Congratulations to 40 Under 40 Winner: Faris Ghawi, Co-Founder and CEO, Vytalize Health
Get To Know Faris:
Why is this candidate a good fit for 40 under 40?
Faris Ghawi's exceptional leadership and entrepreneurial achievements in advancing value-based medicine and transforming the healthcare delivery system make him a perfect candidate for the "40 under 40" recognition. As the CEO and Co-Founder of Vytalize Health, Faris has played a pivotal role in the success of the company, which is a risk-bearing provider enablement platform addressing significant healthcare challenges through its cutting-edge value-based care delivery system. Recognizing the need for a new framework in healthcare, Faris co-founded Vytalize Health in 2014 alongside his friend Dr. Amer Alnajar. Their mission was to build a better care delivery model for Medicare patients, focusing on improving care quality, reducing spending, and emphasizing human connection in a patient-centered, holistic approach. The initial practice in NYC provided comprehensive care, available 24/7 and on-demand, meeting patients wherever they needed it, including virtual and at-home care. Expanding their impact to New Jersey in 2016, Faris witnessed the extensive waste within the healthcare system. Realizing the need for a truly impactful business model, he made capital efficiency a core tenet of Vytalize Health. Instead of building new practices from scratch, Faris decided to deploy a data-driven, Medicare-focused care delivery model in partnership with other practices. This strategic approach has allowed thousands of providers across the country to partner with Vytalize Health and deliver high-quality, value-based care to seniors. One of the key reasons why Faris stands out as a strong candidate for the "40 under 40" recognition is his dedication to fostering collaboration among various stakeholders in the healthcare ecosystem. He understands the transformative potential of value-based care and has worked tirelessly to make it accessible and sustainable for providers and the entire industry. Faris has demonstrated his commitment to creating a highly efficient healthcare system that benefits payers, providers, and patients by empowering primary care providers and equipping them with the tools and resources to positively influence downstream healthcare utilization. Under Faris's leadership, Vytalize Health has achieved notable accomplishments, including developing and implementing innovative programs, intelligent technology solutions, and bold financial incentives. These initiatives have facilitated the company's rapid expansion into new markets and increased provider engagement in two-sided risk models, driving the widespread adoption of value-based care. Faris's ability to leverage actionable, data-driven insights and provide essential guidance during uncertain times has enabled primary care practices to successfully navigate the challenges of healthcare transformation. Furthermore, Faris's understanding of the challenges faced by primary care providers, such as financial pressures, staffing shortages, burnout, and a lack of education on the evolving healthcare landscape, sets him apart as a leader who truly empathizes with the healthcare workforce. His focus on protecting and rewarding physicians who deliver effective, data-driven care demonstrates his commitment to prioritizing patient outcomes and supporting the transition to an outcomes-based environment. His visionary outlook and unwavering commitment make him an influential figure in the healthcare industry, and his mission to create a more efficient and patient-centered healthcare system aligns perfectly with the values and goals of the "40 under 40" recognition.
