Jeff Stein and Laura Reiley, Washington Post, Universal Health Services finalizes $127 million settlement in long-running fraud investigation, Universal Health Services takes big write-down on addiction-treatment unit because the business has changed, Biden to increase federal food benefits among executive actions aimed at stabilizing the U.S. economy, Lawyer Bernard Smalley, who learned about power in his dad’s barbershop, to head politically connected charity that runs Girard College, Contractor with ties to Johnny Doc pleads guilty to tax fraud and defrauding union benefit fund, Atlantic City’s former Trump Plaza will be imploded on Feb. 17, mayor says, FBI agents make arrest in Center City in high school stalking case, Inquirer hires a former Boston Globe executive as chief revenue officer, California residents do not sell my data request. Universal Health Services The 83-year-old founder of Universal Health Services, America’s largest psychiatric hospital chain and a major acute-care hospital provider, too, is handing control of the King of Prussia-based company to his son. Welcome to the "Lessons from the C-suite" series, featuring Advisory Board President Eric Larsen's conversations with the most influential leaders in health care.. "UHS' reputation as a financially stable, innovative and award-winning healthcare company will continue," said Marc D. Miller, President and newly appointed CEO, UHS. “We fly under the radar, and we take a conservative approach,” Marc Miller said. The deal followed a report in the BuzzFeed News that the chain would exaggerate the mental plight of patients to hold them involuntarily until their insurance money ran out. Universal Health Services CEO Alan Miller on consolidation of hospitals, mental health care, the opioid epidemic and the company's outlook for growth. I have personally witnessed Marc taking on increasing responsibilities over my seven-year tenure on the Board and am confident that UHS' best years are yet to come!". KING OF PRUSSIA, Pa., Jan. 18, 2017 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its Board of Directors voted to pay a cash dividend of $0.10 per share on March 15, 2017 to shareholders of record as of March 1, 2017. Under Miller's leadership, the company has grown exponentially, and today is an esteemed Fortune 300 corporation comprising an expansive international network with annual revenues of $11.4 billion in 2019. Miller founded the company in 1979 and it has grown to become one of the largest providers of hospital and healthcare services in the nation, with annual revenues of more than $11.37 billion. The College's School of Business relocated to the newly constructed Alan B. Miller Hall in 2009, and the Alan B. Miller Entrepreneurship Center opened in 2010. For real-time news and information around COVID-19 go to www.sacoronavirus.co.za. “For a company, we’re OK with that.”. Alan B. Miller is a Horatio Alger award recipient and a member of the Business Roundtable. “We’ve not seen the opportunity in this market to enter the acute-care space, though we’d love to have more of a footprint here.”. © 2021 The Philadelphia Inquirer, LLC Terms of Use/Privacy Policy/California Notice California residents do not sell my data request. Universal Health Services CEO Alan Miller on Obamacare, the company's acquisition of Cambian Group and responds to a BuzzFeed report. Marc D. Miller is a member of the Board of Trustees of Universal Health Realty Income Trust and he also serves as a member of the Board of Directors of Premier, Inc. Marc D. Miller earned a Master of Business Administration degree in Healthcare from The Wharton School of the University of Pennsylvania, and a Bachelor of Arts degree in Political Science from the University of Vermont. In July, UHS agreed to pay $127 million to the federal government to resolve a False Claims Act investigation of billing practices at about 30 of its psychiatric facilities. He speaks on “Bloomberg Markets.” (Source: Bloomberg) At graduation from the College of William and Mary in Virginia, Alan B. Miller was commissioned in the U.S. Army and served in the 77th Infantry Division. Obamacare's implementation may look like a "train wreck," but Universal Health Services CEO Alan Miller says his $7 billion hospital company is well-positioned for the changes. Universal Health Services, Inc. Universal Health Services salary trends based on salaries posted anonymously by Universal Health Services employees. Alan B. Miller is retiring from his position as CEO at King of Prussia- based Universal Health Services at the end of the year, but will continue to serve as the company’s executive chairman, writes John George for the Philadelphia Business Journal. It is an honor to hand over the reins of this very successful company and know that, every day, the team will continue to provide superior-quality care, save lives, and help families in their times of greatest need.”