EXHIBIT 99


                          SIERRA HEALTH SERVICES, INC.(R)
                       ALL THE BENEFITS OF GOOD HEALTH.SM

                                  PRESS RELEASE


SIERRA CONTACTS:                                 PCA CONTACTS:
James L. Starr, Vice President and CFO           David K. Barker
         (702) 242-7112                          Director of Investor Relations
Ria Marie Carlson, Vice President,                     (305) 265-2921
         Public & Investor Relations                   http://www.pcam.com
         (702) 242-7156



                  SIERRA HEALTH SERVICES ANNOUNCES MERGER WITH
                        PHYSICIAN CORPORATION OF AMERICA

 LAS  VEGAS,  November  4, 1996 -- Sierra  Health  Services,  Inc.  (NYSE:  SIE)
announced  today it has signed a definitive  agreement  to merge with  Physician
Corporation  of America  (NASDAQ:  PCAM),  a managed  health care  company  with
operations in Florida, Texas and Puerto Rico. The merger is expected to close by
March 31, 1997, pending normal shareholder and regulatory approvals.

         The  combined  company  will  generate  more than $2  billion in annual
revenues  and serve  nearly 1.5  million  people in 18 states  and Puerto  Rico,
becoming the nation's eighth largest publicly traded managed care company.

         Under the terms of the  agreement,  which  will be  accounted  for as a
tax-free  pooling of  interests,  each  Physician  Corporation  of America (PCA)
shareholder  will receive 0.45 shares of Sierra Health Services,  Inc.  (Sierra)
stock for every PCA share held. The combined company will be named Sierra Health
Services, Inc., with national headquarters in Las Vegas.

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Sierra Health Services, Inc. - Page 2

         "This merger represents an excellent  strategic  opportunity for Sierra
to gain a strong multi-state  presence," said Anthony M. Marlon,  M.D., Chairman
and Chief  Executive  Officer.  "We will be able to  substantially  broaden  our
existing  service area in Texas, and become one of the market leaders in Florida
and Puerto Rico."

         Marlon  said that PCA,  which has over  468,000  commercial  & Medicare
members, is also "a leading Medicaid provider in each of its respective markets,
which really complements our experience with Medicare and CHAMPUS."

         Stanley Kardatzke,  M.D.,  Chairman and Chief Executive Officer of PCA,
added,  "Sierra is an excellent  merger  partner for PCA.  They are  financially
solid and  operationally  provide a wealth of experience.  In addition,  the two
companies have similar cultures,  with expertise in government  programs and the
direct delivery of care through medical groups."

         Dr.  Kardatzke  will  become  Chairman  of the  Board  of the  combined
organization,  while Dr.  Marlon  will be Vice  Chairman  of the Board and Chief
Executive  Officer.  Erin MacDonald who currently  serves as President and Chief
Operating  Officer of Sierra will remain in those  positions.  The eight  member
board of  directors of the  combined  company  will consist of Sierra's  current
five-member board, plus three members appointed by PCA.

                  "While  there is minimal  geographic  overlap  between the two
companies,"  Dr.  Marlon  said,  "we  expect to realize  operating  efficiencies
through the consolidation of corporate and administrative functions. We are also
excited about the opportunities  presented by creatively  combining our workers'
compensation functions."
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Sierra Health Services, Inc. - Page 3

         PCA, founded in 1985 and headquartered in Miami, provides comprehensive
health care  services  through  health  maintenance  organizations,  third party
administrators,  and workers'  compensation and insurance  companies.  Its HMOs'
serve nearly 950,000 members in Florida, Texas and Puerto Rico and is the 
largest provider of managed care services to Florida's Medicaid recipients.

         Sierra,  established in 1984, is a diversified health care company that
provides  and  administers  the delivery of  comprehensive  managed care benefit
programs for individuals and employers.  The company serves 504,000  individuals
through  subsidiaries that operate health maintenance  organizations,  preferred
provider  organizations,  managed indemnity and workers' compensation  insurers,
third party  administration  for  self-insured  employers and a  multi-specialty
medical group.

         Safe Harbor Statement under the Private  Securities  Litigation  Reform
Act of 1995:  The  statements  contained in this release that are not historical
facts are  forward  looking.  Actual  results may differ  materially  from those
projected in such forward looking statements;  such statements involve risks and
uncertainties,  including  but not limited to the  following;  completion of the
merger which is subject to regulatory  and  shareholder  approval;  Medicare and
Medicaid  premium  rates set by state and  federal  government  agencies  change
unexpectedly;  increased  competition  in the  Company's  markets  or  change in
product mix may  unexpectedly  reduce  premium  yield;  health care costs in any
given period may be greater than  expected due to incidence of major  illnesses,
natural  disasters,  epidemics,  changes in physician  practice policies and new
technologies;
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Sierra Health Services, Inc. - Page 4

and,  the  Company  may be  unable to obtain  or  maintain  acceptable  provider
arrangements on satisfactory  terms in key markets.  Investors are also directed
to the  other  risks  discussed  in  documents  filed  by the  Company  with the
Securities and Exchange Commission.

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