VAL Health: Behavioral Economics Consulting | Health Care | Engagement


We know health behavior change


Senior Leadership


Karen horgan                                       
Co-founder & CEO

Karen co-founded VAL Health to apply behavioral economics to improve health and health care. A proven expert in developing high impact behavior change and engagement programs, Karen is commonly found presenting at leading industry conference and private speaking events including SXSW, HIMSS, the AHIP Institute, and the World Economic Forum.

Prior to joining VAL Health, Karen was Chief Marketing Officer at Keystone Strategy, a consulting firm affiliated with experts from Harvard, University of Pennsylvania and MIT, where she led global client engagements to develop R&D and innovation solutions for Fortune 500 companies including PepsiCo, Microsoft, and Johnson & Johnson. Karen also previously led marketing and product management teams for early-stage technology companies and was a consultant with Bain and Company in Boston and Hong Kong. 

Karen holds an MBA from the Harvard Business School, a BA from the University of Pennsylvania and a BS from the Wharton School of the University of Pennsylvania.


Kevin Volpp
Co-Founder & Principal

Kevin is the leading authority on behavioral economics and health.  His work has developed and tested innovative ways to apply insights from behavioral economics to improve health outcomes by changing patient behavior and influencing provider performance. Kevin is the Founders President’s Distinguished Professor of Medicine and Medical Ethics and Policy at the Perelman School of Medicine and Professor of Health Care Management at the Wharton School of the University of Pennsylvania. He is also the founding Director of the Leonard Davis Institute Center for Health Incentives and Behavioral Economics.

Kevin has published more than 275 peer-reviewed articles and commentaries, including in The New England Journal of Medicine, the Journal of the American Medical Association, and Health Affairs. His research and ideas have been widely covered worldwide by media outlets such as The New York Times, The Wall Street Journal, The Economist, Good Morning America, the BBC, and National Public Radio (NPR). Kevin has received numerous awards including career achievement awards from NIH for his work on social and behavioral sciences and election into the National Academy of Medicine.

Kevin received his PhD from The Wharton School of the University of Pennsylvania, his MD from the University of Pennsylvania, and an AB from Harvard University.


David Asch
Co-Founder & Principal

David, a leading behavioral economist, advances individual and population health by improving how physicians and patients make decisions in health care and in everyday life, including the use of medical treatments and personal health behaviors. David is Executive Director of the Penn Medicine Center for Health Care Innovation.  He is the John Morgan Professor of Medicine and Medical Ethics and Health Policy at the Perelman School of Medicine, and Professor of Health Care Management and Operations, Information and Decisions at the Wharton School, at the University of Pennsylvania.

David is the author of more than 350 published papers and has received many awards. In 2018, the Robert Wood Johnson Foundation presented him with the David E. Rogers Award, which recognized his “major contributions to improving the health and health care of the American people.”

David received his MBA from The Wharton School of the University of Pennsylvania, his MD from Cornell University, and his AB from Harvard University.

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Senior Engagement Manager

Passionate about health care and health policy, Emily is a knowledgeable strategy consultant with experience leading projects across diverse health industry stakeholders. From project kickoff through completion, she works with clients to hone in on the true challenges and develop actionable solutions grounded in proven science. Emily regularly manages teams to develop solutions to drive initial and ongoing engagement, design custom incentives strategies, and improve specific and broad quality measures.  Prior to joining VAL Health, she was a Manager with PwC's Strategy& consulting group, focused on health care payers and industry new entrants and innovators.

Emily holds an MPH from Columbia University's Mailman School of Public Health and a BS from Emory University.


Arnab Chaudhuri
Senior Director of Technology

Arnab Chaudhuri is an accomplished software engineer and architect who has led engineering teams in developing a wide range of e-commerce and data-driven web and mobile applications. At VAL Health, Arnab is responsible for all technical components of the VAL Health Rewards platform. Prior to joining VAL Health, Arnab was a lead developer and manager of multiple engineering teams at TravelClick, where he led the development of web, mobile, and call center reservation systems as well as the implementation of reporting and analytics platforms to increase revenue and customer engagement for hotels. Arnab has previously produced diverse technology solutions for companies such as WeightWatchers, Kodak, IBM, and World Wrestling Entertainment. 

Arnab holds a JD from Cornell University Law School, and a BS in Computer Science from Duke University.

James Patton
Co-Founder & Chairman

Jim is a board-certified internist and has over twenty-five years of experience in building health care businesses as an investor, owner, and manager. He is a founder and co-owner of Millennium Oncology Management, a consulting and physician management company. He is a founder and board member of Advaxis, a publicly-traded immuno-oncology company. Previously, Jim was Medical Director and Vice-President of HealthExpress, a start-up focused on individual and employer health and wellness programs, and was an officer of Universal Health Services, a publicly-traded hospital management company. Jim has experience as a venture capitalist where he led investments in health informatics, biotechnology, and service providers. Jim served two years on active duty in the United States Navy as a general medical officer. He and David collaborated at the University of Pennsylvania on several projects in the field of medical decision making.

Jim holds a MD from the Medical College of Pennsylvania, an MBA from The Wharton School and a BS from the University of Michigan.


