Health Industry Career
In September 1998, Baker left state government and became CEO of Harvard Vanguard Medical Associates, a New England–based physicians' group. In May 1999, he was named president and CEO of Harvard Vanguard's parent company, Harvard Pilgrim Health Care, a non-profit health benefits organization. The company had lost $58 million in 1998 and was predicted to lose over $90 million in 1999. Baker responded by cutting the workforce by 90 people, increasing premiums, establishing new contracts with Massachusetts physicians, reassessing the company's financial structure, and outsourcing its information technology. During his tenure as CEO, the company had 24 profitable quarters in a row and earned recognition from the National Committee for Quality Assurance as its choice for America's Best Health Plan for five straight years.
In mid-2007, Baker was invited to join the board of trustees of Beth Israel Deaconess Medical Center. Because of Baker's role in the insurance business, the appointment caused controversy, but he and the hospital's CEO, Paul F. Levy, denied any conflict of interest. Baker also serves on the board of directors of the Kenneth B. Schwartz Center, which, according to its website, "conducts pioneering programs to educate, train and support caregivers in the art of compassionate health care". It is rumored that Baker will take Paul Levy's spot as President of Beth Israel Deaconess Medical Center upon Mr. Levy's resignation.
Read more about this topic: Charles D. Baker, Jr.
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