Alvarez & Marsal (A&M) has hired Boston-based Michael Niarchos as a Managing Director in the Health Plans and Managed Care practice of its Healthcare Industry Group. Mr. Niarchos will primarily advise health plans and healthcare systems on pharmacy operations transformation and pharmacy benefit management (PBM) strategies. This expanded capability reflects A&M’s response to the growing demand for solutions that address rising costs, stemming from rapidly evolving market dynamics, across healthcare sectors.

Mr. Niarchos has more than 17 years of experience working with organizations throughout the pharmacy ecosystem. Most recently, Mr. Niarchos was a Partner in Deloitte’s Healthcare Practice. While there, he led strategy and transformation engagements that helped healthcare organizations adapt to the changing pharmacy landscape and implement improvements to optimize their capture of the value chain. During his career, Mr. Niarchos has also driven multiple performance improvement efforts and supported the evaluation and selection of PBM platforms. He led the migration of more than 9 million members across multiple PBM platforms, including build, buy and outsource analysis, capability evaluation, and strategic roadmap development.
 
“The biopharmaceutical industry’s increasing importance to healthcare delivery and the evolution of the pharmacy model have made managing pharmacy costs a top priority. The simultaneous need to address regulatory and competitive uncertainty, alongside capturing critical margins within the healthcare industry, is driving demand for change and results that maximize value,” said Martin McGahan, Managing Director and co-head of the A&M’s Healthcare Industry Group. “Michael’s leadership and first-hand industry knowledge augments our ability to create solutions that help clients achieve long-term growth and profitability.”

Mr. Niarchos earned a bachelor’s degree from Wake Forest University, and an MBA from Emory University.