Intermountain Healthcare on Thursday announced that CEO Marc Harrison will step down this fall to run a new "healthcare platform business" for venture capital firm General Catalyst.
This fall, Harrison will step down as Intermountain's CEO after leading Utah's largest health system for six years. The health system, which is the largest private employer and health insurance provider in the state, provides health care to at least half of Utah residents.
Harrison has been recognized as a prominent leader in the health care industry. Fortune Magazine ranked Harrison among 50 of the "World's Greatest Leaders" in its annual list. He was also recognized among the top 25 honorees in Modern Healthcare's "100 Most Influential People in Healthcare" list in 2021 for his role in combating the Covid-19 pandemic and efforts to create "a safer and more effective health care delivery system."
According to Business Insider, Harrison has been a proponent for value-based care, advocating for doctor compensation to reflect patient outcomes instead of the volume of procedures or patients.
In 2019, he helped found Civica Rx, a Utah-based nonprofit drug company that combats generic drug shortages and pricing schemes, Axios reports.
And as Intermountain's CEO, he oversaw the health system's merger with SCL Health and led the acquisition of a major hospital system in Nevada. In addition, under his tenure, Intermountain has been credited with increasing access to care through virtual physician-to-physician consultations.
When Harrison joined Intermountain in 2016, he said that he had not been searching for a new position, but ultimately decided he couldn't pass up the opportunity, adding that the system's commitment "to keeping care affordable is really extraordinary."
"Marc has helped spur innovation across our organization during his six-year tenure. We are better today because of his outstanding leadership," said Mike Leavitt, the chair of the Intermountain board, and former governor of Utah.
The Intermountain board plans to appoint a temporary CEO as it conducts its search for Harrison's successor.
Harrison said he is proud of Intermountain's efforts to improve quality of care, grow its footprint, and invest in its workforce by expanding parental leave and education benefits.
"I couldn't be prouder of the work we have done together here at Intermountain. This has been the best six years of my life professionally that I could ever imagine. That said, I can see an opportunity here," Harrison said. "While Intermountain is strong, that is the time for me to walk away, as hard as it is, to take this next big challenge on."
Following his departure, Harrison will run a new "healthcare platform business" at General Catalyst—a move that reflects General Catalyst's growing focus on health care.
In May, General Catalyst and Intermountain entered a partnership to develop technology that advances value-based care. In October, General Catalyst entered a similar partnership with Jefferson Health. The firm has also backed Transcarent, Olive, Sprinter Health, and Commure.
Notably, other industry executives have also joined General Catalyst, including former Jefferson Health CEO Stephen Klasko, who was named an executive-in residence in February, and Ron Paulus, former president and CEO of Mission Health, who was named an executive-in-residence in 2019.
"We're hoping healthcare becomes more distributed," said Chris Bischoff, a managing director at General Catalyst. "That we see doctors treating patients where they are, using virtual and in-home care and care becoming more decentralized. And indeed, not just patient-centric, but physician-centric. We need to be more connected." (Sapunar, Salt Lake Tribune, 8/11; Kacik, Modern Healthcare, 8/11; Alberty, Axios, 8/11)
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