Venkata Rajamannar Madabhushi has been named as the new chief of Indianapolis-based health insurance giant WellPoint Inc., reports ibj.com.
The new leader was appointed early this week to strengthen the insurer's Medicare businesses and to deliver profits despite recent struggles in the key sector.
Rajamannar will take control of the various Medicare Advantage plans WellPoint runs around the country, replacing Brian Sassi, who was fired last month. Rajamannar will also oversee WellPoint's international, marketing and product innovation divisions, as well as its corporate development functions.
WellPoint's future depends on serving beneficiaries of Medicare, the federally funded health insurance plan for seniors.
Enrollment in Medicare is predicted to grow rapidly as baby boomers retire, even as employer-sponsored health plans stagnate or shrink.