--- title: "Oracle Health tops RCM CEO list; Health Catalyst swaps twice" description: "Health Catalyst has changed CEOs twice in 13 months, part of a CEO shuffle across 16 public RCM companies ranging from a $100M New Jersey firm to Oracle." canonical_url: https://clinicalterminal.com/article/107519457 section: people byline: Jordan Leahy date_published: 2026-10-20T20:25:58.004Z date_label: October 20, 2026 image: https://firebasestorage.googleapis.com/v0/b/clinical-ai-design.firebasestorage.app/o/desk-heroes%2Fmcp_AEX7z0iVMFBE%2Fhero_42500e8dffb2_w1920.jpg?alt=media source: https://clinicalterminal.com --- # Who runs public RCM: every CEO, smallest to largest *Sixteen publicly traded companies sell revenue cycle software or services into U.S. healthcare. They range from a roughly $100 million practice-billing company in New Jersey to Oracle, and three of them have changed or split the top job in the past 13 months, Health Catalyst twice. The two largest RCM outsourcers, [R1 RCM](https://app.clinicalterminal.com/company/100106) and [Ensemble Health Partners](https://app.clinicalterminal.com/company/100074), are private and are listed at the end for reference.* The roster covers companies listed on a stock exchange in the U.S., U.K. or India that have a published Clinical Terminal profile and a revenue cycle product or service line. Companies are ordered from smallest to largest by approximate market capitalization, drawn from public quotes in September and October 2026. Each chief executive was verified against company filings, press releases or trade reporting. | Company | Chief executive | Listing | Mkt cap | | --- | --- | --- | --- | | [CareCloud](https://app.clinicalterminal.com/company/100305922), practice RCM and EHR | [Stephen Snyder, CEO](https://app.clinicalterminal.com/person/101615900) | Nasdaq: CCLD | ~$0.1B | | [Health Catalyst](https://app.clinicalterminal.com/company/100784), revenue cycle analytics | [Simeon Kohl](https://app.clinicalterminal.com/person/106232121), CEO and President (since Sep 2026) | Nasdaq: HCAT | ~$0.13B | | [The Craneware Group](https://app.clinicalterminal.com/company/100923910), chargemaster and revenue integrity | [Keith Neilson](https://app.clinicalterminal.com/person/107519431), co-founder and CEO | AIM: CRW | ~$0.6B | | [Phreesia](https://app.clinicalterminal.com/company/100923836), patient intake and payments | [Chaim Indig](https://app.clinicalterminal.com/person/107519432), co-founder and CEO | NYSE: PHR | ~$0.64B | | [Veradigm](https://app.clinicalterminal.com/company/100009697), practice RCM and clinical software | [Donald Trigg](https://app.clinicalterminal.com/person/107519403), CEO | OTC: MDRX | n/a | | [Firstsource](https://app.clinicalterminal.com/company/100923713), provider and payer BPO | [Ritesh Idnani](https://app.clinicalterminal.com/person/104686508), Managing Director and CEO | NSE: FSL | ~$2.0B | | [Flywire](https://app.clinicalterminal.com/company/100923714), patient payments | [Mike Massaro](https://app.clinicalterminal.com/person/100963970), CEO | Nasdaq: FLYW | ~$2.2B | | [Sagility](https://app.clinicalterminal.com/company/100923881), payer and provider operations | [Ramesh Gopalan](https://app.clinicalterminal.com/person/106232729), Managing Director and Group CEO | NSE: SAGILITY | ~$2.3B | | [Huron](https://app.clinicalterminal.com/company/100923751), revenue cycle consulting and managed services | [Mark Hussey](https://app.clinicalterminal.com/person/107519430), CEO and President | Nasdaq: HURN | ~$2.6B | | [IKS Health](https://app.clinicalterminal.com/company/100923753), end-to-end RCM outsourcing | [Sachin K. Gupta](https://app.clinicalterminal.com/person/103499569), founder and Global CEO | NSE: IKS | ~$3.4B | | [Waystar](https://app.clinicalterminal.com/company/100058), claims, denials and payment software | [Matt