Coventry’s work comp division has recently gone thru some changes at the upper management levels. The overhaul has affected clinical ops, senior management, and sales, and according to insiders may not yet be complete.
Chris Watson is now COO, moving up after a stint of less than a year as COO of Coventry’s bil review operations (and a prior position as head of Coventry’s First Script PBM business). Derrick Amato, formerly COO, Clinical Services in the company’s New England offices) has moved out of Coventry, as has Peter Harn, who’s accepted a position as VP Corporate Sales at PMSI in Tampa.
Yet to be announced is the departure of one more senior member of the sales staff, who will be heading to a top slot at a regional work comp managed care company. (this is one of the worst-kept secrets in the industry as I’ve heard it from no fewer than three sources this week).
UPDATE – The individual who departed, Tom Shivers, has been named EVP of Healthcare Solutions Inc., a comp and auto managed care firm owned by Brazos.
Finally, Pat Sullivan, the well-regarded former head of marketing for Coventry Work Comp, has left as well.
So, what does this mean?
‘Big’ Coventry is continuing to look to reduce overhead and increase profitability, a path clearly and bluntly laid out by CEO Allen Wise when he took over what was then a struggling company a year ago. I have no idea if these changes were part of a bigger plan, or just coincidental, although the departure of four senior staff certainly reduces overhead, probably by a million bucks all in.
Jan
29
Joe
The latest Coventry “strategy” leaves one with a sense that what remains is far too little professional diversity at the senior management level.
Watson taking on the COO position leaves a huge clinical expertise gap in their organization structure.
Clients seemingly gain nothing from this re-org as best I can determine.
What they do get is a Dave Young clone/look alike who has no proven track record of success and little longevity in anything he has done at Coventry.
The “all in” $1M savings you site says little about the talent lost in this latest shuffle of the deck.
Coventry’s loss will be others (their competitors) gain and their clients may be rethinking the value proposition of working with such a one dimensionally focused service provider.
Will be interesting to learn of the 4th yet un-named sales leader who will be exiting. Revenue growth and retention are now at risk one would think?
Talent notwithstanding, if the Coventry work comp products or portfolio of services are not inherently of value, there is little that professional diversity at the management level to convert a sow’s ear into a silk purse!
There are other changes afront at Coventry that you have yet to discuss that flow from this latest organizational shuffle.
Account management formally headed up by First Health”er” alumini Art Lynch ,is now under Ken Loffredo their national sales leader.
Lynch is now the head of Product Development/Strategy. Seems odd someone who has no experience in bringing new products to market -is now leading this effort.Cutting edge ideas soon to follow?
Hows does Aetna W/C fit into this discussion? Do they have influence over the operations at Coventry W/C? How do you see this affecting the providers who are contracted with both Coventry and Aetna W/C?