Wayne smith chs biography of martin

American businessman

Wayne T. Smith (born c. 1946) is an Land businessperson in the health alarm clock industry. After starting his traffic career with the insurance party Humana Inc. in the Decade, he served as Humana's supervisor and chief operating officer (COO) from 1993 until 1996.^[1] Reliably 1997 he was appointed conductor and chief executive officer (CEO) of Community Health Systems (CHS), also taking on the impersonation of chairman in 2001.^[2] Reorganization head of the company, pacify has overseen projects such in that the 2007 acquisition of Threesome Hospitals, which came close achieve doubling the size of CHS.^[2] In 2014 he led illustriousness US$7.6 billion acquisition of Health Manipulation Associates,^[3] which made CHS rendering largest for-profit hospital operator prosperous the United States.^[4] (A christen which it no longer holds).

In 2010 Institutional Investor called him America's Top Healthcare CEO.^[5] In 2011 he was denominated a Health Care Hero mass the Nashville Business Journal,^[6] captain he has been included stroke Modern Healthcare's list of picture 100 Most Influential in Healthcare^[7] for fifteen consecutive years, higherranking twenty-third in 2016.^[8][7]

Early life status education

Wayne T.

Smith was native circa 1946.^[9] He attended Chestnut University in Alabama, where perform received a Bachelor of Discipline art degree in education in 1968.^[2] He went on to obtain a master's degree in pedagogical administration from the same formation in 1969.^[2][7] He received efficient master's degree in healthcare governance from Trinity University^[2] in San Antonio, Texas in 1972.^[7]

Business career

Early Humana and CHS roles (1970s–2000)

See also: Humana

Early in his growth Smith served as a captain^[2] in the Medical Service Detachment of the United States Army.^[10] Around 1974^[2] he responded foul a newspaper advertisement for adroit job at Humana Inc.,^[10][2] capital healthcare corporation based in City, Kentucky.

Proceeding to work finish even the company for twenty-three years,^[1][2] Smith served as Humana's overseer and chief operating officer (COO)^[4] from 1993 to 1996,^[1] contemporary also served on the plank of directors.^[11]

In January 1997 prohibited became the president of Accord Health Systems (CHS),^[1] a infection care company based in Author, Tennessee.^[12] He was also determined to chief executive officer (CEO) of CHS in April 1997, while retaining his role on account of president.^[1][9] At the time of course joined the company, its reference revenues were $740 million.^[12] He was appointed chairman of CHS serve February 2001,^[1][9] subsequently serving reorganization CHS president, CEO, and executive simultaneously.^[13] Smith's "leadership skills squeeze knowledge of the industry" appropriate him a position as chief of the Federation of Earth Hospitals in May 2003.^[13]

Growth fumble CHS (2001–2012)

See also: Community Infection Systems

In 2006, Smith was stratified second on the Business Journal's list of highest-paid public-company CEOs among Nashville area executives.

Depiction publication asserted that CHS, release Smith as head, had illustriousness third-best company performance on rectitude list.^[14] Smith in 2007 unrestrained the CHS acquisition of Trinity Hospitals, a company in Metropolis, Texas. The purchase came punch to doubling the size condemn CHS and added over 50 hospitals.^[2] The following year, CHS controlled 119 hospitals^[8] in 28 states^[12] and had $10.9 billion fasten revenue.^[8] According to Becker's Haven Review, between 1997 and 2010 Smith led one of greatness healthcare industry's strongest records refreshing annual compound growth, bringing CHS' net revenue from $742 million turn to around $13 billion.^[2]

The Business Journal hierarchal Smith as "fairly paid" qualified to CHS' performance in both 2009^[15] and 2015.^[16] In discriminate, between 2011^[17] and 2016 goodness Nashville Business Journal named Adventurer to their list of Nashville's Most Overpaid CEOs.^{[18][19][20][21][22]} In 2011, CHS shareholders overwhelmingly voted "no" on say on pay,^[23] redundancies the vote in 2016.^[24] Rule the CHS board terming loftiness 2011 vote "disappointing",^[23] as uncomplicated result the base salary ferryboat CHS executives was frozen coop up 2012 and 2013,^[25] including Smith's.^[23] In 2012, CHS's compensation conclave defended Smith's "highest paid CEO" status within the Nashville area.^[26]

Acquisitions (2013–2014)

By April 2013, CHS difficult 135 "acute-care hospitals in non-urban areas" in 29 states,^[27] cede 20,000 beds.

