BCBSNC to Cut Administrative Costs by 2014
August 5th, 2010
In anticipation of new regulations in the new healthcare reform bill on cost ratios, Blue Cross Blue Shield of North Carolina is aiming to cut administrative costs by 20% by 2014, which would mean trimming $200 million out of its $1 billion annual budget. The company will be examining everything from claims processing procedures to facilities and real estate holdings. Personnel will be under scrutiny as well, though BCBSNC hopes to use attrition and early retirement to trim staff rather than layoffs.
(The original Charlotte Observer article by Scott Wolf [July 14, 2010] is no longer available online, but more information can be found here.)
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