Blue Cross Blue Shield of Michigan acquired sole ownership of NASCO, a healthcare technology company formerly owned by six Blue Cross Blue Shield affiliates.
The payer, a former partial owner of the company since it was formed in 1987, has relied on NASCO's platform for processing claims for commercial members, as well as services like enrollment and customer advocacy, according to the Nov. 30 announcement.
The ownership aims to further the payer's business strategy and invest in NASCO's core product offerings.
"BCBSM has had a decades-long business partnership with NASCO, and this is a natural progression to further innovate and add scale," said Bill Fandrich, Blue Cross Blue Shield of Michigan senior vice president and CIO. "We are excited about this stronger partnership with NASCO."
NASCO offers 10 services to over 22 million Blue Cross Blue Shield members across the country.