The US Best Managed Companies program, sponsored by Deloitte Private and The Wall Street Journal, just released its 2021 honorees. This designation is a mark of distinction for private companies with annual revenues of at least $250 million and demonstrated excellence in four key areas: strategy, execution, culture and financials.
When the results came out in early April, 2021, Blue Shield of California was named one of the Best Managed Companies in America – for the second year in a row. The nonprofit health plan rose to the top among private company applicants across the country in a rigorous and independent process that evaluates their management skills and practices.
“Excellence, dedication, and a great sense of purpose are key traits a company must possess to be named a U.S. Best Managed Company,” said Kirsten Rhodes, San Francisco Managing Principal at Deloitte. “Despite a really challenging year, these companies - and especially Blue Shield of California - transformed the way we do business across many critical sectors. Their commitment to innovation should be a leading example to their peers, and it is my pleasure to congratulate all of the 2021 program honorees.”
In March, a panel of independent judges reviewed applications and selected this year’s honorees based on their strengths across four core criteria and their ability to excel amid change. Blue Shield of California was selected as one of 49 honorees on the US Best Managed Companies list this year, out of more than 500 applicants. Blue Shield is one of only five California-based companies to make the list this year, and one of only three health plans that received this recognition. The entire list of 2021 honorees can be found here
“Standing up for your values is not just something you say, it requires action,” said Blue Shield of California’s senior vice president and chief financial officer Sandra Clarke. “Over the last year, we lived our values by providing a resilient and supportive culture for our employees, financial support for our members and providers, and public health leadership for all Californians – all while facing the uncertainty of COVID-19.”
More detail about Blue Shield’s commitment to operating responsibly can be found in this article, published as part of the company’s 2020 Mission Report.
“Everyone at Blue Shield contributed to us earning this recognition,” Clarke added. “It is thanks to the dedication of Blue Shield’s 7,500 employees and leaders at every level that we were named a US Best Managed Company for the second year in a row, and we’re honored to be among the outstanding organizations recognized this year.”