. View original content to download multimedia:http://www.prnewswire.com/news-releases/universal-health-services-inc-announces-founder-alan-b-miller-plans-to-step-down-as-ceo-in-january-2021-continue-as-executive-chairman-of-the-board-marc-d-miller-president-appointed-chief-executive-officer-301125132.html, Steve Filton, Chief Financial Officer, 610-768-3300. See More Universal Health Services, Inc. In 1992, he was awarded an Honorary Doctorate from the University of South Carolina and received the George Washington University President's Medal in 2002. Over four decades, UHS evolved into one of the nation’s largest health-care concerns. Alan B. Miller is retiring from his position as CEO at King of Prussia- based Universal Health Services at the end of the year, but will continue to serve as the company’s executive chairman, writes John George for the Philadelphia Business Journal.. Miller’s son, Marc D. Miller, will take over as CEO as part of a longstanding succession plan. Alan B. Miller – A Legacy of AchievementAlan B. Miller has received numerous awards for his business achievements and philanthropic endeavors. “We have a good rhythm here. I am confident that the transition will be seamless and the company will continue to excel under Marc's highly competent leadership. About Universal Health Services UHS is a registered trademark of UHS of Delaware, Inc., the management company for Universal Health Services, Inc. and a wholly-owned subsidiary of Universal Health Services. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust. One of the nation's largest and most respected providers of hospital and healthcare services, Universal Health Services, Inc. has built an impressive record of achievement and performance. Universal Health Services's Chairman of the Board and Chief Executive Officer is Alan B. Miller. "Marc is a proven leader and is well prepared to assume the CEO responsibilities, having served as a hospital operator, business development officer, visionary and corporate executive. “I am certainly appreciative of the success we have achieved,” Alan Miller said. He has received high honors from the College, including the William and Mary Alumni Medallion, the College's highest alumni award in 1999; and the Clarke Medallion, the highest honor presented by the Business School, in 2007. Announces Founder Alan B. Miller Plans To Step Down As CEO in January 2021, Continue As Executive Chairman Of The Board; Marc D. Miller, President, Appointed Chief Executive Officer, Code of Business Conduct and Corporate Standards, UHS Code of Ethics for Senior Financial Officers, Inside Information and Trading of Company Stock, Nominating and Governance Committee Charter, http://www.prnewswire.com/news-releases/universal-health-services-inc-announces-founder-alan-b-miller-plans-to-step-down-as-ceo-in-january-2021-continue-as-executive-chairman-of-the-board-marc-d-miller-president-appointed-chief-executive-officer-301125132.html. The elder Miller founded what would become a Fortune 500 company in 1979 with a staff of six. Alan B. Miller, who currently serves as the company's Chairman and Chief Executive Officer, founded Universal Health Services, Inc. in 1979. Marc Miler acknowledged that despite its international footprint, Universal Health Systems is little known outside the industry. Alan B. Miller earned his MBA degree from the Wharton School of the University of Pennsylvania. It now employs 90,000 and operates close to 400 facilities. Compay shares have traded in a range of $65.20 to $157.06 in the last year, and closed Tuesday down 3.74%, to $109.32, on the New York Stock Exchange. He served as a trustee of the William and Mary Endowment Fund, and is a life member of the school's President's Council. Most recently, in 2020, Fox Business recognized him as the second longest-serving CEO in the US. “It has made us a better company.”