Re: Aetna turned my request down

[Guest guest]

Elaine,

 

Perhaps you could ask them if they could apply some of their $497.6 million profit toward lowering premiums and raising doctor pay.

 

But as we've said over and over - the purpose of the corporation is not to make srue they are paying a fair wage - but to make profit for shareholders.

 

The only way I can see to make money on the big insurance companies is to actually own stock in them -- certainly getting paid as a doc doesn't have the same return on investment.

 

 

http://www.marketwatch.com/story/aetna-profit-up-on-margins-premiums-2010-11-03

 

Nov. 3, 2010, 4:36 p.m. EDT

Aetna profit up on margins, premiums

By Spain, MarketWatch

CHICAGO (MarketWatch) — Higher margins and premiums helped Aetna Inc. push its third-quarter profit up sharply even as overall membership declined, the health-insurance giant said Wednesday.

Aetna (NYSE:AET)  earned $497.6 million, or $1.19 a share, on the period — up from $326.2 million or 73 cents a share in the same quarter of 2009. On an adjusted basis, excluding favorable prior-period reserve development, the company would have earned 84 cents a share.

Revenue came in at $8.54 billion, down from $8.72 billion.

The average estimate of analysts polled by FactSet Research had been for the company to earn 68 cents a share on sales of $8.44 billion.

Aetna said that its profit growth in the quarter was largely due to higher commercial-underwriting margins, while revenue was off on the back of lower membership in 2010, partly offset by premium-rate increases.

The company’s after-tax profit margin jumped to 5.8% from 3.7%.

“Aetna’s third-quarter results reinforce our significant performance improvement in 2010 after an unusually weak 2009,” said Chief Executive in the earnings report. “Our strong operating results were driven by a reduction in utilization of health-care services after the surge we saw in 2009, combined with appropriate pricing and effective medical quality and cost management.”

Looking ahead, Aetna announced it now expects full-year 2010 earnings of $3.60 a share on an operating basis versus a current Wall Street expectation of $3.21.

Shares of Aetna closed with a gain of about 3%.

“We believe [the company’s] scale and increasing diversification will help it manage through health reform, and we think its cash flow is healthy, providing financial flexibility, " wrote Seligman of Standard & Poor’s in reiterating a buy rating on the shares.

Locke, MD

 

I sent letters out to all the PPo that I take to ask to be paid the medicare rate. Aetna called and said no way. We need to cut costs, employers wnat us to cut cost. I responded that their costs could be lower if we had better primary care and insurance co would support us. Without us, people get sick and have to go to ER or call their dermatologist??? She laughed. Anyway she says to write a letter comparing what they pay me for the codes i usually bill and the Medicare rate...any pointers from the group for my letter? I have not done HYH (got lost to follow up I think)

-- M.D.www.elainemd.comOffice: Go in the directions of your dreams and live the life you've imagined.This email transmission may contain protected and privileged, highly confidential medical, Personal and Health Information (PHI) and/or legal information. The information is intended only for the use of the individual or entity named above.

 If you are not the intended recipient of this material, you may not use, publish, discuss, disseminate or otherwise distribute it. If you are not the intended recipient, or if you have received this transmission in error, please notify the sender immediately and confidentially destroy the information that email in error.

[Guest guest]

I will write a letter in support of myself. if all fails, likely I will go cash only, retainer fee and charge the going medicare rate (my highest payer in CA). I will wait until recession is over. That would be very fair to my patients and to myself

 

Elaine,

 

Perhaps you could ask them if they could apply some of their $497.6 million profit toward lowering premiums and raising doctor pay.

 

But as we've said over and over - the purpose of the corporation is not to make srue they are paying a fair wage - but to make profit for shareholders.

 

The only way I can see to make money on the big insurance companies is to actually own stock in them -- certainly getting paid as a doc doesn't have the same return on investment.

 

 

http://www.marketwatch.com/story/aetna-profit-up-on-margins-premiums-2010-11-03

 

Nov. 3, 2010, 4:36 p.m. EDT

Aetna profit up on margins, premiums

By Spain, MarketWatch

CHICAGO (MarketWatch) — Higher margins and premiums helped Aetna Inc. push its third-quarter profit up sharply even as overall membership declined, the health-insurance giant said Wednesday.

