Blue Cross Blue Shield Forms Innovation Hub

NEC member Blue Cross Blue Shield of Massachusetts has recently increased its efforts to promote innovation in the healthcare field. Through its investment arm, Zaffre Investments, the insurer has created an accelerator program to encourage and guide innovation.

Zaffre recently teamed up with startup connector Elevar to hold a contest for healthcare startups. 150 companies were asked to focus on one of three problems: engaging with baby boomers, engaging with millennials, and engaging with communities around health. The field was eventually narrowed down to three. Zaffre is currently finalizing a pilot program with one of the companies, focusing on engaging seniors and baby boomers. According to a recent article in the Boston Business Journal, this focus on startups helps Blue Cross Blue Shield have an early input in the innovation process and allows them to diversify their business.

“We realized that as we think about how the market is evolving, the opportunity for us to get closer to where innovation is happening in the market was going to be critically important, particularly as we thought about things like consumer engagement, and … how do we start to think differently about individual consumers that need support,” said Jason Robart, the president and CEO of Zaffre Investments.

The New England Council applauds Blue Cross Blue Shield for its work to ensure that healthcare is reaching all demographics effectively in our evolving world.

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