This was WellPoint’s first earnings report since former President and CEO Angela Braly stepped down in August. WellPoint investors criticized her leadership as the health insurer was reporting quarterly losses and fell behind UnitedHealth Group as the country’s biggest health insurer. John Cannon is the current interim president and CEO.
Total revenue in the third quarter fell 0.3 percent to $15.35 billion compared with $15.4 billion in the third quarter of 2011. WellPoint’s membership also fell 862,000 members in the third quarter, bringing its total to 33.5 million members.
For the first nine months of 2012, WellPoint’s profit dropped 5.2 percent, from $2.31 billion last year to $2.19 billion this year. Total revenue remained steady in the first nine months, increasing 1.7 percent to $46.18 billion.
More Articles on WellPoint:
WellPoint to Reorganize Into Four Business Units
WellPoint CEO Angela Braly Steps Down Amid Investor Pressure
Hospital Execs Rank WellPoint as Worst Payor
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
