Pat Basu M.D., M.B.A. is a business leader and entrepreneur who has served as a senior executive in the corporate, government, private equity and clinical sectors. A former Stanford Physician and White House Advisor, Pat currently is a partner at Chicago Pacific Founders, a Growth Equity firm. Most recently, Pat lserved as Senior Vice President at Optum and as a member of the Executive Leader Team of United Health Group. As a division president of OptumHealth, Pat held responsibility for a >$9 billion P&L and 9,000 team members, executives and clinicians. He was directly accountable for revenue, profit, med expense and quality for OptumCare, the nation’s largest physician practice portfolio and value based care business. Taking over 50% global insurance risk, OptumCare is the leader in payer-provider integration and driving better health quality and efficiency. He helped grow revenue by over 20% and earnings by more than 30%. He served as a senior executive on multiple UHG acquisitions and in internal oversight of Optum’s population health, behavior health and digital health businesses.
Previously, Pat cofounded Doctor On Demand (DoD) a transformative, telehealth service which enables millions of patients to have a video visit with a physician or psychologist directly from their smartphone or computer. Under Pat’s leadership Doctor On Demand grew into a covered benefit for over 30 million Americans with over 700 employer, health plans, and hospital clients. Growing the company from inception, Pat supervised over 1000 team members to expand access to affordable health care. Dr. Basu also served as President of one of the largest primary care groups in the U.S. Goldman Sachs named DoD the fastest growing health tech start-up in 2014. Pat helped raise over $80 million from top Silicon Valley venture capital firms and drive a 4x increase in valuation.
Formerly, Pat held roles as President, Chief Operating Officer & Chief Medical Officer at vRad, the post merger turnaround of publicly traded firms Virtual Radiologic and Nighthawk. Vrad’s 1,000 team-members delivered high quality, cost-effective and timely care to 9 million patients annually through more than 2,500 hospital, provider and health plan clients. Vrad grew into both the nation’s largest provider of radiology and world’s largest telehealth firm. He also served as President of one of the nation’s largest specialty physician groups with more than 500 full-time physicians and several hundred million dollars in revenue. During Pat’s tenure helping lead the turnaround; revenue, earnings, and customer NPS each grew >40% while enterprise value increased by >5x.
Pat took a leave from Stanford University to serve as a White House Fellow and Special Assistant, where he held a Top Secret Clearance and served at highest levels of Federal government to help execute portions of the economic and health agenda. Since leaving the White House, Pat has delivered keynote addresses at over 150 corporations, universities, governments and professional societies. He has served as a consultant to several Fortune 500 firms, venture capital firms and large hospital systems. He has served on advisory boards for Walgreens, GE, CareCredit, Mckinsey and the AMA. He has served on the Board of Directors for four companies and has advised six private equity firms directly as an operating board member. Pat has been featured multiple times as an expert on national TV including CBS, Fox, NBC, WGN, NPR, and CNN.
Civic Service, Education and Training
Dr. Basu is a Board Certified physician specializing in cancer care and currently cares for veterans of the U.S. armed forces in the VA Hospital System. He has served as Visiting Faculty at 7 major U.S. universities. Pat has served on the Council on Foreign Relations, White House Fellows Foundation, Truman Nat’l Security Fellow, Illinois State Board of Health and Institute of Government & Public Affairs. He serves on the Board of Directors for the University of Illinois and the Stanford University Medical Alumni Association. At Stanford, Dr. Basu also served as a Faculty Director of Health Policy and Finance where he taught Stanford medical and MBA students. He is a recipient of the AMA’s National Excellence Award for Leadership, Chicago “40 under 40” Award and Stanford Medicine’s Physician of the Year Award. Dr. Basu completed the Stanford Business School’s Faculty Leadership Program. Dr. Basu delivered the Commencement Address to the Senior 100 Honorary at the University of Illinois where he received his undergraduate degree in engineering with Honors. He received the Distinguished Alumni Award from the University of Chicago’s Booth School of Business where he received his M.B.A with Honors.