Other senior executives also cashed out as the company faced a $1.6 billion threat that wreaked havoc throughout the health care system.
On February 21, the same day that a ransomware attack began to wreak havoc throughout UnitedHealth Group and the U.S. health care system, five of UnitedHealth’s C-suite executives, including CEO Andrew Witty and the company’s chief legal officer, sold $17.7 million worth of their stock in the company. Witty alone accounted for $5.6 million of those sales.
The company’s stock has not recovered since the ransomware attack and has underperformed the S&P 500 index of major stocks by 8% during that time. In the two weeks following the ransomware attack, the company’s stock slid by 10.4%, wiping out more than $46 billion in market cap and greatly reducing the value of shares held by non-insiders. The slide continued for several weeks. On the day Witty and the other executives sold their shares, the stock price closed at $521.97. By April 12, it had fallen to $439.20.
“He (Witty) sold the shares on the same day that he learned of the ransomware attack,” said Richard Painter, a professor at the University of Minnesota School of Law who is also the vice chair of Citizens for Responsibility and Ethics in Washington. “That’s not good. For the SEC to prove a civil case of insider trading they just have to prove that it’s more probable than not that executives acted on inside information. CEOs have got to be a heck of a lot more careful.
You’re the CEO of a company, you should not be buying or selling the stock right in the middle of a material event like a ransomware attack. You’re asking for trouble. You’re going to end up with an SEC investigation. If that goes badly you could end up with a DOJ investigation.”
How much UnitedHealth’s C-suite executives sold in company stock on February 21, 2024:
Brian Thompson, the CEO of UHG’s insurance arm, sold $1.5 million on the same day. John Rex, then the CFO and now the CFO and president, sold $4.4 million, as did Dirk McMahon, now the former president. Chief Legal Officer Rupert Bondy, who would likely have to have signed off on the sales, sold $750,000.
HEALTH CARE un-covered is the first media outlet to report these disclosures.
The ransomware attack was caused at least in part by negligence on UnitedHealth’s part, Witty admitted at the Finance Committee hearing. He acknowledged that the company had failed to use multi-factor authentication — requiring more than just a password to access information — to secure its data. The cyberattack exposed the personal health information of as much as a third of Americans’ health information.
“This incident and the harm that it caused was, like so many other security breaches, completely preventable and the direct result of corporate negligence,”
Sen. Ron Wyden (D-Ore.) wrote to federal regulators on May 30. “UHG has publicly confirmed that the hackers gained their initial foothold by logging into a remote access server that was not protected with multi-factor authentication (MFA). MFA is an industry-standard cyber defense that protects against hackers who have guessed or stolen a valid username and password for a system.”
UnitedHealth exploited the crisis created by its own negligence to further entrench its position as the largest employer of doctors in the country,acquiring medical practices that were unable to pay their bills due at least in part to the chaos created by the ransomware attack. The American Medical Association is considering legal action against the company for the attack, with a proposal for its House of Delegates conference beginning June 8 stating that “Optum is the largest employer of physicians and has acquired practices when the ransomware disruption made those practices unable to survive without acquisition… Even the practices that survive will have ongoing damages including but not limited to denials related to giving therapy when it was impossible to obtain prior authorization, from using lines of credit and having to pay interest, from having billing departments and others work overtime to submit claims, to losing key employees from inability to make payroll.”
Other well-timed insider stock transactions
In April, Bloomberg reported that in the lead up to the disclosure of an FTC investigation into UnitedHealth’s monopolistic practices, other UnitedHealth insiders, including Chairman Stephen Hemsley, had sold $102 million worth of their shares.
News of that investigation and the stock sales led Sen. Elizabeth Warren (D-Mass.) and other lawmakers to call for an SEC investigation into the trading.
The disclosures revealed here, however, are potentially more incriminating: the executives sold the stock the same day the company became aware of the devastating ransomware attack. When Witty was supposed to be all hands on deck strategizing how to protect health care providers and millions of patients, he spent at least part of his day taking action to preserve his net worth.
