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NEWS
September 6, 2013
TOM SPANN, 54, of Plymouth Meeting, is CEO of Accolade, a Plymouth Meeting company whose professional health assistants help employees at large companies make informed decisions about health care. Spann, a former partner at management-consulting firm Accenture, co-founded Accolade in 2007. It has since grown to $32 million in annual revenues and almost 500 employees, including nurses, pharmacists and doctors. Q: What's the genesis of Accolade? A: I had some experience working with health-care startups at Accenture.
NEWS
October 18, 1993 | by Banning Lyon, From the New York Times
I was one of hundreds of teenagers put in U.S. psychiatric hospitals in the mid-'80s for such "unusual" behavior as arguing with parents or having trouble in school. Most of us were diagnosed, by non-physicians, as suffering from serious depression. A doctor would later come in to confirm the diagnosis and bill our parents' insurance companies. We were held in institutions against our will until our insurance policies ran out. At that moment, we were somehow miraculously cured and discharged.
BUSINESS
August 3, 2002 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Rising medical costs plus losses from investments meant lower second-quarter profits for Cigna Corp. Its shares fell 4 percent yesterday to close at $83.95 after the Philadelphia employee-benefits giant reported second-quarter earnings of $214 million, down from an adjusted $264 million a year earlier. Cigna blamed higher losses from its bond and real estate portfolios, including investments in bankrupt WorldCom Inc. and other troubled companies. Also, chief financial officer James Stewart told investors that the company's insurance price increases had not kept pace with annual medical cost inflation of about 14 percent.
NEWS
February 19, 1993
For two years, Philadelphia has endured the charred hulk of One Meridian Plaza, towering at its center just yards from City Hall. If One Liberty Place is testimony to the booming '80s in Philadelphia, One Meridian Plaza symbolizes the '90s bust. It's a constant downer for a city trying to become upbeat again. Desert Storm's ground war was launched the day of the fire - Feb. 23, 1991. The campaign would conclude 100 hours later. Kuwait City - and even Baghdad - would be rebuilt.
BUSINESS
June 22, 2003 | By Karl Stark INQUIRER STAFF WRITER
Like many businesses, the American Federation of State, County and Municipal Employees District Council 33 has seen its medical costs surge, rising by 28 percent last year alone. The union, which represents nearly 11,000 city workers and retirees, had an unusual response. It decided to spend more money. In January it hired a Blue Bell start-up named Health Advocate to help patients navigate the bewildering complexities of health insurance and medical care. Health Advocate operates on the notion that employees will work better if they can find the right doctor quickly and aren't spending time disputing hospital bills.
BUSINESS
August 14, 2001 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Also in this column: Stock market execution Digging for Reliance cash SunGard Data Systems Inc. is proving to be an extra-combative shopper in the corporate liquidation sales that have followed the popped Internet bubble. At stake for the acquisitive, Wayne-based financial-software company are big pieces of once high-flying info-tech companies that are now worth more dead than alive. After SunGard refused to match Reuters Group's $175 million bid for most of bankrupt Bridge Information Systems in May, SunGard turned around and hired three key Bridge employees, Bridge and Reuters complained in a federal lawsuit last month.
BUSINESS
December 11, 1998 | Daily News staff, Bloomberg News and wire reports
consumers SmithKline to pay $2.5M to end probe SmithKline Beecham will pay $2.5 million to end an investigation by 12 states, including Pennsylvania, into whether the company misled customers with ads suggesting the company's chewing gum and patch make it easy to quit smoking. The U.K.-based pharmaceutical company, with U.S. headquarters in Philadelphia, will pay $1.6 million for a public health campaign on the hazards of smoking and what smokers can expect to experience when trying to quit.
BUSINESS
February 18, 2013 | By Harold Brubaker, Inquirer Staff Writer
  When patients insured by Independence Blue Cross are discharged from the hospital, discharge reports are added to medical records at their primary doctors' offices less than 50 percent of the time. It's a common example of the gaps in information-sharing among hospitals, doctors, and others in the health-care system. "A physician caring for a patient is sometimes not aware of all of the care that's been provided, not aware of all the medications the patient is taking, or aware of the lab tests that have been done, or of the results of those tests," said Richard Snyder, chief medical officer at Independence Blue Cross.
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.
BUSINESS
January 22, 2002 | By Linda Loyd INQUIRER STAFF WRITER
Joseph T. Sebastianelli has done it all. He has been a lawyer, a health insurance executive, a hospital administrator and an Internet expert. Now, Sebastianelli, who spent 26 of the last 30 years in health care and insurance in the Philadelphia area, is returning to become the new president and chief executive officer of the Jefferson Health System, the Philadelphia region's largest hospital network. The Jefferson Health System board is scheduled to announce today that Sebastianelli, 55, will succeed Douglas S. Peters, who said in October he would step down as head of the Jefferson system July 1, after 5 1/2 years on the job. Sebastianelli is chairman and chief executive officer of RealMed Corp.
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