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Statement from Scott P. Serota, President and CEO Blue Cross and Blue Shield Association

WASHINGTON, June 16 /PRNewswire-USNewswire/ -- Scott P. Serota, president and chief executive officer of the Blue Cross and Blue Shield Association (BCBSA), released the following statement regarding today's Senate Finance Committee Summit, "Prepare for Launch: Health Reform Summit 2008." The bipartisan event, sponsored by Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Chuck Grassley (R-IA), featured several healthcare industry leaders, researchers and stakeholders, including Serota:

"It is unacceptable that 30 percent of healthcare spending goes toward care that is ineffective, redundant or inappropriate. Unless we tackle this problem head-on, we as a nation will not be able to afford extending coverage to the 47 million who lack health insurance and improve our healthcare system for everyone.

"We can achieve this Summit's vision - universal, affordable health coverage - but only if we change our healthcare delivery system to incent high-quality care and make coverage more affordable.

"Blue Cross and Blue Shield Plans bring a unique perspective to the discussion. Blue Plans have nearly 80 years of experience and we insure more than 100 million people, one of every 3 Americans. They provide coverage in every geographic area and every market - individual, small employer, large national accounts, and government programs. Importantly, Blue Plans have a strong foundation in every state and local community, with long-standing ties to local providers and the people they serve.

"Earlier this year, we released a comprehensive, five-part proposal - The Pathway to Covering America - designed to build on today's employer-based system to improve the quality and value of our healthcare system, while simultaneously extending coverage to all.

"The proposal builds on five key initiatives:

1. Encouraging Resea
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