. Over his 25+ year tenure with UHS, he has held various positions including Eastern Region Vice President of the Acute Care Division; Assistant Administrator of The George Washington University Hospital, Washington, DC; Chief Operating Officer of Wellington Regional Medical Center, West Palm Beach, Florida; and Chief Executive Officer and Managing Director of Central Montgomery Medical Center, Lansdale, Pennsylvania. "I am personally quite proud of the care we have delivered to millions of individuals, and I am grateful for the team of dedicated professionals at UHS who have given so much to so many. Universal Health Services has the property under contract, said Kevin DiLallo, group VP of UHS (NYSE: UHS) and CEO of Manatee Healthcare System. Introducing healthcare’s most forward-thinking healthcare company . Business news and analysis sent straight to your inbox every Tuesday morning. Growing steadily since our inception in 1979 into an esteemed Fortune 500 corporation, annual revenues were $11.4 billion for 2019. This [vaccine] is critical to the country," said McMaster, speaking with Aiken Regional Medical Centers CEO Jim O'Loughlin and local officials. “I was an entrepreneur intent on doing meaningful work and making a difference with my life. Marc D. Miller. UHT, which was founded by UHS under the leadership of Alan B. Miller in 1986, is a real estate investment trust that currently has 71 real estate investments located in 20 states. He received the Chairman's Award from the United Negro College Fund, the Americanism Award of ADL and the Ellis Island Medal of Honor. Marc D. Miller (right) becomes CEO of Universal Health Services in January. In 2014, UHS was recognized by J.P. Morgan as a historical extreme winner among select stocks that generated the highest excess lifetime returns over the Russell 3000 Index and was added as a component of the S&P 500 Index. During his tenure in charge of operations at UHS, Marc Miller has focused on hiring senior executives who have worked “out in the field” at the company’s hospitals. Marc D. Miller , President and Director, received a compensation package of $4.4M, which increased by 16% compared to previous year. Locally, UHS employs 850 people at its corporate headquarters and several thousand at hospitals in the Philadelphia region, which include the oldest psychiatric facility in the United States, Friends Hospital on Roosevelt Boulevard. Universal Health Services, Inc. We’re happy to continue with the same trajectory we’ve been on.”. Universal Health Services, Inc. "This is the strong foundation upon which UHS prepares for the future as a continued leader in healthcare, transforming the way that health systems deliver high-quality care to complex and diverse patient populations. Announces Founder Alan B. Miller Plans To Step Down As CEO in January 2021, Continue As Executi Sep 8, 2020 Universal Health Services, Inc. Universal Health Services, Inc. is a holding company and operates through its subsidiaries including its management company, UHS of Delaware, Inc. All healthcare and management operations are conducted by subsidiaries of Universal Health Services, Inc. To the extent any reference to "UHS" or "UHS facilities" on this website including any statements, articles or other publications contained herein relates to our healthcare or management operations it is referring to Universal Health Services' subsidiaries including UHS of Delaware. Welcome to Universal Healthcare. Universal Health Services CEO Alan Miller on consolidation of hospitals, mental health care, the opioid epidemic and the company's outlook for growth. Announces Founder Alan B. Miller Plans To Step Down As CEO in January 2021, Continue As Executive Chairman Of The Board; Marc D. Miller, President, Appointed Chief Executive Officer. He was also awarded an honorary degree of Doctor of Public Service from the college in 2014. In 2020, UHS was again recognized as one of the World's Most Admired Companies by Fortune; ranked #281 on the Fortune 500; and listed #330 in Forbes ranking of U.S.' Largest Public Companies. Further, the terms "we," "us," "our" or "the company" in such context similarly refer to the operations of Universal Health Services' subsidiaries including UHS of Delaware. Alan B. Miller (left) is stepping down from his role as CEO of Universal Health Services. May 2020 — Universal Health Services, Inc., one of the largest providers of acute and behavioral healthcare in America, is pleased to announce it has again ranked on the Fortune 500 list. Universal Health Services, Inc. is a holding company and operates through its subsidiaries including its management company, UHS of Delaware, Inc. All healthcare and management operations are conducted by subsidiaries of Universal Health Services, Inc. He served on the Board of Overseers and on the school's Executive Board. Our operating philosophy is as effective today as it was 40 years ago, enabling us to provide exceptional care to our patients. “That way, our executives are much more empathetic to the folks servicing patients every day,” he said. Marc D. Miller (right) becomes CEO of Universal Health Services in January. Not a whole lot,” said Marc Miller, who has served as president for 12 years. In 2020, UHS was again recognized as one of the World's Most Admired Companies by Fortune; ranked #281 on the Fortune 500; and listed #330 in Forbes ranking of U.S.' Largest