EDITOR’S NOTE:
This is not the first time UnitedHealth executives have engaged in questionable or illegal stock transactions. In 2007, former CEO William McGuire agreed to a record $468 million settlement with the SEC after it was learned that for more than a decade he had engaged in a scheme to inflate the value of his holdings in the company and, consequently, his net worth.
An SEC investigation that year found that over a 12-year period, “McGuire repeatedly caused the company to grant undisclosed, in-the-money stock options to himself and other UnitedHealth officers and employees without recording in the company’s books and disclosing to shareholders material amounts of compensation expenses as required by applicable accounting rules.” In other words, he was back-dating his stock options.
As the SEC explained:
[F]rom at least 1994 through 2005, McGuire looked back over a window of time and picked grant dates for UnitedHealth options that coincided with dates of historically low quarterly closing prices for the company’s common stock, resulting in grants of in-the-money options.
According to the complaint, McGuire signed and approved backdated documents falsely indicating that the options had actually been granted on these earlier dates when UnitedHealth’s stock price was at or near these low points.
These inaccurate documents caused the company to understate compensation expenses for stock options, and were routinely provided to the company’s external auditors in connection with their audits and reviews of UnitedHealth’s financial statements.
Peoria, Ill.-based OSF HealthCare has seen drastic improvements to its financial performance over the last two years, a performance that has allowed the health system to see revenue growth and expand its M&A footprint.
OSF was able to turn around a $43.2 million operating loss (-4.5% margin) in the first quarter ended Dec. 31, 2022, to a $0.9 million gain over the same period in 2023.
But the health system didn’t stop there and, in the first six months ended March 31, 2023, transformed a $60.9 million operating loss to an $8.9 million gain for the same period in 2024.
OSF HealthCare CFO Michael Allen connected with Becker’s to discuss the strategies that helped OSF get to a more steady financial place and some of their plans for the future.
Question: What strategies has OSF HealthCare implemented to help it turn the corner financially?
Michael Allen: OSF Healthcare has improved operating results by more than $70 million compared to FY2023, after seeing an even larger improvement from FY2022 to FY2023. After a very difficult FY2022, from a financial perspective, the organization launched a series of initiatives to return to positive margins.
There has been a focus on reducing the reliance on contract labor, nursing and other key clinical positions, with better recruiting and retaining initiatives. The organization is actively implementing automation for repeatable tasks in hard-to-recruit administrative functions and is actively managing supply and pharmaceutical costs against inflationary pressures.
OSF has also seen revenue growth from patient demand, expanding markets, capacity management and improved payment levels from government and commercial payers.
Q: KSB Hospital and OSF HealthCare recently entered into merger negotiations. How do you expect hospital consolidation to evolve in your market as many small, independent providers continue to face financial challenges and struggle to improve their bottom lines?
MA: The economics of the healthcare delivery system model is challenging in most markets, but particularly difficult for small and independent hospitals and clinics. Given the structure of the payment system and the rising operating costs, I don’t see this pressure easing any time soon.
OSF is looking forward to our opportunity to extend our healthcare ministry to KSB and the greater Dixon area and continue their great legacy of patient care.
Q: What advice would you have for other health system financial leaders looking to get their margins up this year?
MA:There are no silver bullets to improving margins. It’s the daily work of using our costs wisely and executing on important strategies that will win the day. Automation, elimination of non-value-added costs and continuously looking for opportunities to get the best care, patient engagement and workforce engagement is where OSF and other health systems will continue to focus.
Q: An increasing number of hospitals and health systems across the U.S. are dropping some or all of their commercial Medicare Advantage contracts. Where do you see the biggest challenges and opportunities for health systems navigating MA?
MA: As more and more patients and payers are entering Medicare Advantage, we continue to watch our metrics on payment levels to ensure we are being paid fairly and within contract terms for our payer partners.
