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Aetna

BUSINESS
October 4, 2000 | By Andrea Knox, INQUIRER STAFF WRITER
Six area hospitals said yesterday that they would not renew their contract with Aetna U.S. Healthcare unless they could win more favorable terms than Aetna has offered in contract negotiations. The move yesterday by six members of the Catholic Health Initiatives system was the latest indication that hospitals are getting bolder about pushing back at insurers they feel are not paying them enough for their services. The hospitals are St. Mary Medical Center, Langhorne; Nazareth Hospital, Philadelphia; St. Agnes Medical Center, Philadelphia; St. Francis Hospital, Wilmington; St. Francis Medical Center, Trenton; and St. Joseph Medical Center, Reading.
BUSINESS
June 8, 2000 | By Karl Stark, INQUIRER STAFF WRITER
Leonard Abramson, the onetime pharmacist who created U.S. Healthcare and sold it to Aetna Inc. for $900 million, announced his resignation from the insurer's board of directors. Analysts said his departure, announced late Tuesday, was part of a housecleaning by Aetna's new chief executive, William H. Donaldson, and followed the exits of several executives whom Abramson had hand-picked before selling the company in 1996. "What we're seeing is the new CEO wanting to make a clean break from all the U.S. Healthcare people and their culture," a managing director at PaineWebber Inc. in New York, William McKeever, said.
BUSINESS
September 7, 2000 | By Susan Warner, INQUIRER STAFF WRITER
John W. Rowe, a doctor for 30 years, is setting out to cure financially troubled Aetna U.S. Healthcare, the nation's largest health insurer. Rowe, the chief executive officer of Mount Sinai NYU Health in New York City, will take over as chief executive officer of Aetna U.S. Healthcare on Sept. 15. After the sale of its financial and international operations to ING Group of the Netherlands for $7.7 billion, Aetna U.S. Healthcare will be spun off to shareholders and assume the Aetna Inc. name.
BUSINESS
October 25, 1999 | By Karl Stark, INQUIRER STAFF WRITER
The area's two dominant health insurers, Aetna U.S. Healthcare and Independence Blue Cross, said they would raise rates an average of at least 9 percent next year, because of increasing drug and medical costs. The two firms, which together control more than 90 percent of the HMO market in Southeastern Pennsylvania, are following the lead of health-care insurers nationwide that are raising rates an estimated 9 percent to 14 percent next year, industry executives and analysts said.
BUSINESS
November 15, 2000 | By Andrea Knox, INQUIRER STAFF WRITER
Seven health insurers, including Aetna Inc. and Cigna Corp., are creating an Internet-based claims-processing system that they promise will reduce doctors' aggravation in dealing with them. The insurers announced yesterday that they had formed a company called MedUnite Inc., whose online software will provide doctors' offices with a one-stop clearinghouse to handle claims, referrals and other matters for the seven participants. The aim is to reduce what Eve Dryer, a MedUnite spokeswoman, called "the hassle factor" that plagues doctors who must deal with many insurers - each with its own forms, eligibility requirements, and preferred modes of operation.
BUSINESS
August 3, 1997 | By Andrea Gerlin, INQUIRER STAFF WRITER
Profits on prescription drugs have gotten so slim that pharmacists have begun rejecting reimbursements from certain health plans. Some area pharmacies dropped Aetna U.S. Healthcare after the managed-care behemoth last month cut reimbursements by 6 percent. RXD Pharmacies and Super G grocery stores were among those that stopped accepting the insurer's cards at their pharmacy counters because, they said, they were losing money. "When we sat down and figured it out, it wasn't worth it," said Craig Lehrman of Banks Apothecary in Philadelphia, one of 13 pharmacies owned by RXD, of Collingswood.
BUSINESS
April 17, 2012 | By Har­old Bru­bak­er, IN­QUIR­ER STAFF WRIT­ER
In­de­pend­ence Blue Cross, the largest health in­sur­er in the Philadelphia re­gion, said Tues­day that its 2011 net in­come soared 49 percent, to $314.8 mil­lion. The com­pa­ny's prof­it mar­gin of 3.4 per­cent was its biggest in at least 10 years. "I'm proud of the pro­gress we've made," said IBC's president and chief ex­ec­u­tive of­fi­cer, Dan­iel J. Hilferty. The in­sur­er has rebounded from two years of losses, in 2008 and 2009. Glen Philips, an IBC customer, said it bothered him to hear of IBC's strong profits, given the heavy cost of buying insurance for 40-plus employees at Philips Bros.
NEWS
April 6, 2001
An Associated Press article (March 22) states that "medical care has risen by a seasonally adjusted annual rate of 7 percent. " Where do they get such figures? In two years, my annual premiums for health care with Aetna went up 154 percent. The same article says gas prices declined 2.4 percent. I'll bet in my next bill from Philadelphia Gas Works the price is no lower. ROBERT SUTHERLAND Philadelphia
BUSINESS
January 29, 2012 | By Stacey Burling, Inquirer Staff Writer
Up to 10,000 Aetna subscribers are caught in the middle of a contract fight between the insurance company and a 19-member cardiology group that says it provides most of the heart care at Abington Memorial Hospital. Negotiation battles between hospitals or doctors and insurers that go down to the wire - and beyond it - have become more common in recent years as insurance companies have faced more pressure from subscribers and employers to curb costs. The contract between Aetna and Abington Medical Specialists (AMS)
NEWS
August 13, 2003 | By Brian Newbert
Being a quadriplegic insured by Aetna, I can understand why one of the nation's largest managed-care firms recently settled for $170 million a class-action lawsuit filed by physicians. My managed-care company stopped paying my specialty physician for his services more than one year ago. On May 18, 2000, I was a Cub Scout leader conducting a meeting in my backyard. After climbing a tree to retrieve a swing, I lost my footing and fell 20 feet, landing on my chin. I sustained a cervical spinal cord injury.
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