What a jokester you are- you really think I don't know what MLR means???? FYI, we call it MCR at Aetna because we don't like the word "loss"- loss has connotations with things like death and we are in the health business- get it. Oh yeah, we are also in the Life, Disability and dental business- all of which are doing quite well thank you very much.
I really don't want to flame you because that is not my style. You work for a good company.
I work for a company that has made a lot of mistakes in the past 5 years but we are definetly getting our shit together. Our mistakes could have bankrupted a lesser company but Aetna will make it to its 150th anniversary.
To interested Aetna observers- please be patient- we have a medical doctor at the helm of Aetna (what an interesting concept for a for profit insurer) and an exec by the name of Williams who is getting Aetna back to basics- proper underwriting risk evaluation, collecting premium on time or getting rid of the deadbeats, establishing better relations with physiciansd and hospitals, etc.
Gone are the days of signing every darn company/member up just so marketing could make a ton of cash. Also gone are the mindless managers who only "managed" to piss off every broker/consultant in certin markets- they are being replaced by professionals who know the business.
I don't want to make predictions on the stock price because I do work for Aetna. However, I think by the end of this year and certainly into 2003, you will see a turnaround.
For your sake I hope your optimistic outlook is correct. You have to hope that Rowe, Williams, and company are in this thing for the right reasons...to turn Aetna around...as opposed to doing what many people do prior to trying to get married, ie. getting dressed up (as in repackaging the old Aetna, adopting Wellpoint management structure, adding ex- Wellpoint Management)and losing weight ( Medicare membership, unprofitable markets and poor performing membership) to look more attractive to a potential suitor.... Let's face it - Aetna has been an easy target for uncreative, undynamic , and unemotionally driven CEO's and other leadership that join Aetna, leave the company in worse condition than they found it, and manage to make a ton of cash on their departure, on the backs of stockholders and Aetna employees. Mr. Bone, I am not trying to bash your company, but you have to ask yourself how realistic it is for Rowe and company to turn Aetna around when it may be just as easy to sell Aetna, and ensure a guaranteed huge payday for himself. Or is Rowe different from most of the other recent Aetna CEO's ? For your sake you better hope so because Aetna's postion in the market today is clearly due to the poor leadership at the helm and the Aetna "job for life" mentality that has permeated the company forever. Add in the fact that Aetna executives are notorious for protecting mutual friends regardless of results and you have a recipe for disaster !!