================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q

                   [X] QUARTERLY REPORT PURSUANT TO SECTION 13
                     OR 15(d) OF THE SECURITIES EXCHANGE ACT
                                     OF 1934

                  For the quarterly period ended March 31, 2003

                                       OR

             [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                        For the transition period from to

                           Commission File No. 0-20260

                            INTEGRAMED AMERICA, INC.
             (Exact name of Registrant as specified in its charter)


                  Delaware                               06-1150326
      (State or other jurisdiction of       (I.R.S. employer identification no.)
       incorporation or organization)

          Two Manhattanville Road
             Purchase, New York                            10577
  (Address of principal executive offices)              (Zip code)

                           (914) 253-8000 (Registrant's
                     telephone number, including area code)

         Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.


                                 Yes [X]   No [ ]

         Indicate by check mark whether the registrant is an  accelerated  filer
(as defined in Exchange Act Rule 12 b-2).


                                 Yes [  ]  No [X]

         The aggregate number of shares of the Registrant's  Common Stock,  $.01
par value, outstanding on May 1, 2003 was 3,372,508.

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<PAGE>


                            INTEGRAMED AMERICA, INC.
                                    FORM 10-Q

                                TABLE OF CONTENTS


                                                                           PAGE

PART I  -      FINANCIAL INFORMATION

    Item 1.    Financial Statements

                  Consolidated Balance Sheets at March 31, 2003 (unaudited) and
                     December 31, 2002........................................ 3

                  Consolidated Statements of Income for the three-month periods
                     ended March 31, 2003 and 2002 (unaudited)................ 4

                  Consolidated Statements of Cash Flows for the three-month
                     periods ended March 31, 2003 and 2002 (unaudited)........ 5

                  Notes to Consolidated Financial Statements (unaudited).... 6-8

    Item 2.    Management's Discussion and Analysis of Financial Condition and
                 Results of Operations..................................... 9-13

    Item 3.    Quantitative and Qualitative Disclosures About Market Risk.....14

    Item 4.    Controls and Procedures........................................14


PART II -      OTHER INFORMATION

    Item 1.    Legal Proceedings..............................................15

    Item 2.    Changes in Securities..........................................15

    Item 3.    Defaults upon Senior Securities................................15

    Item 4.    Submission of Matters to a Vote of Security Holders............15

    Item 5.    Other Information..............................................15

    Item 6.    Exhibits and Reports on Form 8-K...............................15

SIGNATURES     ...............................................................16

CERTIFICATIONs PURSUANT TO 18 U.S.C. ss.1350, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002..............................17-18


                                       2
<PAGE>


PART I -- FINANCIAL INFORMATION

    Item 1.      Consolidated Financial Statements
<TABLE>

                            INTEGRAMED AMERICA, INC.
                           CONSOLIDATED BALANCE SHEETS
              (all dollars in thousands, except per share amounts)
<CAPTION>

                                     ASSETS
                                                                                  March 31,   December 31,
                                                                                  --------    -----------
                                                                                    2003         2002
                                                                                  --------    -----------
                                                                                 (unaudited)
<S>                                                                               <C>          <C>
Current assets:
  Cash and cash equivalents ...................................................   $  6,792     $  8,693
  Due from Medical Practices, net .............................................      7,108        5,297
  Pharmaceutical sales accounts receivable ....................................      2,016        1,637
 Prepaids and other current assets ............................................      2,767        2,888
                                                                                  --------     --------
      Total current assets ....................................................     18,683       18,515
  Fixed assets, net ...........................................................      5,284        5,141
  Exclusive Service Rights, Net ...............................................     19,224       19,529
  Deferred taxes ..............................................................      3,903        3,980
  Other assets ................................................................        293          279
                                                                                  --------     --------
      Total assets ............................................................   $ 47,387     $ 47,444
                                                                                  ========     ========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable ............................................................   $    530     $    823
  Accrued liabilities .........................................................      5,415        6,446
  Current portion of long-term notes payable and other obligations ............      1,061        1,099
  Patient deposits ............................................................      8,590        7,208
                                                                                  --------     --------
      Total current liabilities ...............................................     15,596       15,576
                                                                                  --------     --------
Long-term notes payable and other obligations .................................         61          311
                                                                                  --------     --------
Commitments and contingencies
Stockholders' Equity:
  Common Stock, $.01 par value - 50,000,000 shares authorized in 2003 and 2002;
    and 3,429,775 and 3,353,884 shares issued in 2003 and 2002, respectively ..         34           34
  Capital in excess of par ....................................................     47,216       47,183
  Accumulated deficit .........................................................    (15,520)     (15,660)
                                                                                  --------     --------
      Total stockholders' equity ..............................................     31,730       31,557
                                                                                  --------     --------
      Total liabilities and stockholders' equity ..............................   $ 47,387     $ 47,444
                                                                                  ========     ========

</TABLE>



        See accompanying notes to the consolidated financial statements.



