Board Dossier
CEO, HCA Healthcare · FAH Director · FAH Chair 2023
CriticalHCA Healthcare is the largest for-profit hospital operator in the world.
| Metric | Value |
|---|---|
| Hospitals | 190 |
| Sites | 2,400+ |
| States | 20 + United Kingdom |
| Employees | 313,000 |
| Revenue FY2025 | $75.6B |
| Net Income FY2025 | $6.8B |
| Medicare Revenue % | 15.3% |
| Medicaid Revenue % | 6.6% |
| FAH Board Since | At least 2013 |
| FAH Chair | 2023 |
In 2003, HCA paid $1.7 billion to settle the largest healthcare fraud case in U.S. history. Two subsidiaries pleaded guilty to criminal conduct.
“Billing practices included charging Medicare for Kentucky Derby tickets, double pension claims, and physician kickbacks through free rent and loans with no expectation of repayment.”
— DOJ press release, June 26, 2003| Year | Amount | Charges | Outcome |
|---|---|---|---|
| 2000 | $840M | Cost report fraud, kickbacks, upcoding | Criminal pleas, CIA imposed |
| 2003 | $881M | Additional civil settlements | 8-year CIA concluded 2009 |
| Total | $1.7B+ |
CMS rejected Mission Hospital's plan of correction on February 3, 2026, citing systemic and recurring patterns of harm.
Mission Hospital (Asheville, NC), an HCA facility, was placed under Immediate Jeopardy status by CMS in late 2023 and early 2024 due to systemic safety failures.
In 2006, KKR, Bain Capital, and Merrill Lynch took HCA private in a $33 billion leveraged buyout. In 2010, before re-listing, they extracted $4.25 billion in dividends.
| Year | Event |
|---|---|
| 2006 | $33B LBO by KKR, Bain Capital, Merrill Lynch. $11.7B existing debt assumed. |
| 2010 | $4.25B dividend recapitalization extracted by PE owners |
| 2011 | Re-IPO raises $3.79 billion |
Hazen earned $23.8 million in 2024. His median worker earned $60,820. The ratio: 391 to 1.
| Year | Total Compensation | CEO-to-Median | Median Worker |
|---|---|---|---|
| 2024 | $23,799,137 | 391:1 | $60,820 |
| 2023 | $21,315,984 | 356:1 | $59,812 |
| 2022 | $14,637,726 | 254:1 | $57,727 |
| 2021 | $20,637,808 | 348:1 | $59,303 |
| 2020 | $30,398,771 | 556:1 | $54,651 |
HCA's PAC raised over $510,000 in the 2021-2022 cycle. Hazen chairs the Nashville Health Care Council alongside two other FAH board members.
Hazen (HCA), Dill (Lifepoint), and Bonick (Ardent) serve simultaneously on the Nashville Health Care Council. Nashville is the headquarters of the for-profit hospital industry.
Source: HCA Good Government Fund (OpenSecrets); Nashville Health Care Council