Advisory Board

George Loewenstein

Dr. George Loewenstein is the Herbert A. Simon Professor of Economics and Psychology at Carnegie Mellon University, a founder of the fields of behavioral economics and neuroeconomics, and one of the leading thinkers examining the interface between economics and psychology, with more than 100 publications in peer-reviewed journals on topics in behavioral economics. He is the former president of the Society for Judgment and Decision Making, a member of the Russell Sage Foundation Behavioral Economics Roundtable, and served on the board of the Society for Neuroeconomics. With a book on Behavioral Economics and Human Motivation, (Oxford University Press), he is a specialist on the topic of human motivation and on the motivational effects of economic and non-economic incentives.  He has also done extensive research on the topic of intertemporal choice (choices between immediate and delayed costs and benefits), on the regulation of visceral urges, such as hunger, pain and drug craving, and on decision making under risk. In recent years, he is one of a small group of behavioral economists who have been attempting to use the tools of their field not only to identify limitations in human decision making, but to improve it. He has worked closely with Kevin on a number of studies testing the effectiveness of patient incentives in a range of clinical areas including obesity, medication adherence, and mental acuity for older adults.

Awards and Honors
Honorary Doctorate of Science, University of Warwick (2014)
Best Paper Award (with Daylian Cain and Sunita Sah), Society for Business Ethics annual meeting (2010)
Hillel Einhorn New Investigator award, Judgment/Decision Making Society (1988)
Full List

PhD in Economics from Yale University
BA from Brandeis University



Dr. Patrick Conway is a practicing pediatric hospitalist and was selected as a master of hospital medicine from the Society of Hospital Medicine. He is the former Deputy Administrator for Innovation and Quality and the Director of the Center for Medicare and Medicaid Innovation (CMMI) at the federal Centers for Medicare and Medicaid Services (CMS). He is credited for being one of the driving forces behind the national movement to value-based care, with health care payments tied to quality and innovation. Elected to the National Academy of Medicine in 2014, Dr. Conway continues his commitment to deliver the best health outcomes and best service experience at the lowest cost for customers.

Awards and Honors
National Academy of Medicine elect
Presidential Rank Award, Distinguished Executive (president's highest executive honor)
Health and Human Services Secretary's Award for Distinguished Service
White House Fellow
Robert Wood Johnson Clinical Scholar

MD from Baylor School of Medicine
MSc from University of Pennsylvania School of Medicine
BS from Texas A&M University

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Matthew Press

Dr. Matthew Press is the Associate Medical Director of the Penn Medicine Primary Care Service Line where he leads practice transformation and population health management across a network of 80 primary care practices in the University of Pennsylvania Health System. He is also an Associate Professor in the Department of Medicine at the Perelman School of Medicine at Penn, where he practices general internal medicine and is engaged in research in the areas of population health and payment reform. Formerly, Dr. Press was a member of the senior leadership team at the Center for Medicare and Medicaid Innovation at CMS, where he helped develop and implement several new payment and care delivery models including ACOs, bundled payments, integrated mental health, and medical homes, as well as the Health Care Payment Learning and Action Network, a national public-private partnership dedicated to health care payment reform. His work has been published in The New England Journal of Medicine, JAMA, and Health Affairs and has been covered by The New York Times and the Associated Press.

MD from Brown University
MSc from RWJF Clinical Scholars Program at the University of Pennsylvania
AB from Brown University


Dr. Sara Bleich is a Professor of Public Health Policy at the Harvard T.H. Chan School of Public Health in the Department of Health Policy and Management. She is also the Carol K. Pforzheimer Professor at the Radcliffe Institute for Advanced Study. Dr. Bleich’s scholarship lies at the nexus of health policy and health services research. Her research provides evidence to support policy alternatives for obesity prevention and control, particularly among populations at higher risk for obesity. A signature theme throughout her work is an interest in asking simple, meaningful questions about the complex problem of obesity which can fill important gaps in the literature. Her research has been published in journals such as The New England Journal of MedicineHealth Affairs, and American Journal of Public Health and has been featured in outlets such as The New York Times, The Wall Street Journal, and National Public Radio.

Awards and Honors
White House Fellow as a Senior Policy Advisor to the U.S. Department of Agriculture and the First Lady’s Let’s Move initiative (2015-2016)
Excellence in Public Interest Communication, Frank Conference (2015)
Best Research Manuscript, Obesity (2012)
Most Outstanding Abstract, International Conference on Obesity (2006)
Full List

PhD from Harvard University
BA from Columbia University

Andrea troxel

Andrea B. Troxel, ScD is Professor of Population Health and Director of the Division of Biostatistics in the Department of Population Health at New York University School of Medicine. She is an elected Fellow of the American Statistical Association. Dr. Troxel is an expert on statistical methodology in the areas of missing data, longitudinal studies, and clinical trials. She has developed new approaches for handling non-ignorable missing data and informative observation processes in longitudinal studies, as well as innovations in the design and analysis of pragmatic trials. Dr. Troxel’s collaborative activities focus on oncology and behavioral economics; she has a wide range of experience with all phases of clinical research, including large-scale epidemiologic studies, early-phase clinical trials, and definitive randomized controlled trials. She has published more than 200 articles in peer-reviewed journals on these and other topics.

ScD from Harvard University
BS from Yale University