On Tuesday, Mount Sinai Health System — New York City’s largest — named Niyum Gandhi its CFO. He will succeed Donald Scanlon, Mount Sinai’s CFO since 2003. The organization said Scanlon will assist with the transition before stepping down in late 2020.
For the past five years, Gandhi has served as executive vice president and Chief Population Health Officer at Mount Sinai, a role in which he directed population health strategy and led the system’s transition from a fee-for service model of care to a value and risk-based population health model.
"As CFO, Niyum will lead our overall financial strategy to ensure our continued innovation and growth,” Mount Sinai President and CEO, Kenneth L. Davis, M.D., said in the release. "His broad health care and financial acumen will help us meet challenges head on as the healthcare industry continues to evolve."
As coronavirus grips New York City, new CFO Gandhi will apply his broad experience within the Mount Sinai system to continue providing strategic oversight for its population health efforts. As of Thursday, New York City has 2,480 confirmed cases of coronavirus. Many of the sick individuals will seek treatment from one of the eight hospitals comprising , Mount Sinai.
Under the value-based reimbursement model, Gandhi has also led Mount Sinai Health Partners—the clinically integrated network that includes all eight Mount Sinai hospitals, Mount Sinai's faculty physicians, and associated community doctors, according to the release.
"In his role, Mr. Gandhi has been instrumental in shaping the revenue strategy for the overall Health System." the release said. "He has built strong partnerships with those who pay for health care—health plans, employers, state and local governments, and community organizations—to provide patients with more affordable and effective care."
Scanlon, Gandhi’s predecessor, had expertise in financial administration, revenue cycle management, and asset maximization, which the release states was "critical" in helping Mount Sinai become financially stable.
In 2005, Scanlon oversaw a turnaround that resulted in positive net income, which the system continues to enjoy today. Per the release, the hospital credits Scanlon specifically with improving revenue capture and cash collection.
Before Mount Sinai, Gandhi was a partner in the health and life sciences consulting practice of management consulting firm Oliver Wyman, where he focused on financial planning, value-based health care, and hospital, physician group and health plan strategies.
At Oliver Wyman, Gandhi worked closely with numerous health care providers and payers, the release stated, helping them design and implement value-based clinical models, develop new contracting and integrated product distribution strategies, align funds flow and physician incentives, and establish the appropriate infrastructure to support value-based healthcare.