Explain this candidate’s professional accomplishments:
As the CEO and Co-founder of Vytalize Health, Faris has achieved remarkable professional accomplishments in the healthcare industry. Under his leadership, Vytalize Health has solidified its position and gained recognition as a key player in transforming the healthcare landscape. The recent closure of a $100 million funding round for Vytalize Health, recognized as one of the top six megadeals of 2023, further highlights the company's compelling value proposition. Faris has fostered a culture within the organization that values social responsibility, equity, compassion, empathy, and advocacy. Vytalize Health's mission revolves around supporting primary care providers in delivering healthcare services to vulnerable populations, and these principles are integrated into every aspect of the company's operations. An outstanding achievement under Faris's guidance is Vytalize Health's commitment to improving gender equality in leadership. The organization has appointed twelve women to Vice President and Chief positions, demonstrating a solid dedication to inclusivity and promoting women in leadership roles. Additionally, Vytalize Health prioritizes health equity as a central pillar of its work in the Medicare community. Recognizing the existence of disparities in healthcare outcomes, Faris believes that value-based care, supported by data-driven insights and coordinated human intervention, can effectively address these inequities on a larger scale. The company strives to ensure that every patient, regardless of socioeconomic challenges, receives the necessary access, services, education, tools and technologies needed to achieve the best possible outcomes. Under Faris’s leadership, Vytalize Health has experienced significant growth and success. The organization has witnessed a remarkable 100% year-over-year increase in its patient base and has established partnerships with over 3,000 providers across 36 states. Vytalize Health effectively manages over $2 billion in healthcare services. Vytalize PCPs work with their Medicare patients 80% more than the national average, and as a result, save money while improving care. Engaged practices have achieved notable results, including substantial reductions in ER utilization, higher patient retention rates, cost savings, and increased revenue for physicians. Faris's exceptional ability to attract top talent serves as yet another testament to his professional accomplishments. Vytalize Health recently made a significant announcement regarding the addition of two new board members, highlighting the company's capacity to attract seasoned and influential individuals. The inclusion of former UnitedHealth Group CEO, Dave Wichmann, and Press Ganey President, Dr. Amy Compton-Phillips, brings a wealth of diverse experience to further advance Vytalize Health's mission in the field of value-based care. Through his visionary approach and collaborative culture, Faris encourages innovative thinking and challenges the status quo in healthcare. He aims to enhance industry efficiency, empower providers to work at the peak of their skill sets, leverage data for informed decision-making, and explore the potential of AI automation. By sharing knowledge and expertise with partners, Vytalize Health's multidisciplinary clinical team designs custom-tailored care plans that prevent hospitalizations, reduce healthcare costs, and improve patients' quality of life. Faris's professional accomplishments reflect his unwavering commitment to transforming healthcare through value-based care models, promoting diversity and equity, fostering growth, and attracting top talent to drive positive change in the industry.
How does the candidate show commitment to the industry and bettering their professional career?
Faris Ghawi has demonstrated his commitment to the healthcare industry and his dedication to bettering his professional career through several notable achievements: 1. Founding and leading Vytalize Health: Faris co-founded Vytalize Health with the mission of building a better care delivery model for Medicare patients. Despite his background in civil engineering and finance, he recognized the need for complex problem-solving and risk-taking to address the high-stakes challenges in healthcare. His passion for solving big problems with a large-scale impact led him to establish Vytalize Health, where he serves as the CEO. 2. Building a patient-centered care model: Faris's commitment to equity, compassion, empathy, and advocacy is reflected in the ethos of Vytalize Health. The organization strives to support primary care providers in delivering high-quality care to the most vulnerable populations. Vytalize Health aims to improve care quality and reduce spending by emphasizing human connection and holistic care. 3. Growth and success of Vytalize Health: Under Faris's leadership, Vytalize Health has experienced impressive growth. The company has expanded its patient base by 100% year-over-year and partners with over 3,000 providers across 36 states. With its all-in-one vertically integrated solution for value-based care delivery, Vytalize Health manages over $2 billion under management. Notably, Vytalize Health recently closed a remarkable $100 million funding round, which was recognized as one of the top six megadeals of 2023. 4. Results and impact: The engaged practices working with Vytalize Health have achieved significant outcomes. These include a 41% reduction in emergency room utilization, a 17% higher patient retention rate, a 9% cost savings, and a 10-30% increase in revenue for physicians. These results demonstrate the effectiveness of Vytalize Health's approach to value-based care and the positive impact it has on patients and providers. 5. Attracting top talent: Faris has successfully attracted C-suite talent from prestigious institutions and organizations, such as UCLA, Cedar Sinai, Village MD, Aledade, NASA, Ceras Health, MedPilot, and many others. This ability to attract top talent speaks to Faris's leadership and the recognition of Vytalize Health as an innovative and influential player in the healthcare industry. Through his visionary leadership, commitment to patient-centered care, impressive growth of Vytalize Health, notable results achieved, and ability to attract top talent, Faris Ghawi has demonstrated his unwavering commitment to the industry and drive to better his professional career.