About Us

EntityRisk was founded by Dana Goldman, PhD, Darius Lakdawalla PhD, and Neal Masia, PhD  — three leading health economists bringing together decades of academic and industry experience to unlock financial innovation in the way new medicines are brought to patients.

Our data-driven solutions address the full spectrum of risk considerations ranging from the uncertainty of drug pricing and access to the uncertainty in real-world effectiveness, utilization, and value.

Our Team

Our growing, world-class team of economists, data scientists, software engineers, finance professionals, and cutting-edge academic experts is building the tools needed to enable financial innovation in healthcare.

Stella Arndorfer

Data Scientist

Katharine Batt, MD

Senior Clinician Scientist
Alice-Chen-Headshot

Alice Chen

Scientific Advisor

Perry Goldberg, JD

General Counsel /
Intellectual Property

Dana Goldman, PhD

 Co-Founder,
Scientific Advisor

Devin Incerti, PhD

Head of Data Science

Jeff Kindler

Advisor

Darius Lakdawalla, PhD

Co-Founder,
Chief Scientific Officer

Neal Masia, PhD

Co-Founder,
Chief Executive Officer

Andrew Morris

Senior Data Analyst

David Moules

Head of Sales and
Business Development

Dana Panzer

Head of Client Success

Charles E. Phelps, PhD

Scientific Advisor

Matthew Schoen

Advisor

Seth Seabury

Scientific Advisor

Jeffrey Sullivan

Head of Data Engineering

Sari Tower

Strategy / Business Development
Edward-Vytlacil-headshot

Edward Vytlacil

Scientific Advisor

Team Bios

Stella Arndorfer

Data Scientist
Stella Arndorfer is a Data Scientist at EntityRisk with experience in both clinical trial and real world data to answer questions related to drug efficacy and safety, temporal trends, as well as patient financial burden. Stella gained experience in evidence synthesis methodologies such as meta-analysis, network meta-analysis, and indirect treatment comparisons during her time at PRECISIONheor, formerly PRECISIONXtract, as an Associate Research Statistician. She then transitioned to Genesis Research as a Senior Analyst where she primarily supported real world evidence outcomes research leveraging claims and electronic health records data as well as comparative effectiveness studies utilizing matched-adjusted indirect treatment comparison methodology. Stella holds a B.A. in Philosophy and Statistics from St. Olaf College and M.Sc in Biostatistics from SUNY Albany School of Public Health.

Katharine Batt, MD

Senior Clinician Scientist
Katharine Batt, MD MSc is a physician-scientist, hematologist/oncologist with 10+ years serving as a scientific advisor on clinical trials, protocol design and multiple clinical and economic research projects, focused on patient reported outcomes’, health-related quality of life measures and value stories. She is currently consulting with big pharma, emerging biotech and health economic firms to align early phase clinical development and late-phase, real-world evidence generation, particularly as it relates to HEOR. Prior to this, Dr. Batt worked as a medical director with PRA Health Sciences, helping them to build out their benign hematology platform and better understand the economics of rare disease. From 2013-2018, Dr. Batt held faculty appointments in the Department of Internal Medicine, division of Hematology/Oncology, Department of Pediatrics, division of Hematology/Oncology and the Department of Social Sciences and Health Policy (SSHP) at Wake Forest University/Wake Forest School of Medicine where she served as Medical Director of the Hemostasis and Thrombosis Center and as principal PI on a number of industry-sponsored clinical trials. Dr. Batt completed her BA at Yale University, MSc in International Health Policy from the London School of Economics and Political Sciences (2000) and obtained her MD from State University of New York School of Medicine and Biomedical Sciences. She completed her Internal Medicine residency at Mount Sinai School of Medicine in NY, NY (2009) followed by an integrated fellowship in Hematology/Medical Oncology/Palliative Medicine (2013).

Alice-Chen-Headshot

Alice Chen

Scientific Advisor
Alice Chen is an Associate Professor of Public Policy at the USC Sol Price School of Public Policy. Her academic research focuses on improving the efficiency of health care markets. She examines supply-side responses to changes in financial incentives in the markets for physician services, hospital services, and medical innovation. Dr. Chen’s research has been published in leading economics, policy, and medical journals, and has been funded by the National Institutes of Health. Her work has also been cited in major media outlets, including Business Week, CBS News, Forbes, The Atlantic, and The Washington Post. Prior to earning her MBA and PhD in business economics from the University of Chicago’s Booth School of Business, Dr. Chen graduated with an AB and SM in applied mathematics from Harvard.

