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. Civic and business leader Jaime di Paulo, President and CEO of the Illinois Hispanic Chamber of Commerce (IHCC), was voted into the Roosevelt University Board of Trustees at the December board meeting. It's the dominant insurer in Illinois, Montana and Oklahomaand it's a close No. Get Hcsc company's verified contact number +1*****725, web address, revenue, total contacts 528, industry Healthcare, Pharmaceuticals, & Biotech and location at Adapt.io 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. It concentrates its operations in Illinois, Montana, New Mexico, Oklahoma, and Texas. HCSC is the parent of Blue Cross plans in Texas, Oklahoma, New Mexico and Montana, in addition to Illinois. In this role, Smith is responsible for overall strategic direction of the company including the organization's long-term growth strategy. Blue Cross parent Health Care Service Corp. exec pay goes underreported Smith, 48, who has been with HCSC for nearly 27 years and joined as an intern, will become HCSC CEO effective June 1. Suite 3200 HCSC is the fifth-largest health insurer in the US overall and employs more than 23,000 people. About Yvaral Jean-pierre Vasarely (19342002), Professionally Known As Yvaral, Was A French Artist Working In The Fields Of Op-art And Kinetic Art From 1954 Onwards. Connect with intelligence [object Module] Products Web Platform Chrome Plugin API. "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. I am delighted to welcome him as chair," said Ali Malekzadeh, Roosevelt University president. 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. Humana, for its part, has opened clinicssome inside Walgreens storeswhile doubling down on Medicare Advantage business. With 16 million members, HCSC's revenue increased 10 percent to $35.9 billion last year. Arun Prasad Joins Health Care Service Corporation As Chief Strategy Officer [3], In 2010 HCSC nearly doubled its income to $1.09 billion, and began "a streak of billion-dollar profits for 4 straight years". Health Care Services Corp. CEO Maurice Smith. (Photo By Raymond Boyd/Getty Images). [2] HCSC's membership was approximately 16 million at December 31, 2019. During 2014 HCSC profits decreased "from medical losses and expenses associated with the company's aggressive addition of members sourced from ACA exchanges". The average employee at HCSC makes $58,172 per year. 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.. Steiner and Feldstein could not be reached for comment. 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. This new site may be offered by a vendor or an independent third party. Im not a victim, baby, the comedian says, also commenting on Jada Pinkett Smith, trans people and selective outrage.. 100 Most Influential People in Healthcare - Maurice Smith A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. Improving the attack has been a focus for the Fire, who compiled 12 shutouts last year but missed the playoffs. To view this file, you may need to install a PDF reader program. 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., This is a BETA experience. A boardroom dispute over strategy leaves Health Care Service Corp. in limboat a time of convulsive change in health care. Maurice Smith. Most PDF readers are a free download. You are leaving this website/app ("site"). As CEO, Smith is responsible for the overall strategic direction of the company, including the organization's long-term growth strategy. 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. HCSC declined to make someone available for an interview. "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. "Roosevelt's focus to increase access to education for all has never been more important," said Smith. Director at Federal Reserve Bank of Chicago - View - Federal Reserve Bank of Chicago org chart. On average, employees at HCSC stay with the company for 5.9 years. Today, HCSC and its companies are the largest and most experienced health insurance company in the state of Illinois, providing more than 6.5 million members with comprehensive and affordable health plans. Smith's three-year term will begin September 1, 2021. Solutions Sales Marketing. Greg Thompson Musk Made a Mess at Twitter. 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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 . Chicago, IL 60601 Revenues last year totaled $38.6 billion, making it the country's sixth-largest health . 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. HCSC board member and former energy executive David Lesar is serving as interim CEO. Health Care Service Corporation is the licensee of the Blue Cross and Blue Shield Association for five states. Maurice also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. Blue Cross Blue Shield Building, home of Health Care Service Corp. as photographed from Maggie Daley [+] Park in Chicago, Illinois on June 24, 2017. HCSC offers group life, disability, and dental policies, as well as a range of other individual policies. But getting bigger quickly, likely through acquisitions, may be the top item on the new CEO's agenda. Career. 