                                       3
<PAGE>


                            INTEGRAMED AMERICA, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
              (all amounts in thousands, except per share amounts)


                                                                 For the
                                                            three-month period
                                                              ended March 31,
                                                            -------------------
                                                             2003         2002
                                                            ------      -------
                                                               (unaudited)
Revenues, net
   FertilityPartners Service Fees .......................  $ 18,374    $ 15,600
   Pharmaceutical sales .................................     4,862       4,220
   Other revenues .......................................       474         231
                                                           --------    --------
      Total revenues ....................................    23,710      20,051
                                                           --------    --------
Cost of services and sales:
   FertilityPartners Service Fees .......................    16,365      13,592
   Pharmaceutical costs .................................     4,742       4,058
   Other costs ..........................................       290         121
                                                           --------    --------
      Total costs of services and sales .................    21,397      17,771
                                                           --------    --------
Contribution:
   FertilityPartners Service Fees .......................     2,009       2,008
   Pharmaceutical contribution ..........................       120         162
   Other contribution ...................................       184         110
                                                           --------    --------
     Total contribution .................................     2,313       2,280
                                                           --------    --------
General and administrative expenses .....................     2,085       1,803
Interest income .........................................       (22)        (38)
Interest expense ........................................        19          38
                                                           --------    --------
   Total other expenses .................................     2,082       1,803
                                                           --------    --------
Income before income taxes ..............................       231         477
Income tax provision ....................................        91         186
                                                           --------    --------

Net income ..............................................  $    140    $    291
Less: Dividends paid and/or accrued on Preferred Stock...      --           (33)
                                                           --------    --------
Net income applicable to Common Stock ...................  $    140    $    258
                                                           ========    ========

Basic and diluted earnings per share of Common Stock:...   $   0.04    $   0.08
                                                           ========    ========
Weighted average shares - basic .........................     3,357       3,061
                                                           ========    ========
Weighted average shares - diluted .......................     3,571       3,245
                                                           ========    ========



        See accompanying notes to the consolidated financial statements.


                                       4
<PAGE>

<TABLE>


                            INTEGRAMED AMERICA, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (all amounts in thousands)

<CAPTION>
                                                                       For the
                                                                 three-month period
                                                                  ended March 31,
                                                                 -------------------
                                                                    2003      2002
                                                                 ---------  --------
                                                                      (unaudited)
<S>                                                                <C>        <C>
Cash flows from operating activities:
   Net income ..................................................   $   140    $   291
   Adjustments to reconcile net income to net cash used/provided
    by operating activities:
     Depreciation and amortization .............................       792        635
   Change in assets and liabilities--
     Decrease (increase) in assets:
        Due from Medical Practices .............................    (1,811)       427
        Pharmaceutical sales accounts receivable ...............      (379)    (1,353)
        Prepaids and other current assets ......................       121        218
        Other assets ...........................................        63        163
     Increase (decrease) in liabilities:
         Accounts payable ......................................      (293)       502
         Accrued liabilities ...................................    (1,031)      (117)
         Patient deposits ......................................     1,382      1,287
                                                                   -------    -------
Net cash used/provided by operating activities .................    (1,018)     2,053
                                                                   -------    -------

Cash flows used in investing activities:
     Payment for exclusive Business Service rights .............        --       (350)
     Purchase of fixed assets and leasehold improvements .......      (629)      (538)
                                                                   -------    -------
Net cash used in investing activities ..........................      (629)      (888)
                                                                   -------    -------

Cash flows used in financing activities:
     Principal repayments on debt ..............................      (250)      (324)
     Principal repayments under capital lease obligations ......       (38)       (35)
     Proceeds from exercise of Common Stock Warrants and options        34         --
     Dividends paid on Convertible Preferred Stock .............        --        (33)
                                                                   -------    -------
Net cash used in financing activities ..........................      (254)      (392)
                                                                   -------    -------

Net change in cash .............................................   $(1,901)   $   773
Cash at beginning of period ....................................     8,693      8,505
                                                                   -------    -------
Cash at end of period ..........................................   $ 6,792    $ 9,278
                                                                   =======    =======
</TABLE>






        See accompanying notes to the consolidated financial statements.



                                       5
<PAGE>


                            INTEGRAMED AMERICA, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (unaudited)


NOTE 1 -- INTERIM RESULTS:

     The accompanying unaudited consolidated financial statements have been
prepared in accordance with the instructions to Form 10-Q and,  accordingly,  do
not include all of the information and footnotes  required by generally accepted
accounting  principles  for  complete  financial  statements.  In the opinion of
management,  the accompanying unaudited interim financial statements contain all
adjustments  (consisting only of normal recurring accruals) necessary to present
fairly the financial  position at March 31, 2003,  and the results of operations
and cash flows for the  interim  periods  presented.  Operating  results for the
interim  period are not  necessarily  indicative of results that may be expected
for the year ending December 31, 2003. These financial statements should be read
in  conjunction  with the financial  statements  and notes  thereto  included in
IntegraMed  America's  (the  "Company")  Annual Report on Form 10-K for the year
ended December 31, 2002.

NOTE 2 -- EARNINGS PER SHARE:

     The  reconciliation  of the  numerators and  denominators  of the basic and
diluted EPS  computations  for the three-month  periods ended March 31, 2003 and
2002 is as follows (000's omitted, except for per share amounts):

                                                                For the
                                                          three-month period
                                                            ended March 31,
                                                        ----------------------
                                                          2003           2002
                                                        -------        -------
Numerator
Net Income............................................    $ 140          $ 291
Less: Preferred stock dividends.......................       --             33
                                                          -----          -----
Income applicable to Common Stock.....................    $ 140          $ 258
                                                          =====          =====

Denominator
Weighted average shares outstanding...................    3,357          3,061
Effect of dilutive options and warrants...............      214            184
                                                          -----          -----
Weighted average shares and dilutive potential
Common shares.........................................    3,571          3,245
                                                          =====          =====
Basic and diluted EPS.................................    $0.04          $0.08
                                                          =====          =====

     For the three-month  period ended March 31, 2003, the effect of the assumed
exercise of options to purchase  approximately 166,000 shares of Common Stock at
exercise prices ranging from $5.65 to $6.15 per share were excluded in computing
the  diluted per share  amount  because  the  exercise  price of the options was
greater than the average  market price of the shares of Common Stock,  therefore
causing these options to be antidilutive. For the three-month period ended March
31,  2002,   the  effect  of  the  assumed   exercise  of  options  to  purchase
approximately  235,000  shares of Common Stock at exercises  prices ranging from
$5.38 to $5.98 per share were excluded in computing the diluted per share amount
because the exercise  prices of the options were greater than the average market
price of the  shares  of Common  Stock,  thereby  causing  these  options  to be
antidilutive.