Perry Goldberg

General Counsel/Intellectual Property

Perry Goldberg is an attorney and entrepreneur. In addition to serving as General Counsel for EntityRisk, Perry is the co-founder and Managing Partner of the law firm Progress LLP. Perry’s legal career has focused on intellectual property creation, protection, acquisition and monetization, and he has helped clients earn more than $1 billion for their intellectual property. Perry graduated with honors from Harvard Law School in 1993. Prior to law school, Perry studied economics and finance at the Wharton School of Business, where he graduated in three years in the top 1% of his class.

Dana Goldman, PhD

Co-Founder, Scientific Advisor

Dana Goldman is the Dean of the USC Sol Price School of Public Policy, where he holds the C. Erwin and Ione L. Piper Chair and is a distinguished professor of public policy, pharmacy, and economics.  Dr. Goldman has served as director (now co-director) of the USC Schaeffer Center for Health Policy and Economics since its inception, establishing it as one of the nation’s premier health policy research centers.  He is an elected member of the National Academy of Medicine and the National Academy of Social Insurance – two of his field’s highest honors.   He is the author of more than 300 articles, and his research has been published in leading medical, economic, health policy, and statistics journals and other media.  He has raised over $170 million in support for health policy research—including more than $50 million from the NlH.  He has served as a health policy advisor to the Congressional Budget Office, Covered California, NIH, the Fred Hutchinson Cancer Institute, and several life sciences companies.  He serves as a scientific advisor to GRAIL and Biogen and was a co-founder of Precision Health Economics. Dr. Goldman is a member of the editorial boards of Health Affairs and the American Journal of Managed Care and was founding editor of the Forum for Health Economics and Policy. His work has been featured in the New York Times, Wall Street Journal, Washington Post, The Economist, NBC Nightly News and other media.  He is a former director of ISPOR and ASHEcon.  Dr. Goldman received his B.A. summa cum laude from Cornell University and a Ph.D. in Economics from Stanford University.

Devin Incerti

Head of Data Science

Devin has over a decade of experience spanning health economics, biostatistics, and software development. Previously, he was a Principal Data Scientist at Genentech working on statistical methodologies for combining real-world and clinical trial data.  Prior to Genentech, he was a Senior Economist at Precision Health Economics and the Lead Economist for the Open-Source Value Project at the Innovation and Value Initiative (IVI), where he performed research and developed software related to the value of medical technologies. Devin is an active contributor to the open source and health economics communities, including development of the R package hesim. He received B.A. degrees in Mathematics/Economics and Political Science from the University of California, San Diego, and a Ph.D. in Public Policy from Princeton University.

Jeff Kindler

Advisor
Jeff Kindler serves as Chief Executive Officer of Centrexion Therapeutics, a company focused on developing safe and effective, non-addictive treatments for chronic pain.

Kindler is also a Senior Advisor to Blackstone, one of the world’s leading investment firms, and an Operating Partner at Artis Ventures, a leading venture capital firm.   He also serves on the boards of Perrigo, an international manufacturer of private label over-the-counter pharmaceuticals; Precigen, a biotechnology company and Terns Pharmaceuticals, a clinical stage biopharmaceutical company. He is also Chair of the GLG Institute, a membership-based learning community for leading executives, and serves as a director or advisor to a number of private health care firms.

Kindler was formerly the Chairman and Chief Executive Officer of Pfizer, the world’s largest research-based biopharmaceutical company, which he joined in January 2002. As CEO, Kindler led Pfizer’s $68 billion merger and acquisition of Wyeth, diversified Pfizer’s product portfolio, improved its R&D pipeline, and reshaped the company’s commercial, innovation, and leadership models to drive growth and cultural change. He joined Pfizer as Executive Vice President and General Counsel and, prior to his appointment as CEO in July 2006, he served as a Vice Chairman of the company, responsible for Pfizer’s corporate affairs including worldwide legal, regulatory and patent matters as well as a range of public affairs and communications functions, and serving as a member of the four-person executive committee overseeing global business operations.

While at Pfizer, Kindler worked with former President Bill Clinton to help bring medicines to impoverished patients in the developing world through public-private pharmaceutical partnerships. He also represented the pharmaceutical industry in U.S. government healthcare reform efforts, helping to increase access to affordable medicines while preserving an environment in which pharmaceutical firms can discover and develop innovative treatments.

