Aetna Enhances Its Aexcel Specialist Network
Network option based on clinical performance, cost-efficiency available in additional markets with more medical specialties
HARTFORD, Conn., June 29, 2004 — Aetna (NYSE: AET) announced today that its innovative specialist network option, AexcelSM, will be available in a total of 9 geographic locations with 12 medical specialties by January 2005. Aexcel is a network option that encourages members to select specialists who have demonstrated effectiveness in clinical performance and cost efficiency. It can be offered by employers on a stand-alone basis or alongside Aetna’s traditional networks.
"Aexcel is one more way Aetna is meeting the challenge of rising medical costs with innovative initiatives and products. We worked hard to develop an approach that helps employers and their employees address costs while maintaining access to quality health care," said Andrew Allocco, Aetna’s senior vice president for Network and Provider Services.
Working with employers, Aetna identified Atlanta, Houston, Metropolitan DC (including Maryland, Washington, DC and Northern Virginia), Los Angeles, Connecticut, and Metropolitan New York/Northern New Jersey as markets with sizeable networks and significant interest by employers in supporting this initiative.
Aexcel also is expanding beyond its initial six medical specialties – cardiology, cardiothoracic surgery, gastroenterology, general surgery, obstetrics/gynecology, and orthopedics – to include specialists in otolaryngology, neurology, neurosurgery, plastic surgery, vascular surgery and urology. All 12 medical specialties will be part of the Aexcel network option in the existing markets of Seattle/Western Washington, Dallas/Ft. Worth and North Florida and in the new markets.
"Aexcel has been very well-received in the three launch markets, and we continue to refine this network option with a focus on best meeting the needs of key constituents, including employers, members and physicians," said Allocco. "To date, 10 customers have implemented Aexcel for more than 64,000 members."
Consumers often have little access to independent, objective information when they choose specialists. Aetna developed a rigorous evaluation process with Aexcel to identify specialists who have shown they deliver cost-effective care with fewer complications and repeat procedures. Plan sponsors and members will benefit from the expected lower costs in medical care as well as from the value of having information to make better health care decisions.
"Costco prides itself as a company that is cutting-edge in its ability to strike a balance between offering employees competitive benefits packages that are affordable and provide access to quality care," said Jay Tihinen, assistant vice president of Benefits and Retirement Plans, Costco Wholesale. "In addition, our employees have indicated that they are looking for information to help them differentiate health care providers. Aexcel helps us achieve these goals. We began offering Aexcel to our Seattle-based employees in January, and we are looking forward to introducing Aexcel to more of our employees in other parts of the country."
Aexcel is one of a series of industry-leading initiatives from Aetna designed to address rising medical costs, maintain access to quality care, and help consumers make more informed health care decisions.
Aexcel, introduced last year, joins other industry-leading offerings such as the Aetna HealthFund® family of consumer-directed products, which includes Health Reimbursement Accounts (HRAs), Health Savings Accounts (HSAs), Retiree Reimbursement Accounts (RRAs) and other funding and account options to meet the unique needs of employers of all sizes.
All are complemented by Web-based decision support tools to help members get more from their health care dollars. This includes health care pricing and quality tools, online claims and fund tracking, credible health information and health risk assessments.
As one of the nation’s leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 13.3 million medical members, 11.2 million dental members, 8.1 million pharmacy members and 12.4 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost effective health care through a nationwide network of more than 618,000 health care professionals, including over 370,000 primary care and specialist doctors and 3,783 hospitals. For more information, please visit www.aetna.com. (Figures as of March 31, 2004)
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