Richard L. Boals, Blue Cross Blue Shield of Arizona

The Business of Healthcare

from Richard L. Boals

Federal policy changes to the healthcare industry are presenting difficult and confusing scenarios for businesses of all sizes. Many business leaders I talk to say they are having a hard time understanding what will be expected of them, how to budget for healthcare expenditures and what elements of the recent Federal policy changes will actually be implemented or mandated.

As a veteran of the healthcare industry with more than 40 years of experience, I can attest to the fact that we’re currently undergoing unprecedented change. This, in turn, is dictating transformations for American businesses. In light of healthcare reform, business leaders are now focused on answering two questions: “What does this mean for me and my company?” and “What can we do now to prepare?”

These questions remain unanswered, as new regulations continue to be issued and healthcare insurers, providers and manufacturers make necessary adjustments. Moving forward, education will be the key — for both consumers and corporate decision-makers.

It’s no secret the face of healthcare as we have known it will change. Gremlyn Bradley-Waddell’s cover story addresses most recent law, the court cases interpreting the law and the eventual effect on business. In speaking with doctors, healthcare professionals, insurance professionals, hospital administrators and government officials, she uncovers the realities each is facing and looks at the impact changes will have on business. While the laws are in flux, the healthcare sector is bracing for everything from new healthcare products for employers to innovative solutions to ensuring strong healthcare services and standards.

A long-time adage is that businesses with the best people do well. RaeAnne Marsh explores various hiring practices and expertise on the part of HR professionals to ensure companies are “on-boarding” the right people for their organization. She also takes a look at the consequences (and costs) of hiring the wrong people and the importance of getting it right the first time.

This issue also looks at the concept of maximizing shareholder value; something that few would dispute is a chief directive of many corporations. Dan Adams, president of Advanced Industrial Marketing, Inc., contends in his article that it takes much more than allegiance to this mantra to actually motivate employees to action. Instead, an increase to maximizing customer value is more tangible, actionable and measurable, and beneficial to the bottom line.

In this month’s “Trickle Up” column, Alison Stanton introduces us to LifeLock founder Todd Davis. His innovative way of doing business from his early beginnings is a great lesson for any entrepreneur looking to take an idea and make it globally successful. His unique marketing strategies and focus on quality service are key to his success.

I know that you will be quite informed with this issue of In Business Magazine. The editorial staff at In Business Magazine works hard to heighten business within our community and enlighten readers as to what it takes to grow our economy. Please enjoy.

Sincerely,

Richard L. Boals
President & CEO
Blue Cross Blue Shield of Arizona

As president and CEO of Blue Cross Blue Shield of Arizona, Richard L. Boals provides his strategic vision and expertise to the state’s leading health insurer. Boals joined BCBSAZ in 1971 and has seen the company through numerous years of stability and success. Prior to his appointment to chief executive officer in April 2003, Boals served as president and chief operating officer. Boals is active in the community, and chooses to be aligned with organizations that focus on youth and education; health, wellness and human services; economic and civic development; and arts and culture.


Speak Your Mind

In Business Dailies

Sign up for a complimentary year of In Business Dailies with a bonus Digital Subscription of In Business Magazine delivered to your inbox each month!

  • Get the day’s Top Stories
  • Relevant In-depth Articles
  • Daily Offers
  • Coming Events