Accenture helped Independence Blue Cross embark on an ambitious cost-cutting strategy that is poised to reduce the payer’s administrative costs by nearly 25 percent. Independence Blue Cross has already achieved yearly savings of US$32 million. Other projects, with a total annual benefit of more than US$130 million, are currently underway.
In addition to identifying high-value cost-cutting opportunities and successfully overseeing specific cost-cutting initiatives, Accenture has trained Independence Blue Cross personnel so that they are ready and able to identify and manage future cost-reduction opportunities on their own. With more efficient operations, the payer is poised to achieve high performance in a fast-changing and uncertain market.
Independence Blue Cross is a leading health insurer in southeastern Pennsylvania, with 2.4 million members. The not-for-profit company—which offers a variety of quality products and services such as managed care, traditional indemnity, Medicare and Medicaid—employs more than 5,000 people and processes nearly 26 million claims each year. In 2009, Independence Blue Cross reported total revenues of $10.5 billion.