- Nancy-Ann DeParle is a senior partner and co-founder of Consonance Capital Partners and sits on major healthcare boards including HCA Healthcare and CVS Health.
- She previously led key federal health roles, including White House health reform director during the ACA push and CMS/HCFA administrator in the Clinton era.
- At CMS she drove tighter Medicare oversight, cutting improper payment rates from roughly 14% to under 7% and ramping up anti-fraud efforts.
- Her corporate board ties have drawn scrutiny when companies faced investigations or lawsuits, spotlighting governance, ethics, and regulatory-risk oversight.
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Nancy-Ann DeParle’s career demonstrates a rare span across regulatory, administrative, policy, and investment roles in U.S. health care. Her historic role as Director of the White House Office of Health Reform was central to the formation and passage of the Affordable Care Act (ACA), working closely with HHS Secretary Kathleen Sebelius and others to coordinate interagency strategy. Before that, as Administrator of the Health Care Financing Administration (HCFA, now CMS), she managed major programs including Medicare and Medicaid and undertook significant reforms including tightening oversight and reducing improper payments.
Transitioning into the private sector, DeParle co-founded Consonance Capital Partners in 2020, focusing on investing in healthcare companies, and she holds directorships at HCA Healthcare and CVS Health, among others. These roles provide substantial governance influence across both service delivery and regulatory touchpoints. Her board compensation in 2024 reflects active engagement: in the case of HCA, her total remuneration was over $330,000, split between cash and equity, with leadership roles on governance and patient safety committees.
However, serving on boards of companies that have faced allegations of fraud, mismanagement, or regulatory violations during or overlapping with her tenure raises potential reputational and ethical risks. While there is no evidence of her involvement in wrongdoing, scrutiny tends to increase in cases involving healthcare regulation and corporate oversight.
Strategically, DeParle remains a significant actor in shaping U.S. healthcare policy and industry structure via her private equity work, board influence, and legacy of ACA implementation. Key implications include the influence of regulated individuals switching to industry roles, the importance of board oversight in companies subject to regulatory risk, and how past public sector policy experience translates into investment strategy.
Open questions include: How will her private equity firm navigate conflicts of interest or public perception issues given her regulatory past? How do her company boards manage oversight of patient safety and regulatory compliance? What role might she play in future healthcare policy debates, given her deep connections in both public and private sectors?
Supporting Notes
- Current roles: DeParle is a Managing Partner & Co-Founder at Consonance Capital Partners; boards of HCA Healthcare, CVS Health, and portfolio companies including CVS, Embark Behavioral Health, Priority OnDemand, Sellers Dorsey.
- Government service: White House Director of Health Reform (2009-2011), Deputy Chief of Staff for Policy (2011-2013), CMS Administrator/HCFA (1997-2000), MedPAC Commissioner.
- Education: BA from University of Tennessee, BA & MA in Politics & Economics from Balliol College, Oxford, JD from Harvard Law School; Rhodes Scholar.
- Medicare payment reductions: As HCFA administrator, oversaw reduction of Medicare improper payment rate from approximately 14% in 1996 to under 7% by 2000.
- Board compensation and governance: At HCA, she earned ~$334,966 in 2024 with retainers and RSU grants; chairs the Nominating & Corporate Governance Committee, member of Patient Safety & Quality of Care Committee; confirmed independent status.
- Scrutiny: In 2009, reports highlighted her board roles at DaVita, Guidant, etc., some facing investigations for fraud or compliance violations; uncomfortable optics though no evidence of her direct knowledge or involvement.