                                       6
<PAGE>


                            INTEGRAMED AMERICA, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                                   (unaudited)

     For the three-month  period ended March 31, 2003, the effect of the assumed
exercise of warrants to purchase approximately 106,000 shares of Common Stock at
exercise prices ranging from $6.25 to $9.00 per share were excluded in computing
the diluted per share amount  because the exercise  prices of the warrants  were
greater  than the average  market price of the shares of Common  Stock,  thereby
causing these  warrants to be  antidilutive.  For the  three-month  period ended
March 31,  2002,  the effect of the  assumed  exercise  of  warrants to purchase
approximately  25,000  shares of Common  Stock at exercise  prices  ranging from
$5.13 to $7.24 per share were excluded in computing the diluted per share amount
because the exercise prices of the warrants were greater than the average market
price of the  shares of Common  Stock,  thereby  causing  these  warrants  to be
antidilutive.

NOTE 3 -- SEGMENT INFORMATION:

     The Company is  principally  engaged in providing  products and services to
the fertility market. For disclosure  purposes,  the Company recognizes Business
Services  offered to its network of Fertility  Partners  and its  pharmaceutical
distribution  operations as separate reporting  segments.  The Business Services
segment includes  revenues and costs  categorized as Fertility  Partners Service
Fees and Other Revenues, as follows (000's omitted):
<TABLE>

<CAPTION>
                                                                      Business       Pharmaceutical
                                                         Corporate    Services        Distribution     Consolidated
                                                         ---------    --------        ------------     ------------

<S>                                                      <C>           <C>               <C>               <C>
For the three months ended March 31, 2003
     Revenues......................................      $    --       $18,848           $4,862            $23,710
     Cost of services..............................           --        16,655            4,742             21,397
                                                         -------       -------           ------            -------
     Contribution..................................           --         2,193              120              2,313
                                                                                                           -------
     General and administrative costs..............                                                          2,085
     Interest, net.................................                                                             (3)
                                                                                                           -------
     Income (loss) before income taxes.............                                                            231
                                                                                                           =======
     Depreciation expense included above...........                                                            487
     Capital expenditures..........................          162           467               --                629
     Total Assets..................................       10,453        34,401            2,533             47,387

For the three months ended March 31, 2002
     Revenues......................................     $     --       $15,831           $4,220            $20,051
     Cost of services..............................           --        13,713            4,058             17,771
                                                         -------       -------           ------            -------
     Contribution..................................           --         2,118              162              2,280
                                                         -------       -------           ------            -------
     General and administrative costs..............                                                          1,803
     Interest, net.................................                                                             --
                                                                                                           -------
     Income before income taxes....................                                                            477
                                                                                                           =======
     Depreciation expense included above...........           68          342                --                410
     Capital expenditures..........................           95          443                --                538
     Total assets..................................        5,557       37,859             2,776             46,192

</TABLE>

                                       7
<PAGE>


NOTE 4 -- STOCK-BASED EMPLOYEE COMPENSATION:


     At March 31, 2003, the Company has two  stock-based  employee  compensation
plans,  which are  described  more fully in Note 13 of the  Company's  financial
statements in its most recent Annual Report on Form 10-K.  The Company  accounts
for these plans under the recognition and measurement  principles of APB Opinion
No. 25, Accounting for Stock Issued to Employees,  and related  Interpretations.
No stock-based  employee  compensation  cost is reflected in net income,  as all
options  granted under the plans had an exercise price equal to the market value
of the  underlying  Common  Stock  on the date of  grant.  The  following  table
illustrates  the effect on net income and  earnings  per share as if the Company
had applied the fair value  recognition  provisions  of FASB  Statement No. 123,
Accounting for Stock-Based  Compensation,  to stock-based employee compensation.
(000's omitted, except per share amounts).

                                                            Three Months Ended
                                                                 March 31,
                                                            ------------------
                                                             2003        2002
                                                            ------      ------

   Net Income, as reported................................  $ 140        $ 258

   Deduct:  Total stock-based employee compensation
   expense determined under fair value based method
   for all awards, net of related tax effects.............    (76)         (76)
                                                            -----        -----

   Pro forma net income...................................  $  64        $ 182
                                                            =====        =====

   Earnings per share:
        Basic-as reported.................................  $0.04        $0.08
                                                            =====        =====
        Basic-pro forma...................................  $0.02        $0.06
                                                            =====        =====

        Diluted-as reported...............................  $0.04        $0.08
                                                            =====        =====
        Diluted-pro forma.................................  $0.02        $0.06
                                                            =====        =====

NOTE 5 -- RECLASSIFICATIONS

     Certain  amounts in the prior year  financial  statements and related notes
have been reclassified to conform to the current period presentation.

