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Press Releases
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Press ReleaseIndependence Blue Cross Supports Regional Minority and Female-Owned BusinessesPhiladelphia, PA - July 20, 2006 - Independence Blue Cross surpassed its quarterly goal and awarded nearly $10.2 million in contracts for goods and services to 135 regional businesses owned by minorities and women as a result of its long-standing commitment to encouraging economic success in the Philadelphia region. This effort stems from the organization's strong belief in contributing to regional economic development by supporting supplier diversity. For the past 15 years, Independence Blue Cross (IBC) has demonstrated this commitment at the board level through its Minority Employment and Contracting Committee. The company's goal for 2006 is to execute $34.25 million in contracts with 200 regional businesses owned by minorities or women. "Supporting minority- and female-owned businesses not only helps us achieve our business goals, but also contributes to the economic development of our region," said IBC President and CEO Joseph A. Frick. "We are proud of our partnership with our women and minority contractors." IBC is one of few companies in the region to have a board-level commitment to supplier diversity. The Minority Employment and Contracting Committee meets three times a year to monitor the progress and assess the results of the company's supplier diversity program, and to ensure that each vendor supports diversity in its contracting practices. "What's important gets measured, and what's measured is important," said Robert Sorrell, vice chair of the IBC Board of Directors and chairman of the Minority Employment and Contracting Committee. "Our supplier diversity program reflects our values and what's important to us. By continually setting higher goals for ourselves, we not only obtain a broad range of high-quality products and services at the best value, but also actively support regional business development for minorities and women." By the end of 2005, IBC awarded nearly $34 million in contracts for goods and services to 180 regional business owned by minorities and women - a dramatic increase from the volume of minority- and women- owned vendor business in 1991, which was under $1 million with 24 companies. To feed its supplier diversity program, IBC holds regular networking events that allow current and potential contractors to meet IBC buyers. During these "meet and greet" sessions, local businesses have an opportunity to explain what they offer and learn how best to do business with IBC and its subsidiaries. The most recent networking event, an evening reception held on May 10, was attended by nearly 80 representatives from about 50 vendors, the members of IBC's Minority Employment and Contracting Committee, and IBC Purchasing staff. The reception wrapped up with an awards ceremony that recognized two minority- and female-owned businesses for best demonstrating excellence during their work with IBC. The two firms that received the "Vendor Excellence Award" are:
Independence Blue Cross is the leading health insurer in southeastern Pennsylvania. Nationwide, IBC and its affiliates provide coverage to nearly 3.4 million people. For more than 65 years, Independence Blue Cross has offered quality health care products and services tailored to meet the changing needs of members, employers, groups and providers. Independence Blue Cross recently received the highest ratings from the National Committee for Quality Assurance for its HMO and PPO health care plans. In addition, in 2005, Independence Blue Cross's Personal Choice was rated the No. 1 PPO in the nation and its Keystone HMO was ranked the No. 1 HMO in the region by health care consumers in a leading independent consumer magazine.
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