Patrick Herguth was placed as the chief executive officer of Mynd Analytics in Mission Viejo, California. Mynd is a telepsychiatry company that has developed predictive analytics as a decision support tool to help physicians treat mental health conditions more effectively while also reducing costs. The company's proprietary physician-developed database and cloud-based registry and reporting platform includes more than 38,000 outcomes for over 10,000 unique patients, with the goal of providing objective, personalized data to assist physicians in the selection of appropriate medications for non-psychotic behavioral disorders. Mynd Analytics has broad patents (20 issued and eight pending) and strong clinical validation (100 peer-reviewed studies), with a customer base that encompasses government and non-profit agencies, hospital networks, and private insurers, as well as physicians and patients, and a target business model that incorporates managed care, VA/military, international single-payer countries, and multi-practice groups. In his role, Patrick is responsible for maintaining the organizational structure and management systems necessary to support the company in the most effective and efficient manner, focusing on strategy and vision, customer retention and business growth, external relations, operations, organizational leadership, industry relations, and community involvement.
Patrick comes to Mynd from Q-Centrix Corporation, where he served as chief operating officer. Q-Centrix is a technology-enabled healthcare services company created to improve the safety and quality of patient care through the use of market-leading technology, coupled with the industry's largest and broadest team of nurse-educated quality information specialists. Conducting in excess of one million quality data abstractions annually, Q-Centrix is a comprehensive quality partner to hundreds of hospitals. Patrick was with Q-Centrix for almost four years, growing revenue from $26 million to $50 million. During his tenure, the business was expanding at a 24% CAGR, which he increased to 35% in 2018. He also improved gross margin by reducing service delivery costs and transforming pricing from a cost-based to a value-based model, and transitioned multiple business process to a new platform to efficiently scale the operation and remain ahead of growth pressures. The ROI tool and marketing strategy Patrick developed enabled the organization to close multi-million-dollar, division-wide opportunities at a number of leading health networks and to expand into a solution for a new clinical area.
Previously, Patrick served at Avidyne Corporation as chief operating officer, interim chief financial officer, and president; at Planar Systems as vice president and general manager of the medical business unit; at GE Healthcare Technologies as a marketing manager and general manager; and at Eastman Kodak Company as a marketing manager in health imaging. He began his career with Hitachi Medical Corporation of America as a sales engineer and product manager for ultrasound products.
Patrick holds a bachelor's degree in applied and engineering physics from Cornell University and an MBA from Northwestern University. Outside of work, he enjoys practicing Brazilian Jiu Jitsu and taking advantage of his private pilot's license.