NOTE 6 -- RECENT ACCOUNTING STANDARDS

     On January 17, 2003, the Financial  Accounting Standards Board (FASB or the
"Board")  issued FASB  Interpretation  No. 46 (FIN 46 or the  "Interpretation"),
Consolidation of Variable  Interest  Entities,  an Interpretation of ARB No. 51.
The  primary  objective  of the  Interpretation  is to provide  guidance  on the
identification  of, and financial  reporting for, entities over which control is
achieved  through  means other than voting  rights;  such  entities are known as
variable-interest  entities  (VIEs).  FIN 46 is  effective  for VIE's  which are
created  after  January 31, 2003 and for all VIE's for the first  fiscal year or
interim period  beginning  after June 15, 2003. The Company does not believe the
adoption of FIN 46 will have an impact on its financial statements.



                                       8
<PAGE>



Item 2.  Management's Discussion and Analysis of Financial Condition and Results
          of Operations

     The following  discussion and analysis  should be read in conjunction  with
the  consolidated  financial  statements  and  notes  thereto  included  in this
quarterly  report and with the Company's Annual Report on Form 10-K for the year
ended December 31, 2002.

     The Company offers products and services to patients, providers, and payers
in the fertility  industry.  The IntegraMed Network is comprised of twenty-three
fertility  centers in major markets across the United States,  a  pharmaceutical
subsidiary, a financing subsidiary, the Council of Physicians and Scientists and
a leading  fertility portal  (www.integramed.com).  Seventeen  fertility centers
have  access to the  Company's  FertilityDirect  program.  Six of the  fertility
centers are designated as  "FertilityPartners"  and as such,  have access to the
Company's  FertilityDirect  program in  addition to being  provided  with a full
range of services,  including: (i) administrative services, including accounting
and finance, human resource functions, and purchasing of supplies and equipment;
(ii) access to capital and servicing and financing patient accounts  receivable;
(iii)  marketing  and  sales;  (iv)  integrated  information  systems;  and  (v)
assistance in identifying best clinical practices.

     The Company's strategy is to align information,  technology and finance for
the benefit of fertility patients,  providers,  and payers. The primary elements
of the Company's strategy include: (i) expanding the IntegraMed Provider Network
into new major markets; (ii) increasing the number and value of service packages
purchased  by  fertility  centers  that are members of the  IntegraMed  Provider
Network; (iii) entering into additional  FertilityPartners(TM)  contracts;  (iv)
increasing revenues at  FertilityPartners  centers; (v) increasing the number of
Shared Risk Refund treatment  packages sold to patients of contracted  fertility
centers and managing the risk  associated  with the Shared Risk Refund  Program;
(vi)  increasing  sales of  pharmaceutical  products  and  services;  and  (vii)
developing Internet-based access to personalized health information.

     The strategy is complemented by our approach of focused diversification. We
have  segmented the fertility  market into  providers  and  consumers.  We offer
services to the provider  segment  focused on improving  clinical and  financial
results. We also offer products and services to consumers that improve access to
treatment.  All of the product  and  service  offerings  are  synergistic,  each
customer segment complementing the other.

     The strategy  requires  the Company to: (a) stay  focused on the  fertility
industry; (b) provide exceptional customer service; (c) deliver premium services
to obtain premium  prices;  (d) develop and maintain  standardized  products and
services  along with a scalable  infrastructure;  and (e) take  advantage of the
potential of consumer pull-through with direct-to-consumer investment.

     During 2001, the Company  negotiated  revised fee structures on all five of
its then existing major  FertilityPartners  business services contracts. On four
of  these  contracts  in  which  service  fees  are  comprised  of (a) a  tiered
percentage of revenue,  (b) a fixed percentage of medical practice  earnings and
(c)  reimbursed  cost of  services,  the  Company  negotiated  lower  additional
percentages on the revenue and medical practice earnings components. These lower
fees are to be phased in over an estimated  five-year  period.  On the remaining
FertilityPartners  contract,  the Company  negotiated higher service fees, which
are assessed at a fixed amount each month independent of the medical  practice's
underlying revenue or earnings.

     On April 26,  2002,  the Company  signed an  agreement to supply a complete
range of business,  marketing and facility  services to the Northwest Center for
Infertility  and  Reproductive   Endocrinology  ("NCIRE")  located  in  Margate,
Florida.  Under the terms of the 15-year  agreement,  the Company's service fees
are  comprised of  (a)reimbursed  costs of services,  (b)a tiered  percentage of
revenues,  and (c)an additional fixed percentage of NCIRE earnings.  The Company
has  committed  up to $2 million to fund the  development  of and to equip a new
state-of-the-art   facility  to  house  the  clinical  practice  and  embryology
laboratory for NCIRE and its patients.

     On  November  25,   2002,   the  Company   announced   the  ending  of  its
FertilityPartners  agreement with  Reproductive  Science  Associates of New York
("RSA of New York").  The  agreement is to end on November 15, 2003.  RSA of New
York serves the Long Island market and revenues for the four  quarterly  periods


                                       9
<PAGE>

ending  prior  to  the  announcement  were  $9.1  million.  The  program  had  a
contribution of $750,000 for the same period.  At the time of the  announcement,
the Company evaluated its exclusive business rights asset associated with RSA of
New York and reduced that asset to its  realizable  value by adjusting the asset
downward by $350,000.

     The  Company  seeks to increase  the number of  patients in the  IntegraMed
Network  that  participate  in the Shared Risk Refund  Program.  The Shared Risk
Refund Program was established at Shady Grove Fertility Partners ("Shady Grove")
- the leading  fertility  center in the metropolitan  Washington,  DC area and a
member of the  IntegraMed  Provider  Network.  Based on the  experience at Shady
Grove, the Company  developed an actuarial model that allows pricing a treatment
package to consumers.  The Shared Risk Refund Program consists of a package that
includes up to three cycles of in vitro fertilization for one fixed price with a
significant refund if the patient does not deliver a baby. Under this innovative
financial  program,  the Company  receives  payment  directly from consumers who
qualify  for the  program  and  pays  contracted  fertility  centers  a  defined
reimbursement for each treatment cycle performed.  The Company manages the risks
associated  with the  Shared  Risk  Refund  Program  through  a case  management
program.  This case  management  program  authorizes  patient  care and provides
information  to be  used in  recognizing  revenue  and  developing  the  related
reserves for refunds. Actual results to date have not varied materially from the
estimates used in the actuarial model.

