IT S A REMAP BLOODBATH — WHY RODNEY DAVIS VOTED YES — A YEAR AFTER GEORGE FLOYD politico.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from politico.com Daily Mail and Mail on Sunday newspapers.
How insurers race to digitize has changed the role of CIO
How insurers race to digitize has changed the role of CIO
Nona Tepper and Jessica Kim Cohen
Print
Last February, Lisa Davis started her new job as chief information officer of Blue Shield of California, entering the healthcare industry for the first time with a new set of responsibilities and a charge to transform the Oakland-based insurer s previous operating model. A month later, COVID-19 hit. Who knew that when I took the job on February 24, 2020, that we would be entering into this global pandemic? Davis said.
Davis considers herself fortunate. Blue Shield of California had already laid out its digital transformation strategy. Insurers tight focus on crisis planning helped the industry adapt well during COVID. But even the most prepared underwent transformation.
Provided by Dow Jones
By Anna Wilde Mathews The Blue Cross Blue Shield Association said it dropped a rule that limited competition among its member insurers, moving to implement a key aspect of an antitrust settlement the companies reached last year with customers. The settlement hasn t won final approval from the federal judge presiding over the litigation, so it isn t being fully implemented. But last Tuesday the group of insurers formally lifted a cap on the share of the members revenue that could come from business not under a Blue Cross Blue Shield brand, one of the moves it had promised under the settlement.
The Blue Cross headquarters by Millennium Park
Top brass at Blue Cross of Illinois parent company got big raises last year, as health insurers emerged largely unscathed from the economic fallout of a pandemic that hammered other segments of the health care industry.
The biggest winner was former board member David Lesar, who served as interim CEO of Chicago-based Health Care Service Corp. from July 2019 through May 2020. His total compensation surged 172 percent to $16.9 million. Paula Steiner, who left HCSC after stepping down as CEO in July 2019, pocketed $12.6 million last year.
Earlier
Maurice Smith, who took the helm last June, got a 63 percent boost to $5.9 million, while longtime board Chairman Milton Carroll s pay jumped 81 percent to $8.9 million.
HCSC execs collect pay hikes at Blue Cross parent chicagobusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagobusiness.com Daily Mail and Mail on Sunday newspapers.