Aetna has hired away Robert Michael Kropp, M.D., chief medical officer of Cigna Healthcare of Florida, to serve as a senior medical director for Aetna's Southeast region, the Hartford, Conn.-based company announced today.
At Cigna Healthcare of Florida, Kropp was vice president and chief medical officer overseeing quality improvement and medical cost, Aetna says in a release.
Kropp, a pediatric neurologist by training, has been with Philadelphia-based Cigna since 1995, Aetna says.
"Dr. Kropp is a tremendous addition to our regional team," says William Hauser, M.D., Aetna's Southeast region medical director, in a release. "He brings to us a great deal of experience in clinical practice, medical and quality management."
Cigna, which is selling its retirement and investment division for about $2 billion to New York-based Prudential Financial, has been beset by financial problems for several years.
In October, Cigna posted a quarterly profit and forecast earnings above Wall Street estimates, but its healthcare business reported lower profits. Cigna reports that its health plan membership has fallen to from 13.1 million a year ago to 11.8 million now.
Aetna also has been shedding members, but recently it projected 2004 membership to rise by 3% to 5%. The company reports that net income more than doubled for the quarter that ended Sept. 30.