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Therapy Insiders
Therapy Insiders
Future Outlook of Healthcare w/ Richard Zhao

“The future depends on what you do today.”
― Mahatma Gandhi

In this episode of Therapy Insiders, we dust off our magical ball and look into the future. We know insurance sucks. We know healthcare is expensive. We need change is needed. But how well do most people know about insurance? Do the majority of people even know what insurance truly does and means? We delve into these questions with Richard Zhao, an insider… of different sorts. Richard has been on the inside of the insurance machine and provides a unique perspective on healthcare. Take a listen and let us know what you think.

This episode of Therapy Insiders is sponsored by WebPT: The ultimate EMR for physical therapists. Want to know why they are the ultimate? Check them out at and find out for yourself (seriously its more fun that way). Want a free demo? Of course you do! Give them a call at 866-221-1870!


About Richard (@richardzhao

Information below from Richard’s LinkedIn Profile:


Richard Zhao on Therapy Insiders


A performance driven contributor experienced in financial services and healthcare product development and business development in China market. Extensive experience in data analysis, financial modeling, business process improvement, and business Analysis. Strength includes strong leadership, problem-solving skills and strategic thinking. A great team player and leader with skills in:

• Data Analysis
• ICD-9/CPT/HCPCS Claim Analysis
• Business Strategy
• Financial Modeling
• LEAN/Six Sigma
• Business Process Improvement
• Treasury Management
• Mortgage Post Closing
• Financial Analysis
• Equity Analysis
• Accounting/Finance Work Flow
• China market Business Development

Graduated from Wells Fargo Leadership Program with a successful track record of leadership. Demonstrated quality of strategic vision and achieving goals through business process improvement, cultural change and implementation roadmaps. I understand business and people.

Career focus:
• Data analytic based business model building for innovative healthcare programs.

• Business Process Engineering with proven success in business process improvement, turning around performance and culture changes through continuous improvement.

• Economic and Financial Advise on macro economic trend/event and equity valuation. Successfully influenced a Chinese state owned conglomerate to avoid investment loss on interest rate derivatives and strategic investment.

• International Market Development for the fastest growing economy – China. As a native speaker and many years real business experience among different industries in China, I had successfully helped multinational companies to kick off businesses in China.

Specialties:*** Industry Experience:
• Banking
• Mortgage
• Healthcare insurance product development
• Medical device
• Commodity future and option
• Internet Business Development
• Automation and instrumentation

*** Skill Set:
• Treasury Management
• Accounting and Finance work flow improvement
• Lean/Six sigma
• Economic analysis
• Equity analysis
• Valuation modeling
• Business Development
• Data analysis

*** Language:
• Mandarin Chinese – Native speaker
• English – fluent


Business Process Consultant

Wells Fargo Insurance

 – Present (1 year 2 months)

Business process improvement through either technology, operation or deep analysis
• Design business process and decision engine to increase service efficiency or reduce risk exposure
• Data mining for business managers to do ad-hoc reporting on operation and process analysis
• Writing BRD, UML for technology improvement projects

Business Analyst Consultant


 –  (6 months)Greater Minneapolis-St. Paul Area

– Helping client to define business process, software functions and business strategy on discharged patient home care services. All the transition care programs have to meet ACO standards.
– Combining tele-medicine and ACO together to generate new care delivery model.

Business Analyst Consultant – Product Development


 –  (1 year 2 months)Golden Valley, MN

Created saving strategies for different components of orthopedic program based on medical claim data analysis (evidence-based medicine analysis)

• Effectively or Proactively partnered with all stakeholders to define the business model for risk carve-out orthopedic insurance program, resulting in anticipated revenue of $2 PMPM.
• Creatively designed 3 mini models and approved by actuarial department for profit-sharing savings model.
• Analyzed all claim data (CPT, ICD-9, HCPCS) to establish COE and System of Excellence business model.

(Open)2 recommendations
  • Eric Richens
    Eric Richens
    Consultant at Keyot

    At Optum, Richard demonstrated the skills I value most in good business analysts. He was curious, logical, data driven, and…View

  • John Ragland
    John Ragland
    Business & Technology Consulting

    Richard is very good at analyzing complex business scenarios and articulating models that provides value. He always has the…View

Project Manager

Rels Settlement Service

 –  (10 months)Minnetonka, MN

Managed process and technology improvement projects and generating process improvement solutions

• Originated a template to combine business process initiatives with financial bottom line impact for project.
• Draft business requirement for related technology improvement project.

Economic Advisor

BTG Group – China State Owned Tourism & Hospitality Conglomerate

 –  (2 years 11 months)

Monitored a major equity investment and provided recommendation on strategic investment decision

• Successfully influenced Beijing Tourism Group to avoid major potential investment loss of investing in Blackstone Group for $100 million and $1 million for investing in Europe Interest Swap.
• Recommended expansion strategy for the company that Beijing Tourism Group invested and adopted by BTG senior leader.
• Provided economic analysis and recommendation on strategic investment.