Results of Operations

     The following table shows the percentage of revenues represented by various
expense and other income items reflected in the Company's Consolidated Statement
of Operations.  Ratios for revenues,  cost of services incurred and contribution
for a  particular  segment are  percentages  of the related  revenues  from that
segment only. All other ratios are percentages of total revenues.

                                                                 For the
                                                           three-month period
                                                             ended March 31,
                                                           ------------------
                                                             2003       2002
                                                           -------     ------
                                                               (unaudited)
         Revenues, net

              FertilityPartners Service Fees..............  77.5%      77.8%
              Pharmaceutical Sales........................  20.5%      21.0%
              Other Revenues..............................   2.0%       1.2%
                                                           ------     ------
              Total Revenues.............................. 100.0%     100.0%

         Costs of services incurred:

              FertilityPartners costs.....................  69.0%      67.8%
              Pharmaceutical costs........................  20.0%      20.2%
              Other costs.................................   1.2%       0.6%
                                                            -----      -----
              Total Costs of services and sales...........  90.2%      88.6%

         Contribution

              FertilityPartners contribution..............   8.5%      10.0%
              Pharmaceutical contribution.................   0.5%       0.8%
              Other contribution..........................   0.8%       0.6%
                                                           ------      ------
              Total contribution..........................   9.8%      11.4%

         General and administrative expenses..............   8.8%       9.0%
         Interest income..................................  (0.1)%     (0.2)%
         Interest expense.................................   0.1%       0.2%
                                                           ------     ------
              Total other expenses........................   8.8%       9.0%
                                                           ------     ------
         Income before income taxes.......................   1.0%       2.4%
         Provision for income taxes.......................   0.4%       1.0%
                                                           ------     ------
         Net income.......................................   0.6%       1.4%
                                                           ======     ======


                                       10
<PAGE>


 Three Months Ended March 31, 2003 Compared to Three Months Ended March 31, 2002

     Revenues for the three months ended March 31, 2003 increased 18.2% from the
same period in 2002. The major factors contributing to this growth were:

(i)      FertilityPartners  service fees increased  approximately  17.8% between
         the first quarter of 2002 and 2003.  This additional  revenue  resulted
         from an  increase in new patient  visits at all of the  Company's  core
         FertilityPartners  locations,  and was driven by  additional  marketing
         programs and initiatives undertaken by the Company;

(ii)     Pharmaceutical  sales increased 15.2% as a result of increased  patient
         volume within the  IntegraMed  Provider  Network,  as well as increased
         penetration and participation  among medical providers  associated with
         the Network; and

(iii)    Other revenues, comprised primarily of the Company's Shared Risk Refund
         Program and Network member  Affiliate Fees,  increased from $231,000 to
         $474,000.  This increase was the result of the Company's  commitment to
         focus its marketing efforts on increasing new patient volume within the
         Network and Shared Risk Refund Program.

     As a percentage  of revenues,  contribution  declined from 11.4% in 2002 to
9.8% in 2003. The following factors led to the decrease:

(i)      The first quarter results were affected negatively by events outside of
         our Company and industry. Although revenue growth was fairly strong, in
         several  areas of our  business it did not meet our  expectations.  The
         FertilityPartners  segment had a 9.3% same-center revenue growth, below
         our forecast of 15% growth.  While new patient  visits  remain  strong,
         anticipation and fear concerning  world events,  coupled with lingering
         effect of a slow  economy  acted to somewhat  dampen  demand for higher
         priced  infertility  procedures.  As we reported  earlier,  in 2001, we
         revised our fee agreements with our  FertilityPartners  and anticipated
         rising  volume  would  compensate  for  the  reduced  fee  percentages.
         However,  the slowdown in the rate of volume  growth,  coupled with the
         pricing  changes,  resulted  in lower  than  expected  margins  in this
         segment;

(ii)     The Company's  pharmaceutical  margin  experienced a decline to 2.5% in
         the first quarter of 2003 from a margin of 3.8% in the first quarter of
         2002.  Pharmaceutical  sales are  directly  related  to the  numbers of
         patients seeking infertility treatment.  This decline was the result of
         unfavorable  manufacturers'  price increases and reduced by a change in
         mix related to the dampened  demand for  pharmaceutical  used in higher
         priced infertility procedures; and

(iii)    The Company's  Other  Contribution,  comprised  primarily of its Shared
         Risk Refund Program and Network members  Affiliate Fees,  increased due
         to favorable  pregnancy rates within the Shared Risk Refund Program, as
         well as growing Affiliate Fees associated with the Company's  expanding
         network.

     General and  administrative  expenses  increased  from $1.8  million in the
first  quarter of 2002 to $2.1 million in the first  quarter of 2003 as a result
of additional  marketing and support costs incurred to promote  Network  growth.
The Company  anticipates  maintaining  general and administrative  costs at this
level as it continues to invest in the development of its expanding Network.

