Providence says next CEO has track record of transformation

The Providence health system didn’t take too long to find the successor to retiring CEO Rod Hochman.

Providence has named Erik Wexler, the system’s chief operating officer, as the organization's next CEO.

Two months after Hochman announced his plans to retire next year, Providence announced that Erik Wexler, the system’s chief operating officer, would be the organization's next CEO. Providence announced Wexler’s elevation Wednesday.

Wexler will take over as CEO on Jan. 1. Hochman, MD, gave Wexler a hearty endorsement.

“Erik has dedicated his entire career to making health care better for patients and caregivers,” Hochman said in a statement. “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.”

Read more: How Providence is making its hospitals more sustainable

Providence, a Catholic system based in Renton, Wash., is one of America’s largest nonprofit health systems, operating 51 hospitals and more than 1,000 clinics in seven states.

Wexler has spent more than 30 years in healthcare. He played a key role in Providence’s merger with St. Joseph Health in California in 2016, and the integration of the two organizations.

Providence also noted Wexler’s leadership in a partnership with Cedars-Sinai Health System to rebuild Tarzana Medical Center. The facility is now branded as Providence Cedars-Sinai and the organizations are teaming to deliver care.

In a video released by Providence, Wexler said the system is in the final stages of forming its strategy for 2025 through 2030.

“The key for us is to continue to innovate and to advance the delivery of care for those that we serve. But we've got to do it in a way where we're caring for the caregiver and we're caring for the physician, because if they are able to do the work that they do, and without the noise and difficulty of trying to do what is so important, then we'll be able to serve more people out in our communities,” Wexler said in the video.

Wexler also described an obligation he feels toward Providence’s clinicians.

“I trust our caregivers, our physicians, our clinicians, and I feel a very deep commitment to them based on the difficult work that they do every day,” Wexler said in the video.

Providence has experienced financial struggles in recent years. Providence ended 2023 with a net loss of about $600 million. That represents an improvement from 2022, when Providence had a $1.7 billion operating loss. Providence officials have said they are moving in the right direction as the system continues its economic recovery.

Providence is undertaking some ambitious plans. The system recently announced a $1.3 billion project that includes a new, 12-story tower for inpatient care for Providence Swedish in Seattle.

Michael Murphy, chairman of Providence’s board of directors, lauded Wexler’s “unwavering commitment” to Providence’s mission.

“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,” Murphy said in a statement. “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.”

Wexler joined Providence in 2016 and previously served as president of operations and strategy for Providence’s southern region.

Before joining Providence, Wexler served as chief executive for Tenet Healthcare’s Northeast Region. He also held leadership posts at Vanguard Health Systems and LifeBridge Health.

In a post on LinkedIn, Wexler said he joined Providence eight years ago because he felt “a deep personal calling” to the system’s mission

He also pointed to Providence’s 170-year history of caring for patients.

“I will preserve our rich tradition of service relentlessly. It is our north star as we respond to the signs of the times and transform health care in ways that allow us to keep serving all, especially those who are poor and vulnerable,” Wexler wrote.