Keep pulling the thread on Mark Bertolini.
When Mark Bertolini joined Aetna in 2001, the company was losing one million dollars per day.
The strategic rationale for the CVS acquisition of Aetna was to create a local healthcare presence in retail stores to engage with patients about their health goals, a concept developed with IDEO and George Blankenship.
Mark Bertolini believes the U.S. should eliminate employer-sponsored health insurance and transition to a system where individuals purchase their own plans on a marketplace like the one created by the Affordable Care Act.
Last year, two out of five Americans borrowed a collective $74.9 billion from banks to cover their out-of-pocket healthcare costs.
Oscar Health believes its total addressable market could reach 125 million people by targeting small and mid-market employers, gig workers, and large employers transitioning to defined-contribution health plans.
Approximately 60% of a person's lifetime healthcare costs are incurred during end-of-life care.
After Aetna changed its policy to allow hospice patients to continue seeking curative treatments, the utilization of hospice benefits among eligible members increased from 18% to 75%, and end-of-life costs for this group fell by 75%.
After a 12-week mindfulness and yoga program for Aetna employees, participants' cortisol levels and heart rate variability dropped by 50%, and the company's total healthcare costs decreased by 7.5% the following year.
Aetna raised its minimum wage to $16 an hour and implemented a program that eliminated out-of-pocket healthcare costs for employees below 300% of the federal poverty level, a program which cost $75 million in its first year.
During Mark Bertolini's tenure as CEO, Aetna's stock price rose from $9 per share to $208 per share.
Over an eight-year period, Aetna achieved a 652% total shareholder return, with two-thirds of the gain attributed to an expansion of its price-to-earnings multiple rather than direct earnings growth.
The state of Indiana has enacted regulatory changes to permit the use of Individual Coverage Health Reimbursement Arrangements (ICHRAs).