Ensemble Health Partners, which specializes in the management and collection of patient service revenue for Mercy Health-Cincinnati and other hospital systems nationwide, disclosed today it has hired a new chief financial officer.
Robert Snead previously was CFO of Owens & Minor, a Fortune 500 global health care services company based outside Richmond, Va. During his tenure as interim CFO and chief financial officer from June 2018 until November 2019, Owens & Minor had about $10 billion in revenue, more than 17,000 employees, and a products business unit with sales in more than 90 countries.
“We are very pleased to welcome Robert in this important role in support of Ensemble’s continued growth and excellence in health care revenue cycle management,” said Judson Ivy, founder and CEO of Ensemble, in a statement issued by the company. “Robert has a demonstrated history of proven results and a strong background in finance, strategy and health care. His skill set, leadership and experience will be a vital asset to Ensemble.”
Gary Bryant, who had served as interim chief financial officer of Ensemble since July, is departing the company.
Ensemble revenue was reportedly $333 million in 2018. In August 2019, Bon Secours Mercy Health completed the sale of 51% of Ensemble to Golden Gate Capital of San Francisco, a private equity firm that reportedly paid $1.2 billion in cash. Bon Secours Mercy Health retains minority ownership.
Blue Ash-based Ensemble has more than 200 health facility clients, which includes all Bon Secours Mercy Health hospitals in Ohio and Kentucky as well as Christ Hospital in Cincinnati. Ensemble checks insurance eligibility and submits bills to payers, but the firm also ensures that medical services are coded properly and fields questions about billing from patients.
“Ensemble has created a provider-centric (revenue-cycle) solution that generates impressive gains for its customers,” Snead said. “I’m excited to be a part of this team and to partner with the company’s operators in our quest for growth and driving even greater value for our customers.”
Snead spent nearly 10 years with Owens & Minor. Before becoming CFO in 2018, he had stints as the company’s group vice president for finance, vice president of strategy & corporate development and treasurer.
He joined Owens & Minor in 2010 as vice president for corporate development after two years as a director for health care mergers & acquisitions with Barclays Capital in New York. Before that he was a vice president with Lehman Brothers from 2004 to 2008. Earlier in his career, Snead advised companies on financial performance management and compensation plans with Stern Stewart & Co in New York and the Netherlands
Snead received a bachelor’s degree in commerce from the University of Virginia and earned an MBA from Columbia Business School.