Public Companies. For fiscal year 2018, the median employee pay was $40,826 at Universal Health Services. One of the nation's largest and most respected providers of hospital and healthcare services, UHS today employs approximately 90,000 employees and operates through its subsidiaries close to 400 facilities located in 37 U.S. states, Puerto Rico and the United Kingdom. UNIVERSAL HEALTH SVCS INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Salaries posted anonymously by Universal Health Services … Marc D. Miller, President, Ascends to CEO Marc D. Miller, President since 2009, is the newly appointed CEO of UHS. Universal Health Services President. Marc D. Miller is a member of the UHS Board of Directors and serves on both the Executive Committee and the Finance Committee. (RTTNews) - Universal Health Services, Inc. (UHS) announced Tuesday that its founder Alan Miller will step down as Chief Executive Officer, effective January 2021. In May 2015, the Wall Street Journal ranked Alan B. Miller for achieving 3,715 percent total shareholder returns since 1995. In 2019, he was named as a recipient of the Distinguished Civilian Award by the Ben Franklin Forum in recognition of the behavioral healthcare delivered by UHS Facilities to our nation's military. He founded the King of Prussia-headquartered company in 1979 and built it into an $11.4 billion hospital industry powerhouse. Universal Health Services, Inc. (UHS) CEO Alan Miller on Q3 2020 Results - Earnings Call Transcript Oct. 30, 2020 2:48 PM ET Universal Health Services, Inc. (UHS) , UHID SA Transcripts We will uphold the admirable reputation of UHS in the future as we continuously evolve, and continue to earn the confidence of the communities we serve as a trusted healthcare partner. Marc Miller said UHS has no designs on acquiring an acute-care hospital in the Philadelphia region. Therefore, the ratio of Alan B. Miller's pay to the median employee pay was 629 to one. Alan B. Miller was named Entrepreneur of the Year in 1991 and Financial World named him CEO of the Year in hospital management. Alan B. Miller will continue to serve as Executive Chairman of the Board of Directors of UHS in addition to retaining certain other management responsibilities within the company. Alan B. Miller will also continue to serve in his current role of Chairman of the Board, President and Chief Executive Officer of Universal Health Realty Income Trust (NYSE: UHT). Alan Miller, 83, has served as chairman and CEO of Universal Health Services (NYSE: UHS) since he founded the company in 1979 with six employees.. The 83-year-old founder of Universal Health Services, America’s largest psychiatric hospital chain and a major acute-care hospital provider, too, is handing control of the King of Prussia-based company to his son. Based at the Corporate Headquarters, he has led the business operations of UHS including executive oversight of both the Acute Care Division and Behavioral Health Division. Headquartered in King of Prussia, PA, UHS has approximately 90,000 employees and through its subsidiaries operates 26 acute care hospitals, 330 behavioral health facilities, 41 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services located in 37 U.S. states, Washington, D.C., Puerto Rico and the United Kingdom. Other executives include Marc D. Miller, President, Director; Matthew D. Klein, Senior Vice President and General Counsel and 14 others. UNIVERSAL HEALTH SVCS INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Marc D. Miller was appointed by the Board of Directors to serve as the company's new Chief Executive Officer, effective January, 2021. Ranks on Fortune 500 for 17th Year. 09/08/2020. He will continue to chair the UHS board of directors. For the period 1992-2002, UHS also led the category at 29%. More than a quarter of workers said their mental health … Last year, the for-profit, publicly traded UHS had net income of $815 million on $11.4 billion in revenue. I look forward with great optimism and am confident UHS will continue to thrive and grow.". "Over the past four decades, we have worked hard to deliver upon our mission, care for patients in the most effective manner, grow strategically and seek opportunities," said Alan B. Miller. Marc MiIler has been president of UHS since 2009 and headed the acute-care division, which includes 25 hospitals and accounts for half the firm’s revenue. A free inside look at Universal Health Services salary trends based on 831 salaries wages for 409 jobs at Universal Health Services. Within 18 months of its founding, UHS owned four hospitals and had management contracts with two additional hospitals. Universal Health Services, Inc. “We’re pretty opportunistic about what markets we go into for each of our business lines,” he said, adding that UHS had looked at buying Hahnemann Hospital in Center City but passed on it. Alan B. Miller will step down as chief executive in January and son Marc D. Miller, 50, will take his place in what the company said was as “long-planned succession.”