Pat Basu
Partner at Chicago Pacific Founders
Crain's 40 Under 40
Dr. Pat Basu is a business leader 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 serves as a partner at the private equity firm Chicago Pacific Founders. Most recently, Pat served as Senior Vice President and member of the Executive Leader Team of United Health Group a Fortune 10 company leading provider of health services and health insurance. As division president of OptumHealth, he led several businesses for Optum, including revenue, profit and quality for OptumCare, the nation's largest physician practice and care delivery business. Pat oversaw a $9 billion P&L and more than 9,000 team members, regional executives, physicians and nurses. He also was a key senior executive in shaping UHG's population health and digital health strategy.
Previously, Pat helped cofound Doctor On Demand (DoD) a transformative, telehealth service which enables millions of patients to have a video visit with a physician or psychologist from the comfort of their smartphone or computer. Under Pat's leadership, Doctor On Demand grew into a covered benefit for over 30 million Americans with over 700 employers, health plans, and hospital clients. Pat supervised over 1,000 clinicians and 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 nation. Pat helped raise over $80 million from top venture capital firms to grow Doctor on Demand, which Goldman Sachs named the fastest growing health tech start up in 2014.
Pat held roles as President, Chief Operating Officer & Chief Medical Officer at vRad, the post merger entity of public traded firms Virtual Radiologic (VRAD) and Nighthawk (NHWK). Vrad delivered high quality, cost-effective and timely care to nine million patients annually with more than 2,500 hospital, provider and health plan clients. Through organic growth and acquisitions it 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.
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 100 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, Synchrony Financial (formerly GE Capital), Mckinsey and the AMA. Pat has advised six private equity firms directly as an operating adviser or board member. He is currently independent board member for two PE backed companies. Pat has been featured multiple times as an expert on national TV including CBS, Fox, NBC, WGN, NPR, and CNN.
Pat is a member of the Council on Foreign Relations, White House Fellows Foundation and Illinois State Board of Health. He serves on the Board of Directors for the University of Illinois and Stanford Medical Alumni Association. Dr. Basu is a Board Certified radiologist specializing in cancer care and has served as visiting faculty at seven major U.S. universities. 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 Consultant Physician of the Year Award.. Dr. Basu completed the Stanford Business School's Faculty Leadership Program. Dr. Basu delivered the 2014 Commencement 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.