15% of HCSC employees are Hispanic or Latino. HCSC is the country's largest customer-owned health insurer, with nearly 17 million members across its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. Health Care Service is the parent of Blue Cross and Blue Shield plans in Illinois, Texas, Oklahoma, New Mexico and Montana. Blue Cross and Blue Shield of Montana is a division of HCSC, a . Ventas Appoints Maurice Smith, CEO of HCSC, to Board of Directors In general, to best serve our customers now and into the future of the rapidly changing health care landscape, we are rebalancing our resources to meet the diverse needs of our customers, provider partners and other stakeholders, the email said. Throughout his nearly 27 years of service with HCSC, he also has previously served as president of Blue Cross and Blue Shield of Illinois . 400 employees to be cut from Blue Cross parent company: report The Hawks failed to score in the last 59 minutes Saturday and suffered their fourth consecutive loss. E-mail oureditor 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. [2], HCSC reported a strong underwriting profit in 2017 after losses related to Affordable Care Act (ACA) exchange-sourced business in 2014 and 2015. Manages and triages . Biography of Maurice Smith - The Official Board 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. 130 E. Randolph St. 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. houseboat netherlands / brigada pagbasa 2021 memo region 5 / maurice smith hcsc wife. 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 . In addition, some sites may require you to agree to their terms of use and privacy policy. He brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. maurice smith hcsc wifehtml5 interactive animation. 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 . 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. Sources identified him then as a contender for the top job, which has been held in the meantime by interim CEO David Lesar, who now will return to his previous role as a board member. http://access.adobe.com. Maurice Smith Contract Details - Over the Cap "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. To view this file, you may need to install a PDF reader program. 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. 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. All Rights Reserved. Under Steiner, the $36 billion-revenue company has focused on its local markets and financial performance. Their struggles were hardly surprising, given the substantial changes in the roster coach Luke Richardson is working with. Ventas Appoints Maurice Smith, CEO of HCSC, to Board of Directors Blue Cross and Blue Shield of Oklahoma is a division of HCSC, a . sclerosis suffix words Contract Terms: 1 yr(s) / $850,000 Signing Bonus - 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 employees are most likely to be members of the democratic party. Maurice S Smith is President/CEO at Health Care Service Corporation. maurice smith actor Los Angeles County, CA. [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]. As competitors have pursued mergers and acquisitions, HCSC has mostly opted to invest in its existing markets and offerings. Wed. 2021. As president, Maurice Smith is responsible for overall strategic direction of the company including the organizations long-term growth strategy. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. 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 . HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. This new site may be offered by a vendor or an independent third party. Thompson said the company doesnt plan any additional job cuts. Opinions expressed by Forbes Contributors are their own. 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. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. He has an MBA from Pepperdine University and a bachelors degree from Roosevelt University. One option is Adobe Reader which has a built-in screen reader. Maurice previously was President of HCSC's Illinois Plan, the state's largest health insurance company. About Health Care Service Corporation 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. The company operates the Blue . 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. Bulking up has helped larger payers create economies of scale and expand capabilities as the health care landscape shifts. Net income more than tripled to $4.1 billion, due mostly to the Trump administration's 2017 tax law changes, as revenue rose 10% to $36 billion. As president and CEO, Maurice Smith is responsible for overall strategic direction of the company including the organization's long-term growth strategy. You may opt-out by. Missing Crain's in print? Health Care Service Corporation Announces Leadership Changes Health Care Service Corporation - Wikipedia Maurice Smith is President and Chief Executive Officer of HCSC. 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. 