Morgan Stanley hired its first CMO

Amy Baxter | | Health Exec | Digital Transformation

Investment bank and financial services company Morgan Stanley has hired a chief medical officer for the first time in the firm’s history, according to Business Insider.

Morgan Stanley hired David Stark, MD, as CMO and head of HR data and analytics, with the intent to tackle rising healthcare costs and improve employee wellness. Stark, who was an assistant professor at Mount Sinai Icahn School of Medicine, also founded Lab100, a clinic and research lab built with Mount Sinai that became known as “the clinic of the future.”

The hire is somewhat unusual for the financial industry, but also highlights a rising trend of major employers seeking to lower healthcare costs for employees.

“We created this new role, uniting HR data and analytics with the role of chief medical officer, in order to foster innovation in employee wellness and health care coverage," Jeff Brodsky, chief human resources officer at Morgan Stanley, told Business Insider. "Harnessing our HR data, we can achieve better wellness for our employees and address rising health care costs."

See the full story below:

Morgan Stanley just took an unprecedented step to fix rising healthcare costs

Amy Baxter
Amy Baxter

Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."

Related Content

5 ways AI can help make healthcare more affordable for everyone
HIMSS survey report: Beware insider threats to cybersecurity involving AI
Primary care is primed for AI. But is AI aligned with primary care?
Machine learning vs. bodily pain: 5 points of promise and challenge
Generative AI isn’t changing everything for patients and providers—but it’s not leaving much unaffected, either
Antibiotics prescriptions: There’s a large-language model for that

Around the web

Cardiovascular Business
Boston Scientific enters renal denervation market with acquisition worth up to $540M

Boston Scientific has announced another significant M&A deal, scooping up an Israeli medtech company focused on RDN technology. 

Radiology Business
Shift toward imaging outside the hospital could save billions

Harvard’s David A. Rosman, MD, MBA, explains how moving imaging outside of hospitals could save billions of dollars for U.S. healthcare.

Cardiovascular Business
FDA announces catheter recall for Johnson & Johnson PFA system due to stroke risk

The recall comes after approximately 3% of patients treated with the device during the early stages of its U.S. rollout experienced a stroke or transient ischemic attack following surgery. The expected stroke rate is closer to 1%, the FDA explained.