Richard Cascio
Managing Director
Quick facts
Provides multi-project oversight, interim management, and healthcare financial and operational consulting services
Advises clients ranging from small community hospitals to billion dollar academic medical centers, physician practices, non-acute care providers and private equity firms
Globally recognized for his work in hospital turnarounds and performance improvements
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Richard Cascio is a Managing Director with the Alvarez & Marsal Healthcare Industry Group in New York and Miami.

Mr. Cascio provides multi-project oversight, interim management, and healthcare financial and operational consulting services to clients ranging in size from small community hospitals to more than $4 billion academic medical centers, physician practices, non-acute care providers, and private equity firms.

Known on a global basis for his work in hospital turnarounds and performance improvements, Mr. Cascio has more than 30 years of healthcare industry experience. His specialties include: turnaround management, performance improvement, strategic planning, corporate finance, physician group practice, mergers and acquisitions, buy- and sell-side due diligence, creditor relations, physician relations, governance and debt restructuring.

He recently served as CEO for University Health System (UHS), a newly incorporated not-for-profit entity formed via a public/private partnership with the Louisiana Department of Health and Hospitals. UHS consists of LSU Health Sciences Center – Shreveport campus, a 457-bed academic medical center and Level-1 trauma center, affiliated with the LSU School of Medicine, and the LSU Health Sciences Center – EA Conway campus, a 247-bed hospital located in Monroe, LA. Both hospitals serve as the safety net providers for the uninsured and under-insured in their communities. In his role as CEO, Mr. Cascio coordinated the public to private transition, which included the establishment of a new stand-alone multi-hospital system and the development of new human resources, financial, I/T, and patient care systems. The transition was accomplished in 135-days and to-date has generated EBIDA improvements of over $100 million.

Before A&M, Mr. Cascio served as managing director with FTI Healthcare; president of an international venture capital investment firm; president and CEO of a 730-bed, three-hospital healthcare system; president and CEO of a 369-bed tertiary-care medical center that received both the AHA Hospital Turnaround of the Year award and the Top 100 Hospital award; and chief strategic officer of a 400-bed tertiary medical center. As president and CEO of Palm Beach Health System, he led the merger of a 200-bed community hospital into the health system.

In addition, Mr. Cascio spent more than nine years with KPMG in New York and as the South Florida regional healthcare industry director, where he provided a broad range of audit and consulting services, including strategic planning, mergers and acquisition, business development and operational and financial turnarounds.

Mr. Cascio earned a bachelor's degree in mathematics from Adelphi University. He is a Certified Public Accountant (CPA) in Florida and New York and a Fellow in the Healthcare Financial Management Association. He is also a member of the American Institute of Certified Public Accountants, the Florida Institute of Certified Public Accountants, and the American College of Healthcare Executives.

He is treasurer and serves on the Board of Trustees for the South Florida Chapter of the National Multiple Sclerosis Society. NOTE: Alvarez & Marsal employs CPAs but is not a licensed CPA firm.