Tom Cowhey's Appointment as CFO: A Game-Changer for Athenahealth

Tom Cowhey Takes the Helm at Athenahealth

Athenahealth has appointed Tom Cowhey, the former chief financial officer (CFO) of CVS Health, as its new CFO, effective June 9. Cowhey's extensive experience in healthcare finance positions him well to navigate Athenahealth's opportunities and challenges in the health IT space. His predecessor, John Hofmann, resigned at the end of last year after just a year in the role, prompting the company to seek a new finance leader.

The Impact of Leadership Changes in Healthcare

Cowhey's appointment comes during a transformative time within the healthcare sector, particularly as companies like CVS manage leadership reshuffles to address shifting economic landscapes.

At CVS, Cowhey helped steer the company through significant financial challenges, such as a dramatic decrease in profits due to high medical costs affecting its insurance arm, Aetna. However, CVS also recently reported a buoyant 60% year-over-year increase in net profits, showcasing his capacity to drive improvements under pressure.

Experience That Matters

Before his role at CVS, Cowhey served as CFO at Surgery Partners, a firm specializing in ambulatory surgical care, and held various leadership positions at Aetna. This diverse background equips him with a broad understanding of both operational and financial aspects of healthcare, essential for a firm like Athenahealth, which focuses on electronic health records and health IT solutions.

The Future at Athenahealth

With Cowhey’s financial acumen, Athenahealth is poised for a growth trajectory focused on technological innovations in healthcare. His role will be crucial as the company seeks to expand and adapt amidst ongoing industry changes.