Joseph Zubretsky is the CEO, the President, and the Director of Molina Healthcare, meaning that he is the man in charge of one of the most notable managed care service providers in the United States. As a result for people who are interested in healthcare, he is someone that they might want to pay attention to. Here are 10 things that you may or may not have known about Joseph Zubretsky:
1. Joseph Means He Will Add
Joseph is a name that can be translated to mean “He Will Add.” It is interesting to note that there was a time when Joseph was much more popular with Jewish people than with Christians, though that started to change by the latter part of the Middle Ages. In the case of the Anglosphere, the name took off after the Protestant Reformation.
2. Studied at University of Hartford
Education-wise, Zubretsky studied at the University of Hartford, which perhaps unsurprisingly, can be found at a place called West Hartford in the state of Connecticut. There, Zubretsky studied business administration at the bachelor level, which is an education that he seems to have put to excellent use ever since.
3. Very Involved in the Financial Side of Things
Zubretsky’s career makes it clear that he has been involved in the financial side of things for a very long time. For example, he started out as someone who was involved in insurance. Furthermore, he has held positions involved with investments and risk operations, which are major components of the field of finance.
4. Has Experience from Aetna
Before he became part of Molina Healthcare, Zubretsky was at Aetna, which is another major player when it comes to healthcare. There, he held senior executive roles, which explains why he was entrusted with similar responsibilities at Hanover Insurance Group and then Molina Healthcare.
5. Became CEO Following Ousting of Previous Occupant
Zubretsky winded up becoming CEO in place of the interim CEO Joseph White. This happened because Molina Healthcare’s Board of Directors ousted not just the corporation’s previous CEO Mario Molina but also the previous CFO John Molina. With that said, Joseph White remained at the corporation as CFO.
6. Has to Balance Two Concerns
As CEO of Molina Healthcare, Zubretsky has to balance two important concerns. One would be the corporation’s mission of providing affordable access to healthcare for the disadvantaged. The other would be providing better returns to shareholders. Suffice to say that this isn’t exactly an easy task, seeing as how promoting the latter can very easily come at the expense of the former.
7. Doesn’t Believe that the Two Concerns Have to Be Mutually Exclusive
Zubretsky has stated that he doesn’t believe that the two concerns have to be mutually exclusive with one another. He has pointed to similar corporations with similar aims that have nonetheless managed to provide consistent and respectable concerns to their shareholders. Having said this, it is hard to imagine a senior executive at such companies voicing the opposite opinion.
8. Has Conducted Major Restructuring
Since Molina Healthcare’s Board of Directors ousted the Molina brothers because they were dissatisfied at the way that things were going, it should come as no surprise to learn that Zubretsky has conducted some major restructuring for the purpose of making it more profitable as well as more consistently profitable. For example, he went in with a plan to fire about 7 percent of Molina Healthcare’s workforce by the end of 2017, which worked out to about 1,500 employees in total.
9. Believes that Molina Healthcare Over-Expanded
Zubretsky has stated that Molina Healthcare over-expanded. As a result, its performance was hindered by the lack of the infrastructure needed to handle its own size. This is why Zubretsky decided to start by focusing on building that infrastructure to ensure a solid set of fundamentals before thinking about expanding the corporation’s revenue-earning operations once it was in place.