Congratulations to 40 Under 40 Winner: Parth Shah, Vice President of Product, AssureCare
Get To Know Parth:
Age (as of December 31, 2023): 32
Hometown: Boston, and born and raised in India
Alma Matter: San Jose State & University of Bath
Number of Years of Experience in Healthcare: 6
Someone you look up to in the industry: Yousuf Ahmad - Talks about how many lives we can serve, not how many dollars we can make. Mark Cuban - Cost Plus - Truly is addressing the primary patient problem - Affordability & Transparency
Favorite Hobby: Watching Formula 1, Traveling, Trying new cuisines & restaurants, and playing pickleball
Favorite Movie of All-Time: Super 30, Forrest Gump, Lone Survivor, & Hacksaw Ridge
Your Favorite thing about healthcare: Service to people and helping them in times when they need it the most
Why is this candidate a good fit for 40 under 40?
Parth is a highly accomplished candidate who has made significant contributions to the healthcare industry through his innovative ideas and problem-solving skills. With a background in pharmacy, biochemistry, and an MBA, Parth brings a unique perspective to his role as the Vice President of Payer and Pharmacy products at AssureCare. Throughout his six years at AssureCare, Parth has consistently shown extraordinary commitment and dedication toward the organization's growth. He has a proven track record of successfully solving complex operational issues for customers, earning their trust, and becoming a reliable resource. Parth's ability to play any role required for the organization's success demonstrates his versatility and adaptability. Parth's journey at AssureCare is a testament to his dedication, commitment, and leadership in the healthcare industry. Starting as a Data Analyst in 2017, he quickly distinguished himself through hard work and determination. Parth has worked through various roles within six years to become the Vice President of Product. His passion for the industry, drive to make a difference, and unwavering commitment to improving patient care has been evident in his work. By taking on increasingly challenging roles and responsibilities, Parth has proven his ability to excel in healthcare. Parth's leadership qualities have been instrumental in his rapid growth within the organization. His ability to inspire and motivate others has allowed him to effectively lead teams and influence the outcomes of AssureCare's products. Under his guidance, the organization has developed innovative solutions directly impacting patient care. Overall, his accomplishments and meteoric rise within AssureCare highlight his exceptional work ethic, determination, and dedication to the healthcare industry. His contributions have not only benefited the organization but have also had a positive impact on patient care. Parth's innovative mindset, dedication to improving healthcare outcomes, and ability to think outside the box make him a promising and deserving candidate for recognition in the 40 under 40 healthcare innovation category.
Explain this candidate’s professional accomplishments:
Parth's leadership skills are evident in his role as the head of product at AssureCare. Under his guidance, the organization has successfully launched six new products in less than 24 months, all delivered on time and under budget. These products have had a direct impact on improving patient care and have the potential to generate over $5 million in additional SAAS revenue in 2024. Furthermore, Parth has established a strong team under his leadership, ensuring the right people are in the correct positions. He manages a group of around 35 individuals, including product managers, owners, designers, analysts, and program managers. His ability to build and lead a cohesive team is a testament to his leadership skills. In addition to his product development and team management achievements, Parth has shown a commitment to the industry and bettering his professional career. He has launched transformation projects to adopt industry best practices, improving the organization's quality and speed of delivery by 30%. Parth's dedication to providing patients with better healthcare is evident in his development of a patient engagement portal, allowing patients to have full control over their health records and participate in their care. Parth has also helped establish a very strong analytics framework and team that has successfully developed 70+ gaps in care algorithms and 40+ operational reports that some of our largest customers have leveraged today.
How does the candidate show commitment to the industry and bettering their professional career?
In addition to his other accomplishments, Parth has significantly contributed to patient care by developing various products and solutions. One notable example is the patient engagement portal he and his team launched, which gives patients full control over access to their health records on a handheld device. This portal integrates information from pharmacies and healthcare providers, creating a single longitudinal patient record. By empowering patients to participate in their own healthcare actively, this product has the potential to improve health outcomes significantly. Furthermore, Parth and his team have developed algorithms, such as medication non-adherence scores, that work in conjunction with the patient engagement portal. These algorithms help patients remember to take their medications on time, addressing a common issue that leads to hospital visits. By tackling medication adherence, AssureCare's and Parth's work directly impacts patient outcomes and reduces the need for hospital care. Parth also recognizes the importance of allowing healthcare providers to practice at the top of their licenses. To support this, he and his team developed a pharmacy management product that enables pharmacists to provide clinical services in states where they are licensed. This product streamlines the process of addressing gaps in care, such as drug adherence while dispensing medications. AssureCare's solution under Parth's leadership improves care delivery and ultimately leads to positive patient outcomes by eliminating the need for pharmacists to navigate multiple systems. Moreover, Parth has co-led a project to develop an AI/ML model that reduces the physician referral rate for pre-authorization. This tool decreases medical directors' time reviewing and approving services, resulting in timely and efficient patient care. Additionally, the model acts as a physician assistant, recommending appropriate courses of action for services requiring pre-authorization. The projected time savings from initial testing is at a minimum of 30% across all authorizations that need a medical director's intervention. This not only improves patient care but also leads to cost savings and a reduction in the overall cost of care. Overall, Parth's significant contributions to patient care by developing innovative products and solutions highlight his commitment to improving healthcare outcomes. His work in empowering patients, addressing medication adherence, and streamlining processes for healthcare providers demonstrates his dedication to bettering the industry and positively impacting patient care. These accomplishments make him a deserving candidate for recognition in the 40 under 40 healthcare innovation category.
