Independence Blue Cross (IBX) recognizes that the cost of health care in the U.S. can be frustrating for many people — members, employers, doctors, and health systems. That’s why the company is tackling what drives rising health care costs and creating tools and programs to help manage them. This is IBX’s commitment to Getting Health Care Right.
“Rising health care costs affect everyone and create barriers for people who need coverage and care. Tackling these costs starts with understanding what’s driving them. That’s our goal with this effort: To give people a clear picture of how the health care ecosystem got to this point and how we are working with our health care partners to create solutions to help fix it,” said Dr. Richard Snyder, executive vice president and chief operating officer at Independence Blue Cross.
Rising health care costs are driven by many forces. Among them are:
- Growing expenses that hospitals, health systems, and doctors face, driven in part by mergers and market consolidation
- Drug breakthroughs and advances in technology that often come with high price tags
- Increased use of health care services, along with more complex health conditions
- Regulatory and legislative changes and loss of subsidies creating uncertainty
IBX is creating sustainable programs and tools that address rising costs and put members’ needs first. To do this, IBX negotiates with drug manufacturers and health systems to secure fair prices for members and employers. “These conversations aren’t always easy, but they’re essential to creating solutions that help get people access to the care they deserve,” said Dr. Snyder.
Here are some examples of IBX’s commitment to Getting Health Care Right:
- Partnering with health systems to support more affordable, high value care. This includes shifting procedures, when appropriate, to ambulatory surgery centers, cardiac catheterization labs, and enhanced primary care settings that deliver high quality at a lower cost.
- Expanding access to biosimilars (safe alternatives to biologic drugs) to help lower how much is spent on specialty drugs for conditions like cancer, rheumatoid arthritis, and Crohn’s disease.
- Leveraging Evio, a pharmacy innovation company that IBX co-owns with five other Blue Cross Blue Shield plans, for analytics, contracting tools, and digital solutions that help lower costs for members.
- Offering innovative plan designs to give employers and members greater price certainty and transparency. Like Coupe Health, which offers upfront costs with no deductibles or coinsurance, quality‑ranked providers, and a streamlined digital experience that is leading to an average 9 to 10 percent reduction in total health plan costs for those using the plan.
For the latest updates on IBX’s Getting Health Care Right awareness campaign, visit ibx.com/affordability.
Media contact:
Diana Quattrone
215-815-7828 (cell)
Diana.Quattrone@IBX.com