There does appear to be a trend of increasing denials that often aren’t justified or are not within our contract terms, and we will continuously work to rectify those issues with our payers to ensure our patients receive the appropriate care and OSF is paid fairly for services provided.
Creating a great rating agency presentation is imperative to telling your story. I’ve probably seen a thousand presentations across the past three decades and I can say without a doubt that a great presentation will find its way into the rating committee. Show me a crisp, detailed, well-organized presentation, and I’ll show you a ratings analyst who walks away with high confidence that the management team can navigate the industry challenges ahead.
During the pandemic, Kaufman Hall recommended that hospitals move financial performance to the top of the presentation agenda. Better presentations chronicled the immediate, “line item by line item” steps management was taking to stop the financial bleeding and access liquidity. We still recommend this level of detail in your presentations, but as many hospitals relocate their bottom line, management teams are now returning to discussing longer-term strategy and financial performance in their presentations.
Beyond the facts and figures, many hospitals ask me what the rating analysts REALLY want to know. Over those one thousand presentations I’ve seen, the presentations that stood out the most addressed the three themes below:
What makes your organization essential? Hospitals maintain limited price elasticity as Medicare and Medicaid typically comprise at least half of patient service revenue, leaving only a small commercial slice to subsidize operations. The ability to negotiate meaningful rate increases with payers will largely rest on the ability to prove why the hospital is a “must-have” in the network. In other words, a health plan that can’t sell a product without a hospital in its network is the definition of essential. This conversation now also includes Medicare Advantage plans as penetration rates increase rapidly across the country. Essentiality may be demonstrated by distinct services, strong clinical outcomes and robust medical staff, multiple access points across a certain geography, or data that show the hospital is a low-cost alternative compared to other providers. Volume trends, revenue growth, and market share show that essentiality. A discussion on essentiality is particularly needed for independent providers who operate in crowded markets.
What makes your financial performance durable? Many hospitals are showing a return to better performance in recent quarters. Showing how your organization will sustain better financial results is important. Analysts will want to know what the new “run rate” is and why it is durable. What are the undergirding factors that make the better margins sustainable? Drivers may include negotiated rate increases from commercial payers and revenue cycle improvements. On the expense side, a well-chronicled plan to achieve operating efficiencies should receive material airtime in the presentation, particularly regarding labor. It is universally understood that high labor costs are a permanent, structural challenge for hospitals, so any effort to bend the labor cost curve will be well received. Management should also isolate non-recurring revenue or expenses that may drive results, such as FEMA funds or 340B settlements. To that end, many states have established new direct-to-provider payment programs which may be meaningful for hospitals. Expect questions on whether these funds are subject to annual approval by the state or CMS. The analysts will take a sharpened pencil to a growing reliance on these funds.
The durability of financial performance should be represented with highly detailed multi-year projections complete with computed margin, debt, and liquidity ratios. Know that analysts will create their own conservative projections if these are not provided, which effectively limits your voice in the rating committee.
We also recommend that hospitals include a catalogue of MTI and bank covenants in the presentation. Complying with covenants are part of the agreement that hospitals make with their lenders, and it is the organization’s responsibility to report how it’s performing against these covenants. General philosophy on headroom to covenants also provides insight to management’s operating philosophy. For example, is it the organization’s goal to have narrow, adequate, or ample headroom to the covenants and why? As the rating agencies will tell you, ratings are not solely based on covenant performance, but all rating factors influence your ability to comply with the covenants.
What makes your capital plan affordable? Every rating committee will ask what the hospital’s future capital needs are and how those capital needs will be supported by cash flow, also known as “capital capacity.” To answer that question, a hospital must understand what it can afford, based on financial projections. Funding sources may require debt, which requires a debt capacity analysis with goals on debt burden, coverage, and liquidity targets. Over the years, better presentations explain the organization’s capital model, outline the funding sources, and discuss management’s tolerance for leverage.
