First Financial Management

First Financial Management Corporation (FFMC) was a prominent financial services and data processing company that became a major player in the healthcare industry through its acquisition of HealthCare Compare Corp, later renamed First Health Group Corp. During the 1990s, FFMC's healthcare division operated one of the largest national preferred provider organization (PPO) networks, offering managed care services to large employers and insurers. The company specialized in the integration of financial transaction processing with healthcare administrative services, including claims adjudication and utilization review. FFMC was acquired by First Data Corporation in 1995 for approximately $6.6 billion, a landmark deal that consolidated its payment processing and healthcare service portfolios. Following the merger, the healthcare operations were eventually divested and now form part of the historical lineage of major national insurers.