In 1996, Kindler joined McDonald’s Corporation as Executive Vice President and General Counsel, responsible for both legal and corporate affairs, and then moved into line management as President of Partner Brands, which included overseeing franchise, operations and marketing efforts for restaurant brands such as Boston Market, Chipotle Mexican Grill, Donato’s Pizza, and Pret a Manger. Before joining McDonald’s Corporation, Kindler was Vice President of Litigation and Legal Policy of the General Electric Company.

Prior to GE, Kindler practiced civil and criminal litigation as a partner at the Washington D.C. firm of Williams & Connolly. He began his career as an attorney at the Federal Communications Commission and served as a law clerk to Judge David L. Bazelon of the U.S. Court of Appeals of the D.C. Circuit and later as law clerk to U.S. Supreme Court Justice William J. Brennan, Jr.

Kindler earned his BA in 1977 from Tufts University summa cum laude and his JD in 1980 from Harvard magna cum laude, where he was an editor of the Harvard Law Review.

Darius Lakdawalla, PhD

Co-Founder, Chief Scientific Officer

Darius Lakdawalla is a widely published, award-winning researcher and a leading authority on health economics and health policy. He holds the Quintiles Chair in Pharmaceutical Development and Regulatory Innovation at the University of Southern California, where he sits on the faculties of the School of Pharmacy, Sol Price School of Public Policy, and the Leonard D. Schaeffer Center for Health Policy and Economics, one of the nation’s premier health policy research centers. His research has focused on the economics of risks to health, the value and determinants of medical innovation, the economics of health insurance markets, and the industrial organization of healthcare markets. His work has appeared in leading peer-reviewed journals of economics, health policy, and medicine, including the American Economic Review, Quarterly Journal of Economics, Health Affairs, the Journal of Health Economics, and the New England Journal of Medicine. In addition, his work has been featured by prominent popular press outlets, such as the Wall Street Journal, National Public Radio, Forbes, and the New York Times. Darius received his Ph.D. in Economics from the University of Chicago and his B.A. in Mathematics and Philosophy from Amherst College.

Neal Masia

Co-Founder, Chief Executive Officer

Neal Masia is co-founder and CEO of EntityRisk, Inc., a company using cutting-edge health economics to make treatment outcomes more predictable and more investable. He is also the founder of Health Capital Group, LLC, which advises healthcare companies ranging from startups to public corporations and major investment and consulting firms including Guggenheim Partners, Blackstone and EY.  Prior to his current roles, Neal spent 18 years at Pfizer Inc. As a member of Pfizer’s Senior Leadership Council, Neal advised the Executive Leadership Team and Board of Directors on how global economic forces shape the healthcare industry and he worked closely with the CFO on all strategic business development activities. Over the course of his Pfizer career, Neal built or redesigned major commercial and finance functions including Capital Strategy, International Treasury, Global Pricing, Real World Data and Analytics, Patient-Centered Outcomes, and Market Access/HTA Methods and Capabilities. Prior to Pfizer, Neal was a consultant at the Advisory Board Company, a special studies analyst with the U.S. Congressional Budget Office, a director of planning and marketing at a venture-backed insurance technology startup, and a senior policy advisor to Senator Bill Bradley. He has been an Adjunct Professor of Management and Economics at Columbia University since 2013, and serves on several boards including CaliberMRI and Jewish Family and Children’s Services. Neal earned a B.A. (High Honors) in Mathematical Economics from Colgate University and a Ph.D. in Economics (specializing in Public Finance and Game Theory) from the University of Rochester.

Andrew Morris

Senior Data Analyst

Andrew Morris is a Senior Data Analyst at EntityRisk and has spent over five years building and leveraging quantitative tools to solve problems in healthcare, finance, and technology. Andrew began his career at Cornerstone Research, where he worked on economic matters involved in high-stakes corporate litigation spanning healthcare, finance, and technology. He then led the data and analytics practice at FreshClean Apparel, a San Diego-based e-commerce brand. Andrew earned his B.A. in Mathematics and Cognitive Science at the University of Southern California, where he graduated a Renaissance Scholar and summa cum laude in 2017.

