6, 1999). "Spurning Rescue Bid, Judge Orders an H.M.O. to Close". New York Times . Retrieved 2009-03-12.
If the ruling stands, it would end a nearly five-month-long drama that plunged HIP's 165,000 patients into confusion and health providers into a frenzy to recoup the nearly $120 million they are owed by the plan and Pinnacle Health Enterprises, a Virginia company that went bankrupt after entering into a medical management contract with HIP promising to make it more competitive.
- ↑ "Health Insurance Plan of New Jersey". Superior Court of New Jersey. 1998. Retrieved 2016-07-08.
- ↑ Smothers, Ronald (February 10, 1999). "Failed H.M.O. Is to Be Shut In New Jersey". New York Times . Retrieved 2009-03-12.
In interviews two months ago, state regulators said that the heart of the company's problem was a year-old contract it had with a private company, Pinnacle Health Enterprises, which was supposed to infuse the insurer with new capital and management expertise. In the end, Pinnacle was found to have neither the capital nor the expertise necessary to keep H.I.P. of New Jersey afloat, so the state moved to take it over.
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