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Amerigroup posts 14.6% rise in revenues for Q3

Amerigroup has a reported total revenue of $1.5bn for the third quarter of 2010, compared to $1.3bn in the same quarter of the last year.

The company reported net income of $84.3m, or $1.7 per diluted share for the third quarter of 2010, compared to $22.5m, or $0.43 per diluted share, for the same quarter of 2009.

The reported premium written for the third quarter of the 2010 was $1.5bn, compared to $1.3bn in the same corresponding quarter of 2009.

Amerigroup chairman and CEO James Carlson said, the membership grew and generated strong cash flow, allowing the company to build the unregulated cash position, even as it actively repurchasing shares.

“Most importantly, we improved the services provided to our members and state partners, continuing our progress to improve access to care and enhance clinical quality outcomes, Carlson said.