Blue Shield of California has officially named Mike Stuart as president and CEO, the insurer announced Tuesday.
Stuart has held the role on a interim basis since CEO Lois Quam departed the company in March. Prior to taking the chair, Stuart served as Blue Shield's chief financial officer beginning in 2022.
As CFO, Stuart played a key role in guiding the organization though a complex time in healthcare and as it launched industry-first programs to tackle affordability and access, including Pharmacy Care Reimagined, where Blue Shield moved from a traditional pharmacy benefit management arrangement to a more unbundled approach.
"I think one thing we're really fortunate of here at Blue Shield of California is we've had a constant North Star for many years," Stuart told Fierce Healthcare in an interview. "And it's a pretty powerful statement, which is we're here to create a healthcare system that's worthy of our family and friends and sustainably affordable."
Stuart said his role as CEO is to "carry the torch" for that mission and drive the work forward.
Prior to joining Blue Shield, Stuart spent two decades in leadership roles in healthcare, including 11 years at the Daughters of Charity Health System, according to an announcement from the insurer.
Given that experience, Stuart said he's very optimistic about new provider partnerships designed to be member- and patient-centric. He said it is critical for health plans to step forward and make clear that they want to play a role in finding solutions to fix healthcare's problems, including affordability.
"In terms of solving this affordability crisis that we're facing as a country right now, it's just a firm belief that we're going to do this together—health plans and providers with like-minded, willing partners," Stuart said.
He said that steps like Pharmacy Care Reimagined are clear commitments to that North Star of making the healthcare system more affordable and working better for everyone and that Blue Shield will continue to embrace innovation in that vein moving forward.
The insurer is also committed to putting digital first in its broader strategy, he said. That focus is based on feedback from members about what they want from their health plan and how Blue can "make sure that in the moments that matter most, that we're there for our members."
"Healthcare is complex, and it's not going to get simple overnight, but there is a lot we can do together with providers to get the member and patients out of the complexity," Stuart said.
In the announcement, Kristina Leslie, chair of the Blue Shield of California board of directors, said Stuart is "the right leader at the right time for Blue Shield of California."
“Our industry is facing extraordinary challenges—from rising costs to regulatory shifts and increasing demands for equity and access,” Leslie said in the release. “In this environment, we need a leader who not only understands the complexity of the healthcare system but also has the conviction and capability to drive real, sustainable change. Mike brings exactly that.”