Appointment of Kidwell signals WellPoint Health Networks' commitment to take industry lead in electronic commerce.WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Nov. 6, 1996-- Advanced technology gives providers faster payment and quick access to financial information William Kidwell has been appointed vice president of Health Care Transaction Network (HCTN) for WellPoint Health Networks Inc. (NYSE NYSE See: New York Stock Exchange :WLP WLP WebLogic Portal (Bea Systems) WLP Wafer Level Packaging WLP Women's Learning Partnership (Bethesda, MD) WLP Workplace Learning & Performance WLP World Library Partnership, Inc. ). Kidwell brings 20 years of executive skill in computer operations, health care, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against and marketing to his new position. His appointment demonstrates WellPoint's recognition of the growing need to communicate efficiently and quickly through the use of advanced technology and the corporation's commitment to being a leader in electronic commerce in the health-care industry. ``Bill is a seasoned executive with an extensive background in high technology and its use to improve industry transactions,'' said Howard Phanstiel, executive vice president, finance and information systems, WellPoint. ``Our commitment to increasing the amount of electronic communications between ourselves and providers -- this translates to seamless access to financial information, faster claims processing, faster payments to doctors and hospitals and overall savings to consumers in administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. . ``Bill's first priority will be the national rollout of our newest electronic claims product for providers, SuperCube Two. His knowledge, skill and marketing savvy will intensify our HCTN division efforts, where sales of our electronic technology are growing rapidly.'' The products of the HCTN division of WellPoint are an essential ingredient in WellPoint's expansion to a national company. WellPoint's strategy for growing nationally involves building upon core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Through HCTN, WellPoint will supply providers across the country with sophisticated remittance software for seamless transactions, quicker payment and detailed financial reports. Prior to joining WellPoint, Kidwell served as chief executive officer of a medical-equipment manufacturing company in Colorado, as well as being a business consultant to a variety of ventures in the state, and served as president of the Small Business Advisory Council. Kidwell received his education at the University of Texas, where he earned a bachelor of business administration “BBA” redirects here. For other uses, see BBA (disambiguation). The Bachelor of Business Administration (BBA) is a bachelor's degree in business studies. degree. WellPoint Health Networks is one of the nation's largest publicly traded managed-health-care companies, serving the health-care needs of approximately 4.4 million medical members. WellPoint offers a comprehensive array of quality network health plans provided through its health-maintenance organization, preferred-provider organization and specialty managed-health-care networks. Specialty products include pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. , dental, vision, mental health, life and disability insurance, flexible spending accounts flexible spending account, n an employee reimbursement account primarily funded with employee-designated salary reductions. Funds are reimbursed to the employee for health care (medical and/or dental), dependent care, and/or legal expenses and are , Medicare supplement and 24-hour integrated, network-based workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. . CONTACT: WellPoint Health Networks Inc., Woodland Hills Cynthia Coulter, 818/703-3046 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion