Collective Health today announced that Karen Boone, former President, Chief Financial and Administrative Officer of RH, has joined its Board of Directors. Karen brings more than 20 years of experience in financial planning, and has led administrative functions including oversight of human resources, investor relations, accounting and legal. She will provide strategic guidance for Collective Health, which continues to make a dent in American companies’ $1.2 trillion annual healthcare spend—often the second biggest line item behind payroll—by offering self-funded employers a modern technology-driven approach resulting in a better benefits experience.
“We’re beyond thrilled to welcome Karen, whose track record as a leading financial and administrative executive for several global organizations speaks for itself,” said Ali Diab, Co-founder and CEO of Collective Health. “As a Collective Health customer during her time at RH, Karen’s first-hand experience aligning financial and HR teams, along with her acute understanding of generating ROI from a company's healthcare investment is invaluable to us and our clients.”
“There’s an evolution happening in the C-suite where companies are waking up to the idea that healthcare shouldn’t exist in a black box, rather it’s an investment to be optimized,” said Karen Boone. “We are all consumers of healthcare and we deserve a better user experience, just as employers deserve to understand where their spend is going and to demand more from their investment. Collective Health has the vision and leadership to make both happen, and is challenging the status quo by applying technology and design to today’s antiquated systems.”
Karen spent the last six years with RH leading several key financial milestones and transactions, including the Initial Public Offering in November 2012, and two public follow-on offerings in 2013. Her extensive experience in strategic and financial planning brings a unique perspective to Collective Health’s Board of Directors as the company continues to bend the healthcare cost curve for employers, while helping better align HR and Finance teams.
Prior to RH, Boone spent 15 years at Deloitte, most recently as an Audit Partner. In that time, she specialized in service primarily to retail and consumer products companies, including The Gap Inc., Williams-Sonoma, Inc., and Ross Stores, as well as health care company McKesson Corporation, among others. Additionally, Karen sits on the Board of Directors of Sonos and serves as the company’s Audit Committee Chair.
Karen joins fellow board members, including Mohamad Makhzoumi of NEA, Scott Nolan of Founders Fund, and Jeff Immelt, the former Chairman and CEO of GE.
About Collective Health
Collective Health is powering the Employer-Driven Healthcare Economy with the first Workforce Health Management System––giving employers a platform to simultaneously manage their healthcare investment and take better care of their people. With more than 120,000 members and 30 enterprise clients, Collective Health is reinventing the healthcare experience for self-funded employers and their employees across the U.S. Founded in October 2013 and headquartered in San Francisco, Collective Health is backed by NEA, Founders Fund, GV, Sun Life, and other leading investors. For more information, visit https://www.collectivehealth.com.