– USA, MA – CoPatient, the consumer’s trusted advisor for managing healthcare expenses, announced today that it has named Tom Torre as Chief Executive Officer (CEO). Torre, 53, has over a dozen years of healthcare industry leadership experience under his belt, and more than 20 years in financial services, payments and consumer engagement. He brings to CoPatient a proven track record of profitably growing businesses by driving product and services innovation and successfully leading them into new markets.
As CEO, Torre will tap his expertise in healthcare and payments to guide CoPatient as it makes moves to support consumers through all aspects of the increasingly complicated world of healthcare billing and financial management. Prior to joining CoPatient, Torre was founder and CEO of Alegeus Technologies, a leader in healthcare and benefits payments. Torre led Alegeus’ spinout from FIS Global and created a stand-alone business and brand. Under Torre’s leadership, CoPatient will optimize its services to support consumers during every stage of their healthcare journey.
CoPatient’s team of advocates work with individuals to analyze their medical bills, negotiate with hospitals and lower expenses – putting money back in the pocket of consumers. More than 80 percent of the medical bills that CoPatient analyzes provide opportunities for meaningful savings. On average, CoPatient saves its customers 40 percent on their medical bills. Since its launch in 2014, CoPatient has saved consumers more than $1 million.
Torre joins CoPatient during a time of strong growth. In the past year, the CoPatient team has tripled in size and will continue to expand, moving into new headquarters in downtown Boston this fall.
“Constant and rapid changes in the healthcare industry are disrupting the way services are provided, billed and paid for. CoPatient is at the forefront of this movement and has already had a real impact on how consumers navigate their healthcare expenses,” said Torre. “I will work hand-in-hand with CoPatient’s talented and experienced team so we can drive this change. I’m honored to lead the charge, and can’t wait to see where we take CoPatient.”
To accelerate CoPatient’s growth and innovation, Torre will work closely with co-founder Rebecca Palm, who will take on the role of Chief Strategy Officer (CSO) for CoPatient. In this role, Palm will continue forging industry partnerships and serving as the voice of all consumers as they face mounting costs and complex bills.
“The medical billing process is very opaque. Most consumers don’t know the cost of their healthcare procedure until they get the bill and almost no one has the knowledge or tools to manage the payment process, much less identify and correct common billing errors,” said Palm. “The missing link for consumer-directed healthcare, where consumers can actually take control of their healthcare spending, is ‘insight.’ It’s time to put consumers in the driver’s seat, and empower them to direct their own healthcare decisions in an educated and rational way. I look forward to working closely with Tom to make this happen.”
Prior to founding Alegeus Technologies, Torre was Senior Vice President and General Manager of Healthcare Payment Solutions at FIS Global. In his career, he also held management positions at other leading payments companies including Wright Express, Chase Manhattan Bank and GE Capital. He holds a Bachelor of Science in Systems Planning and Management from Stevens Institute of Technology.
“I am very excited that Tom Torre has joined the CoPatient team. He is the ideal person to lead the company through this next phase of rapid growth,” said Liam Donohue, Managing Partner of .406 Ventures. “Tom is a proven leader with exceptional entrepreneurial, healthcare and payments experience and a great vision for making CoPatient a very important company.”
About CoPatient
CoPatient is the consumer’s trusted advisor for managing and minimizing healthcare expenses. Leveraging crowd-sourced data and its proprietary technology platform, CoPatient’s team of advocates work to identify billing errors and overcharges, helping consumers correct mistakes on medical bills and saving them money. CoPatient was founded in 2012 and is headquartered in Boston.
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