Beyond the Bottom Line: Aligning Finance and Care, Kate Musler, Chief Financial Officer @Highmark Health Plan

HLTH Forward Podcast

In this episode, I sit down with Kate Musler, Chief Financial Officer of Highmark Health Plan, to talk about the incredibly complex puzzle of modern healthcare—where affordability, access, and quality must all coexist. Kate walks us through her path into the field and what has kept her here: the challenge of finding real solutions in a system that impacts every one of us.

We dig into the pressures of rising costs, the tough negotiations between payers and providers, and how Highmark approaches these conversations with patients at the center. Kate highlights the financial balancing act she oversees: keeping the organization stable and sustainable while ensuring people get the care they need when they need it. It’s a candid, eye-opening look at what it means to manage health insurance in a world where even small changes have massive ripple effects.

We also dive into the shift toward value-based care, where providers are paid for outcomes instead of volume. Kate explains why this model is essential—not just for reducing unnecessary treatments and lowering costs, but for building healthier communities over the long term.

But as she points out, transitioning to VBC isn’t easy; it requires visionary leadership, true partnership between payers and providers, and the financial flexibility to support those changes without sacrificing quality.

We explore how technology, community programs, and reinvestment strategies are helping bridge the gap between financial responsibility and compassionate care. And through it all, Kate shares her hope that collaboration, transparency, and innovation will move healthcare toward a future where both patients and providers can thrive.

About

In March 2025, Kate Musler was promoted to the C-suite of Highmark Health Plan, the health insurance arm of Highmark Health. In this role, Kate is responsible for providing strategic financial leadership for the Highmark Health Plan. She is responsible for developing, implementing, and maintaining targeted efforts to ensure the economic stability and viability of the Highmark Health Plan, including the transformation necessary to operate as a successful integrated delivery and financing system.

She first joined Highmark in 2019 as senior vice president of underwriting and swiftly moved up the ranks. During her tenure at Highmark, Kate has overseen various functions and ensured the financial stability of the health plan. In her previous role, she oversaw actuarial, underwriting, and provider network functions covering 7 million members. She was also responsible for efforts to create an advance payment program following the Change Healthcare cybersecurity breach that rocked the sector in 2024.

Her areas of expertise include underwriting, actuarial services, medical cost analysis, networking contracting and operations, and regulatory advocacy.

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