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Article: Aetna turnaround seen as a tough task for CEO.(Dr. John Rowe)(Statistical Data Included)
- Article from:
- Business Insurance
- Article date:
- April 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A full year after being christened amid much fanfare, the ``new Aetna'' is still struggling to reinvent itself.
Once an insurance industry pillar, Aetna Inc. is now awash in red ink and has forfeited its title as the nation's largest health insurer, as it continues to unload millions of members in a massive turnaround effort. And its relationship with providers remains as strained as ever.
``Aetna is a big ship that's proving difficult to turn,'' said Dr. Richard Corlin, president of the American Medical Assn.
Determined to slim down its bloated corporate structure and rein in costs, Aetna intentionally has been kissing off large chunks of its ...