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. Maurice Smith | Health Care Service Corporation - HCSC Maurice Smith - Federal Reserve Bank of Chicago In 2021, under Smith's leadership, HCSC announced its biggest expansion in Medicare Advantage. Currently working as President, Blue Cross and Blue Shield-Illinois at Hcsc in Illinois, United States. "On behalf of the entire Board of Directors, I am pleased that . Smith, 48, will succeed David Lesar, who was the interim CEO. For more than a decade the insurer has partially owned pharmacy benefit manager Prime Therapeutics, along with other Blues plans. Suite 3200 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. Maurice Smith, who 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. [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 Smith. Maurice joined HCSC nearly 27 years ago as an intern. Chairperson: Maurice Smith. Jean-pierre Yvaral - $1500.00. President, HCSC. 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. Moving forward, HCSC will likely seek growth in Medicaid and Medicare Advantage, Akers says. Blue Cross parent top executive pay surges Northwestern doc studies File is in portable document format (PDF). The site may also contain non-Medicare related information. He has held many senior financial management roles at HCSC, including head of corporate transactions and investment strategies. Click here to get the full experience on your screen. Meanwhile, Cigna bought pharmacy benefit manager Express Scripts for $67 billion last year. HCSC CEO Maurice Smith elected Chair of Roosevelt Board of Trustees Under pressure to reduce health care costs and improve outcomes for members, HCSC's rivals have found creative ways to get closer to patients. Blue Cross and Blue Shield of Montana Parent HCSC Names Maurice Smith Between 2009 and 2013, HCSC's five-year average of return on capital was 10.5%. Elected CEO in June 2020 . Smiths current philanthropic endeavors include actively serving on the boards of the Civic Consulting Alliance, Chicago Council on Global Affairs, Roosevelt University and the Common Ground Foundation. An income tax benefit related to the enactment of the Tax Cuts and Jobs Act equal to $833 million contributed to the sizeable ROC ratio during the first half of 2018. Smith began his career as an intern at HCSC in 1993. Maurice Smith is currently. Jim Connor, chairman and CEO of Duke Realty Corporation, was elected to serve as Board of Trustees vice chair. [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. This new site may be offered by a vendor or an independent third party. Board members had grown frustrated with Steiner's relatively cautious expansion strategy amid rapid industry consolidation. "I also want to thank outgoing chair Patricia Harris for her dedication to strengthening our institution, especially through the pandemic.". Chairperson: Maurice Smith - Prime Therapeutics LLC Illinois Blue Cross parent Health Care Service Corp. names Maurice 130 E. Randolph St. Prior to being named president of HCSC, Maurice was president of Blue Cross and Blue Shield of Illinois where he was responsible for the overall strategic direction for Illinois health plan including the organization's long-term growth strategy, planning and performance. Most PDF readers are a free download. He brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. The most common ethnicity at HCSC is White (60%). "This is a good example of proactive corporate governance and, frankly, you don't see that every day.". Among those taking the cue is UnitedHealth Group. 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, . Others named Maurice Smith. 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 board member and former energy executive David Lesar is serving as interim CEO. Blue Cross and Blue Shield of Texas is a division of HCSC, a Mutual . Blue Cross and Blue Shield of Illinois is a division of HCSC, a . The insurer says it expects 16 percent growth in the lucrative, fast-growing segment this year. Health Care Service Corporation 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. 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 . 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. 2023, Roosevelt University, All Rights Reserved. President and Chief Executive Officer. Working At HCSC: Employee Reviews And Culture - Zippia 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: Finalists named for 2023 Chicago ORBIE Awards, The Most Powerful Women In Chicago Business. Health Care Service Corporation, a Mutual Legal Reserve Company. maurice smith hcsc wife One option is Adobe Reader which has a built-in screen reader. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. Some directors want the insurer to broaden its service capabilities as other large health insurers have done. Maurice Smith - Email, Phone - President, Blue Cross and Blue Shield One option is Adobe Reader which has a built-in screen reader. The health care industry is facing a transition from fee-for-service to paying for value, Crains reported.