There is always a lot to cover when meeting with the rating agencies and a near endless array of metrics and indicators to provide. As I’ve written before, how you tell the story is as important as the story itself. If you can weave these three themes throughout the presentation, then you will have a greater shot at having your best voice heard in rating committee.
Companies grappling with liquidity concerns are looking to cut costs and streamline operations, according to a new survey.
Dive Brief:
Over three-quarters of healthcare chief financial officers expect to see profitability increases in 2024, according to a recent survey from advisory firm BDO USA. However, to become profitable, many organizations say they will have to reduce investments in underperforming service lines, or pursue mergers and acquisitions.
More than 40% of respondents said theywill decrease investments in primary care and behavioral health services in 2024, citing disruptions from retail players. They will shift funds to home care, ambulatory services and telehealth that provide higher returns, according to the report.
Nearly three-quarters of healthcare CFOs plan to pursue some type of M&A deal in the year ahead, despite possible regulatory threats.
Dive Insight:
Though inflationary pressures have eased since the height of the COVID-19 pandemic, healthcare CFOs remain cognizant of managing costs amid liquidity concerns, according to the report.
The firmpolled 100 healthcare CFOs serving hospitals, medical groups, outpatient services, academic centers and home health providers with revenues from $250 million to $3 billion or more in October 2023.
Just over a third of organizations surveyed carried more than 60 days of cash on hand. In comparison, a recent analysis from KFF found that financially strong health systems carried at least 150 days of cash on hand in 2022.
Liquidity is a concern for CFOs given high rates of bond and loan covenant violations over the past year. More than half of organizations violated such agreements in 2023, while 41% are concerned they will in 2024, according to the report.
To remain solvent, 44% of CFOs expect to have more strategic conversations about their economic resiliency in 2024, exploring external partnerships, options for service line adjustments and investments in workforce and technology optimization.
Most organizations are interested in exploring sales, according to the report. Financially struggling organizations are among the most likely to consider deals. Nearly one in three organizations that violated their bond or loan covenants in 2023 are planning a carve-out or divestiture this year. Organizations with less than 30 days of cash on hand are also likely to consider carve-outs.
Organizations will also turn to automation to cut costs. Ninety-eight percent of organizations surveyed had pilotedgenerative AI tools in a bid to alleviate resource and cost constraints, according to the consultancy.
“Healthcare leaders believe AI will be essential to helping clinicians operate at the top of their licenses, focusing their time on patient care and interaction over administrative or repetitive tasks,” authors wrote. Nearly one in three CFOs plan to leverage automation and AI in the next 12 months.
However, CFOs are keeping an eye on the risks. As more data flows through their organizations, they are increasingly concerned about cybersecurity. More than half of executives surveyed said data breaches are a bigger risk in 2024 compared to 2023.
Health plan and health system CFOs point to the current economic situation when asked to identify their top concern, according to a Sept. 14 survey from Deloitte.
The consulting firm surveyed 60 finance chiefs at American health plans and health systems about their priorities and paths forward and shared their findings with Becker’s.
Inflationary pressures have created a cost-heavy operating model for many organizations, CFOs told Deloitte. Coupled with higher care delivery, labor and supply costs — and slowed revenue growth
— financial viability weighs heavily on leaders.
More than 40 percent of health system CFOs believe their health systems may need more than two years to reach the profit levels they generated before the COVID-19 pandemic.
Seventy percent of CFOs identified the current economic situation as a greater concern than it was last year. Meanwhile, 57 percent pointed to new regulatory requirements as a growing concern, and 51 percent said the same of the current operating model and structure.
Rating agencies have done a great job in increasing transparency around how ratings are determined. Detailed methodologies, scorecards, and medians are a big part of that effort.
Central to the rating process is the rating committee. All rating decisions are made by a rating committee, not an individual. The rating committee provides a robust discussion of various viewpoints as it deliberates, votes, and assigns ratings to the debt instrument.
Here are five things to know about what happens in a rating committee.
