Mr. Savage brings more than 25 years of health plans, managed care and payer experience to bolster A&M’s sector expertise.

New York, November 28, 2023 – Leading global professional services firm Alvarez & Marsal (A&M) announced the appointment of Craig Savage as a Healthcare Industry Group Managing Director and Leader of its Health Plans and Managed Care practice. Recognized for his commercial and government-funded health plans and payers expertise, Mr. Savage’s appointment highlights the Healthcare Industry Group’s enhanced ability to deliver capabilities to further support health plan leaders’ top priorities.

Mr. Savage’s more than 25 years of experience will benefit health plans and managed care organizations seeking to drive growth, enhance provider and member experience, and modernize technology. Mr. Savage has worked across for-profit and not-for-profit public and private sector health plans, as well as dental and vision plans. His hands-on operator experience running SaaS solutions for payers across Quality (HEDIS/Stars) and Risk Adjustment/Accuracy will be a value-add to clients.

Martin McGahan, Managing Director and Head of A&M’s Healthcare Industry Group said, “Our health plans and managed care clients face continuous challenges with Medicare and government programs, value-based arrangements and cost optimization, and regulatory compliance. Craig’s industry track record aligns with our operational heritage and furthers our ability to help clients maximize value amidst complexity and change.”

Prior to joining A&M, Mr. Savage served as the President and General Manager of Inovalon’s Payer business, providing a portfolio of industry-leading cloud-based SaaS platform solutions that empower data-driven healthcare for a wide array of health plan and payer organizations. Additionally, he served as a Senior Vice President at Optum, Inc., a division of UnitedHealth Group., where he led a consulting team of more than1,000 people, serving health plans across six practice areas, including risk management & growth, government programs, health management & operations, payer technology, professional staffing, and digital transformation.

Mr. Savage commented, “A&M’s integrated platform and results-driven mindset provides health plan and managed care clients with the framework to mitigate risks while capitalizing on current opportunities and identifying future prospects. The firm’s commitment to helping clients drive change dovetails with my approach. Ongoing pressures to optimize value permeate the healthcare ecosystem and our innovative strategies and operational leadership make us well positioned to help clients transform, grow and thrive.”

Mr. Savage earned a bachelor’s degree in software engineering from Salisbury University. He has completed postgraduate executive development programs at the University of Pennsylvania’s Wharton School of Business, Harvard Business School, and Southern Methodist University. 

About Alvarez & Marsal

Companies, investors, and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.

With over 8,000 people across six continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M’s restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what’s really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.

To learn more, visit: AlvarezandMarsal.com.