Annual Report
A message from Andrew Dreyfus, President and CEO

A message from Andrew Dreyfus, President and CEO

Members, friends and partners,

Thank you for your interest in Blue Cross Blue Shield of Massachusetts. I believe 2010 will be remembered as a pivotal year for our company. We refreshed our promise—to always put our members first, and focused our vision—making quality health care affordable and began the hard work to better serve our members, innovate for our customers—the businesses of Massachusetts, and achieve our goal of creating an affordable and sustainable health care system.

From Our CEO
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Challenges and Achievements
Our company faced many challenges in 2010. An uneven economic recovery and intense competition provided the opportunity to clarify our purpose. Rigorous attention from state government, coupled with national health care reform challenged us to conduct our business differently, while continuing our contribution to expand access to care. This business environment along with leadership changes within our company compelled us to simplify our mission and concentrate our efforts. We are grateful to Bill Van Faasen for his leadership during this time and thankful that the company will continue to benefit from his guidance as Chairman of the Board.

Despite the tests of 2010, our talented and dedicated associates were able to accomplish much, while making progress toward our goals, and strengthening our company. We generated a modest margin in 2010 just one year after the company recorded a significant financial loss (see our PDF audited financial statement).

Our highest priority and a shared responsibility
Fiscal stability is essential to achieving our ultimate priority of making quality health care affordable. Health care costs are limiting the potential of businesses in our state to grow, create new jobs, and increase wages. The cost of health care means cities, towns and the Commonwealth itself have fewer tax dollars to spend on our children's education, the public's safety and crucial infrastructure. Many families and individuals wonder whether they can afford health care coverage at all.

As the largest health plan in Massachusetts with a rich tradition of serving the community, we understand that we have a responsibility to help lead the effort to better manage the cost of health care. It is a role we welcome. But this is a shared responsibility. All of us—patients, hospitals and physicians, employers and health plans—must work together to create a health care system that is affordable.

The way forward
Here in Massachusetts, we are proud to take part in the effort to create a sustainable solution to the cost of health care. Our associates, deeply committed to our vision, are working with energy and determination toward this goal.
Our plan for the future includes creating health plans and services that engage our members, their doctors and hospitals in a collaborative effort to ensure that the choices they make improve their health while promoting value—high quality health care that is affordable.

Today, Massachusetts is recognized for providing some of the best health care in the world and for expanding access to that care. Tomorrow, we hope our state is as celebrated for responsibly managing the cost of health care. Together, our community can make quality health care affordable.

Sincerely,

Andrew

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