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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. 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. Roosevelt University is a national leader in educating socially conscious citizens for active and dedicated lives as leaders in their professions and their communities. BCBSTX is a Division of Health Care Service Corporation (which operates Blue Cross and Blue Shield plans inTexas,Illinois,Montana,OklahomaandNew Mexico), the country's largest customer-owned health insurer and fourth largest health insurer overall. HCSC is the parent of Blue Cross plans in Texas, Oklahoma, New Mexico and Montana, in addition to Illinois. 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. 21. 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. S Maurice Smith earned $918,091 in his NFL career. Opinions expressed by Forbes Contributors are their own. Maurice was Chairman of the Board for Dearborn National Life Insurance. 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. 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. A potential contender for the permanent role is newly named HCSC President Maurice Smith, who has been with the . Humana, for its part, has opened clinicssome inside Walgreens storeswhile doubling down on Medicare Advantage business. All Rights Reserved. Acquiring additional health plans requires an enterprise data strategy He has an MBA from Pepperdine University and a bachelors degree from Roosevelt University. President Emeritus Theodore "Ted" Gross (1988-2002) passed away at his home in Evanston, Illinois, on August 16, 2022. In addition, some sites may require you to agree to their terms of use and privacy policy. Smith wasn't made available for an interview. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Click here to get the full experience on your screen. All Rights Reserved. Maurice previously was President of Blue Cross and Blue Shield of Illinois, the state's largest health insurance . Maurice Smith is President and Chief Executive Officer (CEO) of Health Care Service Corporation (HCSC). 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. 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. Smith holds a bachelor's degree in business administration from Roosevelt University and an MBA from Pepperdine University. In addition, some sites may require you to agree to their terms of use and privacy policy. To view this file, you may need to install a PDF reader program. In addition, "As a leader in healthcare, Maurice brings significant experience and insight to the Ventas Board," said Debra A. Cafaro, Ventas Chairman and . The company has about 24,000 current employees and is expected to add about 1,000 new jobs in customer and provider service, technology and digital capabilities this year, according to Thompson. HCSC CEO Maurice Smith elected Chair of Roosevelt Board of Trustees, Leader of Illinois Hispanic Chamber of Commerce Joins Roosevelt Board of Trustees, Inaugural American Dream Award Presented to Three Student Leaders, Remembering Theodore "Ted" Gross, Fourth President of Roosevelt University, International Applicants and Foreign Degree Recipients. 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 . 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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 sites may require you to agree to their terms of use and privacy policy. This new site may be offered by a vendor or an independent third party. Maurice Smith signed a 1 year, $850,000 contract with the Tennessee Titans, including an average annual salary of $850,000. how to become a school board member in florida ocean deck band schedule 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?". 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. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Aetna, for example, combined with CVS Health 18 months ago to combine leading insurance and pharmacy offerings. The . 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. 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 . He holds an MBA from Pepperdine University and a bachelors degree in business administration from Roosevelt University. 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. For more information, please visitHCSC.com, visit ourFacebookpageor follow us onTwitter. The company also provides various care management and wellness resources. (Photo By Raymond Boyd/Getty Images). He brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. Missing Crain's in print? Maurice Smith, who has been with the company [] Health Care Services Corp. CEO Maurice Smith. Most PDF readers are a free download. One option is Adobe Reader which has a built-in screen reader. Click below to see everything we have to offer. This new site may be offered by a vendor or an independent third party. Maurice Smith contract and salary cap details, including signing bonus, guaranteed salary, dead money, roster bonuses, and contract history. 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%. Chicago, IL 60601 Bulking up has helped larger payers create economies of scale and expand capabilities as the health care landscape shifts. HCSC declined to make someone available for an interview. "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. 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. [2] HCSC's membership was approximately 16 million at December 31, 2019. Contract Terms: 1 yr(s) / $850,000 Signing Bonus - Jim Connor, chairman and CEO of Duke Realty Corporation, was elected to serve as Board of Trustees vice chair. "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. Throughout his nearly 27 years of service with HCSC, he also has previously served as president of Blue Cross and Blue Shield of Illinois . He will begin this new position immediately. Other Adobe accessibility tools and information can be downloaded at Smith began his career as an intern at HCSC in 1993. Other Adobe accessibility tools and information can be downloaded at http://access.adobe.com. Jan 2021 - Present2 years 3 months. HCSC, by contrast, has been more cautious on deal-making. Steiner's departure last year was reported to be the result of a clash with board members over strategy. Among those taking the cue is UnitedHealth Group. Chicago, IL 60601 Maurice Smith . Lesar said he is "pleased that Maurice will lead HCSC at this critical time for . One option is Adobe Reader which has a built-in screen reader. 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. After three years at the helm, CEO Paula Steiner left the Chicago-based health insurance giant last monthfollowed by Chief Financial Officer Eric Feldstein. File is in portable document format (PDF). 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 . Solutions Sales Marketing. A potential contender for the permanent role is newly named HCSC President Maurice Smith, who has been with the organization for more than two decades and led Blue Cross of Illinois before Steiner's departure. [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]. By Posted split sql output into multiple files In tribute to a mother in twi The insurer says it expects 16 percent growth in the lucrative, fast-growing segment this year. The Hawks failed to score in the last 59 minutes Saturday and suffered their fourth consecutive loss. Others named Maurice 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. [2], HCSC's membership was approximately 16 million as of December 31, 2019. This new site may be offered by a vendor or an independent third party. HCSC board member and former energy executive David Lesar is serving as interim CEO. Health Care Service Corporation, a Mutual Legal Reserve Company. Lesar will remain a member of the company's board. 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. Im not a victim, baby, the comedian says, also commenting on Jada Pinkett Smith, trans people and selective outrage.. 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, . Copyright Health Care Service Corporation. Missing Crain's in print? Blue Cross and Blue Shield of New Mexico is a division of HCSC, a . 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. Jean-pierre Yvaral - $1500.00. Insurers are under pressure from employer groups, the government and the market "to go out there and do something different.". The company operates the Blue . HCSC board member and former energy executive David J. Lesar will serve as interim CEO until Steiner's replacement is named. "Stephen has been instrumental in the company's ambitious growth strategy and . Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. 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. Their struggles were hardly surprising, given the substantial changes in the roster coach Luke Richardson is working with. 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. Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. During his tenure, Smith grew the organizations annual revenue by 35 percent. May 05, 2020, 14:02 ET. The company's next largest state in terms of premiums is Oklahoma, accounting for approximately 9% of premium. Meanwhile, Cigna bought pharmacy benefit manager Express Scripts for $67 billion last year. E-mail oureditor "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. 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. As of 2019, it was noted to be the third-largest . 130 E. Randolph St. To view this file, you may need to install a PDF reader program. Maurice Smith President at Maurice Smith Productions . Currently working as President, Blue Cross and Blue Shield-Illinois at Hcsc in Illinois, United States. Meanwhile, last year was a banner year for HCSC. All Rights Reserved. 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. Maurice also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. Since that time, he worked in many functions at HCSC assuming increased responsibility, excelling in each position and demonstrating solid strategic leadership.

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