. Marc D. Miller has extensive hospital management experience. “What changes? In addition to Friends, UHS operates eight additional psychiatric centers in the region: Brooke Glen Behavioral Hospital in Fort Washington; Fairmount Behavioral Health in Roxborough; Foundations Behavioral Health in Doylestown; Hampton Behavioral Health in Westampton, Burlington County; Horsham Clinic in Horsham; Keystone Center in Brookhaven; Lancaster Behavioral Health Hospital in Lancaster; and the Rockford Center in Newark, Del. Alain Dehaze, CEO of staffing group Adecco, said business leaders need to be more 'emotionally intelligent' as lockdowns continue. Alan B. Miller founded UHS in 1979 with six employees. The senior Miller is generally credited with being a pioneer in purchasing hospitals in fast-growing communities and building a network out of them. Universal Health Services, Inc. (NYSE:UHS) Q2 2020 Earnings Conference Call July 28, 2020 09:00 AM ET Company Participants Steve Filton - CFO Alan Miller - CEO … Alan B. Miller. Prior to his promotion to President of UHS, Marc D. Miller was Senior Vice President of UHS and President of the company's Acute Care Division, which at the time comprised 25 acute care hospitals and accounted for 50% of the company's total revenues. 69% of the compensation package, or $3M, was in option awards. He was also named to the Forbes "America's Most Innovative Leaders" list. For additional information on the Company, visit our web site: http://www.uhsinc.com. See the full leadership team at Craft. ", "Alan is an icon in the hospital industry, driven by his passion and relentless focus to deliver excellent and compassionate patient care," said Eileen McDonnell, Lead Director, UHS Board. Universal Health Services, Inc. (UHS) is one of the nation’s largest hospital companies operating, through its subsidiaries, behavioral health facilities, acute care hospitals and ambulatory centers throughout the United States, Puerto Rico and the United Kingdom. For fiscal year 2019, the median employee pay was $38,931 at Universal Health Services. Any employment referenced in this website is not with Universal Health Services, Inc. but solely with one of its subsidiaries including UHS of Delaware, Inc. © 2021 Universal Health Services Inc. All Rights Reserved. Fox Business identified Miller this year as the second longest-serving chief executive in the nation. Universal Health Services Chairman of the Board and Chief Executive Officer. Our strategy includes building or acquiring hospitals in rapidly growing markets, investing in the people and equipment needed to allow each facility to excel, and becoming the leading healthcare provider in each community we serve. "Our leadership team is fully engaged and well-positioned to continue to deliver solid performance, achieve strategic growth and expansion, and deliver superior care to patients. Therefore, the ratio of Alan B. Miller's pay to the median employee pay was 578 to one. Executive Committee Finance Committee. In 1999, Alan B. Miller was presented with the first Lifetime Achievement award of the Federation of American Hospitals, who honored him for his many years of industry leadership. Executive Committee Finance Committee. He has been named by Modern Healthcare as one of the "100 Most Influential People in Healthcare" for the last 17 years: 2003-2019. Average salaries for Universal Health Services Ceo: [salary]. Our Board of Directors. Universal Health Services CEO Alan Miller discusses Republican efforts to reform health care and the sustainability of Obamacare. Alan B. Miller (born August 17, 1937) is an American businessman who is the founder of Universal Health Services, and currently serves as the company's chairman and chief executive officer (CEO). Alan B. Miller, the founder and CEO of Universal Health Services, Inc. (UHS) will step down as CEO in January 2021, according to a press release Tuesday. Both Fortune Magazine and The Wall Street Journal noted Universal Health Services as having the highest return to shareholders (38%) of all healthcare providers for the 10-year period 1990-2000. Marc D. Miller , President, received a compensation package of $4.4M, which is about the same as previous year. Since … KING OF PRUSSIA, Pa., Sept. 8, 2020 /PRNewswire/ -- Universal Health Services, Inc. (NYSE:UHS) announced today that consistent with our longstanding succession plan, Alan B. 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