New Managing Directors and Senior Director bring experience in hospital operations and strategy as the firm targets organizations facing financial and operational pressures.
Professional services firm Alvarez & Marsal (A&M) has appointed Seth Ciabotti and Christopher Smedley as Managing Directors and Elizabeth Gonzales as a Senior Director within its Healthcare Industry Group. The three will join the firm's Hospital and Health Systems practice, which advises health care organizations on financial and operational challenges.
The expansion of the team comes as hospitals and health systems face a combination of market pressures. In the announcement, A&M pointed to several industrywide issues, including shifts in federal funding, ongoing labor shortages, and the integration of new technologies into care delivery. The firm also noted that board governance models have not always evolved to match the pace of recent merger and acquisition activity, creating potential risks for organizations preparing for forthcoming reimbursement challenges, such as Medicare and Medicaid funding cuts.
"What was needed 10 years ago is not what is needed today," said Martin McGahan, Managing Director and Head of A&M’s Healthcare Industry Group.
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The new hires bring direct operational experience from within the health care sector. Ciabotti most recently served as CEO of MSU Health Care. Smedley was previously the Chief Operating and Strategy Officer at GW Medicine, and Gonzales joins from a leadership role at Premier, a health care improvement company.
Their collective experience includes enterprise cost transformation, physician alignment and performance improvement. The additions are intended to enhance A&M's services for health care clients, ranging from those experiencing financial distress to organizations pursuing strategic transformation and growth.
SOURCE: Alvarez & Marsal
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