![]() ![]() The winners join honorees from more than 46 countries recognized by the Best Managed Companies program. We're honored to be one of the 17 gold standard winners recognized this year."Īpplicants are evaluated and selected by an independent panel of judges focused on assessing hallmarks of excellence in four key areas: strategy, ability to execute, corporate culture, and governance/financial management. "It is thanks to the dedication of Blue Shield's more than 7,500 employees that we were named a US Best Managed Company for four consecutive years. , senior vice president and CFO at Blue Shield of Designees propelled their businesses forward and remained true to their purpose and values by investing in their people, creating advantage through digital transformation, taking measurable action on sustainability, and demonstrating their commitment to diversity, equity, and inclusion.Ĭontributed to earning this recognition," said Standardizing on Oracle Cloud better prepared Blue Shield of California to support a workforce that was suddenly working remotely, such as the finance team closing the books while working from home.The 2023 designees are private companies that have demonstrated excellence in strategic planning and execution, a commitment to their people, fostering a dynamic culture, and strong financial management. Since selecting Oracle several years ago, Blue Shield of California has moved into new areas such as subsidiaries to support providers, and Oracle’s unified platform has helped enable that through the creation of a center of excellence to ensure that its ERP and HCM applications operate in a consistent manner. One of the company’s top selection criteria was a solution that could move the organization forward, from the scalability and security of its applications, to the continuous innovations delivered in quarterly updates across a unified suite. The pandemic has added additional urgency to that effort, prompting Blue Shield to reallocate resources into innovation, get financial information into the hands of decision makers faster, and stay on top of new COVID-related rules and regulations.īlue Shield of California standardized on Oracle Fusion Cloud applications, including Oracle Cloud ERP and HCM running on Oracle Cloud Infrastructure. ![]() In terms of operations, the nonprofit company had implemented cloud-based systems for finance and human resources to create an enterprise backbone better able to support its mission to reimagine healthcare and deliver more positive outcomes for patients, providers, and payers. Blue Shield of California had been monitoring the outbreak since January 2020, well in advance of state action, to do scenario planning, keep members informed, and keep more than 6,800 employees safe. The nonprofit health plan also extended $200 million in direct support to providers and hospitals, and restructured contracts for physicians and hospitals as revenue dropped for non-COVID care and elective procedures. ![]() For example, Blue Shield of California waived all fees for virtual care and COVID-19 screenings for its members. The pandemic increased financial pressure on several fronts. The COVID-19 pandemic and resulting economic recession only heightened the importance of the company’s financial support to its members, and to the hospitals and other providers that deliver care. Blue Shield of California is a health insurance plan with more than 4 million members, serving California’s commercial, individual, and government markets. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |