Health Care Service is the nations fifth-largest health insurer with nearly 16 million health plan members. The site may also contain non-Medicare related information. HCSC, which owns Blue Cross & Blue Shield plans in Illinois and four other states, has stayed out of the large-scale dealmaking that's reshaping health care in the U.S. HCSC offers group life, disability, and dental policies, as well as a range of other individual policies. CHICAGO Blue Cross and Shield of Illinois (BCBSIL), a division of Health Care Service Corporation (HCSC), today announced Stephen Harris has been named the new Illinois president.Stephen will succeed Steve Hamman, who has left the company to pursue new endeavors. It's the dominant insurer in Illinois, Montana and Oklahomaand it's a close No. President Emeritus Theodore "Ted" Gross (1988-2002) passed away at his home in Evanston, Illinois, on August 16, 2022. Acquiring additional health plans requires an enterprise data strategy All Rights Reserved. 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. Maurice Smith is currently. 2 in New Mexico and Texas, according to data compiled by the Kaiser Family Foundation. Smith wasn't made available for an interview. See Maurice S Smith's compensation, career history, education, & memberships. "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. 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. Steiner and Feldstein could not be reached for comment. The average employee at HCSC makes $58,172 per year. 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. Chicago, Illinois, United States. Chicago-based REIT Ventas, Inc. announced that Maurice Smith, president and chief executive officer of Health Care Service Corporation (HCSC), has been appointed . I write about healthcare business and policy, Park in Chicago, Illinois on June 24, 2017. Meanwhile, Cigna bought pharmacy benefit manager Express Scripts for $67 billion last year. 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. The Hawks failed to score in the last 59 minutes Saturday and suffered their fourth consecutive loss. This new site may be offered by a vendor or an independent third party. Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. It concentrates its operations in Illinois, Montana, New Mexico, Oklahoma, and Texas. Copyright document.write(new Date().getFullYear()) Health Care Service Corporation. Click below to see everything we have to offer. As president, Maurice Smith is responsible for overall strategic direction of the company including the organizations long-term growth strategy. Maurice Smith is President and Chief Executive Officer of HCSC. 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 . 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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. The nation's biggest health insurance company paid $13 billion for pharmacy benefit manager Catamaran in 2015 and spent additional billions acquiring physicians groups, including the $4.3 billion purchase of DaVita Medical Group in June. Connect with intelligence [object Module] Products Web Platform Chrome Plugin API. 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. 2023, Roosevelt University, All Rights Reserved. Maurice also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. To view this file, you may need to install a PDF reader program. 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. best army base in germany is dr abraham wagner married is dr abraham wagner married President and Chief Executive Officer. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. HCSC was formerly known as Hospital Service Corporation and changed its name to Health Care Service Corporation in 1975. The company's next largest state in terms of premiums is Oklahoma, accounting for approximately 9% of premium. Smith most recently was president of Blue Cross and Blue Shield of Illinois, the largest of HCSCs health plans, where he was responsible for the overall strategic direction for Illinois health plan including the organization's long-term growth strategy, planning and performance.. Health Care Service Corporation, a Mutual Legal Reserve Company. Improving the attack has been a focus for the Fire, who compiled 12 shutouts last year but missed the playoffs. "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," Lesar said in the same statement. HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. Greg Thompson To view this file, you may need to install a PDF reader program. As of 2019, it was noted to be the third-largest commercial health insurer in the United States [1] It serves nearly 16 million members. Maurice previously was President of HCSC's Illinois Plan, the state's largest health insurance company. Finch stated that "lack of geographic diversification has historically kept HCSC out of the 'AA' rating category and that HCSC would be downgraded if it were no longer to market itself as a Blues plan. "Stephen has been instrumental in the company's ambitious growth strategy and . The company also provides various care management and wellness resources. He brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. The company operates the Blue . Most PDF readers are a free download. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. 130 E. Randolph St. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Other Adobe accessibility tools and information can be downloaded at http://access.adobe.com. Health Care Services Corp. CEO Maurice Smith. A boardroom dispute over strategy leaves Health Care Service Corp. in limboat a time of convulsive change in health care. In each incident, the suspect forced his way inside restaurants, sometimes shattering glass, taking items and fleeing on foot, police said. HCSC board member and former energy executive David Lesar is serving as interim CEO. Since that time, he worked in many functions at HCSC assuming increased responsibility, excelling in each position and demonstrating solid strategic leadership. Aetna, for example, combined with CVS Health 18 months ago to combine leading insurance and pharmacy offerings. 