Bruce Broussard will step down as president and chief executive officer of insurance titan Humana, owner of home health, pharmacy and primary care brand CenterWell, next year after serving more than a decade in the captain’s chair.
He will be succeeded in both roles on Jan. 8 by Jim Rechtin, who is currently the president and CEO of Envision Healthcare. Rechtin will report to Broussard “until the latter half of 2024,” according to a release, as part of the leadership transition.
“Leading this company and team of employees is an incredible honor,” Broussard said in the release. “As we work to make this a seamless transition in the coming months, I look forward to partnering with Jim. He brings a collaborative, thoughtful and innovative leadership style to our organization, making him a natural fit for the culture of today and the future.”
Rechtin has more than 22 years of experience in healthcare, and he is particularly versed in value-based care delivery and interactions with Medicare Advantage, according to the release. Before taking the helm at Envision, he was president of UnitedHealth Group’s OptumCare, a part of Optum, which is currently in the process of acquiring home health provider Amedisys.
He has also worked with dialysis firm DaVita Medical Group, where he was senior vice president of corporate strategy and president of DaVita’s California market. Rechtin has worked with Bain & Company, a healthcare mergers and acquisitions firm, and he also is native of Kentucky. Based in Louisville, KY, Humana is among the largest companies in the state.
“Jim brings a strong combination of operational, industry and CEO expertise,” Kurt Hilzinger, chairman of Humana’s board, said in the release. “His first-hand experience leading through challenges and opportunities of a changing health care services continuum will help accelerate our integrated care strategy at pace.”
In May, Envision Healthcare filed for Chapter 11 bankruptcy, brought on by reduced patient volume and workforce shortages amid the COVID-19 pandemic, as well as increased insurance claims denials, according to a statement from the company.
Broussard joined Humana in 2011 and became CEO in 2013. During his tenure, the insurer acquired Kindred at Home, which was later rebranded as CenterWell Home Health. Humana also grew its MA membership three times over under Broussard’s leadership, Hilzinger said in the release. Today, Humana has a customer base of more than 5 million, making it the second-largest MA provider in the nation.
