Providence has announced its current chief operating officer, Erik Wexler, will succeed outbound President and CEO Rod Hochman, M.D., when he retires at the end of this year.
Wexler has been with the major nonprofit system since 2016 when he took a role as regional chief executive for its Southern California division. He was named president of operations and strategy for the same region in 2020 and later stepped into the systemwide chief operating officer position in 2022.
Prior to joining Providence, Wexler was chief executive for Tenet Healthcare’s Northeast Region and held other leadership roles at Vanguard Health Systems, LifeBridge Health and Northwest Hospital.
“With his unwavering commitment to the Mission and more than 30 years of experience in health care, Erik is the right person to inspire and empower Providence caregivers, medical staff and community partners to continue to build on our vision of Health for a Better World,” Providence Board Chair Michael Murphy said in the Wednesday announcement. “Erik will be surrounded by one of the strongest senior leadership teams in health care, and we are excited to build on our momentum as we transform and expand access to care, especially for those who are poor and vulnerable.”
Providence’s current head executive, Hochman, had shared plans back in May to close out his 45-year healthcare career. He will be moving into a CEO emeritus position on Jan. 1, 2025.
“Erik’s focus on Mission and his track record of successful transformation through collaboration will serve Providence well, and I am thrilled that he has answered the call to serve as our next president and CEO,” Hochman said in the announcement.
Providence is among the country’s largest nonprofit health systems with 51 hospitals, 122,000 employees, about 29 million annual patient visits and nearly $29 billion in total operating revenue during its 2023 fiscal year.
The Catholic system has also spent the last few years squarely in the red. It most recently reported a -4.1% operating margin and a $596 million net loss in fiscal 2023 but has so far started 2024 strong with a 2.3% operating margin and $360.3 bottom line.
The nonprofit has also caught some tough headlines in recent months surrounding state investigations and a nine-figure settlement over its internal policies and practices surrounding charity care. Just last week it also began alerting about 2,200 patients of potential exposure to bloodborne infections like HIV.
The announcement of Wexler’s promotion highlighted his track record of organizational transformation and health access. In particular, the system called out his role leading the integration of Providence St. Joseph Health in California and “laying the foundation for a clinically integrated network and expansion of value-based care.” It also pointed to his contribution to a joint venture with Cedars-Sinai Health System to rebuild a medical center and his work driving social issue priorities and health equity investments.
“Erik understands the importance of partnering with clinicians. He is committed to making Providence the best place to practice medicine and to ensuring our physicians are well supported in meeting the needs of patients,” Judy Marvin, M.D., chair of the Providence Medical Group board, said in a statement. “We look forward to working with Erik as we continue to deliver on the quadruple aim of improving quality, access, affordability and experience.”
Outside of Providence, Wexler serves on boards for the American Hospital Association, the UCLA Fielding School of Public Health and R1 RCM, as well as on the FBI Healthcare Advisory Council. He steps into the new role on Jan. 1.
“I joined Providence in 2016 because I felt a deep personal calling to the organization’s mission, values and promise,” said Wexler. “I feel incredibly honored to serve and lead an organization of compassionate caregivers and physicians who are deeply committed to improving the health of our communities.”