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. 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. The health care industry is facing a transition from fee-for-service to paying for value, Crains reported. Yet in 2015, Fitch Ratings assessed its financial strength still at 'A+' and gave it an 'A' for likelihood of default and senior unsecured rating. E-mail oureditor About Blue Cross Blue Shield of Texas With 16 million members, HCSC's revenue increased 10 percent to $35.9 billion last year. how to become a school board member in florida ocean deck band schedule There has been some speculation that it could become a part of Anthem, an investor-owned publicly traded operator of Blue Cross and Blue Shield plans in 14 states. . some sites may require you to agree to their terms of use and privacy policy. E-mail oureditor Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. He is a member of the Board of the Economic Club of . Copyright Health Care Service Corporation. "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. 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. Smith's elevation wasn't a surprise. Click below to see everything we have to offer. This new site may be offered by a vendor or an independent third party. He has held many senior financial management roles at HCSC, including head of corporate transactions and investment strategies. 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.. 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. Jan 2021 - Present2 years 3 months. Opinions expressed by Forbes Contributors are their own. [6] Blue University will focus on a number of topics such as healthcare management, leadership, marketing and sales, technology, and service delivery to name a few. You are leaving this website/app ("site"). Blue Cross and Blue Shield of Texas is a division of HCSC, a Mutual . Fertilizer giant slashes HQ space with move to Northbrook, Big Streeterville retail complex hits the market, Pritzker vows to keep Ken Griffin's pick for president out of the White House, ABC 7 promotes two anchors to replace Alan Krashesky. During 2014 HCSC profits decreased "from medical losses and expenses associated with the company's aggressive addition of members sourced from ACA exchanges". The middle management roles will be eliminated to reduce organizational redundancy and improve decision-making efficiency, according to HCSC spokesman Greg Thompson in an email to the Chicago Sun-Times. Health Care Service Corporation Contract Terms: 1 yr(s) / $850,000 Signing Bonus - Maurice Smith. Under Steiner, the $36 billion-revenue company has focused on its local markets and financial performance. Other Adobe accessibility tools and information can be downloaded at "Maurice is an accomplished leader with a long track record of innovation. Others named Maurice Smith. All Rights Reserved. Reconciles incoming API dashboards, ensuring data is current and accurate. Since then, he has held a number of executive roles with increasing responsibility, including senior vice president, Business Development and Subsidiary Management, divisional vice president, Business Development and Subsidiary Management, and vice president of Corporate Transactions and Business Analysis. 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. The insurer says it expects 16 percent growth in the lucrative, fast-growing segment this year. "This is a good example of proactive corporate governance and, frankly, you don't see that every day.". Behavioral health could be another opportunity for the insurer, he adds. Get Hcsc company's verified contact number +1*****725, web address, revenue, total contacts 528, industry Healthcare, Pharmaceuticals, & Biotech and location at Adapt.io One option is Adobe Reader which has a built-in screen reader. Health Care Service Corporation is the licensee of the Blue Cross and Blue Shield Association for five states. I am delighted to welcome him as chair," said Ali Malekzadeh, Roosevelt University president. Now it needs a new CEO pronto. Currently working as President, Blue Cross and Blue Shield-Illinois at Hcsc in Illinois, United States. Maurice Smith, who took the helm last June, got a 63 percent boost to $5.9 million, while longtime board Chairman Milton Carroll's pay jumped 81 percent to $8.9 million. 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. 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 and strategic planning of Illinois largest health insurance company, serving more than 8 million members. HCSC declined to make someone available for an interview. How the coronavirus pandemic changes that equation, however, is challenging to predict. Blue Cross and Blue Shield of Oklahoma is a division of HCSC, a . Still, HCSC directors worried the company wasn't building the heft and capabilities to keep pace with larger competitors and marketplace changes. As president and CEO, Maurice Smith is responsible for overall strategic direction of the company including the organization's long-term growth strategy. Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. 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 . houseboat netherlands / brigada pagbasa 2021 memo region 5 / maurice smith hcsc wife. "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. Here's why this giant health insurer is looking for a new CEO. But getting bigger quickly, likely through acquisitions, may be the top item on the new CEO's agenda. Musk Made a Mess at Twitter. Smith holds a bachelor's degree in business administration from Roosevelt University and an MBA from Pepperdine University. 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. Smith, 48, who has been with HCSC for nearly 27 years and joined as an intern, will become HCSC CEO effective June 1. S Maurice Smith earned $918,091 in his NFL career. Manages and triages . Revenues last year totaled $38.6 billion, making it the country's sixth-largest health insurer. Health Care Service Corp. (HCSC) on May 5 named Maurice Smith its new president and CEO, effective June 1. 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. 