David Moules

Head of Sales and Business Development

Dave has over 30 years of experience in the U.S. health care sector and has spent most of his professional career working in the field of pharmaceuticals market access. Most recently, Dave was Senior Vice President of Pfizer’s Payer & Channel Access group that provided market access support for Pfizer’s U.S. Pharmaceuticals business. In leading Pfizer’s Payer & Channel Access group, Dave was responsible for providing strategic direction to the multi-function (trade and contract operations, contract strategy and analytics, marketing, account management) team responsible for establishing and maintaining collaborative relationships with Pfizer’s distribution business partners and payers (private and public sector) to ensure patients had safe, efficient, and affordable access to Pfizer’s portfolio of medicines and vaccines. Dave began his career in the healthcare sector with CIGNA HealthCare, one of the nation’s largest managed care organizations, where he held various positions in sales and sales management in a number of regions across the U.S. In 1994, Dave joined GlaxoSmithKline (GSK) as Senior Vice President at Diversified Pharmaceutical Services which was the PBM subsidiary of GSK. After spending three years with Diversified, Dave moved to GSK’s U.S. Pharmaceuticals Group where he held various leadership roles in GSK’s Payer Markets Division. Dave is a graduate of Colgate University where he received a B.A. degree in Political Science.

Dana Panzer

Head of Client Success

Dana Panzer is Head of Client Success at EntityRisk. Dana brings over 10 years of experience in the healthcare industry spanning product, operations and clinical work. Previously, she led a highly cross-functional research and development team at Flatiron Health focused on the derivation, validation and performance of high-value cancer variables such as progression, response and adverse effects from real-world data. Prior to Flatiron Health, Dana co-founded, cmorq a web3 banking platform and lead the product and operations. Dana began her career in healthcare as a provider (Physician Assistant) at Northwell Health. Dana earned a B.A. in Economics and Communications at Tufts University, an M.S. in Physician Assistant Studies at Stony Brook University, and an M.B.A. from Columbia University.

Charles E. Phelps, PhD

Scientific Advisor

Professor Phelps received his BA in Mathematics from Pomona College in 1965, an MBA (Hospital Administration) in 1968 and PhD (Business Economics) in 1973 from the University of Chicago.

Phelps began his research career at the RAND Corporation in 1971. During his time there, he helped found the RAND Health Insurance Studyand served as Director of RAND’s Program on Regulatory Policies and Institutions, analyzing environmental policy, California water policy, and US petroleum price controls.

In 1984, Phelps moved to the University of Rochester (UR), with appointments in the Departments of Economics and Political Science. From 1984 – 1989, he served as Director of the Public Policy Analysis Program. In 1989, Professor Phelps became chair ofthe Department ofCommunity and Preventive Medicine (now the Department of Public Health Sciences) in the UR’s School of Medicine and Dentistry. During his time as Department Chair, he created a new PhD program in Health Services Research and Policy. During these years, Professor Phelps has published over 60 peer reviewed articles covering the fields of health economics, health policy, medical decision analysis, cost-effectiveness analysis of various medical interventions, and other related topics. During his 24 years at the UR, Professor Phelps has served on the doctoral dissertation committees of 32 students (18 as Chair) in fields spanning economics, political science, health services research and policy, statistics and nursing. He also wrote a leading textbook in the field, Health Economics, now in its sixth edition (2017, (Routledge Press). In 1991, Professor Phelps was elected to the Institute of Medicine of the National Academy of Sciences (National Academy of Medicine since 07/15). In 1994, Professor Phelps was appointed as Provost (Chief Academic Officer) of the University of Rochester, a position he held until in August, 2007. At that time, he was named University Professor and Provost Emeritus, positions he now holds.

Professor Phelps has testified before Congressional committees on health policy (in 1973) and (in 1998, 1999 and 2005) regarding intellectual property issues, on behalf of the Association of American Universities and other higher education organizations. He has also served on three Institute of Medicine committees to develop new approaches for prioritizing vaccine development and subsequent use (2011 – 2014) and National Academies’ committee on affordable drugs (2016 2017). Professor Phelps has served on the Board of Trustees of the Council of Library and Information Resources (1998 – 2006, Chair 2004-2006) and the CenterforResearch Libraries (2004-2010) and the Board of Directors of VirtualScopics, Inc.(2006-2016, Chair 2014 – 2016) and the Board of Directors of the Health Care Cost Institute, Washington, DC. In 2016, he was appointed as Senior Fellow of the Leonard Schaeffer Center for Health Policy at the University of Southern California.

