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The Indianapolis Star Insider Action column(Indianapolis Star, The (KRT) Via Thomson Dialog NewsEdge) Feb. 4--WellPoint Chief Executive Angela Braly rattled off a list of what she called milestones of the past year at the Indianapolis-based health insurance giant. Some of those were new tech tools, such as online services allowing consumers to manage their own health care, research hospital prices and rate doctors. "While I'm proud of these many accomplishments," Braly said Jan. 23 during WellPoint's year-end conference call with analysts, "I recognize that we still have much to do if we want to truly transform health care." And this year WellPoint is asking for ideas. The company has been making plans for its first Consumer Innovation Event, which is slated March 11-12 in California. The invite-only gathering is designed to give small companies a chance to pitch their ideas and products to WellPoint. Each participant gets 30 minutes to make a presentation, which is followed by a 15- minute question-and-answer session. WellPoint said more than 50 of its leaders will be on hand to talk with the companies. WellPoint said it received about 65 applications for the event and last week notified those invited to participate. (It's too late to apply now.) The goal is to find at least one potential partner for an "in- market pilot program" in areas such as improving consumer education, doctor and hospital relationships, or the efficiency of health-care delivery and administration, according to WellPoint. It's a sort of "American Idol" for health-care innovators. WellPoint, though, isn't revealing many details. Company spokeswoman Cheryl Leamon said an executive was unavailable to comment on the event. She also declined to disclose the names or types of companies that applied or specifically where the event will be held. (A quick call to the Golden State confirmed that the event will take place at the Four Seasons Hotel in Westlake Village, Calif. -- home of the posh luxury health center in which WellPoint has invested.) WellPoint's quest for innovation seems to make sense. Health insurers increasingly are looking to technology to help control costs. WellPoint's medical expenses have been rising. In 2007, 82.4 percent of premium revenue was spent on medical claims -- up from 81.2 percent in 2006. Last year WellPoint paid about $300 million for American Imaging Management, which makes software to help select the most medically appropriate and cost-effective imaging procedure for patients. When the acquisition was announced in July, WellPoint said the technology had been shown to cut radiology costs by 20 percent. Other technology is designed for use by the consumer. The Anthem Care Comparison tool, for example, allows members to research price ranges of common services at hospitals. So WellPoint's next innovative milestone just may be discovered in California. Call Star reporter Daniel Lee at (317) 444-6311 or e-mail him at [email protected]. To see more of The Indianapolis Star, or to subscribe to the newspaper, go to http://www.IndyStar.com. Copyright (c) 2008, The Indianapolis Star Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. |