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Maurice Smith. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. All Rights Reserved. Maurice Smith signed a 1 year, $850,000 contract with the Tennessee Titans, including an average annual salary of $850,000. Meanwhile, last year was a banner year for HCSC. CHICAGO, May 5, 2020 /PRNewswire/ -- Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief . Reconciles incoming API dashboards, ensuring data is current and accurate. 2023, Roosevelt University, All Rights Reserved. He brings a broad perspective and deep understand ing of the industry to his role from his 28 years of service with the company. Results are expected to moderate somewhat during the second half of 2018 as policyholders exhaust their deductibles and HCSC pays a greater percentage of claims. The site may also contain non-Medicare related information. In addition, some sites may require you to agree to their terms of use and privacy policy. He succeeds Board of Trustees chair Patricia Harris, former chief global diversity officer of McDonald's Corporation. One option is Adobe Reader which has a built-in screen reader. Health Care Service Corporation (HCSC), the nation's largest customer-owned health insurer, today announced the departure of President and CEO Paula Steiner, who led the organization since 2016. At that time, David Lesar, will step down as the company's interim CEO; he will remain a member of the Board of Directors. Health Care Service Corporation (HCSC) is a member-owned health insurance company in the United States. Lesar said he is "pleased that Maurice will lead HCSC at this critical time for . Maurice previously was President of HCSC's Illinois Plan, the states largest health insurance company. Throughout his nearly 28 years of service with HCSC, Smith also previously served as president of its Illinois health plan, where he was responsible for the overall financial performance, long-term growth strategy and strategic planning of Illinois' largest health insurance company. The company's next largest state in terms of premiums is Oklahoma, accounting for approximately 9% of premium. File is in portable document format (PDF). I write about healthcare business and policy, Park in Chicago, Illinois on June 24, 2017. Copyright Health Care Service Corporation. http://access.adobe.com. But, over the next few years, covering the cost of care for those who continue to fall sick while the country works toward a vaccine and more effective therapies will be added to the surgeries and routine care that now are slowly returning. The site may also contain non-Medicare related information. Behavioral health could be another opportunity for the insurer, he adds. Blue Cross of Illinois parent company, Health Care Service Corp., announced Tuesday it will slash about 400 positions to ready itself for fast industry growth, according to reports. 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?". Chicago, IL 60601 He is a member of the Board of the Economic Club of . Find Maurice Smith's accurate email address and contact/phone number in Adapt.io. Blue Cross parent HCSC CEO left in dispute over strategy | Crain's Health Care Service Corp. cuts workers | Modern Healthcare Maurice Smith . Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. Under pressure to reduce health care costs and improve outcomes for members, HCSC's rivals have found creative ways to get closer to patients. Still, HCSC directors worried the company wasn't building the heft and capabilities to keep pace with larger competitors and marketplace changes. Now it needs a new CEO pronto. To view this file, you may need to install a PDF reader program. 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. Opinions expressed by Forbes Contributors are their own. Most PDF readers are a free download. Between 2009 and 2013, HCSC's five-year average of return on capital was 10.5%. S Maurice Smith earned $918,091 in his NFL career. 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. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. HCSC declined to make someone available for an interview. Blue Cross and Blue Shield of New Mexico Parent HCSC Names Maurice To view this file, you may need to install a PDF reader program. Maurice Smith is President and Chief Executive Officer of HCSC. You are leaving this website/app ("site"). The health care industry is facing a transition from fee-for-service to paying for value, Crains reported. Maurice previously was President of HCSC's Illinois Plan, the state's largest health insurance company. The company operates the Blue . Acquiring additional health plans requires an enterprise data strategy HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. As CEO, Smith is responsible for the overall strategic direction of the company, including the organization's long-term growth strategy. Health Care Service Corp. has named a new chief executive with a three-decade history working for the company to lead the parent of Blue Cross and Blue Shield plans in five states. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Maurice Smith named CEO of Blue Cross owner - Chicago Sun-Times Musk Made a Mess at Twitter. To view this file, you may need to install a PDF reader program. Moving forward, HCSC will likely seek growth in Medicaid and Medicare Advantage, Akers says. Since that time, he worked in many functions at HCSC assuming increased responsibility, excelling in each position and demonstrating solid strategic leadership. Maurice Smith | Health Care Service Corporation - HCSC Suite 3200 Chairperson: Maurice Smith - Prime Therapeutics LLC Crains Chicago Business reported that the layoffs come a month after HCSC got rid of a few dozen middle management jobs and six months after CEO Paula Steiner left the company. Thompson said the company doesnt plan any additional job cuts. Jan 2021 - Present2 years 3 months. Companies are positioning themselves to become not only insurers but providers of services by building more efficient delivery systems that they can control, Pliss says. Smith, 48, will succeed David Lesar, who was the interim CEO. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. This documentary-style series follows investigative journalists as they uncover the truth. maurice smith hcsc wife - georgenr.com President and CEO at Health Care Service Corporation (HCSC) Maurice Smith Bio. Smith began his career at HCSC in 1993 and has served in a wide variety of roles, including business development, corporate transactions and as President of Blue Cross and Blue Shield of Illinois. The . But getting bigger quickly, likely through acquisitions, may be the top item on the new CEO's agenda. [3], In 2010 HCSC nearly doubled its income to $1.09 billion, and began "a streak of billion-dollar profits for 4 straight years". CHICAGOVentas, Inc., (NYSE: VTR) announced that Maurice Smith, president and CEO of Health Care Service Corporation (HCSC), has been appointed as an independent member of its board of directors effective immediately. Health Care Service Corporation - Overview, News - ZoomInfo Ventas appoints Maurice Smith, CEO of HCSC, to board of directors greg_thompson@hcsc.net, A Division of Health Care Service Corporation, a Mutual Legal Reserve Company, an Independent Licensee of the Blue Cross and Blue Shield Association. Currently working as President, Blue Cross and Blue Shield-Illinois at Hcsc in Illinois, United States. The Board and I look forward to working with him and the rest of the HCSC team to ensure a continued success in simplifying the health care experience and helping people achieve their health care goals.. Prasad will report to Maurice Smith, president and chief executive officer of HCSC, and will lead the organization's strategic efforts including long-term planning, business and corporate . Chicago, IL 60601 Maurice Smith - Federal Reserve Bank of Chicago President Emeritus Theodore "Ted" Gross (1988-2002) passed away at his home in Evanston, Illinois, on August 16, 2022. 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, Smith said in a statement. 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. [2], HCSC's membership was approximately 16 million as of December 31, 2019. As the largest customer-owned health insurance company in the U.S., HCSC serves over 17.6 million members, generates over $54 billion of annual revenue, and manages over $110 billion of medical spend annually. As president, Maurice Smith is responsible for overall strategic direction of the company including the organizations long-term growth strategy. Maurice joined HCSC nearly 27 years ago as an intern. Lesar will remain a member of the company's board. Throughout his nearly 27 years of service with HCSC, he also has previously served as president of Blue Cross and Blue Shield of Illinois . HCSC Community Support Strategy Increases Focus on Social Barriers to Health CHICAGO, Jan. 10, 2023 /PRNewswire/ -- Health Care Service Corporation (HCSC) is realigning its community investments in 2023 into five newly redesigned strategic pillars to better support its umbrella mission of expanding access to care. Health Care Service Corporation is the licensee of the Blue Cross and Blue Shield Association for five states. Here's why this giant health insurer is looking for a new CEO. 21. Jul. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. 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. Former Blue Cross of Illinois CEO Maurice Smith is taking over as boss atthe state's largest health insurer's parent, Health Care Services Corp., the company announced today. He previously served as president of Blue Cross and Blue Shield of Illinois where he was responsible for the overall financial performance, long-term growth strategy . Most PDF readers are a free download. 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. "On behalf of the entire Board of Directors, I am pleased that Maurice will lead HCSC at this critical time for the company and our country as we continue to work through the challenges of the COVID-19 pandemic," said David Lesar. Blue Cross and Blue Shield of Texas Parent HCSC Names Maurice Smith New Blue Cross and Blue Shield of Montana Parent HCSC Names Maurice Smith . The board and I look forward to working with him and the rest of the HCSC team to ensure a continued success in simplifying the health care experience and helping people achieve their health care goals., Health Care Service Corp. CEO Maurice Smith. CHICAGO, May 5, 2020 /PRNewswire/ -- Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and . Maurice Smith is President and Chief Executive Officer (CEO) of Health Care Service Corporation (HCSC). (Photo By Raymond Boyd/Getty Images). A potential contender for the permanent role is newly named HCSC President Maurice Smith, who has been with the . May 05, 2020, 14:02 ET. 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. Company Description: Founded in 1936, Health Care Service Corporation (HCSC) is an independent licensee of the Blue Cross and Blue Shield Association, is the largest customer-owned health insurer in the United States, which operates its Blue Cross and Blue Shield Plans in Illinois, . We will continue to take action to focus and execute on a strategy that will propel this exciting and innovative company into the next phase of its evolution, while providing long-term value to customers, medical and other health care providers, employees and other partners in the dynamic health care industry.
