The $4.26 million severance was part of a total $11 million package the company paid its former leader. In addition, Blue Cross directors received up to $80,000 a year in compensation. However, a report by Attorney General Martha Coakley showed the directors were concerned about “financial losses, lack of focus on operational issues, decline in member satisfaction scores, staff morale and the amount of time spent on new initiatives,” according to the Boston Herald. The directors’ pay has since been suspended.
Mr. Killingsworth’s pay for his five years at the helm of Blue Cross was based on self-evaluations that contained essentially no critical comments, though the company started to lose millions of dollars.
Read the Boston Herald report on Blue Cross Blue Shield of Massachusetts.
Related Articles on Payors:
Blue Cross and Blue Shield of Nebraska Pays for Two Hospitals to Participate in Improvement Programs
MCCI to Open Four Primary Care Clinics in Florida for Humana Patients
BCBS Parent Doubles Profits Since 2009 as Premiums Increase
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
