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BUSINESS
June 11, 2014 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross' profits tumbled last year to their lowest level since the region's largest health insurer lost money in 2008 and 2009, according to IBC's annual report on its website. The Center City company reported net income of $142.6 million in 2013, down by a quarter from $191.5 million in 2012, despite a 5 percent increase in revenue, the annual report's bare-bones financial statement said. Total revenue was $11.05 billion, up from $10.48 billion, the company said.
BUSINESS
August 9, 2013 | By Harold Brubaker, Inquirer Staff Writer
  Independence Blue Cross plans to ask the Pennsylvania Insurance Department on Thursday for permission to reorganize its complicated corporate structure to allow the Philadelphia health insurer to adapt more quickly to changes in the market. "We're redesigning a 75-year-old structure that reflects our past, not our present or our future," said Daniel J. Hilferty, IBC's president and chief executive. "This redesign will give us a structure similar to our competitors and peers.
BUSINESS
March 20, 2013 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross is hiring 100 nurses as health coaches this year, to intensify attention on members with certain chronic conditions, Richard Snyder, the health insurer's chief medical officer, said. The health coaches will be the "go-to" people at IBC for members in the program, Snyder said in a panel discussion Thursday at a meeting of the Philadelphia Health IT Circle. "This consistency ensures patient-centered coaching that is individualized and coordinated," Snyder said.
BUSINESS
June 28, 2013 | By Harold Brubaker, Inquirer Staff Writer
Can beeping pill bottles help heart-attack survivors remember to take their medicines? That's one of the studies being undertaken in a research partnership announced Wednesday between Independence Blue Cross and Penn Medicine. The research collaboration requires a heavy dose of information technology, said Somesh Nigam, senior vice president and chief informatics officer at IBC. "Almost all of them require data from multiple sources," Nigam said. "Most importantly they require a 360 view of our members, our patients.
BUSINESS
May 1, 2013 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross said Monday that it would spend close to $1 million over three years in a research collaboration with New York University to spot cases of undiagnosed diabetes and predict who is vulnerable for developing the disease. IBC's contribution includes a $600,000 grant and other support. The researchers at NYU's Initiative in Data Science and Statistics will apply artificial-intelligence tools to IBC's medical and pharmacy claims data to predict the future rather than analyze the past.
NEWS
April 30, 2013
Independence Blue Cross said it will spend close to $1 million over three years in a research collaboration with New York University to learn how to use large-scale data analysis to spot cases of undiagnosed diabetes and to predict pre-diabetes.   IBC's contribution includes a $600,000 grant and other support. The researchers at NYU's Initiative in Data Science and Statistics will use IBC's medical and pharmacy claims data to develop artificial-intelligence methods for predicting which patients have undiagnosed diabetes and which patients are at risk of developing diabetes.
BUSINESS
May 25, 2013 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross said Thursday its net income last year was $191.5 million, down 39 percent from 2011. Officials at the health insurer, based in Center City, said that the 2012 bottom line was dragged down by a $90 million expense for a new operating platform and that 2011 results were boosted by a one-time $87 million gain from a joint venture. IBC's 2012 operating profit was $402.6 million, up 12 percent from $361.4 million the year before. "Despite the uncertain economy and the significant changes ahead in health care, for the third year in a row, we had a solid year," Daniel J. Hilferty, president and chief executive, said on a conference call with reporters.
BUSINESS
January 22, 2015 | By Harold Brubaker, Inquirer Staff Writer
The Independence Blue Cross Center for Health Care Innovation has invested $2.4 million in CareCam Health Systems, a Conshohocken start-up run largely by the management team, including chief executive Hal F. Rosenbluth, behind Take Care Health Systems Inc. Walgreens bought Conshohocken-based Take Care, which developed clinics in drug stores, for $249.7 million in 2008. On April 1, IBC will start using CareCam's smart-phone-based system, which is designed to help patients with chronic diseases such as diabetes follow their care plan, said Rosenbluth, who left Walgreens, where he oversaw the company's health and wellness division, three years ago. "The whole theory behind it is, if you follow the care plan you're provided with, you're going to get better," Rosenbluth said in an interview Wednesday.
BUSINESS
June 17, 2015 | By Erin Arvedlund, Inquirer Staff Writer
Independence Blue Cross and Thomas Jefferson University and Hospitals will begin collaborating July 1 to fund innovations in health care and help identify and potentially give seed money to in-house entrepreneurs. Called the Independence Blue Cross-Jefferson Health Innovation Collaboration, the $2 million partnership will be funded evenly by IBC's Blue Cross Center for Health Care Innovation and Jefferson's Innovation Pillar. The partnership creates an entrepreneur-in-residence at Jefferson and funds a fall 2015 "hackathon," an entrepreneurship curriculum, and a business speaker series for medical students and faculty.
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BUSINESS
June 17, 2015 | By Erin Arvedlund, Inquirer Staff Writer
Independence Blue Cross and Thomas Jefferson University and Hospitals will begin collaborating July 1 to fund innovations in health care and help identify and potentially give seed money to in-house entrepreneurs. Called the Independence Blue Cross-Jefferson Health Innovation Collaboration, the $2 million partnership will be funded evenly by IBC's Blue Cross Center for Health Care Innovation and Jefferson's Innovation Pillar. The partnership creates an entrepreneur-in-residence at Jefferson and funds a fall 2015 "hackathon," an entrepreneurship curriculum, and a business speaker series for medical students and faculty.
