Aetna 2002 Annual Report Download

Download and view the complete annual report

Please find the complete 2002 Aetna annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 46

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46

The Responsibility of Leaders
   

Table of contents

  • Page 1
    T he Responsibility of Leaders

  • Page 2
    ... Director of the Center for Health Outcomes and Policy Research University of Pennsylvania More Choices, Greater Control Clear and Simple Quality without Boundaries Securing a Healthy Future Reaching T hose at Risk Self-Directed Solutions Genetic Testing: Improving Health Quality A Gift of Life...

  • Page 3
    ... uncertainties of life, promising to be there when they need us most. In the two sections following the Chairman's Letter to Shareholders, we explore the mission of today's Aetna. The first section spotlights numerous ways we are innovating to help people achieve health and financial security. The...

  • Page 4
    Chairman and Chief Executive Officer

  • Page 5
    ... we set out our agenda for We said we would develop a detailed strategic plan consistent with our new strategic direction, improve pricing, manage medical costs more effectively, reduce administrative expenses, raise service levels, improve relations with key stakeholders and begin to create a peak...

  • Page 6
    ... constituencies. New online, real-time quoting systems were launched for brokers. Auto-adjudication rates were increased to speed up provider claims payments. Telephone and Web-based tools were enhanced to give members and doctors better access to claims and benefits information  hours a day...

  • Page 7
    ...a new fully insured version of Aetna HealthFund ; and added enhanced decision-support tools that allow members to compare hospital quality, drug prices and the cost of medical procedures. The next release will provide consumers with even more targeted and evidence-based information that enables them...

  • Page 8
    ...from Continuing Operations  Cash Operating Earnings from Continuing Operations Shareholders' Equity Actual Common Shares Outstanding 1 $ 2.94 3.50 46.54 $ (1.86) .... financial information should be read in conjunction with the financial statements and related notes as presented in Aetna Inc.'s...

  • Page 9
    ... Statement In the pages that follow, we share with you some of the ways we are fulfilling the first part of Aetna's mission - through our innovative products, comprehensive health and related benefits choices, effective service and easy-tounderstand information - putting customers at the center...

  • Page 10
    ..., informed choices. Aetna Navigator™ , our personalized health benefits Web portal, provides  decision-support tools such as Healthwise Knowledgebase® , Price-A-Drug and the Aetna Navigator  Hospital Comparison Tool. Aetna InteliHealth , Simple Steps To A Healthier Life hour...

  • Page 11
    ... largest speech-recognition  application supporting the health benefits industry to date. Aetna Voice Advantage , a natural-voicerecognition self-service system, allows members and participating physicians and hospitals to check claims status and eligibility, request ID cards and complete many...

  • Page 12
    ... Aetna has taken a leadership role in addressing health disparities through a Chairman's Initiative focused on helping members access quality health care independent of race or ethnicity. We are collecting voluntarily provided race and ethnicity information from many of our members and their doctors...

  • Page 13
    Securing a Healthy Future To provide affordable and innovative retiree health benefits solutions, Aetna is offering its customers a new and expanded portfolio of products in to help seniors secure a healthy future. The new Aetna Golden Choiceâ„¢ Plan covers Medicare beneficiaries in select areas ...

  • Page 14
    Reaching T hose at Risk Aetna's Healthy Outlook Program® reaches out to members living with chronic conditions such as diabetes, asthma, congestive heart failure, coronary artery disease, end-stage renal disease or low back pain. Utilizing technological, clinical and educational resources, these ...

  • Page 15
    ... members' online health benefits portal. It's easy to track claims; view and print benefits activity; search for physicians, hospitals and pharmacies; change primary care doctor designations; order ID cards; enroll online in health and wellness programs; and receive customized news and information...

  • Page 16
    ... promoting access to clinically useful genetic testing. T here is a pressing need for genetic testing coverage guidelines that promote disease prevention and management while respecting members' privacy and preserving confidentiality. Aetna currently has a comprehensive policy in place for coverage...

  • Page 17
    A Gift of Life Aetna's National Medical Excellence Program® (NME) provides focused, specialized coverage for some of our neediest members, those requiring organ transplants. Hospitals that have been selected to participate in our enhanced national transplant network, the Institutes of Excellence...

  • Page 18
    ...as dental, life and short-term disability products. T his approach streamlines the process for selecting health and related benefits plans, enabling employers to spend more time on their business, and less time choosing and maintaining their benefits package. T he result: More Americans who work for...

  • Page 19
    ... a Better System "...Building on our -year heritage, Aetna will be a leader, cooperating with doctors and hospitals, employers, patients, public officials and others to build a stronger, more effective health care system." - Aetna Mission Statement In line with the second part of Aetna...

