InnovAge Names Richard Feifer, MD, MPH, as Chief Medical Officer

Rhea-AI Summary

InnovAge Holding Corp. (Nasdaq: INNV) announced the appointment of Dr. Richard Feifer as its new Chief Medical Officer effective August 15, 2022. With extensive experience in healthcare, particularly in post-acute care and value-based payment models, Feifer aims to enhance InnovAge's clinical care delivery, focusing on medical, pharmacy, and behavioral health services. InnovAge specializes in providing comprehensive healthcare programs for frail, dual-eligible seniors, serving around 6,800 participants across 18 centers in five states as of March 31, 2022.

Positive

• Appointment of Richard Feifer as Chief Medical Officer to enhance clinical care delivery.
• Dr. Feifer has extensive experience in healthcare, positioning InnovAge for improved operations.

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• None.

DENVER, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Today, InnovAge Holding Corp. (“InnovAge”) (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to frail dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), named Richard Feifer, MD, MPH, as its chief medical officer (CMO) effective Aug. 15, 2022.

InnovAge President and Chief Executive Officer Patrick Blair said, “There is nothing more important than ensuring we are consistently delivering outstanding care for our participants. As a physician executive with a breadth of experience and proven leadership in post-acute care and physician practice management, clinical operations, value-based payment models, and managed care, Rich is a valuable addition to our executive leadership team.”

As CMO, Feifer will lead InnovAge’s clinical care delivery, including medical care, quality, pharmacy, dental, and behavioral health.

“I’m passionate about finding better ways to deliver efficient, high-quality care,” Feifer said. “My professional mission aligns perfectly with InnovAge and I’m very excited to apply my experience to support the Company in fulfilling its critical objectives. PACE provides a much-needed solution to the many challenges of efficiently caring for a medically complex and often underserved population and does so by aligning with what participants and families truly desire and value – aging in their own homes and communities.”

Most recently, Feifer spent six years at Genesis HealthCare in multiple leadership roles. As executive vice president and chief medical officer, he oversaw one of the nation's largest skilled nursing and long-term care providers, operating nearly 400 facilities in 26 states in 2019. At Genesis Physician Services, a Genesis HealthCare subsidiary with more than 450 physicians, nurse practitioners, and physician assistants in 2019, he served as president, navigating the successful transition to value-based care delivery. Also with Genesis HealthCare, Feifer launched and served as chief medical officer for the only national accountable care organization focused on nursing home residents, LTC ACO.

About InnovAge
InnovAge is a market leader in managing the care of high-cost, dual-eligible seniors. Our mission is to enable seniors to age independently in their own homes for as long as possible. Our patient-centered care model meaningfully improves the quality of care our participants receive, while reducing over-utilization of high-cost care settings. InnovAge is at the forefront of value based senior healthcare and directly contracts with government payors, such as Medicare and Medicaid, to manage the totality of a participant’s medical care. InnovAge believes its healthcare model is one in which all constituencies — participants, their families, providers, and government payors – “win.” As of March 31, 2022, InnovAge served approximately 6,800 participants across 18 centers in five states. https://www.innovage.com/.

Investor Contact:
Ryan Kubota
RKubota@MyInnovAge.com

Media Contact:
Sarah Rasmussen, APR
SRasmussen@MyInnovAge.com

FAQ

Who is the new Chief Medical Officer of InnovAge?

Dr. Richard Feifer has been appointed as the new Chief Medical Officer of InnovAge effective August 15, 2022.

What is InnovAge's mission?

InnovAge's mission is to enable seniors to age independently in their own homes for as long as possible.

How many participants does InnovAge serve?

As of March 31, 2022, InnovAge serves approximately 6,800 participants across 18 centers in five states.

What experience does Dr. Feifer bring to InnovAge?

Dr. Feifer has a breadth of experience in post-acute care, managed care, and value-based payment models.

When was Dr. Feifer appointed as CMO of InnovAge?

Dr. Richard Feifer was appointed as Chief Medical Officer on August 15, 2022.