BUSINESS
May 28, 2015 | By Harold Brubaker, Inquirer Staff Writer
A new group - backed by the region's largest health insurer, its top academic medical centers, Comcast Corp., and others - wants to roll out the red carpet for health-care start-ups in the Philadelphia region. The Health Care Innovation Collaborative grew out of a CEO Council for Growth task force chaired by John Fry, president of Drexel University, and Dan Hilferty, president and chief executive of Independence Blue Cross. The collaborative is to be announced Wednesday at the Greater Philadelphia Chamber of Commerce's annual State of the Region meeting in Center City.
BUSINESS
January 22, 2015 | By Harold Brubaker, Inquirer Staff Writer
The Independence Blue Cross Center for Health Care Innovation has invested $2.4 million in CareCam Health Systems, a Conshohocken start-up run largely by the management team, including chief executive Hal F. Rosenbluth, behind Take Care Health Systems Inc. Walgreens bought Conshohocken-based Take Care, which developed clinics in drug stores, for $249.7 million in 2008. On April 1, IBC will start using CareCam's smart-phone-based system, which is designed to help patients with chronic diseases such as diabetes follow their care plan, said Rosenbluth, who left Walgreens, where he oversaw the company's health and wellness division, three years ago. "The whole theory behind it is, if you follow the care plan you're provided with, you're going to get better," Rosenbluth said in an interview Wednesday.
BUSINESS
December 28, 2014 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross on Friday disclosed a data breach affecting 12,500 of its more than 2.5 million members. Unlike most high-profile cases of personal data loss, such as the one at Target stores last year affecting 70 million people, the IBC case did not involve computers. The incident happened in October, when maintenance workers threw out four boxes of member records that were supposed to be moved from one floor to another at IBC's offices, the company said Friday in a legal notice.
BUSINESS
August 6, 2014 | By Harold Brubaker, Inquirer Staff Writer
Tandigm Health, an Independence Blue Cross joint venture designed to help manage the practices of primary-care doctors in the Philadelphia area, has signed contracts with nearly 270 physicians, it will announce Tuesday. IBC and its 50-50 partner, Davita HealthCare Partners Inc., launched Philadelphia-based Tandigm in April as a provider of services to doctors to improve care and cut costs. Under the Tandigm model, IBC will turn over a percentage of health-insurance premiums to Tandigm, which will then assume responsibility for the cost and quality of all care for the patients seen by a founding group of physicians.
BUSINESS
July 10, 2014 | By Jane M. Von Bergen, Inquirer Staff Writer
Independence Blue Cross has partnered with Philadelphia University to augment its in-house innovation program. Employees of the health insurer can attend a four-week customized leadership program, "A Primer on Innovation," developed by Philadelphia University. The coursework, which leads to a certificate, can be applied to a master's degree at the university, the insurer said. So far, 1,000 IBC employees have participated in some aspect of innovation training and, as a result, developed Independence IQ, an educational game used to acquaint consumers with the federal Affordable Care Act.   jvonbergen@phillynews.com 215-854-2769 @JaneVonBergen www.inquirer.com/jobbing  
BUSINESS
June 11, 2014 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross' profits tumbled last year to their lowest level since the region's largest health insurer lost money in 2008 and 2009, according to IBC's annual report on its website. The Center City company reported net income of $142.6 million in 2013, down by a quarter from $191.5 million in 2012, despite a 5 percent increase in revenue, the annual report's bare-bones financial statement said. Total revenue was $11.05 billion, up from $10.48 billion, the company said.
BUSINESS
April 10, 2014 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross and DaVita HealthCare Partners Inc. on Tuesday announced a new company that would provide services to primary-care physicians in Southeastern Pennsylvania, in another of IBC's efforts to improve care and cut costs. Terms of the deal were not released. The goal of the 50-50 joint venture, called Tandigm Health and based in Philadelphia, is to sign up 300 doctors by the time it starts operating Jan. 1, said Anthony Coletta, an IBC executive who was named president and chief executive of Tandigm.
NEWS
April 6, 2014 | By Robert Calandra, For The Inquirer
There were plenty of nights during the last 33 years that Denise Schroeder of West Chester had to choose between eating dinner and paying for health insurance. And no, that is not an exaggeration. Schroeder is a cancer survivor, and for many of those years, a working, single mom who felt lucky just to have coverage. Schroeder, who owns Happy Heart Clown 'N Stuff, a party entertainment firm, always fed her daughter but skipped meals herself when money was tight to ensure she could pay the $700 monthly premium.
BUSINESS
February 8, 2014 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross announced CEO transition plans for its AmeriHealth Caritas subsidiary, which is one of the nation's biggest managers of Medicaid benefits. Paul A. Tufano, a top executive at IBC, will succeed Michael A. Rashid, 66, who is retiring after nearly 20 years at AmeriHealth, including the last four as chief executive. The change will be effective March 31. Tufano will remain chairman of AmeriHealth's board of directors, a position he has held since 2011. He will also remain president of IBC's government markets business and chairman of IBC's executive leadership team.
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