Louis Chenevert grew up in a middle-class family in Montreal, Quebec. He says he had a pretty normal childhood and became interested in business affairs and being an entrepreneur early on in life. He knew that if he maintained a focus on his career he could rise to great heights in the business world and so he made that his priority. He attended the University of Montreal’s HEC Montreal Business School and earned a degree in production management.
After graduating from college he was hired by General Motors. The person who hired him, Guy Hachey, saw he had a lot of potential and gave him the opportunity to manage this company’s Montreal production line. Hachey says that Louis Chenevert wasn’t much younger than himself and every time he rose to a new position he would hire Chenevert to replace him in his former position.
After working for GM for well over a decade Louis Chenevert left the auto industry behind and joined the aerospace industry. His first job in this industry was at Pratt & Whitney Canada. In 1996 he joined this company’s parent firm, Pratt & Whitney, at the executive position. His success here led to him joining this firm’s parent company, United Technologies Corporation, one of the biggest firms in the aviation industry. It is also a leader in other areas of the manufacturing industry. He eventually became the chief executive officer and chairman of the board.
One of Louis Chenevert’s biggest accomplishments was making the decision to invest in the next generation of plane engines known as the GTF engine. He says he knew this engine would revolutionize the industry given all of its advantages over prior generation engines. It was more fuel efficient, quieter, and didn’t cost as much to maintain. He invested $10 billion into this engine which is now used by over 14 commercial airlines around the world. He spent six years as the head of UTC before deciding to retire from this position. He is credited with getting this company on track and dramatically improving the processes they use to manufacture their products.
InnovaCare was founded by President and CEO Rick Shinto in 1998. He founded InnovaCare because he recognized that that was a need for functional expertise among physician groups across the world in a constantly changing market. He worked with the NAMM, an organization that he also joined in 1998 (North American Medical Management) in California to work on achieving this goal. NAMM and Dr. Shinto moved to partner with the The Straus Group in 2003, this caused InnovaCare to quickly grow and eventually acquire MMM Healthcare in Puerto Rico while still maintaining a good foot hold on its native soil.
InnovaCare with its cquisition of MMM Healthcare almost a decade ago, is currently focusing on improving healthcare in Puerto Rico. The territory has been devastated by Hurricane Maria and about 30% of it is currently without electricity. This also means that healthcare is greatly struggling in Puerto Rico, but after five months things are starting to change. InnovaCare has re-branded abandoned store fronts into clinics in order to serve Puerto Ricans affected by the hurricane while running the territory’s largest Medicare Advantage health plans. One of their makeshift clinics, Recargate, has seen over 20000 patients in a three month period as multiple Puerto Rican doctors have either left for the states or abandoned the trade. Recargate has been focused on providing disease prevention and prescription drug management for the underdeveloped territory.
Before the opening of Recargate and other “re-branded” clinics, a CEO of InnovaCare, Penelope Kokkinides met with President Trump to get funding for this operation and expand healthcare programs in Puerto Rico. Kokkinides mentioned how CMS (The healthcare program in Puerto Rico) has received cuts roughly estimating to $1 billion since 2011 and that states in the US have received significantly less cuts. She also talked about the economic ramifications of the cut funding, stating that if the Medicaid system collapsed in Puerto Rico, many would abandon the island for US, which would not only increase healthcare costs by three or four times for residents of Puerto Rico, but also citizens of the United States.
She also touched on the crucial role of woman in healthcare and how InnovaCare has been working with government programs in Puerto Rico to provide care to 560000 patients. Kokkinides’s impact to the meeting with the president was amazing, and CMS ended up receiving great adjustments that led to the new programs InnovaCare and the government have developed today.