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Source: Modern Healthcare
Author: Caroline Hudson
Date: February 13, 2024
HCA Healthcare said Tuesday it is realigning the responsibilities of its C-suite to implement strategies faster.
The move comes as HCA works to bring more than $2 billion in capital projects online this year, part of the Nashville, Tennessee-based system’s aggressive push to take market share in both inpatient and outpatient care.
The for-profit system said starting April 1, its three operating groups will report to Chief Operating Officer Jon Foster, who was named to the role just over a year ago.
In early 2023, HCA added a third operating group. The presidents of the groups have been reporting to CEO Sam Hazen.
Chief Information Officer Chad Wasserman and Dr. Mike Schlosser, senior vice president of care transformation and innovation, will report to Hazen. Wasserman was named to his role about a week ago.
HCA also expanded Michael McAlevey's role from chief legal officer to chief legal and administrative officer. In addition to legal issues, he will oversee marketing and corporate affairs, government relations, development, ethics and compliance and information security.
Mike Marks, named chief financial officer in late January, will oversee all divisions except information technology, effective May 1, as part of a larger push to integrate revenue cycle operations. Marks joined HCA in 1996 and was most recently serving as senior vice president of finance.
An HCA spokesperson said no job cuts will accompany the changes.
HCA has big expansion plans over the next couple of years. Projects range from new hospitals and freestanding emergency departments, to urgent care centers and other outpatient facilities.
In 2023, HCA reported net income of $5.24 billion, or $18.97 per share, compared with $5.64 billion, or $19.15 per share, in 2022. Revenues increased 7.9% to $64.97 billion, and expenses grew 10.9% to $57.26 billion.