Professor has authored or co-authored four books – Eight Questions You Should Ask About Our Health Care System (Even if the Answers Make You Sick), (Hoover Institution Press, 2010), a new health policy book (Reform for All Seasons: An Enduring Fix for Health Care, Phelps and Parente, 2017, Routledge Press), Making Better Choices: Design, Decisions and Democracy (Phelps and Madhavan, Oxford University Press, 2020) and (in press), Valuing Health: The Generalized Risk Adjusted Cost Effectiveness (GRACE) Model (Phelps and Lakdawalla, 2023, Oxford University Press. The latter of these follows from an extensive collaboration with Darius Lakdawalla, PhD, University of Southern California, that importantly generalizes the widely used standard cost-effectiveness model.

Matthew Schoen

Advisor

Founder and CEO at MB Schoen & Associates. Founding Principal at Private Placement Insurance Products LLC; Concept Hedging LLC; DC Plan Insurance Solutions LLC. Co-inventor on over 15 patents related to insurance, financial products and risk mitigation.

Seth Seabury

Scientific Advisor

Seth Seabury, PhD, is an associate professor in the Department of Pharmaceutical and Health Economics at the USC School of Pharmacy and a senior fellow at the USC Leonard D. Schaeffer Center for Health Policy & Economics. His work examines how health policy and law impact delivery of care and patient outcomes. His research has been published in leading journals in economics, medicine and health policy and featured in major media outlets. His research has been funded by the National Institutes for Health, the Institute of Medicine, the National Institute for Occupational Safety and Health, the Agency for Healthcare Research and Quality, the California Department of Industrial Relations and the U.S. Department of Labor. He is a faculty research fellow at the National Bureau of Economic Research. Prior to joining USC, he was a senior economist at the RAND Corporation, where he was also the associate director of the Center for Health and Safety in the Workplace and a professor of economics at the Pardee RAND Graduate School. Seabury received his PhD in economics from Columbia University and received his BA in economics with highest honors from Kenyon College.

Jeffrey Sullivan

Head of Data Engineering

Jeff Sullivan is the Head of Data Engineering at EntityRisk. Previously, he led a multidisciplinary analytic team as the Senior Director of the Advanced Modeling team at PRECISIONheor (formerly Precision Health Economics). With engineering degrees from Cornell (M.S.) and CalTech (B.S.), Jeff brings fifteen years of experience applying the mathematical rigor and simulation techniques of engineering to the problems encountered in economics and health outcomes research.

Sari Tower

Strategy/Business Development

Sari has over 20 years of experience in the life sciences industry. In 2008, she launched Tower Advisors LLC to provide strategic consulting services and manage new growth initiatives for biopharma and health analytics companies.  Sari has advised start-up and mid-size companies on projects ranging from identification of new business opportunities, raising growth capital, and commercialization strategies for novel intellectual property.  For seven years, Sari served as a consultant and later as the Vice President of Business Development at Context Matters, a health economics data and technology company that was acquired by Decision Resources Group.  Sari’s previous work experience includes six years at Pfizer Inc. serving in a number of senior strategy and business development roles to evaluate industry trends and lead large company-wide initiatives to grow the US Pharmaceuticals Division.  Sari was also part of Pfizer’s Innovation Group, which identified novel business models and strategic partnerships to foster new business lines and operational efficiencies.  She developed significant financial experience and management skills from prior roles in investment banking at Morgan Stanley and in private equity investment at The Blackstone Group.  Sari earned a BA from Georgetown University and an MBA from Harvard Business School.

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Edward Vytlacil

Scientific Advisor

Edward Vytlacil is a Professor of Economics at Yale University. His research focuses on the micro-econometrics of treatment effects, causality and policy evaluation. In addition to his work in econometric methodology, he has published empirical work in labor economics, health economics, and corporate finance. He is a Fellow of the Econometric Society; Founding Member and former Director of the International Association of Applied Econometrics; former Director of the Cowles Program in Econometrics at Yale University, and current Director of the Econometrics Group for the NSF-NBER Conference on Econometrics and Mathematical Economics.  He is currently a Co-Editor of the Journal of Applied Econometrics and an Associate Editor of the Journal of Econometrics, having previously been an Associate Editor of Econometrica, Journal of Economic Literature, and Journal of Business, Economics and Statistics.