PhyAmerica has financed its operations with NCFE since June of 1997

You know what is so amazing? That all of the MANAGED CARE Compnaies that our healthcare system is based upon have all filed for "Reorganization" ; even as the cost to the average American sky rockets!!! What is wrong wiuth this picture? Hw much money have these so-called CEO's CFO's EX VP's of all shapes and sizes have accumulated even while under reorganization? Hmmmmmm.......smell something RANCID?


PhyAmerica Physician Group, Inc. Seeks Plan of Reorganization
Business Wire, Nov 12, 2002
Business Editors/Health/Medical Writers

DURHAM, N.C.--(BUSINESS WIRE)--Nov. 12, 2002

PhyAmerica Physician Group, Inc. today announced that it is seeking to reorganize its outstanding indebtedness with National Century Financial Enterprises, Inc. (NCFE) of Dublin, Ohio and has filed for a court supervised reorganization.

PhyAmerica's petition to reorganize under Chapter 11 was filed on Monday, November 11 in Baltimore, Maryland. Also included in the petition were ECS Holdings, Inc. (ECS), PhyAmerica Government Services, Inc. and Integrated Provider Networks, P.A. (IPN).
PhyAmerica has financed its operations with NCFE since June of 1997. However, NCFE began to experience financial problems a few weeks ago which led to a cessation of funding by NCFE. PhyAmerica became aware of the difficulties at NCFE in mid-October when scheduled funding was late or unpredictable. PhyAmerica conferred with representatives of NCFE and was repeatedly reassured that the problems were temporary and that NCFE expected the program to resume its normal funding in the near future.