2023 IN BRIEF
YEAR IN REVIEW
In 2023, we focused on what matters most to our members, customers and communities: more affordable care, access to high-quality primary and specialty care, health equity for all, and a health care experience that is much simpler and more personal. Here are some of the steps we took:
Focusing on health care costs
Affordability is our No. 1 priority, and in 2023, our leaders worked toward a healthier, fairer, more accessible system.
We saved millions of dollars for our members and customer around the country with our new pharmacy benefits partnerships. We also put our advanced technology to work to save our customers money -- for example, using artificial intelligence to identify fraudulent claims. And we prepared to bring a suite of innovative, more affordable medical, pharmacy, dental and vision options to our members in 2024. We also advocated for a more affordable health system statewide.
And we introduced a new Flex Card for our Medicare Advantage members, loaded with up to $2,160 in savings for fitness, weight-loss, vision and dental care, and more.
Guiding members to high-quality care
Our members around the country deserve the right care, in the right place, at the right time and at the right price. That’s why we act as a guide, helping them access new options for primary care and specialty care and specialty care, in-person and online, as well as special programs for managing chronic conditions such as kidney disease.
We also eliminated red tape to help our hospitalized members move to home health care more easily when appropriate.
Expanding access to mental health care
We know the need for high-quality, affordable mental health care has never been greater. So we’ve more than doubled our spending on mental health services since the beginning of the COVID-19 pandemic.
We expanded our network of mental health providers and added new online tools to help members find the care that’s right for them and their families. We waived member cost share for life-saving, over-the-counter medication to reverse opioid overdoses. We expanded dental care to members with mental health conditions.
We are proud to have received national attention for our Mental Health Advocate Program. And our Foundation launched a community mental health grant program to support nonprofits that are addressing underlying social, economic and cultural causes of anxiety, stress and depression.
We aim to give our members access to high-quality mental health care, whenever and wherever they need it.
Recognizing the urgent demand:
Support is more essential than ever. It can be hard to find the right resources, and the time to get help.
Facing the challenge:
We’re responding with an expanded network of clinicians. +46% from five years ago. We offer mental health advocates who work as navigators, helping members find the right support, whether in-person, online, or in a treatment facility.
We offer enhanced online support. Our online mental health center is personalized and interactive. We offer digital programs that provide 24/7 support for challenges including anxiety, depression & substance use disorders.
Employers can choose plans with $0 copays for mental health treatment. Our plans also include rewards for stress reduction, wellness & relaxation programs like yoga, acupuncture, meditation.
We believe everyone should have access to the right mental health care, in the right place, at the right time and the right price.
Addressing inequities in care
By the end of 2023, nearly every health care organization in Massachusetts was engaged in our health equity work. More than half our Massachusetts members were getting care from clinicians who signed on to our groundbreaking effort to eliminate racial and ethnic inequities in health care.
And an independent study found our Equity Action Community -- which provides opportunities for learning, collaboration and financial support for health care organizations in our value-based network -- is producing results: Clinicians are developing new ways to address inequities in care for diabetes, heart disease and other conditions.
Improving Support for Women and Families
We expanded women’s health offerings, including comprehensive menopause support and treatment. And we offered greater support for parents and families with high-risk pregnancies and premature babies. We also created a new dedicated reproductive health clinical team that offers customized support to members trying to navigate the complicated fertility landscape.
Investing in our communities
For decades, we have contributed financial support and the expertise and passion of our employees to help local organizations make their communities healthier. In 2023, we helped build free, state-of-the-art fitness courts in a dozen cities and towns, and we sponsored summer fitness programs in communities including Boston and Worcester.
Hey, look at that.
One thing we've learned after what we've been through relative to the pandemic is that we really need to emphasize the importance of health and wellness. We know that if people can be active, their health is affected in a very positive way.
But we know that everyone doesn't have access to gyms and they don't always have the ability to afford to go to some kind of gym. A lot of times we hear that people can't access healthy programs either because of cost or time or location. This edition of the fitness court here in Malden addresses all three of those factors.
There are no barriers to this fitness court. Every member of our community will have the opportunity and the ability to use this for themselves and their families.
These fitness courts are in community areas. They're at school, they're in parks, they're in community centers. And severyone has access to them. This particular fitness court here in the city of Malden is located near our Malden train station. It's really centrally located in Malden in general.
We see a lot of people come to the track here and walk I know myself if I'm running around and I see anything like this. I love to come by, knock out some push ups, pull ups, you know, just use it.
This is for everyone at every level. I feel like anybody can do this. You could be in a wheelchair and you can still do some things here. You could be a younger person and do things here. You can be an older person and do things here. You don't have to be an adult to use this. Kids can get out with their parents and do something here with their parents doing.
What we're finding and what we know is that if people can be active, it helps obviously their physical health, but also their mental health, you can be outdoors, you're going to feel better, it's proven that you'll feel better.
And if you can do that be active and you can improve your health and your mental and physical health, it's a real win win.
Well, you have a state of the art facility and you give individuals the tools and the knowledge on how to take care of yourself in a better way, physically, socially and emotionally, through exercise and eating. Well, you in turn, you're doing something really well for yourself and it will help your pocket in the end.
In 2023, we were named one of America’s best employers by Forbes, a reflection of our extraordinary, community-focused culture. During our annual Service Day, nearly 3,000 employees volunteered across the state to work on community projects with 57 not-for-profit organizations. We continued to deliver on our commitment to reduce our environmental impact as a company and to support organizations that are addressing environmental health inequities in their communities. For the fourth straight year, we’ve been honored as one of the 50 most community-minded companies in the U.S.
Welcome, welcome, welcome to 2023 Blue Cross Blue Shield. Here we are 13 years later, 3000 associates strong to be able to put our effort into a local cause.
It brings us together and within the community to be able to volunteer my time to make someone else's life just even a little bit better.
It just, it makes you feel, it makes your heart swell.
I feel committed to volunteering because I want to give back to my community and I want to make the commonwealth a healthier more just place that's equitable for everyone.
This is one of the moments that I think exemplifies who we are as a group of leaders, as a group of associates and as a company. Thank you for making this possible.
2023 FINANCIAL RESULTS
Coming May 2024