Oxford Health Plans reports loss

Oxford Health Plans has ended second quarter 1998 with a $508 million loss, as the Norwalk, CT-based HMO known for its innovative tactics and billing problems continues its turnaround efforts.

The loss included a one-time restructuring charge of $174 million and another $112 million charge for the turnaround plan the company has in progress. The plan addresses billing delays the company says were caused by computer problems.

Oxford's total membership rose 9% over the same period last year, although it declined slightly from its first-quarter level because the company withdrew from Connecticut's Medicaid program.

Since fall 1997, the company has brought in a new senior management team and has raised $710 million in capital from private investors.