- Anthony Tersigni, the longtime leader of one of the nation's largest hospital operators, Ascension, announced plans Thursday to retire at the end of the year.
- Tersigni has spent more than 15 years at the helm of the St. Louis-based chain. After he steps down Dec. 31, he will continue working with the company's investment fund and will also provide consulting services.
- His successor has yet to be named, though Ascension has been working on succession plans over the past two years, the company said Thursday.
Tersigni's departure comes at a tumultuous time in the healthcare industry. Major hospital systems are facing a number of headwinds, including dwindling inpatient admissions, as patients seek more convenient care.
Earlier this year, Ascension announced a shakeup to its leadership amid a larger restructuring as it tries to execute on a new strategic direction to cope with the stresses on the industry.
Despite a significant hospital portfolio, Tersigni said his organization needs to pivot away from focusing on its 151 hospital campuses and build out healthcare services communities, making the system more accessible.
Ascension reported a greater shift toward outpatient care in its first quarter of the fiscal year. Outpatient care now represents nearly 53% of the system's overall patient revenue. In 2018, Ascension reported total operating revenue of nearly $23.2 billion and income from operations of nearly $105 million.