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August 12, 2014 01:00 AM

WellPoint to change name to Anthem

Bob Herman
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    Swedish

    WellPoint, one of the largest investor-owned health insurers in the country, is looking to rebrand itself as Anthem, pending shareholder approval.

    Joe Swedish, WellPoint's CEO, told Modern Healthcare the insurer was making the change to better connect with consumers in a “radically changing” healthcare environment. After surveying 55,000 people about their healthcare preferences, officials said they found brand was at the top of consumers' list, along with price and provider network.

    “We're dealing with a consumer-oriented industry that now is being put in a position to make healthcare decisions for themselves and their families that is based around more information around access, quality and price,” said Swedish, a former health system CEO. “We have to demonstrate a brand that gives each person a value proposition.”

    Swedish also said the Anthem name will hopefully eliminate brand confusion among its 48,000 employees and large provider network, in addition to its millions of members. The insurer, which operates Blue Cross and Blue Shield plans, took on the WellPoint name in 2004 when WellPoint Health Networks and Anthem merged. However, most of its plans carry the Anthem name, including in California, Virginia and Connecticut.

    “This will help tremendously in aligning our relationships” with all stakeholders, Swedish said.

    WellPoint, based in Indianapolis, had 37.3 million members as of June 30.

    The company has moved more aggressively than Aetna and UnitedHealth to participate in the state and federal health insurance exchanges created under the healthcare reform law. In the second quarter of this year, the insurer added 769,000 exchange members, predicting profit margins for exchange plans will range between 3% and 5%. Swedish said he also expects the Anthem name “absolutely will help” WellPoint as it ramps up its exchange efforts.

    The name change is believed to go into effect by the end of this year. Shareholders must approve the move and will have a chance to do so at a special meeting on Nov. 5.

    Follow Bob Herman on Twitter: @MHbherman

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    • News
      • Current News
      • Providers
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      • Technology
      • Safety & Quality
      • Digital Health
      • Transformation
        • Patients
        • Operations
        • Care Delivery
        • Payment
      • ESG
      • People
      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Opinion
      • Bold Moves
      • Breaking Bias
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      • Vital Signs Blog
      • From the Editor
    • Events & Awards
      • Awards
        • Nominate/Eligibility
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        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Video Series - The Check Up
      • Sponsored Video Series - One on One
    • Data Center
      • Data Center Home
      • Hospital Financials
      • Staffing & Compensation
      • Quality & Safety
      • Mergers & Acquisitions
      • Data Archive
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      • Surveys
      • Data Points
    • Newsletters
    • MORE+
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