To compete more aggressively with the online health giant Healtheon/WebMD,
six HMOs are considering joining forces to develop their own Internet venture.
The consortium, tentatively called MetUnited, is investigating ways to reduce
administrative hassles for physicians and patients online.
The HMOs considering the venture include Aetna, Cigna, WellPoint Health Networks,
Oxford Health Plans, Foundation Health Systems and Pacificare Health Systems.
A formal announcement is expected in a few weeks.
The health plans are reportedly working with Oracle and IBM, according to the
Associated Press.
If the HMOs did strike a partnership, it would be an interesting venture given
the companies are fierce competitors in several major cities.
It would be advantageous for the HMOs to work together on an Internet transaction
system because if only one of them did it would would have little effect on
physician offices. Physicians often accept members from several major insurance
companies.
Internet analysts say the partnership is likely to spark a trend of similar
ventures involving other managed care organizations. Last week, financial analysts
attributed the 16% dip in Healtheon's stock ($25.83) to the rumored alliance.