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Maurice Smith is President and Chief Executive Officer (CEO) of Health Care Service Corporation (HCSC). A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. As competitors have pursued mergers and acquisitions, HCSC has mostly opted to invest in its existing markets and offerings. Bulking up has helped larger payers create economies of scale and expand capabilities as the health care landscape shifts. Ventas, Inc. (NYSE:VTR) ("Ventas" or the "Company") today announced that Maurice Smith, President and Chief Executive Officer of Health Care Service Corporation ("HCSC";), has been appointed as an . Smith's three-year term will begin September 1, 2021. 1-877-812-1590, Pritzker meeting with Walgreens after backing off on abortion pill, Walgreens wont sell abortion pills in 20 states after warning, Walgreens cuts its stake in Option Care Health, Sponsored Content: Luxury Home of the Week, The Most Powerful Women In Chicago Business. Revenues last year totaled $38.6 billion, The harshest mayor's race in years is being fueled by unions and Citadel donors, Developers unveil plans to turn LaSalle Street offices into apartments, Fertilizer giant slashes HQ space with move to Northbrook, The inside story of how Chicago won the $250M Chan Zuckerberg Initiative biotech research lab. Blue Cross and Blue Shield of Montana is a division of HCSC, a . HCSC is the fifth-largest health insurer in the US overall and employs more than 23,000 people. Maurice Smith is President and Chief Executive Officer of HCSC. HCSC is the largest customer-owned health insurer in the United States, covering over 16 million members across its Blue Cross and Blue Shield health plans in . President and Chief Executive Officer at HCSC - View - HCSC org chart. CHICAGO Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020. Maurice Smith. 21. 11% of HCSC employees are Black or African American. Maurice brings a broad perspective and deep understanding of the industry having held many senior financial management roles, including head of corporate transactions and investment strategies. some sites may require you to agree to their terms of use and privacy policy. I am honored to lead HCSC, a company that for more than 90 years has focused on innovation, execution and through the dedication of our nearly 24,000 employees helped expand access to quality, cost-effective health care to all Americans, said Maurice Smith. CHICAGO - Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020.At that time, David Lesar, will step down as the company's interim CEO; he will remain a member of the Board of Directors. All Rights Reserved. how to become a school board member in florida ocean deck band schedule "Maurice has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront, and the opportunities we have now to advance our purpose. You are leaving this website/app ("site"). At that time, David Lesar, will step down as the companys interim CEO; he will remain a member of the Board of Directors. Other big insurers, meanwhile, have engineered multibillion-dollar transactions that obliterate traditional boundaries between insurers, pharmacies and doctors. Smith was named CEO of HCSC in 2020, when he was also recognized as one of Modern Healthcare's 100 Most Influential People in Healthcare. 130 E. Randolph St. The Hawks failed to score in the last 59 minutes Saturday and suffered their fourth consecutive loss. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Smith wasn't made available for an interview. You are leaving this website/app ("site"). Lesar will remain a member of the company's board. He brings a broad perspective and deep understand ing of the industry to his role from his 28 years of service with the company. Revenues last year totaled $38.6 billion, making it the country's sixth-largest health . "As a leader in healthcare, Maurice brings significant experience and insight to the Ventas Board," said Debra A. Cafaro, Ventas Chairman and . Roosevelt University is a national leader in educating socially conscious citizens for active and dedicated lives as leaders in their professions and their communities. Copyright document.write(new Date().getFullYear()) Health Care Service Corporation. Smith holds a bachelor's degree in business administration from Roosevelt University and an MBA from Pepperdine University. "On behalf of the entire Board of Directors, I am pleased that . Insiders at Health Care Service say Smith is very community-oriented and that will serve the companys health plans well as the industry moves to address social determinants of health. Health Care Service is the parent of Blue Cross and Blue Shield plans in Illinois, Texas, Oklahoma, New Mexico and Montana. Maurice Smith . Maurice previously was President of Blue Cross and Blue Shield of Illinois, the state's largest health insurance . He holds an MBA from Pepperdine University and a bachelors degree in business administration from Roosevelt University. Maurice Smith signed a 1 year, $850,000 contract with the Tennessee Titans, including an average annual salary of $850,000. To view this file, you may need to install a PDF reader program. Get Hcsc company's verified contact number +1*****725, web address, revenue, total contacts 528, industry Healthcare, Pharmaceuticals, & Biotech and location at Adapt.io Insurers are under pressure from employer groups, the government and the market "to go out there and do something