Business Process Analyst (Assistant Vice President)

Wells Fargo Home Mortgage

 –  (2 years 6 months)Eagan, MN

Peak performer within business unit; change agent for business process improvement, operational culture change and technology innovation.

• Reduced loan volume forecasting error by 20% by selecting new predictive model.
• Initiated and implemented Lean and Six Sigma for Manufactured Housing loan at Final Documents department, resulting in 300% YOY productivity.
• led “Goal Patrol” cost per loan dashboard model for management to monitor and forecast all costs over loan processing volume and funding volume for Final Documents department.
• Applied statistical analysis method for analyzing missing final docs for Manufactured Housing loans in the inventory and applied the findings to prioritize procurement efforts.
• Conceived an idea of using a substitute set of documents to confirm lien perfection by conducting a thorough research on investors and state requirements on Manufactured Housing. This idea was approved by legal consul of Wells Fargo Home Mortgage.
• Developed a set of user-friendly tools for the Manufactured Housing team members to use in their daily work for lien perfection.
• Top performer analyst helped business unit cleaning up Manufactured Housing loan inventory in 2007.
• Initiated Activity Based Costing for Exception Management Team in combination with business process improvement.

(Open)3 recommendations, including:
  • Molla Worku
    Molla Worku
    Principal Engineer

    Richard brings a systematic approach to problem solving. I had the pleasure of working with Richard on multiple projects…View

  • Patti Lien
    Patti Lien
    Vice President at Wells Fargo Home Mortgage

    Richard brought strong business process skills to the team I led including Lean and Six Sigma. He helped the team think…View

1 more recommendation

Project Manager

Wells Fargo & Co.

 –  (2 years 1 month)Greater Minneapolis-St. Paul Area

Project Manager for the Wholesale Customer Strategy Group at Wells Fargo

• Engaged with customers every month to discover customer unrevealed needs and provide new and enhanced ideas to product. development, client services, sales and other related lines of businesses
• Analyzed customer’s accounting, treasury workflows and procedures.
• Consulted with high-value commercial customers for their accounting, treasury workflows and procedures to improve workflow efficiency, productivity and accounting control.

(Open)1 recommendation
  • Joseph Mognon
    Joseph Mognon
    Entrepreneurial executive

    Richard is a diligent, understanding, hardworking colleague who knows how to get the job right the first time. He has excellent analytical and organizational skills and isn’t afraid to voice his opinion.View

Financial Consultant (Internship)


 –  (4 months)Greater Minneapolis-St. Paul Area

• One of the team members that developed of Economic Value Added model for Cargill at Controllers’ Group.
• Revise Cargill Value Management Metrics (EVA model) and value drivers for Lead Controller to apply to performance evaluation for different businesses lines.
• Brought internal best practices to town hall format “Web Enablement Innovation Forum”.
• Creatively applied “5 accounting cycles” to Web enablement forum.


Minneapolis Grain Exchange

 –  (2 years)Greater Minneapolis-St. Paul Area

• Observed future and option markets and reported market moves and traders irregular trades
• Made presentation on hedging strategies to the Chinese Delegation invited by US Crop Council
• Selected to test National Corn Index, National Soybean Index electronic trading platform project

Business Development Executive

 –  (1 year)Beijing City, China

Created new business strategies in a team environment and built supporting business partnerships

• Created new business strategies in a team environment and built supporting business partnerships
• Provided analysis to senior management on potential s and major competitors’ strategies
• Established strategic partnership for eCommerce, portal, email projects business partners

(Open)2 recommendations
  • Peter Fang
    Peter Fang
    Senior Director, Corporate Development at

    Richard showed everyone at NetEase that he was a great team player and is enthusiastic about developing new business…View

  • Amy Liu
    Amy Liu
    Analyst at Bear Stearns

    Richard did a great job when he worked at NetEase. His professionalism, creativity and dedication has benefited both the…View

Sales Manager

Honeywell International, China

 –  (1 year)Beijing City, China

Responsible for marketing and sales for pulping industry sales of Honeywell China

• Closed the 1st pulping control system contract for Honeywell, worth 3 million dollars.
• Successfully organized all aspects for Pulp/Paper trade shows under tight budget.
• Rewrote all marketing and technical brochures for China Pulp/Paper division.

Sales Manager

Bailey Control Beijing Ltd (ABB)

 –  (1 year)Beijing City, China

Responsible for sales of Pulp & Paper industry for Bailey Control Beijing

• Won the first pulping control equipment contract for Bailey in China market
• Establish sales strategies for niche markets in China.