CareAbout Health Announces Two Leadership Updates including Appointment of Rich Almada as Chief Strategy Officer
05 Mar 2024
Executive Change
Dr. Munish Khaneja Assumes Newly-Created Role of Chief Physician Officer
NEW YORK, March 5, 2024 /PRNewswire/ -- CareAbout Health, a leading healthcare management company, today announced two important leadership updates designed to position CareAbout Health for future growth and performance. Effective immediately, Rich Almada has been named Chief Strategy Officer, where he will have responsibility for the company's strategic planning and execution of all reimbursement models and payer contracts. In addition, Dr. Munish Khaneja, who previously served as CareAbout Health's Chief Strategy Officer, has assumed the newly created role of Chief Physician Officer, CareAbout Health.
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Source: PRNewswire
Ascend Capital Partners is a growth-oriented, healthcare-focused private equity partnership whose mission is to build thriving communities by investing in companies and entrepreneurs who are improving healthcare access, affordability, and quality for vulnerable and underserved populations. (PRNewsfoto/CareAbout)
"We are delighted to welcome Rich to the team and know his deep expertise in the sector will be a great complement to CareAbout Health's portfolio of businesses," said Dr. Nedal Shami, President, CareAbout. "With Rich's leadership in this role, we will continue to expand and innovate, while operating with the same commitment to clinical excellence for which we are known."
Prior to joining CareAbout Health, Rich served as Chief Operating Officer of Optum's risk-based entity – Advantage Plus Network-Connecticut – a joint venture between Optum and Hartford Healthcare. During this time, he also served as Senior Vice President of ProHealth Physicians, where he was responsible for leading the strategy of the Commercial, Medicare and Medicaid value-based arrangements. Previously, Rich served as the Vice President of Network Strategy and Contracting for a startup health insurance company where he successfully built out a robust commercial provider network. Rich started his career at Aetna where he held several roles including local and national Provider Network Management, HealthCare Economics and Mergers and Acquisitions Integration.
Dr. Shami continued: "With extensive expertise in value-based care and payer relations, Munish has been a foundational member of our team since CareAbout Health's inception who has been instrumental in shaping the organization's trajectory. Munish's transition to this new role is a significant milestone for the company as we embark on a new phase of growth, and we look forward to his continued leadership and contributions."
Prior to joining CareAbout Health, Dr. Khaneja served as the Chief Medical Officer of Altruista Health, Inc., where he oversaw clinical strategy and innovation across all products and services. Previously, Dr. Khaneja served as Vice President of Clinical Effectiveness and Pharmacy at EmblemHealth, where he was the Corporate Clinical Lead for Population Health and Value Based Purchasing, managing a $6 billion medical + pharmacy spend. Dr. Khaneja has served as the SVP and Chief Medical Officer of Affinity Health Plan and prior to that, as the CMO of Greater Hudson Valley Health Center (now Cornerstone Health). Dr. Khaneja's clinical experience was also a Hospitalist at Kings County Health Center in Brooklyn, New York. Dr. Khaneja presently maintains academic affiliation as an Assistant Professor of Medicine and Pediatrics at SUNY Downstate and SUNY Stony Brook Colleges of Medicine. He is a board member and advisor to numerous national organizations and corporations, and is a Fellow of the American College of Physicians.
About Ascend Partners
Ascend Partners is a growth-oriented, healthcare-focused private equity partnership whose mission is to build thriving communities by investing in companies and entrepreneurs who are improving healthcare access, affordability, and quality for vulnerable and underserved populations. Founded in 2019, Ascend is led by co-founders In Seon Hwang, former global head of Healthcare at Warburg Pincus and member of the Executive Management Group, and Dr. Richard Park, founder and former CEO of CityMD, a leading patient-centric healthcare services company in New York and New Jersey. For more information, please visit www.ascendpartners.com.
About CareAbout Health
CareAbout Health provides management, resources, value-add services, technology, and other support to its portfolio of medical groups and healthcare focused companies. CareAbout Health is helping align incentives to create a world where patients, providers, and payers work together in a seamless, coordinated manner toward common goals: higher quality, lower costs, better outcomes, and healthier communities. For more information, please visit www.careabout.com.
SOURCE CareAbout Health
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