Blue Shield of California Named Among the Best Managed Companies in the United States

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Nonprofit health plan earns gold level for maintaining winning status four consecutive years

OAKLAND, Calif., May 8, 2023 /PRNewswire/ -- Blue Shield of California has been selected as a 2023 US Best Managed Company Gold Standard honoree. Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of their management teams. Gold Standard winners are Best Managed Companies that have maintained their winning status for four years.

The 2023 designees are private companies that have demonstrated excellence in strategic planning and execution, a commitment to their people, fostering a dynamic culture, and strong financial management. Designees propelled their businesses forward and remained true to their purpose and values by investing in their people, creating advantage through digital transformation, taking measurable action on sustainability, and demonstrating their commitment to diversity, equity, and inclusion.

"Everyone at Blue Shield of California contributed to earning this recognition," said Mike Stuart, senior vice president and CFO at Blue Shield of California. "It is thanks to the dedication of Blue Shield's more than 7,500 employees that we were named a US Best Managed Company for four consecutive years. We're honored to be one of the 17 gold standard winners recognized this year."

Applicants are evaluated and selected by an independent panel of judges focused on assessing hallmarks of excellence in four key areas: strategy, ability to execute, corporate culture, and governance/financial management. The winners join honorees from more than 46 countries recognized by the Best Managed Companies program. 

Blue Shield of California was one of 56 winners, one of only 17 gold standard honorees, and one of four winners in the life sciences/health care category. To see the full list of 2023 honorees, click here.

About Blue Shield of California
Blue Shield of California strives to create a healthcare system worthy of its family and friends that is sustainably affordable. Blue Shield of California is a tax paying, nonprofit, independent member of the Blue Shield Association with more than 4.8 million members, over 7,500 employees and more than $24 billion in annual revenue. Founded in 1939 in San Francisco and now headquartered in Oakland, Blue Shield of California and its affiliates provide health, dental, vision, Medicaid and Medicare healthcare service plans in California. The company has contributed more than $97 million to Blue Shield of California Foundation in the last three years to have an impact on California communities.

For more news about Blue Shield of California, please visit news.blueshieldca.com.

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About the Best Managed Companies Program
The Best Managed Companies program is a mark of excellence for private companies. U.S. designees have revenues of at least $250 million. Hundreds of private companies around the world have competed for this designation in their respective countries through a rigorous and independent process that evaluates four key criteria in their management skills and practices — strategy, execution, culture and governance/financials. U.S. program sponsors are Deloitte Private and The Wall Street Journal. For more information, visit www.usbestmanagedcompanies.com. 

SOURCE Blue Shield of California