Hawkins](https://app.clinicalterminal.com/person/201023), CEO | Nasdaq: WAY | ~$5.1B | | [Genpact](https://app.clinicalterminal.com/company/100923722), healthcare operations and extended business office | Balkrishan "BK" Kalra, President and CEO | NYSE: G | ~$6B | | [Solventum](https://app.clinicalterminal.com/company/100026), Health Information Systems: coding and CDI | [Bryan Hanson](https://app.clinicalterminal.com/person/200387), CEO | NYSE: SOLV | ~$15B | | [Cognizant](https://app.clinicalterminal.com/company/100923682), claims platforms and RCM services | [Ravi Kumar S](https://app.clinicalterminal.com/person/107519427), CEO | Nasdaq: CTSH | ~$27B | | [Experian](https://app.clinicalterminal.com/company/100923709), Experian Health: patient access and claims | [Brian Cassin](https://app.clinicalterminal.com/person/107519429), CEO | LSE: EXPN | ~$34B | | [Oracle Health](https://app.clinicalterminal.com/company/101143787), hospital revenue cycle inside the EHR | [Clay Magouyrk](https://app.clinicalterminal.com/person/106393217) and [Mike Sicilia](https://app.clinicalterminal.com/person/106623245), co-CEOs of Oracle | NYSE: ORCL | >$100B | | [R1 RCM](https://app.clinicalterminal.com/company/100106), end-to-end RCM outsourcing | [Joe Flanagan](https://app.clinicalterminal.com/person/200520), CEO | Private | $8.9B take-private | | [Ensemble Health Partners](https://app.clinicalterminal.com/company/100074), end-to-end RCM outsourcing | [Judson Ivy](https://app.clinicalterminal.com/person/200246), founder and CEO | Private | ~$12B valuation | Market caps are approximate, in U.S. dollars; Indian and U.K. listings were converted at prevailing rates. Veradigm trades over the counter while it works to become current on its SEC filings, so no reliable figure is shown. R1's figure is the value of its 2024 take-private and Ensemble's is the reported valuation of Thoreau's June 2026 investment; neither is a market cap. The smallest names cluster in practice billing, patient intake and revenue integrity, all under $1 billion. The middle band, from $1 billion to $10 billion, holds the outsourcers and the pure-play platforms, led by Waystar. Above $10 billion, revenue cycle is a division rather than the company: Solventum, Cognizant, Experian and Oracle each run RCM inside a much larger business. Health Catalyst has had three chief executives in 2026. Dan Burton handed the job to Ben Albert in February, and Simeon Kohl, a former Performant Healthcare chief executive, took over on September 14, with Albert moving to chief business officer, according to company announcements. At CareCloud, Stephen Snyder became sole chief executive on January 1, 2026, when A. Hadi Chaudhry moved into a chief strategy officer role focused on the company's AI platform. Oracle replaced Safra Catz with co-CEOs Clay Magouyrk and Mike Sicilia in September 2025; Sicilia's remit covers the industries business that includes Oracle Health. [Solventum](https://app.clinicalterminal.com/company/100026) announced on August 5, 2026 that it will separate its Health Information Systems business, the former 3M coding and documentation unit, through a spin-off, sale or merger with a larger health IT company. It has not named a route, a timeline or a chief executive for the business, so Bryan Hanson remains the CEO accountable for it until the separation closes. The biggest outsourcers stayed private. R1 RCM left Nasdaq in November 2024 when TowerBrook Capital Partners and Clayton, Dubilier & Rice completed an $8.9 billion take-private, and Joe Flanagan, who ran the company from 2016 to 2023, returned as chief executive on November 19, 2024. [Ensemble](https://app.clinicalterminal.com/company/100074) has never listed: it postponed a planned Nasdaq IPO in 2021, and in June 2026 agreed to a strategic growth investment from Thoreau, the Apollo-backed