Aetna (NYSE:AET)  earned $497.6 million, or $1.19 a share, on the period — up from $326.2 million or 73 cents a share in the same quarter of 2009. On an adjusted basis, excluding favorable prior-period reserve development, the company would have earned 84 cents a share.

Revenue came in at $8.54 billion, down from $8.72 billion.

The average estimate of analysts polled by FactSet Research had been for the company to earn 68 cents a share on sales of $8.44 billion.

Aetna said that its profit growth in the quarter was largely due to higher commercial-underwriting margins, while revenue was off on the back of lower membership in 2010, partly offset by premium-rate increases.

The company’s after-tax profit margin jumped to 5.8% from 3.7%.

“Aetna’s third-quarter results reinforce our significant performance improvement in 2010 after an unusually weak 2009,” said Chief Executive in the earnings report. “Our strong operating results were driven by a reduction in utilization of health-care services after the surge we saw in 2009, combined with appropriate pricing and effective medical quality and cost management.”

Looking ahead, Aetna announced it now expects full-year 2010 earnings of $3.60 a share on an operating basis versus a current Wall Street expectation of $3.21.

Shares of Aetna closed with a gain of about 3%.

“We believe [the company’s] scale and increasing diversification will help it manage through health reform, and we think its cash flow is healthy, providing financial flexibility, " wrote Seligman of Standard & Poor’s in reiterating a buy rating on the shares.

Locke, MD

 

I sent letters out to all the PPo that I take to ask to be paid the medicare rate. Aetna called and said no way. We need to cut costs, employers wnat us to cut cost. I responded that their costs could be lower if we had better primary care and insurance co would support us. Without us, people get sick and have to go to ER or call their dermatologist??? She laughed. Anyway she says to write a letter comparing what they pay me for the codes i usually bill and the Medicare rate...any pointers from the group for my letter? I have not done HYH (got lost to follow up I think)

-- M.D.www.elainemd.comOffice: Go in the directions of your dreams and live the life you've imagined.This email transmission may contain protected and privileged, highly confidential medical, Personal and Health Information (PHI) and/or legal information. The information is intended only for the use of the individual or entity named above.

 If you are not the intended recipient of this material, you may not use, publish, discuss, disseminate or otherwise distribute it. If you are not the intended recipient, or if you have received this transmission in error, please notify the sender immediately and confidentially destroy the information that email in error.

-- M.D.www.elainemd.comOffice: Go in the directions of your dreams and live the life you've imagined.

This email transmission may contain protected and privileged, highly confidential medical, Personal and Health Information (PHI) and/or legal information. The information is intended only for the use of the individual or entity named above.

 If you are not the intended recipient of this material, you may not use, publish, discuss, disseminate or otherwise distribute it. If you are not the intended recipient, or if you have received this transmission in error, please notify the sender immediately and confidentially destroy the information that email in error.

[Guest guest]

I don't have much to offer. I sent a letter, got no response. I called

repeatedly, got no substantive response. I dropped them. I still have a few

patients with Aetna who stuck with me despite this, and I'm still giving them

the Aetna discount to thank them for their loyalty.

Haresch

>

> I sent letters out to all the PPo that I take to ask to be paid the medicare

> rate. Aetna called and said no way. We need to cut costs, employers wnat us

> to cut cost. I responded that their costs could be lower if we had better

> primary care and insurance co would support us. Without us, people get sick

> and have to go to ER or call their dermatologist??? She laughed. Anyway she

> says to write a letter comparing what they pay me for the codes i usually

> bill and the Medicare rate...any pointers from the group for my letter? I

> have not done HYH (got lost to follow up I think)

>

> --

> M.D.

> www.elainemd.com

> Office:

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highlighting

> Go in the directions of your dreams and live the life you've imagined.

> This email transmission may contain protected and privileged, highly

> confidential medical, Personal and Health Information (PHI) and/or legal

> information. The information is intended only for the use of the individual

> or entity named above.

>

>

>

> If you are not the intended recipient of this material, you may not use,

> publish, discuss, disseminate or otherwise distribute it. If you are not the

> intended recipient, or if you have received this transmission in error,

> please notify the sender immediately and confidentially destroy the

> information that email in error.

>