Blue Cross Blue Shield of Missouri Marketing
Blue Cross Blue Shield of Missouri is an insurance company that serves the state of Missouri. The company serves residents in approximately 75% of the state's area, with services concentrate in the southeastern portion (Blue Cross Blue Shield of Missouri). RightCHOICE Managed Care Inc. (RIT) operates as Blue Cross Blue Shield of Missouri in Missouri, and is a licensee of the Blue Cross and Blue Shield Association. Blue Cross Blue Shield of Missouri has over 1.1 million medical members and acts as an operating subsidiary of WellPoint Health Networks Inc. (Kansas City InfoZine). WellPoint Health Networks Inc. is the second-largest publicly traded health care company in the United States (Kansas City InfoZine), and serves close to 45 million members (Hoovers Online).
In the past, the marketing of Blue Cross Blue Shield of Missouri has faced severe criticism. A Market Conduct Examination Report by Health Care Financing Administration notes that Blue Cross Blue Shield of Missouri "utilizes an overall marketing, policy issuance and application process hostile to Missouri residents attempting to exercise their rights as provided for in the Health Insurance Portability and Accountability Act of 1996" (Health Care Financing Administration). Specific criticisms of the marketing policies of Blue Cross Blue Shield of Missouri not that the company "Withholds access to information regarding guaranteed available policies from consumers attempting to access information through (Blue Cross Blue Shield of Missouri)'s marketing website" (Health Care Financing Administration). Specifically, the organization charges that BCBSMo does not inform consumers of the "availability of BasicBlue coverage" on its website. This violates Federal Regulations that specify policy forms must be "actively marketed to... both eligible and other individuals" (cited in Health Care Financing Administration). Ultimately, notes the report, eligible consumers are denied "complete and equal marketing information" (Health Care Financing Administration).
These specific charges were made in a larger climate of consumer distrust about the motivations of large corporations, including those of health care plan administration. As such, these charges have likely increased consumer distrust of Blue Cross Blue Shield of Missouri.
Today, the health care coverage industry is often marred by an image of large companies as uncaring monoliths that seek only to turn a profit, at the expense of individual consumers. This public perception has likely only been increased by recent scandals at companies like Enron and WorldCom, where management deliberately misled consumers and investors. While these companies were not within the health care industry, these scandals do mark a general mistrust about the motivations of large corporations.
Similarly, heath care providers like Blue Cross Blue Shield of Missouri must consider the public impact that reports of denial of coverage, and class action lawsuits can create. Denial of coverage can increase public perception that health care plan administration values profit over health. Similarly class-action lawsuits can damage a company's image.
Given these factors, one of the key marketing problems facing Blue Cross Blue Shield is that of creating a public perception of the company as an organization that values members' health and welfare above that of profit. Marketing efforts at Blue Cross Blue Shield of Missouri (and the industry at large) must work diligently to overcome public perception of the health care coverage industry as uncaring about individual consumers and concerned with money over people.
Internal and External Factors
Overall, the managed care industry seems to be reaching a peak of its current cycle. As such, current prices are currently at their maximum in a ten-year cycle, creating a potential loss of revenue in coming years (Morrison). It appears, however, that WellPoint Health Networks Inc. (the parent company of Blue Cross Blue Shield of Missouri) will be able to compete effectively against industry competitors such as United Health Group, Cigna, Aetna, and Anthem. Of these, WellPoint Health Networks has the second largest industry market capitalization ($15,340 million), exceeded only by United Health group ($39,106 million), and followed closely by Aetna ($12,696 million) and Anthem ($12,202 million) (Morrison). Morrison argues that WellPoint Health Networks Inc. will be able to improve its administrative cost ratio, thus effectively weathering the impact of the decreasing medical loss ratio (medical costs divided by premiums) that is expected to worsen through 2007. Specifically, Morrison notes "WellPoint navigated the last downturn better than most of its competitors did, and we expect it to do so again."
Overall, WellPoint Health Networks Inc. is in a solid financial position. Morrison rates the company as "among the best managed-care companies," based largely on "conservative...
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