Healthcare in the United States has faced various challenges and transformations. The dedicated professionals in this industry have worked tirelessly to improve access to medical services for the nation's citizens. One industry professional stands apart for his years of dedicated service and ingenuity. Joseph S. Smith, the chief executive officer of HITvision, has worked as an agent of change and improvement in healthcare for 50 years. Having overseen the transition of the entire industry from paper to an electronic model, he now uses his skills to prepare for the next challenges facing America's healthcare system.
Smith formed his career with a strong educational foundation. In 1971, he received a bachelor's degree in industrial management from the Illinois Institute of Technology, a private university in Chicago. He later obtained a master's degree in business administration with a concentration in finance and financial management services from Loyola University Chicago.
During his graduate studies, Smith was introduced to various people who worked for Blue Cross Blue Shield, a major health insurer. The healthcare industry, which had limited technology interaction, intrigued him, and he saw the opportunity to contribute to the organization. He started working for Blue Cross Blue Shield in Illinois. He played a crucial role in building the Inter-Plan system, a communication platform for healthcare claims.
After retiring as senior vice president and chief information officer of Arkansas Blue Cross Blue Shield, Smith founded HITvision. With his expertise in information technology, he supported the internal integration of enterprise private business product portfolio, external healthcare partnerships, and delivery systems to deliver health information to healthcare professionals at the point of care.
Smith was awarded the Elite 8 Award in 2011 for his efforts in improving healthcare systems. He was later invited to help develop the national IT strategy at the newly established special office headed by Dr. David Brailer under the Department of Health and Human Services. Smith found this to be an exceptionally rewarding experience, in which he was involved in building the current electronic structure of the U.S. healthcare system. He also played a vital role in developing industry standards by working on several strategy standard-setting committees. In recognition of his contributions to the industry, he was added to the prestigious Marquis Who's Who list in May 2024.
Looking to the future, Smith would like to raise awareness of the five key strategic threats facing healthcare. Number one is the issue with access to care, particularly in rural America, where many hospitals are closing or downsizing. Similarly, more Americans may lack access to insurance in the future, as Medicare faces financial insolvency by 2036, and Social Security may be insolvent even sooner.
The second pressing issue Smith would like to address is the rising cost of healthcare, which is obstructing Americans from seeking care. The third major issue is the growing threat of cybersecurity, ransomware, privacy, and security attacks. As healthcare systems operate in the digital space, malicious actors could shut down systems or pose risks to consumers. The fourth major issue is public health threats such as pandemics, bioterrorism, and antibiotic-resistant viruses. Having witnessed the damage of the COVID-19 pandemic, Smith would like the industry to prepare for future widespread health threats. The final issue he would like to raise awareness of is the aging population of the U.S. and the rest of the world. These aging populations will require greater care and developments in geriatric medicine.
To address these top five challenges in healthcare, Smith emphasizes a solutions-oriented approach. "Those are threats and issues, but let's turn to opportunities," he states. He advises those entering or building their healthcare careers, "It is important to get yourself a basic understanding of these strategic issues and opportunities for the next 30 to 50 years." Driven by a mission to help others, Smith plans to continue sharing what he has learned across his expansive career. These efforts will build upon a legacy of advancements and improvements in healthcare for all.