Insurers plan Web venture
Six large HMOs are developing their own joint Internet venture to reduce administrative hassles for physicians and patients.
The six health insurers seeking to put together the online project called MedUnited are Aetna, Cigna, Wellpoint Health Networks, Oxford Health Plans, Foundation Health Systems and PacifiCare Health Systems.
The proposed consortium would compete with Internet health giant Healtheon/WebMD, which is trying to shift health care transactions such as claims processing, patient referrals and prescriptions to the Web.
The consortium remains in the development stages, so it is still unsure if it actually will be created and what its strategy would be. But analysts say it faces many hurdles, including difficulty with sharing information and gaining physician trust.
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