1. Rating committees are presided over by a Rating Committee Chair.
The Chair’s primary responsibility is to check that the committee follows numerous processes that meet company and SEC-mandated guidelines. For example, the Chair must verify that the correct methodology is being used to determine the rating, or if a rating requires additional methodologies (such as short-term rating methodologies on variable rate debt). The Chair must confirm that the rating decision will be based on verifiable facts or assessments (such as an audit) and that voting members are free of conflicts. Committees can be subject to internal and external reviews after the fact to ensure that decisions were made impartially and documented correctly.
The Chair ensures that the committee is populated with voting members who possess in-depth knowledge about the sector or related-credit knowledge (such as a higher education analyst in the case of an academic medical center) and are skilled in credit assessment. Each voting member has one vote and an equal vote. Serving as a voting member of a rating committee or as a Chair is a privilege and must be earned.
2. The rating committee discussion centers around the ability of a borrower to repay its obligations, or said another way, the likelihood of payment default.
As such, debt structure is integral to the rating committee. Detailed information provided in the committee package will include information on outstanding and proposed debt (if a bond financing is imminent), debt structure risks (fixed versus variable, for example), debt service schedule (level payments or with bullets), maturities and call dates, taxable and tax-exempt debt, bank lines and revolvers, counterparty risk and termination events, derivative products such as interest rate swaps and collateral thresholds, senior-subordinate debt structures, bond and bank covenants, obligated group, and security pledge, to name a few. Leases and pension obligations are also considered, particularly when liabilities outsize the direct debt.
Rating committees review hundreds of financial metrics to assess recent financial performance and an organization’s ability to pay debt in the future. Audited financial statements, year-to-date results, and annual budgets and projections are the basis for computing the financial ratios. Non-quantitative factors include success with past strategies and capital projects, market position and essentiality, management, governance and corporate structure, workforce needs, and local economic data. Confidential information provided by the organization is also shared. The job of the lead analyst is to distill all the information and present an organized credit story to the rating committee.
3. Rating consistency is paramount.
An “A” should be an “A” should be an “A.” Comparables (or “comps”) are an important part of the rating committee. Comps may include the other hospitals and health systems operating in the same state given shared Medicaid and state regulations (such as Certificate of Need or state-mandated minimum wage), workforce environment (such as the presence of active unions), and similar economic factors. Like-sized peers in the same rating category also populate comps. The type of hospital being evaluated is also important. For example, health systems that own health plans would be compared to other integrated delivery systems; likewise for children’s hospitals, academic medical centers, or subacute care providers. Medians are also a part of the comps and provide relativity to like-rated borrowers by highlighting outliers.
4. Rating committee spends time reviewing the draft report to make sure the committee’s views are accurately expressed and check that confidential information was not inadvertently revealed. If you want to know what was discussed in the rating committee, read the last rating report.
Over the years, many executives have asked to speak directly to the rating committee. While that is not possible, you can bring your voice to the discussion with an informative, well-crafted rating presentation. That brings me to my final “inside rating committee” point.
5. Rating presentations matter.
Effective, informative presentations that encapsulate your organization’s strengths will be shared with the rating committee. Every slide in your presentation should send a clear message that the organization’s ability to repay the debt and exceed covenants is strong. Emphasize the positives, acknowledge the challenges, and share what your action plan is to address them. Do your homework and review what you shared with the analysts last year; they will be doing the same to prepare. Provide updates on how the strategic plans are going. If you exceeded your financial goals, explain how. If you fell short, explain why.
How you tell the story is as important as the story itself. That’s how you can inform the discussion and ensure your voice is heard around the rating committee table.
Fifty-four percent of CFOs say that their CEOs are asking them to focus on cost reduction while 40 percent indicate that their CEOs want them honing in on strategy and transformation, according to Deloitte’s “CFO Signals Survey 2Q 2023.”
