The Empiric Health Advisory Board has selected Rick Adam as the new chief executive officer effective immediately. Rick will accelerate the company’s commitment to provide physicians and clinicians with the tools and support they need to make evidence-based care decisions.
Mr. Adam has had a distinguished career in leading technology and health companies. He most recently was the president and chief operating officer of Stanson Health located in Los Angeles, California. He has deep entrepreneurial roots after founding and leading several companies including Recondo Technology, a healthcare revenue cycle company, and New Era of Network (NEON), an infrastructure software company acquired by Sybase.
Mr. Adam is the first official chief executive officer for Empiric Health, which was formed in early 2017 under the visionary leadership of Intermountain Healthcare and Oxeon Partners. Empiric Health helps health systems identify variations in procedures and outcomes by using its proprietary analytics framework to facilitate data-driven insights. Activated with data, clinicians are able to optimize clinical outcomes and operations to generate measureable and sustainable cost savings.
“After conducting a national search, we are pleased to have Rick lead this incredible work,” says Bert Zimmerli, executive vice president and chief financial officer for Intermountain Healthcare. “Rick has a successful track record in delivering high quality healthcare solutions that provide demonstrable outcomes proven to make care more affordable. His extraordinary leadership in maturing new companies and building teams will enable Empiric Health to change how health systems identify care that does not add value, improve outcomes, and ultimately make healthcare more affordable for patients.”
The Empiric Health offering is based on a program created at Intermountain Healthcare headquartered in Salt Lake City, Utah. The program has saved Intermountain more than $100 million to date, and continues to drive results through supply savings, length of stay reductions, and other operational efficiencies, all while increasing the quality of care.
“We are delighted to welcome Rick as CEO of Empiric Health. A proven entrepreneur and CEO, Rick will accelerate early traction achieved with anchor customers, Intermountain and Loma Linda," says David Whelan, president, Oxeon Ventures and board member of Empiric Health. "Rick's appointment will ensure strong execution as Empiric scales and he will serve as an important foundation as we build the rest of our leadership team."
"As the industry moves through payment reform, the challenge is to maintain or improve patient outcomes while significantly reducing cost," says Rick Adam. "Empiric offers information to clinicians and healthcare leaders that activates evidence based care delivery. I am very excited and honored to be part of this opportunity."
For more information on Empiric Health, visit empirichealth.com.
# # #
About Empiric Health
Empiric Health is a technology-enabled service platform that lowers cost and improves outcomes for health system customers through data-driven physician practice change. Empiric differentiates with a proprietary comparative analytics methodology and proven ability to change physician behavior, so that care providers can understand and optimize for high value, episodic care. For more information, visit empirichealth.com.
About Intermountain Healthcare
Intermountain Healthcare is a Utah-based not-for-profit system of 22 hospitals, 180 clinics, a Medical Group with about 1,500 employed physicians and advanced practitioners, a health plans group called SelectHealth, and other medical services. Intermountain is widely recognized as a leader in transforming healthcare through high quality and sustainable costs. For more information, visit https://intermountainhealthcare.org.
Oxeon Ventures design, incubate, and build de novo or purpose-built-from-scratch healthcare companies. These companies are built independently, in partnership with entrepreneurs-in-residence, or co-developed with outside healthcare companies including leading health systems, such as Intermountain Healthcare, health plans, or technology and service companies. We develop and hone concepts and business plans and then leverage Oxeon Holding's service lines and vast network of relationships to bring founding leadership, product/market validation, enterprise clients and additional capital for these early stage companies. Companies developed inside of Oxeon Ventures include Docent Health, Risalto Health, and Empiric Health.