platform founded by Matt Holt, at a reported valuation of about $12 billion. Premier left Nasdaq on November 25, 2025, when Patient Square Capital completed its $2.6 billion acquisition. The roster is limited to companies with a published Clinical Terminal profile. Public companies with RCM businesses not yet covered, including UnitedHealth Group (Optum), Tenet Healthcare (Conifer), Claritev, Conduent, EXL and CorVel, are not listed. TruBridge, which IKS Health agreed to acquire in April 2026, is also absent. ## Sources - [Ensemble: Thoreau to make strategic growth investment, Jun 2026](https://www.ensemblehp.com/blog/thoreau-to-make-strategic-growth-investment-in-ensemble/) - [HIT Consultant: Thoreau investment values Ensemble at ~$12B](https://hitconsultant.net/2026/06/18/thoreau-makes-strategic-investment-in-ensemble-health/) - [Becker's: Joe Flanagan returns as R1 RCM CEO after take-private](https://www.beckershospitalreview.com/finance/6-things-to-know-about-r1-rcms-returning-ceo) - [CareCloud leadership promotions, effective Jan 1, 2026 (GlobeNewswire)](https://www.globenewswire.com/news-release/2025/12/29/3210893/16541/en/index.html) - [Health Catalyst appoints Simeon Kohl as CEO (Pulse 2.0)](https://pulse2.com/health-catalyst-appoints-simeon-kohl-as-ceo-and-president/) - [Health Catalyst appoints Ben Albert as CEO, Feb 2026](https://healthcatalyst.com/news/health-catalyst-appoints-ben-albert-as-chief-executive-officer) - [Craneware director share dealing naming CEO Keith Neilson, Mar 2026](https://www.stockopedia.com/share-prices/craneware-LON:CRW/news/director-apos-s-acquisition-of-shares-019e6a11-e5e6-7ee5-88de-745ab2e56af4/) - [Phreesia CEO Chaim Indig, Feb 2026](https://www.phreesia.com/news/phreesia-ceo-chaim-indig-named-to-the-software-reports-top-50-ceos-of-2025/) - [Veradigm files 2023 and 2024 Form 10-K (SEC exhibit)](https://www.sec.gov/Archives/edgar/data/0001124804/000119312526239289/mdrx-ex99_1.htm) - [Firstsource investor relations](https://www.firstsource.com/investor-relations/) - [Flywire Q2 2026 results](https://www.barchart.com/story/news/3645276/flywire-reports-second-quarter-2026-financial-results) - [Sagility Q3 FY2026 results](https://sagility.com/press-releases/sagility-reports-strong-q3-fy2026-performance-with-35-7-revenue-growth/) - [Huron investor relations](https://huronconsultinggroup.gcs-web.com/) - [IKS Health Q1 FY27 results (NSE filing)](https://nsearchives.nseindia.com/corporate/IKS2006_05082026221302_02_20260805PressReleaseSEFINAL.pdf) - [Waystar Q1 2026 results](https://finance.yahoo.com/sectors/healthcare/articles/waystar-holding-way-reports-q1-113954184.html) - [Genpact Form S-4/A signed by CEO, Oct 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/0001398659/000114036126038570/ny20078357x4_s4a.htm) - [Solventum Q2 2026 results and HIS separation](https://investors.solventum.com/news-events/press-releases/detail/152) - [Citeline: Solventum eyes spin or sale of health IT unit, Aug 2026](https://insights.citeline.com/medtech-insight/business/earnings/solventum-eyes-spin-or-sale-of-health-it-unit-as-3m-split-nears-end-raises-full-year-guidance-XIUWRIXMVBBV7IAXB4BLXJWQGE/) - [Cognizant share repurchase release, May 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/0001058290/000105829026000018/exhibit99151726.htm) - [Experian FY26 results (FCA)](https://data.fca.org.uk/artefacts/NSM/RNS/2e2e5d88-f28d-41db-a921-8061d0cfb262.html) - [Oracle 2026 proxy statement (SEC)](https://www.sec.gov/Archives/edgar/data/0001341439/000119312526402816/orcl-20260925.htm) - [Patient Square completes acquisition of Premier](https://premierinc.com/newsroom/patient-square-capital-completes-acquisition-of-premier-inc) --- Canonical article: https://clinicalterminal.com/article/107519457 Entity profiles referenced above resolve to https://app.clinicalterminal.com.