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In 1989, at the age of 36, Mark A. Wallace was appointed president and chief executive officer of Texas Children's Hospital, one of the pre-eminent children's hospitals in the nation as well as the largest children’s hospital in the nation, treating 2 million children annually. In 1994, foreseeing the many changes in the health care industry, Mr. Wallace initiated the hospital's corporate restructuring and development of the Texas Children’s Hospital Integrated Delivery System (IDS), comprised of seven corporations including the hospital. Texas Children’s Pediatric Associates is a certified non-profit health corporation with the purpose of acquiring, managing, and affiliating with pediatric practices; Texas Children's Hospital Integrated Delivery System was created to effectively direct the overall integration of the business activities of the other corporate entities; Texas Children’s Health Plan was established to develop and administer an HMO to enable the Integrated Delivery System to develop a system for delivering quality pediatric care and ensuring access to care and insurance coverage for children; Texas Children’s International was developed to support pediatric health care efforts internationally; and Texas Children's Hospital Insurance Co. Ltd. is a single-parent captive insurance company providing liability coverages to Texas Children's Hospital and affiliated corporations. Cognizant of the crisis developing as a result of the nationwide declining interest in pediatric subspecialty training, Mr. Wallace and Dr. Ralph D. Feigin, physician-in-chief of Texas Children's, are leading an intellectual capital campaign called Generation to Generation to raise $75 million to fund and endow chairs, fellowships and other training positions as well as research and treatment programs in subspecialty services. Under Mr. Wallace's direction, Texas Children's completed an ambitious capital project in 1991, a $149 million facilities modernization and development program to add over one million square feet to the hospital’s campus. In conjunction with the expansion, the hospital's board asked Mr. Wallace to lead the hospital's "Building for Children" capital campaign to raise $67.5 million by 1995. The campaign was successfully concluded ahead of schedule in 1992, raising a total of $69.2 million and exceeding the campaign goal by more than $2 million. In response to continued growth in activity levels, Mr. Wallace again spearheaded the development of another major building expansion program, at a cost of $345 million, to add an additional 1.2 million square feet and increase the hospital’s licensed bed capacity from 456 to 715 beds. Expansion of the inpatient building and construction of a new clinic building was completed in 2001. Renovation of the existing clinic building, to become a dedicated pediatric research facility, was completed in 2002. Mr. Wallace again led a successful “Building for Children” capital campaign, raising $80 million. Under Mr. Wallace's leadership, Texas Children's has far surpassed its ambitious business plan, enabling the hospital to dedicate its financial resources to capital expenditures, the building expansion program, and its obligation to charity care. Due to the hospital's successful financial position and sound management practices, the 1999 bond issue to finance the current building expansion resulted in a Aa2 rating from Moody’s, a AA rating from Standard and Poor’s, and a AA rating from Fitch IBCA. Texas Children’s was the first children’s hospital in the U.S. with an Aa2 rating from Moody’s. In 1992, 1995, 1998 and 2002 Texas Children's Hospital received full accreditation with no type I recommendations from the Joint Commission on Accreditation of Healthcare Organizations (JCAHO). Texas Children’s is the only children’s hospital to attain this level of accreditation on four successive surveys. The Texas Children’s Hospital Integrated Delivery System’s initial survey in 1998 also resulted in accreditation with commendation. In addition to the oversight of a system-wide annual revenue budget in excess of $1 billion, Mr. Wallace’s responsibilities include the leadership and management of the IDS, development and implementation of policies and programs as delegated by the board of trustees, development and recommendation of strategic objectives, support of the highest possible standard of care and service, coordination with a medical staff of more than 1,550 physicians, and upholding the affiliation agreement with Baylor College of Medicine. To ensure the continued success of Texas Children's Hospital, Mr. Wallace works closely with the physician-in-chief and medical staff to foster a balance between the medical staff and the hospital to provide the best medical care available for children in the United States while fulfilling the hospital's mission of excellence in patient care, education and research. Funding from extramural research grants has increased to over $52 million, placing Texas Children’s among the top children’s hospitals in the nation. Prior to his position at Texas Children's, Mr. Wallace was a senior vice president at The Methodist Hospital in Houston, Texas, where his accomplishments crossed the full spectrum of healthcare management including both staff-related and extensive line operation responsibilities in a large, tertiary care, teaching environment. As an administrative resident at The Methodist Hospital, Mr. Wallace displayed extraordinary potential as a health care executive and was promoted to assistant vice president at age 24. In this capacity, he was given responsibility for a large portion of the hospital's nursing service and other departments. After