Coventry's Q1 Profit, Work Comp Revenue Slips

Coventry Health Care reported first-quarter net earnings of $135 million, down from $170 million a year ago.Coventry said 14.8% of total revenue in the quarter was related to selling, general and administrative expenses, including $11.1 million associated with its pending merger with Aetna. Operating revenue was $3.5 billion during the quarter.Revenue from workers’ compensation totaled $175 million during the first quarter, compared to nearly $192 million the same period a year ago.Membership in the company’s Medicare Advantage Coordinated Care Plan increased 24% to 309,000 members...