  • Page 20

  • Page 21
    ... AIDS. T he United States faces health disparities linked to income, race, lack of health insurance coverage and gaps in the current safety net. T he growing threat of bioterrorism will require improved surveillance systems, a stronger public health infrastructure, and better vaccines and treatments...

  • Page 22

  • Page 23
    ... Executive Director, Center for the Advancement of Health Scientific breakthroughs go only so far. People must act to prevent and manage disease. Seeking a genetic test for breast cancer, giving up smoking, feeding the kids fruit for dessert, getting an annual flu shot, or responding to the threat...

  • Page 24

  • Page 25
    ... successful insurance will require policy changes and additional public resources. T hese changes will only come if we put long-term care on the policy agenda - as part of public debate about Medicare, Social Security and Medicaid. Our society does better than it used to for people with disabilities...

  • Page 26

  • Page 27
    ... and Psychiatry Associate Professor of Epidemiology and Public Health and of Psychology, Yale University Women's medicine must integrate behavioral as well as biomedical approaches to enhance health and well-being. At the turn of last century, women lived an average of  years. By life...

  • Page 28

  • Page 29
    ... chronic conditions and as the population ages, nurses' holistic approaches to health care are increasingly sought by patients and families. Almost nurses have earned advanced degrees to assume expanded roles in clinical care, including the authority to prescribe drugs. Nurse practitioners provide...

  • Page 30

  • Page 31
    ... example of the economic costs of obesity. Formerly rare in children, it is now common. Long-term diabetes complications of blindness, kidney failure and leg amputations produce disability that diminishes or precludes ability to work. Obesity-related diabetes in adults has a modest impact on...

  • Page 32

  • Page 33
    ...to address the burgeoning issues surrounding genetic privacy and discrimination. As genetic technology speeds forward, education of health care providers, policy-makers, and the public will need to accelerate as well. Will application of genetic knowledge and development of reasoned public policy be...

  • Page 34

  • Page 35
    ... Information prescriptions can help confused patients better manage chronic illness and share in medical decisions. Americans are confused about their health care. Good medical information is as important to good health as surgeries, medical tests and medications. And yet the American health...

  • Page 36
    Consolidated Statements of Income Consolidated Balance Sheets Consolidated Statements of Cash Flows Board of Directors Leadership Council Shareholder Information Information about the Essayists

  • Page 37
    ..., since including such securities would be anti-dilutive. As a result, diluted and basic per common share amounts for and are the same. The foregoing financial information should be read in conjunction with the financial statements and related notes as presented in Aetna Inc.'s Annual Report...

  • Page 38
    ...Health care costs payable Future policy benefits Unpaid claims Unearned premiums Policyholders' funds Collateral payable under securities loan agreements Short-term... financial information should be read in conjunction with the financial statements and related notes as presented in Aetna Inc.'s...

  • Page 39
    ... activities: Deposits and interest credited for investment contracts Withdrawals of investment contracts Issuance of long-term debt Repayment of short-term debt Capital contributions from former Aetna Dividends paid to former Aetna Common shares issued under benefit plans Common shares repurchased...

  • Page 40
    ... Retired Chairman and Chief Executive Officer CBS Corporation Jack D. Kuehler Retired Vice Chairman International Business Machines Corporation Joseph P. Newhouse John D. MacArthur Professor of Health Policy and Management Harvard University Judith Rodin President University of Pennsylvania John...

  • Page 41
    ... Counsel and Corporate Secretary Wei -Tih Cheng Senior Vice President and Chief Information Officer Eric S. Elliott Vice President Pharmacy Management Patricia A. Farrell Senior Vice President Strategic Planning Russell D. Fisher Senior Vice President National Accounts and Aetna Global Benefits Mary...

  • Page 42
    .... Also available on Aetna's Web site at http:/ / www.aetna.com are the following Aetna corporate governance materials: Articles of Incorporation and By-Laws; Code of Conduct for Directors, officers and employees (and information regarding any amendments or waivers relating to Aetna's Directors...

  • Page 43
    ... Office of the Corporate Secretary Aetna Inc.  Farmington Avenue, RC4A Hartford, CT Securities analysts and institutional investors should contact: Dennis Oakes, Vice President Fax Internet mail: [email protected] Employees with outstanding stock options should address...

  • Page 44
    ... Funding for Biomedical Research: Commitment and Benefits, is Majority Leader of the United States Senate and former Director of the Vanderbilt Transplant Center. An expert in health care policy, Senator Frist is also board certified in both general surgery and heart surgery. Jessie Gruman, Ph...

  • Page 45
    : VSA Partners, Inc.  : Michael O'Brien : Litho Inc

  • Page 46
     Farmington Avenue, Hartford, CT  --US-AETNA http://www.aetna.com ...