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 . Jim Connor, chairman and CEO of Duke Realty Corporation, was elected to serve as Board of Trustees vice chair. HCSC is the parent of Blue Cross plans in Texas, Oklahoma, New Mexico and Montana, in addition to Illinois. President and CEO at Health Care Service Corporation (HCSC) Maurice Smith Bio. [3], In January 2020, HCSC announced that it was cutting about 400 employees, most of them in middle management, in order to reduce organizational redundancy and improve decision making efficiency.[4][5]. Roosevelt University is a national leader in educating socially conscious citizens for active and dedicated lives as leaders in their professions and their communities. The two, which intend to transform health care delivery, are in the process of launching a network to provide more vulnerable beneficiaries with access to local resources to address social factors that affect health. 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. "I look forward to working closely with the university's committed leadership, faculty, staff, and students to build on Roosevelt's history of advancing the social justice mission through education and knowledge.". In addition, 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. Maurice joined HCSC nearly 27 years ago as an intern. Health Care Service Corporation (HCSC) is a member-owned health insurance company in the United States. "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"). Staying current is easy with Crain's news delivered straight to your inbox, free of charge. "I also want to thank outgoing chair Patricia Harris for her dedication to strengthening our institution, especially through the pandemic.". Maurice S Smith is President/CEO at Health Care Service Corporation. In this role, Smith is responsible for overall strategic direction of the company including the organization's long-term growth strategy. 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. Health Care Service Corporation, a Mutual Legal Reserve Company. One option is Adobe Reader which has a built-in screen reader. He was promoted last year to president of HCSC after the departure of then-CEO Paula Steiner. He has . On average, employees at HCSC stay with the company for 5.9 years. Suite 3200 He brings a broad perspective and deep understand ing of the industry to his role from his 28 years of service with the company. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. The company was founded in 1936 and is based in Chicago, Illinois with a network of offices in the United States. Thompson said the company doesnt plan any additional job cuts. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. The site may also contain non-Medicare related information. It concentrates its operations in Illinois, Montana, New Mexico, Oklahoma, and Texas. 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. HCSC is the fifth-largest health insurer in the US overall and employs more than 23,000 people. 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. Click here to get the full experience on your screen. Between 2009 and 2013, HCSC's five-year average of return on capital was 10.5%. Jean-pierre Yvaral Abraham Lincoln Ltd D Serigraph Hand Signed Loa. "As a leader in healthcare, Maurice brings significant experience and insight to the Ventas Board," said Debra A. Cafaro, Ventas Chairman and . Copyright document.write(new Date().getFullYear()) Health Care Service Corporation. As president, Maurice Smith is responsible for overall strategic direction of the company including the organization's long-term growth strategy. maurice smith hcsc wife. 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? Missing Crain's in print? To view this file, you may need to install a PDF reader program. Maurice Smith, who Moving forward, HCSC will likely seek growth in Medicaid and Medicare Advantage, Akers says. As competitors have pursued mergers and acquisitions, HCSC has mostly opted to invest in its existing markets and offerings. Smith, author of the acclaimed novel "White Teeth," stepped up to the plate and delivered a hilarious, updated tale with the bawdy protagonist, Alvita with "The Wife of Willesden." Smith . (Photo By Raymond Boyd/Getty Images), Big Jumps In Diversity Fuel Surge In U.S. Tennis Participation Since 2020, Walgreens-Backed VillageMD Buys 30-Location Physician Group In Connecticut, Banning Abortion Pill Mifepristone Would Set A Dangerous Precedent For The Politicization Of Public Health, Ukraine Wars Toll Of Death, Destruction, Displacement, And Trauma: Fresh Evidence Of Systematic Planning Of Torture Leaves Behind An Indelible Mark, Walmart To Double Health Clinic Footprint As Amazon And Rivals Buy Doctor Offices, Covid-19s Enormous Death Toll: Worldwide Life Expectancy Has Experienced A Steep Decline, Questions Scientists Should Now Explore With Respect To Covid-19, Sustainable Development A Smart Solution for Africa and the Middle East. About Health Care Service Corporation HCSC, by contrast, has been more cautious on deal-making. Solutions Sales Marketing. Director at Federal Reserve Bank of Chicago - View - Federal Reserve Bank of Chicago org chart. Maurice Smith joined Blue Cross Blue Shield in 2021. File is in portable document format (PDF). In 2021, under Smith's leadership, HCSC announced its biggest expansion in Medicare Advantage. Find Maurice Smith's accurate email address and contact/phone number in Adapt.io. Wed. 2021. maurice smith hcsc wifehtml5 interactive animation. Click here to get the full experience on your screen. Health Care Service Corporation is the licensee of the Blue Cross and Blue Shield Association for five states. Health Care Service is a mutual insurer owned by policyholders. As of May 1, 2019, HCSC announced an in-house educational program aimed at developing the skills of its employees, dubbed Blue University. File is in portable document format (PDF). Health Care Service Corporation, a Mutual Legal Reserve Company. Smith, 48, will succeed David Lesar, who was the interim CEO. 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