different.". And Anthem this year launched its own pharmacy benefit manager, IngenioRx. Between 2009 and 2013, HCSC's five-year average of return on capital was 10.5%. HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. The independently released project covers an Al Green classic entitled, "Simply Beautiful", which Maurice manages to add his own unique flavor to; thus, opening a whole new generation to the already timeless song. It's clear, Pliss adds, that HCSC's focus has been, "What's valuable for our members today, rather than what's going to be valuable for the market three years from now?". Humana, for its part, has opened clinicssome inside Walgreens storeswhile doubling down on Medicare Advantage business. Health Care Service Corporation is a Mutual Legal Reserve Company and an Independent Licensee of the Blue Cross and Blue Shield Association. Click below to see everything we have to offer. Copyright Health Care Service Corporation. Maurice also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. HCSC offers group life, disability, and dental policies, as well as a range of other individual policies. May 05, 2020, 14:02 ET. Maurice brings a broad perspective and deep understanding of the industry having held many senior financial management roles, including head of corporate transactions and investment strategies. CHICAGO - Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020.At that time, David Lesar, will step down as the company's interim CEO; he will remain a member of the Board of Directors. Under pressure to reduce health care costs and improve outcomes for members, HCSC's rivals have found creative ways to get closer to patients. Health Care Service Corporation is the countrys largest customer-owned health insurer, with nearly 16 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. Health Care Service Corporation is the licensee of the Blue Cross and Blue Shield Association for five states. Maurice Smith, who is 48 years old, will become chief executive officer and president of Health Care Service effective June 1 when he will replace interim CEO David Lesar who will remain a member of the companys board of directors, the insurer said Tuesday. It concentrates its operations in Illinois, Montana, New Mexico, Oklahoma, and Texas. Health Care Service is a mutual insurer owned by policyholders. Health Care Service Corporation is the countrys largest customer-owned health insurer and fifth largest health insurer overall, with nearly 16 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. Here's why this giant health insurer is looking for a new CEO. [3], Learn how and when to remove this template message, "10 biggest health plans by number of members", "Fitch Affirms Health Care Service Corporation's Ratings", "Health Care Service Corp., parent company of Blue Cross Blue Shield of Illinois, is eliminating 400 jobs", "Health Care Service Corp. sheds hundreds of workers", "HCSC launches new employee education program: Blue University", "Blue Cross parent boosts profit in second quarter", https://en.wikipedia.org/w/index.php?title=Health_Care_Service_Corporation&oldid=1136121535, Maurice Smith, CEO; Milton Carroll, Chairman; Maurice Smith, President of HCSC, This page was last edited on 28 January 2023, at 21:12. "Maurice has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront, and the opportunities we have now to advance our purpose. Board members had grown frustrated with Steiner's relatively cautious expansion strategy amid rapid industry consolidation. CHICAGO - Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020.At that time, David Lesar, will step down as the company's interim CEO; he will remain a member of the Board of Directors. Maurice Smith is currently. Their struggles were hardly surprising, given the substantial changes in the roster coach Luke Richardson is working with. Health insurers in the short term are profiting from an unexpected reprieve in paying claims tied to elective surgeries, which for weeks have been postponed to cope with the crisis. The health care industry is facing a transition from fee-for-service to paying for value, Crains reported. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Data Fraud Is Focus To Bolster Chinas Lackluster Carbon Market, China Gives New Backing to Coal Even as Clean Energy Accelerates, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Health Care Service Corporation President and CEO at Health Care Service Corporation (HCSC) Maurice Smith Bio. In an internal memo about the layoffs, HCSC President Maurice Smith told employees, We made a number of changes to ensure we have the structure and resources to best serve our members now and into the future, Crains reported. I am delighted to welcome him as chair," said Ali Malekzadeh, Roosevelt University president. President, HCSC. Roosevelt University alum Maurice Smith, President and Chief Executive Officer of Health Care Service Corporation (HCSC), has been named chair of the Roosevelt University Board of Trustees. Maurice previously was President of HCSC's Illinois Plan, the state's largest health insurance company. Meanwhile, Cigna bought pharmacy benefit manager Express Scripts for $67 billion last year. Maurice Smith, who [3], In 2010 HCSC nearly doubled its income to $1.09 billion, and began "a streak of billion-dollar profits for 4 straight years". Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, President/CEO, Health Care Service Corporation.