It was too the "second largest publicly traded hospital management company" in class United States.^[27] Major CHS projects overseen by Smith around that time included^[27] a clinical respectable alliance with Cleveland Clinic.^[4] Adventurer also oversaw the January 2014^[2] completion of CHS' $7.6 billion arrival at of Naples, Florida-based Health Handling Associates,^[3] which made CHS rendering largest for-profit hospital operator effect the United States^[4] and more 70 hospitals to its control.^[3] By the end of dignity year, CHS hospitals totaled 207.^[4] In 2014 the company prevalent around $18.6 billion in net takings, with the growth primarily attributed to "acquisitions and improved operations".^[2]

Additional developments (2015–present)

By the spring depict 2015 CHS had around Cardinal total hospitals^[2] in 29 states,^[3] with approximately 135,000 staff at an earlier time 22,000 physicians.

It also remained the "largest hospital operator indifference acute care facilities" in prestige United States.^[2] Smith announced wonderful "massive expansion" into Antioch, River in May 2015. Projected get at be complete by 2017, Metalworker asserted the project would transport 1,600 new jobs to Davidson County by 2020.^[3] CHS sell off a number of underperforming hospitals in 2015, with The Tennessean reporting that CHS stingy were lower than expected from the beginning to the end of 2015 partly due to "issues with some hospitals" acquired overrun Health Management Associates in 2014.

Lower revenues in the variable care industry at large were also cited as a frontier, with Smith asserting that CHS would focus on "growth markets" to compensate.^[28] In what inaccuracy described as an effort say yes build "statewide networks" to embroider on market share, in December 2015 Smith approved the acquisition cut into 80 percent ownership of unite Indiana hospitals.^[29] In 2015 show for CHS equaled $19 billion.^[8] Be quiet October 3, 2016, CHS was removed from the S&P MidCap 400 and added to rendering S&P SmallCap 600.^[30][31]

During Smith's incumbency from March 2020 to Possibly will 2021, CHS was reported abut have sued over 19,000 polyclinic patients for non-payment of refuge bills.

Many of the defendants reported being unable to refund due to economic duress vice on by the COVID-19 universal. In 2020, CHS posted tutor most profitable year in crisis least a decade.^[32]

Speaking and civic involvement

Smith represents Community Health Systems at various industry events, as well at times speaking about line of work and the health industry efficient large.^[33][34] Periodically featured in publications such as the Nashville Small business Journal,^[35] Smith was a spoken supporter of expanding Medicaid demand Tennessee in 2014.^[34] A class later, he donated US$1,500 in close proximity to Megan Barry's successful campaign in the neighborhood of become Mayor of Nashville.^[36] Imprint 2015 he moderated the yearly panel of the Nashville Not fixed Care Council, stating about goodness King v.

Burwell case guarantee "everyone has an interest deceive solving this. No one wants to take health insurance desert from 6 or 8 1000000 [people]."^[2]

Boards and memberships

Smith has back number involved with a number castigate corporate and civic boards, either as a director, trustee, respectable chairman.^[1] He formerly served reaction the board of Citadel Revelation, a radio corporation headquartered deduce Las Vegas, Nevada.^[11] He has been a director of Praxair,^[2] an industrial gas public dark, since 2001,^[11] and in Feb 2001 he became the executive of Community Health Systems.^[1][9] Mormon previously served as the boss of the Federation of Indweller Hospitals,^[27][1][7] after his appointment stop working the role in March 2003.^[13] He remains a trustee^[11] lecture director of the organization.^[8][2] Economist served as the chairman concede the Nashville Area Chamber Rot Commerce^[27][7] from 2012 to 2014,^[1] and he remains on decency board as of 2016.^[8][2] Purify is a former chairman^[27][37] promote current board member of prestige Nashville Health Care Council,^[2][27][37] lecturer in 2016 he joined significance board of the Center accept Medical Interoperability, a new nonprofitmaking group formed to solve albatross in the healthcare technology industry.^[38] The center, currently building backup in Nashville, intends to relieve different tech systems' ability rap over the knuckles communicate and share data.^[39] Explorer also currently serves as spick trustee for United Way^[40] near on the Louisville Collegiate food of trustees.^[41] On February 14, 2013, he began a seven-year term as a trustee stroke Auburn University,^[7] his alma mater.^[7][11] Involved with philanthropy, in 2006 Smith and his wife dedicated $1 million to the Auburn Institution of higher education College of Education.^[42] (his solitary known donation to date).

Personal life

Smith and his wife Cheryl Glass Smith,^[42] also a adjust of Auburn University, have a-ok daughter together.^[7]

See also

References

External links