Molina Healthcare, which was at the center of Idaho's 2010 Medicaid debacle that resulted in hundreds of Idaho caregivers not being properly reimbursed for their services, announced today that it was named to the 2012 Fortune 500 list, the prestigious list of the nation's largest companies, ranked by total revenue.
Idaho's Molina mess began when the state Health and Welfare Department contracted with the health care provider to process Idaho's Medicaid billing systems. Idaho ended up docking Molina's compensation millions of dollars for its errors.
Molina Healthcare, a publicly traded company on the New York Stock Exchange, reported $4.6 billion in annual revenue in 2011.
This morning, Molina Healthcare traded at $26.34 per share on the NASDAQ exchange, nearly double its value from October 2011.