AM Best Recognizes BlueCross BlueShield of South Carolina With 19th Consecutive A+ Rating
December 16, 2020
Columbia, S.C. — Demonstrating consistency of excellence in its core competencies year after year, once again BlueCross BlueShield of South Carolina was awarded AM Best’s A+ rating. This time for the 19th consecutive year.
AM Best describes itself as the world’s most authoritative insurance rating and information source. This rating is important to business customers, individual customers, providers, vendors and others. It verifies BlueCross’ financial stability and security. It also offers an assessment of the organization’s operating performance, business profile, risk management processes compared to insurance companies in the U.S. and elsewhere. And, it affirms BlueCross’ commitment to innovation.
AM Best considers the importance of brand and marketing. As a South Carolina-based company with deep roots, BlueCross takes its position as a local corporate citizen seriously, which factors into the strength of its brand. Complementing that brand strength is an understanding of the local market.
That knowledge translates into member benefits such as extensive provider networks, and breadth of health insurance product offerings. For example, BlueCross also continues as the only health insurer competing in all customer segments in the state. The organization remains the only health insurer available on the federal exchange in all counties in South Carolina since 2016.
Moreover, the company continues to work closely with providers in finding innovative solutions that improve care while reducing cost. One example of note is its investment in care management initiatives.
Nowhere is this more evident than in the piloting of Precision Care Solutions, a program that uses a predictive analytic model to provide targeted outreach to members whose diabetes puts them at risk for hospital admission. This early intervention increases quality of life, improves health outcomes and achieves cost savings. With its success, additional member populations are being added to the program as the predictive analytic model is expanding to include chronic obstructive pulmonary disease and congestive heart failure.
According to David Pankau, president and chief executive officer of BlueCross BlueShield of South Carolina, this annual rating is an important metric for the company. He said, “The baseline for our leadership team is a focus on strategic planning, innovation and excellence in implementation. This attitude permeates our culture and is demonstrated in our efforts to be forward thinking, operationally efficient and effective, and focused on the needs of our customers.
“The current pandemic has only reinforced the importance of our work. Providing uninterrupted service to our members and providers in the midst of an unprecedented public health crisis makes it all the more gratifying that we continue meet the high standards we set for ourselves. That AM Best also recognizes those efforts reinforces our decision-making.”
About BlueCross BlueShield of South Carolina
Headquartered in Columbia and operating in South Carolina for 74 years, BlueCross BlueShield of South Carolina is an independent licensee of the Blue Cross and Blue Shield Association. The only South Carolina-owned and operated health insurance carrier, BlueCross BlueShield of South Carolina comprises more than 20 companies involved in health insurance services, U.S. DoD health program and Medicare contracts, other insurance and employee benefits services, and a philanthropic foundation that funds programs to improve health care and access to health care for South Carolinians.