Press Release

Flume Health Names Healthcare Leader Richard Fu as Chief Growth Officer

Issued by Flume Health

June 1, 2022

• Richard Fu, a former Blue Cross Blue Shield executive, joins Flume to expand its footprint in commercial and other markets
• Flume also strengthens its leadership team with the promotion of Casey Hancock to SVP, Engineering and Grant Parker to VP, Sales

NEW YORK -- Flume Health, a Health-Plan-as-a-Service platform that eliminates the complexity of designing and managing healthcare plans, today announced that Richard Fu has joined as Chief Growth Officer. Fu brings almost 15 years of enterprise growth and corporate strategy leadership in the health insurance and health consulting industries. He will be an integral leader at Flume responsible for identifying and building key relationships in the commercial market. The company additionally bolstered its leadership team by promoting Casey Hancock to SVP of Engineering and Grant Parker to VP of Sales. 

Richard joins Flume Health during a moment of pivotal growth. Flume has rapidly evolved since its launch in 2020 from a challenger third-party administrator (TPA) that serviced self-insured employers into Flume OS, a Health-Plan-as-a-Service platform, that makes it easy to build and run individualized health plans. Flume Health serves as an API-enabled utility layer for both established and emerging health insurers as well as care providers to launch health plans tailored to the unique needs of specific patient populations. Challenger health plans Firefly Health and Radion Health already adapted Flume OS to launch their new health plans quickly, seamlessly, at scale, and without the usual administrative burden and complexity of running modern, tailored health benefits.

"Flume Health is a game-changer in healthcare," said Richard Fu. "Flume's technology has solved problems and unlocked endless opportunities for highly personalized health plans. Its potential is even greater. I'm honored to be part of an intelligent and inventive team in digital health and look forward to expanding Flume's footprint."

Richard Fu will be responsible for Flume's expansion into new strategic growth areas including the commercial self-funded market and beyond. Previously, he served as Chief Strategy Officer at Blue Cross Blue Shield of Kansas City where he was responsible for establishing the company's five-year strategic direction focused on personalization strategies to drive outcomes and value. Prior, Fu was a leader in Accenture's Health Strategy practice, where he advised clients across the healthcare ecosystem on growth strategies, innovation, and digital transformation.

As Flume continues its growth and expansion, it has fortified its leadership team by promoting key employees who have been the lifeblood of the company including Grant Parker and Casey Hancock.

• As VP of Sales, Grant Parker will determine and execute the go-to-market strategy, explore new business opportunities, and provide strategic guidance with client contracting and negotiations. Parker brings 10 years of sales and marketing leadership experience in the tech and digital health industries and is a foundational member of the company. Prior, he worked at 3D printing company Makerbot where he was the Senior Manager of Demand Generation and Marketing.
• As SVP of Engineering, Casey Hancock will accelerate Flume's innovative technology and infrastructure growth. Casey is also a foundational employee, helping build Flume's engineered technology from the first line of code to today's rapidly growing team. Prior, Casey co-founded VR company, eevo, with three Vassar classmates in 2014. He and his co-founders were placed on the coveted Forbes 30 under 30 list in 2019.

"Flume Health has already seen significant growth in 2022, and we're not even halfway through the year," said Cedric Kovacs-Johnson, CEO and founder, Flume Health. "This stellar leadership team is well-curated to continue the innovation and advancement that Flume has built thus far. Richard will be a valuable team member as we expand our possibilities and help the industry reimagine health coverage."

About Flume Health

Flume Health is the first digital platform for health plan administration, replacing traditional TPAs and empowering challenger and incumbent healthcare companies to design and launch powerful next generation, personalized health plans. A Health-Plan-as-a-Service, Flume eliminates the complexity of designing, managing, and launching personalized healthcare plans. Companies can leverage Flume's Health-Plan-as-a-Service operating system to overcome the administrative burden of running a plan, allowing plan providers to focus on member experience. For more information, visit www.flumehealth.com.

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