New CEO for Blue Cross Blue Shield

Posted on Aug 20, 2010 by Sergio Ulloa (G+)  | Tags: BCBSMA, Blue Cross Blue Shield Massachusetts, Chief Executive Officer

Blue Cross Blue Shield of Massachusetts (BCBSMA) has chosen Andrew Dreyfus to become the new president and chief executive starting on 07 September 2010. Boston-based BCBSMA, which is the largest health insurer in the state, had been led by William C. Van Faasen as interim CEO, after the resignation of Cleve L. Killingsworth in March 2010. Mr. Dreyfus is a veteran insurance executive who had served as executive vice president for healthcare services at BCBSMA for the past five years, he is 51 years old. Before joining Blue Cross in 2001, Mr. Dreyfus worked on healthcare in state government, through the Massachusetts Hospital Association, from where he commissioned a report that became the foundation for the healthcare law in the state. Mr Dreyfus currently spearheads the effort within BCBSMA to remunerate providers based on the value of their services, rather than volume. At this point in time, the state of Massachusetts is facing rising healthcare costs, which have burdened businesses and consumers alike, as well as becoming an issue for insurers and healthcare providers. In a recent announcement, Blue Cross Blue Shield reported a loss of US$14.3 million (EUR 11.2 million) in the first half of this year attributed in part to "inadequate premiums" due to the state rate cap in the SME business and individual markets. For the most part of this year, BCBSMA had been embroiled in a dispute over these state-imposed rate caps, before finally reaching a settlement with regulators earlier this month, agreeing to voluntarily limit its rate increases in the small-group market to single-digit increments for the rest of this year. After the announcement for the new role of Mr. Dreyfus, he said in a statement that "Making healthcare affordable is, and will continue to be, our company's highest priority." Insurance Company mentioned: Blue Shield Blue Cross Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association. he Blue Cross and Blue Shield Association (BCBSA) is a national federation of 39 independent, community-based and locally operated Blue Cross and Blue Shield companies. Throughout our 80-year history, the 39 Blue Cross and Blue Shield companies have provided millions of families with top-quality, affordable health insurance. Today, the Blue Cross and Blue Shield Brands are registered in more than 170 countries.