1. Aetna, A Healthcare Benefits Company: A SWOT Analysis

2. The History of Aetna
Aetna Insurance incorporated as Aetna Life Insurance Company in 1853.
Aetna began issuing farm mortgage loans in 1867.
In 1899 “Aetna becomes one of the first stock insurance companies to enter into the health insurance business” (Aetna.com, n.d.). This new product was only offered to current life or accident policy holders.
In 1910, Aetna began using Hollerith (keypunch) machines for tabulating. This is an early example of Aetna’s use of technology to improve efficiency.
In 1913, Aetna sells its first group life insurance policy. This became the foundation upon which Aetna built its current health care business.
In 1951, Aetna’s group department introduces major medical coverage.
Source: Aetna.com/about-us

3. Aetna Today
Aetna is ”one of the nation’s leading diversified health care benefits companies” (Aetna.com/about-us)
Aetna is helping people make better informed decisions about the health care and the financial side of healthcare by providing information and recources.
Aetna offers a diversified product line including medical, pharmacy, dental, behavioral health, and group life and disability plans.
Aetna also offers health care management services like workers’ compensation and health information technology.
Aetna employs about 50,000 people serving 46 million members.
Aetna reported their 2015 revenue as approximately $60.3 billion.
Source: Aetna.com/about-us

4. Aetna’s Values
“Everything we do at Aetna starts with our values -- a clear, strongly held set of core beliefs that reflect who we are and what you can expect from us. We created our core values together, as a company and with guidance from our customers. Our values carry through our thoughts and actions every day, inspire innovation in our products and services, and drive our commitment to excellence in all we do.”
- Chairman, CEO and President Mark Bertolini
(Aetna.com/about-us, n.d.)
Source: Aetna.com/about-us

5. Aetna’s Vision For the Future
CEO and Chairman of Aetna, Mark Bertolini called the health insurance sector “too bloated and accountable to no one, [the system] charges patients and rewards care providers on services delivered, not patient outcomes” (Radjou and Prabhu, 2015).
Aetna plans to lead the change in healthcare with a three pronged system
Aetna will now pay doctors and hospitals based on positive patient outcomes rather than tests and procedures performed.
Aetna is using a low-cost, low-investment lean startup approach to rapidly test and scale innovative ideas.
Aetna is putting their plan into action within the organization by adopting private exchanges and consumer engagement tools for its own employees.

6. Aetna’s Organizational Strengths
Aetna’s core values are clearly stated, both internally and externally, and are used throughout every aspect of the organization.
Aetna has a clear vision for the future of the organization as well as the future of the health care system as a whole.
Aetna has a strong relationship with medical providers and facilities
Aetna has a high employee satisfaction rate due in part to the multiple employee perks such as, education assistance, yearly bonuses, discounts on medical premiums, and flexible schedules.
Aetna has a strong sense of corporate responsibility with programs including, community wellness programs, environmental preservation programs, and charitable donations.
Aetna offers a diverse book of business from medical and dental policies to medical information management and population health management programs.

7. Aetna’s Organizational Weaknesses
High enrollment in less profitable Administrative Services Only (ASO) business (Leading Health Plans, 2014).
Frequent restructuring of internal organization model with change in management team.
High medical loss ration.
Low employee satisfaction surrounding downline communications and systems integration

8. Aetna’s Organizational Opportunities
Global market expansion.
Digital technology advancements.
Population health management acquisitions.
New government sector business.

9. Aetna’s Organizational Threats
Resistance to change from within the health care industry.
Government policies and limitations.
Competition from other large group health insurance providers.
Too much invested too fast in new initiatives without time to evaluate ROI.
Resistance to change from investors who have been seeing profits from the current business model.

10. Why Does Aetna Exist?
Aetna wants to build a new health care system and a healthier world.
Aetna’s mission statement:
"Aetna is dedicated to helping people achieve health and financial security by providing easy access to safe, cost-effective, high-quality health care and protecting their finances against health-related risks.” (Makingafortune.com, n.d.)

11. Where Aetna Stands on Social Media
Aetna’s current social media position is Forging. According to Bradley and McDonald (2011) an organization with a forging attitude are beginning to “integrate productive community collaboration into their daily work lives” (p. 50).
Aetna’s is in the forging stage. They have begun to communicate with both industry professionals as well as the general public regarding important aspects of health care.
Aetna’s is in the beginning stages of forging and is still learning how to listen to its followers and start collaborative conversations.

12. Future Organizational Objectives
Increase enrollment in more profitable Accountable Care Organizations (ACO)
ACO- Value-Based payout system
Lobby for change in health care structure with government officials and investors to lessen resistance
Invest in technological advancements for patient information management systems, patient communications, care, and education.

13. Possible Targets for Organizational Objectives
Increase enrollment
Increase enrollment across all products to 75 million by 2020
Increase enrollment in more profitable Accountable Care Organizations (ACO) (value based payout system)
Lobby for change in health care structure with government officials and investors to lessen resistance
Continue to lobbying in Washington, D.C. for changes to healthcare
Participate in Senate Subcommittee’s as necessary to maintain the reputation of the organization and improve the health care industry as a whole.
Lobby for approval of Aetna/Humana merger
Invest in technological advancements for patient information management systems, patient communications, care, and education.
Capitalize on the acquisition of Healthagen to utilize their existing software for population management
Invest $15 million to new innovative technology advancements for patient information exchange systems

14. Leveraging Strengths and Opportunities
Capitalize on the recent merger with Healthagen to access their existing patient management software.
Continue to reach out to local and national communities and organizations to provide health education
Start the conversation using social media regarding the future of healthcare, listen to what the public wants and educate them on Aetna’s plan for the future.
Continue to foster relationships with providers and facilities through effective communication.

15. Minimizing Weaknesses and Threats
Continued involvement in government policy changes, being the voice for our nation’s health care system.
Present a clear vision for the future and possible profit projections for investors.
Analyze other large group health insurance providers and adjust Aetna’s business strategy to stay competitive.
Evaluate ROI on technology investments at 6 month intervals.
Educate members on ways to improve their health to cut medical costs.

16. References:
ACO Watch. (n.d.). Retrieved April 24, 2016, from Aetna Values. (n.d.). Retrieved April 23, 2016, from us/aetna-values.html Aetna’s Frugal Healthcare Strategy. (n.d.). Retrieved April 23, 2016, from business.com/blog/Aetna-Frugal-Healthcare- Strategy?gko=432ba Blanchard, O. (2011). Social media ROI: Managing and measuring social media efforts in your organization. Indianapolis, IN: Que. Bradley, A. J., & McDonald, M. P. (2011). The social organization: How to use social media to tap the collective genius of your customers and employees. Boston, MA: Harvard Business Review Press. Leading Health Plans: Key Strengths and Weaknesses | Health Strategies Group. (n.d.). Retrieved April 24, 2016, from health-plans-key-strengths- and-weaknesses Working at Aetna. (n.d.). Retrieved April 23, 2016, from