only two years, Mr. Wallace was promoted to vice president and given responsibility for the majority of the hospital's staff and support departments, including Human Resources, Public Affairs, Medical Records, Legal and Governmental Affairs and Communications. When the senior vice president in charge of Methodist's Staff Services Division was reassigned to another area in August of 1983, Mr. Wallace, then 30, was promoted to senior vice president and given full responsibility for this operating division. In early 1985, Mr. Wallace consolidated the hospital's two largest clinical operating divisions into a single, all-encompassing Patient Services Division, designed to approach patient care from a product-line perspective in an efficient, streamlined manner. He led a combined operating unit comprised of 54 departments employing more than 4,200 employees. Revenues for this division were $451 million with an annual expense budget of $216 million. In 1983, in an effort to avert the potentially devastating financial impact of proposed Medicare prospective payment legislation, Mr. Wallace spent considerable time in Washington refining strategy and organizing opportunities for The Methodist Hospital to present an amended proposal to key legislators and government officials. As a result of Mr. Wallace's efforts, legislation was passed which included an amendment with provisions for adjustments to the prospective payment schedule, specifically relating to the national referral center status of certain hospitals like Methodist. In late 1984, The Methodist Hospital, under the guidance of renowned surgeon Dr. Michael E. DeBakey, decided to re-enter the field of organ transplantation. Working closely with Dr. DeBakey, Mr. Wallace created a multi-disciplinary structure involving the leadership of the hospital and its affiliated medical school, Baylor College of Medicine. Designated as one of the original seven Medicare-approved transplant centers, Methodist now has one of the largest and most active programs in the country. As a proven leader in health care, Mr. Wallace has influenced efforts at the national, state and local levels. Mr. Wallace holds the distinction of being one of the few executives in the country who advanced to Fellowship status in the American College of Healthcare Executives (ACHE) at the age of 35. Continuing his involvement with ACHE, he is past chairman of the Houston chapter. In 1987, Mr. Wallace was a recipient of the prestigious "Emerging Leaders in Health Care" award. This national award, co-sponsored by The Healthcare Forum and the executive search firm of Korn/Ferry International, recognizes executives who have demonstrated the potential to be major leaders in the health care field. Mr. Wallace's undergraduate alma mater, Oklahoma Baptist University, selected him to receive the "Profile in Excellence Award" in 1988, and in 1992, he was the recipient of the university’s “Alumni Achievement Award,” which honors outstanding alumni for special achievements and loyal service in their specific fields. In 1990, Mr. Wallace was elected to the Young Presidents' Organization, recognizing chief executive officers of corporations with substantial revenues who are under age 40. In 1992, the American College of Healthcare Executives awarded Mr. Wallace the Robert S. Hudgens Memorial Award as the 1992 "Young Healthcare Executive of the Year," which recognizes and honors young healthcare executives who have demonstrated outstanding leadership qualities. Mr. Wallace has testified before numerous government agencies as an advocate for children's health care and the funding of children’s health programs. Most recently, Mr. Wallace championed the effort to pass legislation establishing the Children’s Health Insurance Program (CHIP) in Texas. In 1992, Mr. Wallace served as president of the Children's Hospital Association of Texas (CHAT) and as chairman in 2002-2003. He also served as chairman of the board of trustees of THA, the Texas Hospital Association, in 1998-1999 and currently serves on the board of trustees of the National Association of Children’s Hospitals and Related Institutions (NACHRI). Mr. Wallace was a member of the board of directors of the Greater Houston Hospital Council and served as chairman in 1993-1994. He has also shared his professional experiences with aspiring health care executives by serving as an adjunct instructor in health administration at his alma mater, Washington University in St. Louis and Texas Woman's University in Houston. In addition to his many professional activities, Mr. Wallace participates in a number of community organizations. Mr. Wallace is a past member of the board of the Texas Gulf Coast chapter of the March of Dimes Foundation and served as chairman of the March of Dimes Walk America 1993 campaign in Houston. He has served on the board of directors of the Zoological Society of Houston, the board of governors of the Houston Forum, the board of directors of the Sam Houston Area Council of the Boy Scouts, and served as the corporate walk chairman of the Juvenile Diabetes Foundation’s 2000 Walk to Cure Diabetes. Currently, Mr. Wallace serves on the board of directors of the World Health & Golf Association, a non-profit organization supporting health care initiatives in the Houston area. He is also a member of the board of directors of the Greater Houston Partnership and serves as vice chair of the Partnership’s Flood Control Task Force as well as the Board of Directors of the Greater Houston Community Foundation. In addition, he is an active member of the Second Baptist Church in Houston, the Young Presidents’ Organization and the Houston Country Club.
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