     Interest  income  and  expense,  net was  substantially  unchanged  for the
three-month  period  ended March 31, 2003 as compared to 2002.  Interest  income
declined due to a decline in the Company's cash balance, as a result of the:

(i)      Purchase  of  exclusive   business   service   rights  of  the  Florida
         FertilityPartner  located in Margate during the second quarter of 2002;
         and

(ii)     Repurchase of 165,644  shares of preferred  stock during the second and
         third quarters of 2002.

                                       11
<PAGE>

     Declining  interest  income was offset by a decline  in  interest  expense.
Interest  expense  declined  in line  with the  Company's  lower  debt  balances
resulting from scheduled debt repayments on the Company's outstanding debt.

Liquidity and Capital Resources

     Historically, the Company has financed its operations by the sale of equity
securities,  issuance of notes and internally generated resources.  In addition,
the  Company  also  uses  bank  financing  for  working   capital  and  business
development. The Company's working capital increased during the first quarter of
2003 to $3.1  million,  up from $2.9 million as of December  31,  2002.  Working
capital and,  specifically,  cash and cash equivalents remain at adequate levels
to fund the Company's operations. As of March 31, 2003, the Company did not have
any significant commitments for the acquisition of fixed assets, however, it has
budgeted  upcoming capital  expenditures of  approximately  $8.7 million for the
balance of 2003. These  expenditures  are primarily  related to the expansion of
the  Company's  FertilityPartners  centers.  The Company  believes that the cash
flows from its operations  plus its existing  credit facility will be sufficient
to provide for its future liquidity needs for the next year.

     In September  2001, the Company  amended its existing  credit facility with
Fleet Bank, N.A. The amended facility is comprised of a $7.0 million  three-year
working  capital  revolver,  and a continuance  of the  Company's  existing $4.0
million  5.5 year  term  loan,  of which  approximately  $2.8  million  remained
outstanding with a remaining term of  approximately  2.5 years as of the date of
the amendment. Availability of borrowings under the working capital revolver are
based on eligible  accounts  receivable,  as defined therein.  In addition,  the
credit agreement contains restricted covenants.  As of March 31, 2003, under the
working capital revolver,  there were no amounts outstanding and the full amount
of $7.0 million was available.  The credit facility is  collateralized by all of
the  Company's  assets.  The Company is also  continuously  reviewing its credit
agreement and may renew,  revise or enter into new agreements  from time to time
as deemed necessary.

     On July 30,  2002,  the Company  completed a private  placement  of 220,000
shares of its Common  Stock at $6.25 per share and  warrants to purchase  88,000
shares of Common  Stock at an exercise  price of $9.00 per share,  resulting  in
gross proceeds of $1,375,000. The warrants become exercisable commencing January
31, 2003 and expire January 30, 2006.

Significant Contractual Obligations and Other Commercial Commitments:

     The following  summarizes the Company's  contractual  obligations and other
commercial  commitments at March 31, 2003, and the effect such  obligations  are
expected to have on its liquidity and cash flows in future periods.
<TABLE>

                                                               Payments Due by Period
<CAPTION>

                                        Total      Less than 1 year     1 - 3 years    4 - 5 years     After 5 years
                                     ----------    ----------------     -----------   ------------     -------------

<S>                                <C>                  <C>             <C>            <C>             <C>
Notes Payable.................     $  1,122,000         $1,061,000      $   61,000     $       --      $        --
Capital lease obligations.....               --                 --              --             --               --
Operating leases..............       33,644,000          3,542,000       8,027,000      7,784,000       14,291,000
                                     ----------          ---------       ---------      ---------       ----------
Total contractual cash
    Obligations...............      $34,766,000         $4,603,000      $8,088,000     $7,784,000      $14,291,000
</TABLE>

<TABLE>

                                                      Amount of Commitment Expiration Per Period
<CAPTION>

                                        Total      Less than 1 year     1 - 3 years    4 - 5 years     After 5 years
                                     ----------   ----------------     -------------  -------------    -------------

<S>                                <C>                  <C>            <C>            <C>             <C>
Lines of credit...............     $  7,000,000         $      --      $7,000,000     $       --      $        --
Total commercial
    commitments...............     $  7,000,000         $      --      $7,000,000     $       --      $        --

</TABLE>


                                       12
<PAGE>


     The Company also has commitments to provide accounts  receivable  financing
under  its  FertilityPartners   agreements.  The  Company's  financing  of  this
receivable  occurs on the 15th of each month. The medical  practice's  repayment
priority consists of the following:

(i)      Reimbursement  of  expenses  that the  Company  has  incurred  on their
         behalf;

(ii)     Payment of the fixed or, if  applicable,  the  variable  portion of the
         service fee which relates to the FertilityPartners revenues; and

(iii)    Payment of the variable portion of the service fee.

     The Company is  responsible  for the collection of  receivables,  which are
financed with full  recourse.  The Company has  continuously  funded these needs
from  cash  flow  from  operations  and  the  collection  of the  prior  month's
receivables.  If delays in repayment  are  incurred,  which have not as yet been
encountered,  the Company  could draw on its  existing  working  capital line of
credit. The Company makes payments on behalf of the  FertilityPartners for which
it is  reimbursed in the  short-term.  Other than these  payments,  as a general
course,  the Company does not make other advances to the medical  practice.  The
Company has no other funding commitments to the FertilityPartners.

Recent Accounting Standards

FASB Interpretation No. 46, Consolidation of Variable Interest Entities

     On January 17, 2003, the Financial  Accounting Standards Board (FASB or the
"Board")  issued FASB  Interpretation  No. 46 (FIN 46 or the  "Interpretation"),
Consolidation of Variable  Interest  Entities,  an Interpretation of ARB No. 51.
The  primary  objective  of the  Interpretation  is to provide  guidance  on the
identification  of, and financial  reporting for, entities over which control is
achieved  through  means other than voting  rights;  such  entities are known as
variable-interest  entities  (VIEs).  FIN 46 is  effective  for VIE's  which are
created  after  January 31, 2003 and for all VIE's for the first  fiscal year or
interim period  beginning  after June 15, 2003. The Company does not believe the
adoption of FIN 46 will have an impact on its financial statements.

