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24 Hartford Business Journal • May 6, 2019 • www.HartfordBusiness.com 24 Hartford Business Journal • May 6, 2019 • www.HartfordBusiness.com C-SUITE AWARDS 2019 LeMay helps Masonicare streamline its processes By Liese Klein Special to the Hartford Business Journal W hen Masonicare went shopping for insurance in the early 2000s, the pickings were slim — few commercial providers were willing to underwrite the organiza- tion's portfolio of acute-care hospitals, skilled-nursing facilities and home- health agencies at a reasonable cost. "We found ourselves at a crossroads at that point," said Tracey LeMay, chief administrative officer at Masonicare, the Wallingford-based not-for-profit that is one of the state's largest pro- viders of health care and retirement living for seniors. "There was a hard market for professional liability." LeMay was part of the team to respond to the need by creating an insurance "captive" at Masonicare, an entity that allows an organization to basically self-insure. "The premise is working with actu- aries to pay a premium to yourself … to build a risk-management program to ensure that you're educating frontline staff on the best way to provide care and treatment to a patient popula- tion," LeMay said. Her lead role in creating the captive at Masonicare brought together Le- May's background in nursing with her passion for streamlining administra- tive processes to improve patient care. "My guiding business principles all revolve around quality and safety, providing good outcomes for the resi- dents and patients that we serve, as CATEGORY: CHIEF ADMINISTRATIVE OFFICER OF THE YEAR Tracey LeMay Chief Administrative Officer, Masonicare Size of organization: 2,500 employees Education: Southern Connecticut State University, bachelor's in nursing Previous job(s): Claim Director, Sedgwick CMS Continues on page 26 >> "My guiding business principles all revolve around quality and safety, providing good outcomes for the residents and patients that we serve." PHOTO | CONTRIBUTED