2022 BCBSM Annual Report: Ready to Help Michigan, Now and Always
by Blues Perspectives
| 4 min read
For 84 years, our mission at Blue Cross Blue Shield of Michigan has driven us to deliver high-value, affordable health care to our members wherever they are, whenever they need it. We come to work every day with a purpose – to remain a trusted partner to our members, providers, communities and customers. That purpose has been our driving force over the last few years, as we’ve taken a lead role in responding to the COVID-19 pandemic: helping our members and communities with support, supplies, resources and information through unprecedented times.
During rapid change, we’ve maintained a position of strength and stability. The solid foundation of our health insurance business, bolstered by our diversified businesses, has put us in a strong position to manage volatility and challenges.
Expanding our enterprise to businesses outside of health insurance has allowed us to moderate premiums for members and keep costs predictable for our customers. We are rooted in Michigan, yet we are a national company: our enterprise covers 8.5 million lives, serving members in all 50 states.
We are investing in innovative products and provider relationships to ensure our members receive the care they need at the right place and at the right time – in a coordinated way that takes their physical and mental health into account. We’re leading the way to transform how health care is paid for to promote quality and keep costs affordable.
We are deeply committed to the people of Michigan, and all the people we serve throughout the nation. We’re ready to help strengthen that commitment to our members, customers, providers and communities over the next 84 years.
Altogether, our work in 2022 reflects the tremendous dedication and passion that Blue Cross Blue Shield of Michigan employees have to continue fulfilling our historic commitments to the millions of people who count on us. Even through the challenges of the public health emergency, we continued to evolve and strengthen our company for our members and communities – ensuring that we are always ready to help.
Year after year, Blue Cross Blue Shield of Michigan thrives because we stay true to our mission as a nonprofit mutual that is committed to being a trusted partner to our members by providing affordable, innovative products that improve their care and health.
Blue Cross supports members with their whole health – body and mind – by offering the largest network of top doctors and hospitals, mobile health care solutions and flexible options. We continue to find innovative ways to deliver high-quality health care to our members, while keeping affordability and access at the forefront.
Blue Cross has the deepest relationships with health care providers in Michigan. Our members have access to the largest network of physicians, hospitals and pharmacies in the state and around the nation. For decades, we’ve worked alongside health systems and physicians to evolve how health care is delivered and focus payments on value over volume.
Read more about our efforts to transform our health care system, working collaboratively with providers to focus on quality, affordability and patient experience.
Blue Cross collaborates with organizations across the state to help families and communities thrive – and to protect the health and wellness of our most vulnerable neighbors: seniors, children and populations who have been historically disadvantaged within the health care system. We engage with local organizations and community leaders to address social determinants of health, aid in removing barriers and inequities, and increase access to services and care.
Blue Cross serves everyone in Michigan – which means our company must represent the state and its people in how we operate our business. Each year, Blue Cross’s commitment to diversity, equity and inclusion evolves and champions best practices.
Strong performance by our non-health insurance subsidiaries in 2022 helped Blue Cross Blue Shield of Michigan remain in a position to manage economic turbulence and financial market unpredictability in order to moderate pricing in health insurance, keeping health coverage more affordable.
Read more from Blue Cross Executive Vice President and Chief Financial Officer Paul Mozak on how we managed a difficult year through our diverse business structure.
View our 2022 financial performance and our 2022 Consolidated Financial Statements.
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