Forward Looking Statements

     This Form 10-Q and discussions and/or announcements made by or on behalf of
the Company, contain certain forward-looking  statements regarding events and/or
anticipated  results  within the meaning of the "safe harbor"  provisions of the
Private  Securities  Litigation  Reform  Act of 1995,  the  attainment  of which
involves  various risks and  uncertainties.  Forward-looking  statements  may be
identified by the use of  forward-looking  terminology  such as, "may",  "will",
"expect",  "believe",  "estimate",  "anticipate",  "continue", or similar terms,
variations of those terms or the negative of those terms.  The Company's  actual
results may differ  materially  from those  described  in these  forward-looking
statements  due to the  following  factors:  the  Company's  ability  to acquire
additional   FertilityPartners   agreements,  the  Company's  ability  to  raise
additional  debt and/or equity  capital to finance  future  growth,  the loss of
significant FertilityPartners agreement(s), the profitability or lack thereof at
fertility  centers  serviced  by  the  Company,  increases  in  overhead  due to
expansion,  the exclusion of fertility and ART services from insurance coverage,
government laws and regulation  regarding  health care,  changes in managed care
contracting,  the timely development of and acceptance of new fertility, and ART
and/or genetic  technologies and techniques.  The Company is under no obligation
to  (and  expressly  disclaims  any  such  obligation)  update  or  alter  their
forward-looking statements whether as a result of new information, future events
or otherwise.


                                       13
<PAGE>



Item 3.  Quantitative and Qualitative Disclosures About Market Risk

     Not applicable.


Item 4. Controls and Procedures


      (a) Evaluation of disclosure controls and procedures.


     Under  the  supervision  and  with  the  participation  of our  management,
including our Chief Executive Officer and Chief Financial Officer,  we evaluated
the  effectiveness  of the design and operation of our  disclosure  controls and
procedures (as defined in Rule  13a-14(c) and 15d-14(c)  under the Exchange Act)
as of a date (the "Evaluation  Date") within 90 days prior to the filing date of
this report.  Based upon that evaluation,  the Chief Executive Officer and Chief
Financial  Officer  concluded  that, as of the  Evaluation  Date, our disclosure
controls and procedures  were effective in timely  alerting them to the material
information relating to us required to be included in our periodic SEC filings.


      (b) Changes in internal controls.


     There were no significant  changes made in our internal controls during the
period covered by this report or, to our knowledge,  in other factors that could
significantly affect these controls subsequent to the date of their evaluation.



                                       14
<PAGE>



Part II -         OTHER INFORMATION

     Item 1.      Legal Proceedings.

                     None.

     Item 2.      Changes in Securities and Use of Proceeds.

                     On March 11, 2003, the Company issued 65,235 shares of its
                     Common Stock to be held as treasury shares. These shares
                     represented shares certain officers paid to the Company for
                     the withholding of taxes on a stock grant issued in 2002.
                     The Company anticipates selling these shares as market
                     conditions warrant.

     Item 3.      Defaults Upon Senior Securities.
                     None.

     Item 4.      Submission of Matters to Vote of Security Holders.
                     None.

     Item 5.      Other Information.
                     None.

     Item 6.      Exhibits and Reports on Form 8-K.

                     (a) For the quarter ended March 31, 2003,  Registrant filed
                         a Form 8-K dated February 21, 2003; March 18, 2003; and
                         March  25,  2003  reporting   Item  9,   Regulation  FD
                         Disclosure.

                     See Index to Exhibits on Page 19.



                                       15
<PAGE>


                                   SIGNATURES



         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                  INTEGRAMED AMERICA, INC.
                                  (Registrant)




Date:    May 15, 2003             by:  /s/ John W. Hlywak, Jr
                                           ------------------
                                           John W. Hlywak, Jr.
                                           Senior Vice President and
                                           Chief Financial Officer
                                           (Principal Financial and
                                           Accounting Officer)

                                       16
<PAGE>




                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss.1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002


I, Gerardo Canet, certify that:

1.       I have reviewed this quarterly report on Form 10-Q of IntegraMed
         America, Inc.;

2.       Based on my knowledge, this quarterly report does not contain any
         untrue statement of a material fact or omit to state a material fact
         necessary to make the statements made, in light of the circumstances
         under which such statements were made, not misleading with respect to
         the period covered by this quarterly report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this quarterly report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this quarterly report;

4.       The registrant's other certifying officers and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         we have:

a.       designed such disclosure controls and procedures to ensure that
         material information relating to the registrant, including its
         consolidated subsidiaries, is made known to us by others within those
         entities, particularly during the period in which this quarterly report
         is being prepared;
b.       evaluated the effectiveness of the registrant's disclosure controls and
         procedures as of a date within 90 days prior to the filing date of this
         quarterly report (the "Evaluation Date"); and
c.       presented in this quarterly report our conclusions about the
         effectiveness of the disclosure controls and procedures based on our
         evaluation as of the Evaluation Date;

5.       The registrant's other certifying officers and I have disclosed, based
         on our most recent evaluation, to the registrant's auditors and the
         audit committee of registrant's board of directors (or persons
         performing the equivalent function):

a.       all significant deficiencies in the design or operation of internal
         controls which could adversely affect the registrant's ability to
         record, process, summarize and report financial data and have
         identified for the registrant's auditors any material weaknesses in
         internal controls; and
b.       any fraud, whether or not material, that involves management or other
         employees who have a significant role in the registrant's internal
         controls; and

6.       The registrant's other certifying officers and I have indicated in this
         quarterly report whether or not there were significant changes in
         internal controls or in other factors that could significantly affect
         internal controls subsequent to the date of our most recent evaluation,
         including any corrective actions with regard to significant
         deficiencies and material weaknesses.


May 15, 2003                       By: Gerardo Canet
                                       ---------------------------------
                                       Gerardo Canet
                                       President and Chief Executive Officer



                                       17
<PAGE>



                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss.1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002


I, John W. Hlywak, Jr., certify that:

1.       I have reviewed this quarterly report on Form 10-Q of IntegraMed
         America, Inc.;

2.       Based on my knowledge, this quarterly report does not contain any
         untrue statement of a material fact or omit to state a material fact
         necessary to make the statements made, in light of the circumstances
         under which such statements were made, not misleading with respect to
         the period covered by this quarterly report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this quarterly report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this quarterly report;

4.       The registrant's other certifying officers and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         we have:

a.       designed such disclosure controls and procedures to ensure that
         material information relating to the registrant, including its
         consolidated subsidiaries, is made known to us by others within those
         entities, particularly during the period in which this quarterly report
         is being prepared;
b.       evaluated the effectiveness of the registrant's disclosure controls and
         procedures as of a date within 90 days prior to the filing date of this
         quarterly report (the "Evaluation Date"); and
c.       presented in this quarterly report our conclusions about the
         effectiveness of the disclosure controls and procedures based on our
         evaluation as of the Evaluation Date;

5.       The registrant's other certifying officers and I have disclosed, based
         on our most recent evaluation, to the registrant's auditors and the
         audit committee of registrant's board of directors (or persons
         performing the equivalent function):

d.       all significant deficiencies in the design or operation of internal
         controls which could adversely affect the registrant's ability to
         record, process, summarize and report financial data and have
         identified for the registrant's auditors any material weaknesses in
         internal controls; and
e.       any fraud, whether or not material, that involves management or other
         employees who have a significant role in the registrant's internal
         controls; and

6.       The registrant's other certifying officers and I have indicated in this
         quarterly report whether or not there were significant changes in
         internal controls or in other factors that could significantly affect
         internal controls subsequent to the date of our most recent evaluation,
         including any corrective actions with regard to significant
         deficiencies and material weaknesses.


May 15, 2003                                By: John W. Hlywak, Jr
                                                -------------------------------
                                                John W. Hlywak, Jr.
                                                Senior Vice President and
                                                Chief Financial Officer


                                       18
<PAGE>

Exhibit
Number                                      Exhibit
------                                      -------

99.27      --     Registrant's Press Release dated February 19, 2003.  (1)

99.28      --     Registrant's Press Release dated March 17, 2003.  (2)

99.29      --     Registrant's Press Release dated March 24, 2003.  (3)

99.30      --     CEO  Certification  Pursuant  to 18  U.S.C.ss.1350  as Adopted
                  Pursuant to  Sections  302 of the  Sarbanes  Oxley Act of 2002
                  dated March 26, 2003. (4)

99.31      --     CFO  Certification  Pursuant  to 18  U.S.C.ss.1350  as Adopted
                  Pursuant to  Sections  302 of the  Sarbanes  Oxley Act of 2002
                  dated March 26, 2003. (4)

99.32      --     CEO  Certification  Pursuant  to 18  U.S.C.ss.1350  as Adopted
                  Pursuant to  Sections  906 of the  Sarbanes  Oxley Act of 2002
                  dated March 26, 2003. (4)

99.33      --     CFO  Certification  Pursuant  to 18  U.S.C.ss.1350  as Adopted
                  Pursuant to  Sections  906 of the  Sarbanes  Oxley Act of 2002
                  dated March 26, 2003. (4)

99.34      --     Registrant's Press Release dated April 23, 2003.  (5)

99.35      --     Registrant's Press Release dated May 5, 2003.  (6)

99.36      --     CEO  Certification  Pursuant  to 18  U.S.C.ss.1350  as Adopted
                  Pursuant to  Sections  906 of the  Sarbanes  Oxley Act of 2002
                  dated May 15, 2003.

99.37      --     CFO  Certification  Pursuant  to 18  U.S.C.ss.1350  as Adopted
                  Pursuant to  Sections  906 of the  Sarbanes  Oxley Act of 2002
                  dated May 15, 2003.

---------------------------------------------

(1)      Filed as exhibit with identical  exhibit number to Registrant's  Report
         on Form 8-K February 21, 2003 and incorporated by reference thereto.

(2)      Filed as exhibit with identical  exhibit number to Registrant's  Report
         on Form 8-K March 18, 2003 and incorporated by reference thereto.

(3)      Filed as exhibit with identical  exhibit number to Registrant's  Report
         on Form 8-K March 25, 2003 and incorporated by reference thereto.

(4)      Filed as exhibit with identical  exhibit number to Registrant's  Annual
         Report  on Form  10-K  for the year  ended  2002  and  incorporated  by
         reference thereto.

(5)      Filed as exhibit with identical  exhibit number to Registrant's  Report
         on Form 8-K April 28, 2003 and incorporated by reference thereto.

(6)      Filed as exhibit with identical  exhibit number to Registrant's  Report
         on Form 8-K May 6, 2003 and incorporated by reference thereto.



                                       19