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Moving forward, HCSC will likely seek growth in Medicaid and Medicare Advantage, Akers says. Wed. 2021. I write about healthcare business and policy, Park in Chicago, Illinois on June 24, 2017. Chicago, IL 60601 The most common ethnicity at HCSC is White (60%). Find Maurice Smith's accurate email address and contact/phone number in Adapt.io. Maurice Smith. "This is a good example of proactive corporate governance and, frankly, you don't see that every day.". Roosevelt University students Sophia Gallo, Nazarii Mykhailenko and Rachelle Vinson were presented the American Dream Award, a scholarship sponsored by BlueCross BlueShield of Illinois, on October 17. This new site may be offered by a vendor or an independent third party. Blue Cross Blue Shield Building, home of Health Care Service Corp. as photographed from Maggie Daley [+] Park in Chicago, Illinois on June 24, 2017. Suite 3200 During his tenure, Smith grew the organizations annual revenue by 35 percent. I am delighted to welcome him as chair," said Ali Malekzadeh, Roosevelt University president. To view this file, you may need to install a PDF reader program. President and CEO at Health Care Service Corporation (HCSC) Maurice Smith Bio. Health Care Service Corporation, a Mutual Legal Reserve Company. 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 . Maurice previously was President of HCSC's Illinois Plan, the state's largest health insurance company. Blue Cross and Blue Shield of Texas is a division of HCSC, a Mutual . Board members had grown frustrated with Steiner's relatively cautious expansion strategy amid rapid industry consolidation. greg_thompson@hcsc.net. 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. This documentary-style series follows investigative journalists as they uncover the truth. To view this file, you may need to install a PDF reader program. And Anthem this year launched its own pharmacy benefit manager, IngenioRx. As of May 1, 2019, HCSC announced an in-house educational program aimed at developing the skills of its employees, dubbed Blue University. For more than a decade the insurer has partially owned pharmacy benefit manager Prime Therapeutics, along with other Blues plans. http://access.adobe.com. Chicago-based REIT Ventas, Inc. announced that Maurice Smith, president and chief executive officer of Health Care Service Corporation (HCSC), has been appointed . Health Care Service Corporation, a Mutual Legal Reserve Company. Smith holds a bachelors degree in business administration from Roosevelt University and an MBA from Pepperdine University. Other big insurers, meanwhile, have engineered multibillion-dollar transactions that obliterate traditional boundaries between insurers, pharmacies and doctors. Blue Cross and Blue Shield of New Mexico is a division of HCSC, a . 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. 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. Some directors want the insurer to broaden its service capabilities as other large health insurers have done. 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. 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. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. As CEO, Smith is responsible for the overall strategic direction of the company, including the organization's long-term growth strategy. [3], In 2010 HCSC nearly doubled its income to $1.09 billion, and began "a streak of billion-dollar profits for 4 straight years". Chicago, Illinois, United States. With 16 million members, HCSC's revenue increased 10 percent to $35.9 billion last year. All Rights Reserved. HCSC is the parent of Blue Cross plans in Texas, Oklahoma, New Mexico and Montana, in addition to Illinois. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. 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. Maurice Smith . Copyright document.write(new Date().getFullYear()) Health Care Service Corporation. 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 will remain a member of the company's board. President, HCSC. He has . Health Care Service Corp. (HCSC) on May 5 named Maurice Smith its new president and CEO, effective June 1. A potential contender for the permanent role is newly named HCSC President Maurice Smith, who has been with the . http://access.adobe.com. Contract Terms: 1 yr(s) / $850,000 Signing Bonus - "Maurice is an accomplished leader with a long track record of innovation. Such strategies will be tested in the future as the health care system continues to grapple with the spread of the coronavirus strain COVID-19 and high unemployment that is expected to disrupt health insurance coverage for many. To view this file, you may need to install a PDF reader program. He is a member of the Board of the Economic Club of . 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. some sites may require you to agree to their terms of use and privacy policy. [7] In 2021, under Smith's leadership, HCSC announced its biggest expansion in Medicare Advantage. 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. The company reported annualized return on capital of greater than 40% through the first half of 2018, where achieving a high single-digit ROC would be consistent with Fitch's median guideline for the current rating category. Their struggles were hardly surprising, given the substantial changes in the roster coach Luke Richardson is working with. Missing Crain's in print? 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. At that time, David Lesar, will step down as the companys interim CEO; he will remain a member of the Board of Directors. Between 2009 and 2013, HCSC's five-year average of return on capital was 10.5%. Health Care Service Corporation (HCSC) is a member-owned health insurance company in the United States. Health Care Service is the nations fifth-largest health insurer with nearly 16 million health plan members. 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.. One option is Adobe Reader which has a built-in screen reader. "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.". 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. HCSC employees are most likely to be members of the democratic party. best army base in germany is dr abraham wagner married is dr abraham wagner married May 05, 2020, 14:02 ET. As president, Maurice Smith is responsible for overall strategic direction of the company including the organizations long-term growth strategy. Maurice was Chairman of the Board for Dearborn National Life Insurance. 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. Throughout his nearly 27 years of service with HCSC, he also has previously served as president of Blue Cross and Blue Shield of Illinois where he was responsible for the . 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. Humana, for its part, has opened clinicssome inside Walgreens storeswhile doubling down on Medicare Advantage business. "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," he said in a statement. [2], HCSC reported a strong underwriting profit in 2017 after losses related to Affordable Care Act (ACA) exchange-sourced business in 2014 and 2015. "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. HCSC declined to make someone available for an interview. 15% of HCSC employees are Hispanic or Latino. 312.653.7581 Maurice Smith President and CEO, Health Care Service Corp. Tweet Share Share Email More. Maurice Smith. File is in portable document format (PDF). You may opt-out by. 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 joined HCSC nearly 27 years ago as an intern. It concentrates its operations in Illinois, Montana, New Mexico, Oklahoma, and Texas. Blue Cross and Blue Shield of Texas is a division of HCSC, a Mutual Legal Reserve Company, an independent licensee of the Blue Cross and Blue Shield Association. A boardroom dispute over strategy leaves Health Care Service Corp. in limboat a time of convulsive change in health care. 2 in New Mexico and Texas, according to data compiled by the Kaiser Family Foundation. 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. On average, employees at HCSC stay with the company for 5.9 years. Other Adobe accessibility tools and information can be downloaded at http://access.adobe.com. 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. Maurice S Smith is President/CEO at Health Care Service Corporation. 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. 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? Copyright document.write(new Date().getFullYear()) Health Care Service Corporation. He has held many senior financial management roles at HCSC, including head of corporate transactions and investment strategies. In addition, some sites may require you to agree to their terms of use and privacy policy. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Get Hcsc company's verified contact number +1*****725, web address, revenue, total contacts 528, industry Healthcare, Pharmaceuticals, & Biotech and location at Adapt.io Im not a victim, baby, the comedian says, also commenting on Jada Pinkett Smith, trans people and selective outrage.. 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.