More than one-quarter of CFOs in the survey reported that their CEOs are asking them to focus on working capital efficiency and risk management while over one-third of CFOs said their CEOs want them focused on strategy and transformation, performance management, revenue growth, investment and capital/financing.
Since 2010, Deloitte has surveyed leading CFOs representing some of North America’s largest companies to provide insight into the business environment, company priorities and expectations, finance priorities and CFOs’ priorities.
Participating CFOs represent diversified, large companies, with 81 percent of respondents reporting revenue in excess of $1 billion. Twenty-three percent are from companies with more than $10 billion in annual revenue, according to Deloitte.
As the CFO remit gets broader and broader, the seat is beginning to attract individuals from different backgrounds, experience levels and skill sets outside of traditional accounting.
While this opens up a wider range of potential candidates, this also means the traditional pipelines to the CFO seat are becoming less and less reliable. For companies, that means succession planning is becoming more critical — companies should be less focused on hunting for already experienced CFOs and more focused on developing those leaders, said Jim Lawson, co-leader of Russell Reynolds Associates’ CFO practice.
“You really need to make bold moves and give finance people a chance to sit in roles that might take a little bit of time to ramp up to,” Lawson said in an interview.
The new CFO path
A recent study published in May by RRA, a leadership advisory firm, pointed to the rapidly expanding number of responsibilities today’s CFOs are juggling, prompting changes in who is interested in the role and the skill sets and experience needed for the position.
There are fewer CFOs today who began their careers at the Big Four accounting firms such as Ernst & Young, KPMG, Deloitte and PricewaterhouseCoopers, for example, while the number of less-tenured or experienced CFOs who hold CPA certifications has shrunk as well.
In 2012, 55% of S&P 2000 CFOs had CPA designations, the study found. By 2022, that figure was down to 43%.
Part of the reason behind the shifts in financial leaders’ backgrounds is that the skills needed by such leaders have morphed away from those related to traditional fiduciary responsibilities into operational and capital allocation talents or expertise.
“What we’ve seen in the last few years is while having operational experience continues to be very important, this theme around capital allocation strategy, (being the) external communication interface, has been the leading trend more recently,” Lawson said.
The change in the experience that CFOs are bringing to their jobs means that accessing and developing future financial leaders should be a top priority for businesses today, as the career journeys of many CFOs veer off from their historic paths. The number of financial leaders who hold MBAs could potentially fall in the coming years, for example, according to the RRA study, which found professionals in younger generations — such as millennials — are less likely to hold such degrees.
While the number of CFOs in the S&P 2000 who held MBAs increased to 48% last year from 42% in 2012, the percentage of millennial CFOs with such degrees fell to 38% compared to 50% for Generation X and baby boomer CFOs, the study found.
Certifications like CPAs and MBAs have become less common following a trend in the early 2000s when many companies stopped paying for the completion of such programs, Lawson said — and as a natural consequence, those certifications are less prioritized than they might have been previously when filling the CFO chair.
“Do you have to get an MBA to be the CFO of a big company? The answer is not necessarily,” Lawson said.
The new CFO career pipeline
Another trend that could be impacting where future financial leaders are likely to come from is the increasing specialization of finance talent, the RRA study said: in the past, certain larger corporations served as “hotbeds” for upcoming leaders in the space, thanks to rotational programs that covered a wide remit of roles, business sectors and use cases, the study found.
As specialization increased, that means the “direct reports to CFOs’ responsibilities within the finance function had become a bit more siloed,” Lawson said.
While experience at hotbeds of financial talent like the Big Four is still highly prized, RRA is expecting the number of CFOs that have that training to slump in future years — a factor that will also change who is tackling what financial responsibilities as well as the future career paths of finance leaders.
For example, regional or division CFOs now have the ability to be more strategic, because they are no longer the ones doing all the transactional accounting, statutory reporting and local taxes, Lawson said — which could also be one of the factors for why CPA certification popularity is declining.
The tech factor
New technologies like automation and AI are also changing the CFOs’ day-to-day responsibilities, which — while coming with some potential flaws or cons — could also be a positive for financial leaders.
