Strength and Weakness in Highmark Blue Cross Blue Shield
One of the largest health insurers in US, Highmark Blue Cross Blue Shield was created in 1996 by the consolidation of two Pennsylvania licensees of the Blue Cross and Blue Shield Association. These two companies were earlier known as Pennsylvania Blue Shield (now called Highmark Blue Shield) and a Blue Cross Plan in western Pennsylvania (now termed Highmark Blue Cross Blue Shield). It has a long history of serving the communities, which dates back to 1930s when the predecessor companies were established to help people pay for proper medicare. However, the mission has remained unchanged. It is essentially to provide access to affordable, quality health care enabling individuals to live longer, healthier lives.As a provider of health care insurance, the vision of the company is clear. It is "to be the leading customer-focused health insurer in the communities we serve, addressing the health care needs of individuals, while maintaining our financial strength." The strength of the organization lies in its people. Highmark has become representative of successful health insurers, apart from being one of the largest. It has effectively created a synergy of different skills, talents, potential and backg
This is a major threat. However, it can also be turned around. Highmark, by a systematic compaign can attract more healthy people buy health insurance. This would result in less claims on the percentage of total customers. In other words more money would go in and less paid out. These all constitute threat to the economic viability of private health insurance companies. However, this threat can be converted into an opportunity by such organizations. By advocating and spreading preventive education, Highmark can keep the premiums low and affordable, and also win social acceptability and approval. The economic dimension is another major impact. The growth of economies and their structural transformation have always been recognized as being at the core of development. They still are the most important preconditions for the fulfillment of human needs and for any lasting improvements in living conditions. Health insurance companies use the term "adverse selection" to describe the tendency for sick people to be more likely to sign up for health insurance. Insurance companies say that asymmetry of information about a person's health and behavior is likely to lead to adverse selection. Those seeking health insurance are likely to be the ones with existing medical problems or those who are likely to have future medical problems,
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Approximate Word count = 906
Approximate Pages = 4 (250 words per page double spaced)
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