“For leaders in the space today, or those aspiring to be leaders in the future, a deep sense of intellectual curiosity is important,” Mr. Deavens told Becker’s. “Use that curiosity to gather information that allows you to make bold decisions, to think about the possibilities of how to change care or change outcomes that are really beneficial to those you serve.”
Mr. Deavens plans to retire at the end of 2025. He has led the Philadelphia-based company since 2021.
Independence Blue Cross has more than 8 million members. Mr. Deavens joined the company in 2017 as CFO after serving in roles at Cigna and MassMutual. During Mr. Deavens’ tenure, Independence Blue Cross’ annual revenue has grown by around 42%.
During his time as CEO, the company has focused on improving access to behavioral health and improving health equity, Mr. Deavens told Becker’s. Independence Blue Cross has increased the number of behavioral health providers in its network by around 47%, he said.
“All of this is really providing an ecosystem where our members have better access to care, broader access to care, and people that can meet the unique needs and preferences that members have,” he said. “We’ve seen an acceleration in the time that it takes to get an appointment and to see a clinician, which is critically important.”
Another key achievement from Mr. Deavens’ tenure is the formation of the Coalition to Eliminate Race Based Medicine. In 2023, Independence Blue Cross convened a dozen Philadelphia-area health systems with the goal of eliminating race adjustments from 15 commonly used health measures.
In 2024, the coalition said all its members had eliminated race-based adjustments in tools used in lung, kidney and OB-GYN care. As a result of eliminating race-based considerations for kidney function tests, more than 700 patients were moved up on transplant lists.
“Through the end of 2023, just short of 65 people had received a transplant who probably would not have had that opportunity, had we not taken this collective action as a community,” Mr. Deavens said. “That was something really important.”
Mr. Deavens will remain in the CEO role through the end of the year. In his final 10 months on the job, he said he is focused on finishing the work he started on closing gaps in care and putting data to use for members.
Independence Blue Cross will conduct a national search for his successor. The company has since appointed Rich Snyder, MD, to COO, and he will assist with the leadership transition.
His advice to ascending healthcare leaders: Do not be afraid to take lessons from other industries.
“I have found it useful to put myself in situations that give me exposure to leaders from other industries to talk about the biggest challenges they have experienced in the past and what are the big challenges they see on the horizon,” he said. “How are they thinking about dealing with those challenges within their respective organizations?”
Empathy is another key trait for CEOs, Mr. Deavens said, as are a sense of gratitude and optimism.
“There will always be challenges and difficulties in any kind of business, and you have to view those with a sense of optimism, and be grateful for partnerships you have, grateful for the people that work for you,” he said. “View everything as an opportunity.”
