She steps down from a pressure cooker that’s for sure and just recently the board had publicly given her support in a couple of media articles. We are going to see a lot of this occur as the powers of the CEOs become less and less as the decision making processes get more difficult, it is what it is and it is not limited to health insurance. They just recently bought Amerigroup if you missed those headlines.
WellPoint to Buy Amerigroup for $4.9 Billion As the Battle for Medicare and Medicaid Management Contracts/Exchanges Continues Between Two Major Health Insurers–Subsidiary Watch
I really can’t blame anyone today for stepping down as it’s hard and with Wellpoint especially they are on a full on frontline technology attack from United Healthcare. You don’t see it and hear a little in the news but it comes right back to those algorithms for profit. Here’s a couple examples below on the contract wars of the carriers.
Blue Cross and United Healthcare Duking It Out In Nebraska Over State Health Insurance Contract–We Have More Subsidiaries My Cost Algorithms Are Better Than Yours?
Blue Cross Protesting Award of Texas Employee Retirement Health Plan to United Healthcare–Price Cut by $25 Million With Little or No Out of Network Coverage for Members Take the Tri-Care contract here and this was a tough battle that Wellpoint subsidiaries lost as that’s where most of the real profit action is taking place today in subsidiaries and you may not even know they are owned by an insurance company as their number has increased so much in the last few years. The link below kind of goes into some of the lingo with the contracts as one Blue Cross subsidiary is set to go out of business and United who probably needs the current IT services gives the other subsidiary a contract and who knows if they will buy them at some time. United has an advantage that other insurance companies don’t have and that is having the former HHS executive who crafted the healthcare reform bill on their staff as a VP and we could probably safely say the GOP has even recognized that fact yet.
United HealthCare Awards Contract to One Blue Cross/Blue Shield Subsidiary to Process Tri-Care Claims While The Other BlueCross BlueShield Company Lost the Over All Tri-Care Bid To United In the West
Again we will see a lot more CEOs step down as they can’t deal with the algorithms and in some cases nobody else can either and make any sense of “shifting money” today, i.e. Jamie Dimon. You know what, back 3 three years ago I said “Do We Need A Department of Algorithms”…nobody got it or laughed…anyone laughing now:) From August 25, 2009….
If you are then check out the links for the Attacks of the Killer Algorithms…scary and I’m up to Chapter 41 now. These tactics and comprehension of the algorithms are also way over the head of HHS director Sebelius, just the way the world evolved and you can add on Shapiro at the SEC while we are at it, news folks needed their too with a little computer science in their backgrounds so we don’t sink. BD
Attack of the Killer Algorithms–Digest & Links for 35 Chapters–on How Math and Crafty Formulas Today Running on Servers 24/7 Make Life Impacting Decisions About You–Updated 6-24-2012
INDIANAPOLIS--(BUSINESS WIRE)--WellPoint, Inc. (NYSE: WLP) announced that it is actively searching for a candidate to succeed Angela F. Braly as the President and Chief Executive Officer of WellPoint, who has stepped down from those positions today. The Board of Directors has established a search committee to consider both internal and external candidates, with the assistance of a search firm.
In the interim, John Cannon, the Company’s Executive Vice President, General Counsel, Corporate Secretary and Chief Public Affairs Officer, will serve as interim President and CEO. WellPoint also announced that Jackie M. Ward, WellPoint’s Lead Director, has been named the Non-Executive Chair of the Board of Directors effective immediately.