“As tasks become more automated, it’s helping the CFO spend less time mining the data and more time analyzing the data, a difference which is really positive for the CFO,” Lawson said.
As CFOs’ makeup shifts to prioritize these operational skills, an emphasis on training is key for companies who want to tap future financial leaders for the seat. The emphasis on such experience — which means CFOs are also becoming more essential in driving business strategy, in addition to business execution — could also be changing the future career path for those who wind up in the chair.
The trend of CFOs taking on CEO roles at companies has increased, for example, and is likely to continue in the future, Lawson said, although he pointed to such moves being more likely in certain sectors such as manufacturing and perhaps less likely in sectors such as technology.
“I think we’ll continue to see more CFOs become CEOs as a result of CFOs getting a better opportunity to be part of the business strategy and capital allocation decisions,” he said.
The chief financial officers honored on this list are leading financial operations for health systems and hospitals throughout the nation.
These leaders are key players in strategic financial planning, growth and partnerships for their organizations. These CFOs are responsible for the financial viability of their hospitals and health systems, and are crucial to the overall success of their respective organizations.
Chris Allen. Interim CFO at Keck Medicine of USC (Los Angeles). Mr. Allen was named interim CFO for Keck Medicine in early 2023. He is in charge of accounting and financial reporting, operating and capital budgeting, audits and internal controls and cash flow management and purchasing and strategic long-range planning. He has also conducted long-range financial planning for the university system. On a daily basis, he handles government regulations, the insurance industry, labor unions, banking and financing industry and medical device and pharmaceutical companies.
Michael Allen. CFO at OSF HealthCare (Peoria, Ill.). Mr. Allen leads a team of 1,500 partners in the division of finance at OSF HealthCare. During his eight years in leadership at OSF, he has rebuilt its financial system and processes, rebuilt its capital management process, overseen significant asset increases, increased cash on hand by 36 percent, automated work processes, implemented self-service pricing for patients, partnered with the healthcare analytics team and automated document scanning. Previously, Mr. Allen served as CFO at Gundersen Health System, Winona Health and Quorum Health Resources/Gibson Area Hospital.
Jennifer Alvey. Senior Vice President and CFO at Indiana University Health (Indianapolis). Ms. Alvey guided the Indiana University Health system through the COVID-19 pandemic, making investments to serve its patients in critical times. She spearheaded the system’s resource command center during the pandemic, redeploying employees, implementing free childcare, setting up dorms and cost-free housing options for employees and setting up payment grace periods for patients. Before being appointed CFO, Ms. Alvey worked as IU Health’s vice president of revenue cycle services and vice president and treasurer.
Adam Anolik. Senior Vice President and CFO of University of Rochester (N.Y.) Medical Center. Mr. Anolik permanently assumed the role of CFO for the University of Rochester Medical Center in 2017, after having served in an interim capacity for several months. He manages the health system’s revenues and operating budget of more than $5 million annually. He brings a keen understanding of research funding, educational mission support, culture, diversity and strategic initiatives to the role. He first joined URMC in 1999 as director of financial operations and has taken on progressive responsibility as he was promoted to new roles.
Thomas Arnold. CFO of Piedmont Healthcare (Atlanta). Mr. Arnold serves as CFO of Piedmont Healthcare, a 22-hospital system and the largest in the state of Georgia. He has managed the organization through a period of fantastic expansion, as the system grew from six hospitals to 22. Despite his executive position, he remains approachable and transparent, often taking the time to mentor young finance professionals.
Jill Batty. CFO of Cambridge (Mass.) Health Alliance. Ms. Batty joined Cambridge Health Alliance as CFO in 2014 after spending time as senior vice president of finance and CFO of Cheshire Medical Center / Dartmouth-Hitchcock in Keene, N.H. Her 20-plus years of experience in leadership molded her background in transitioning organizations from fee-for-service to population health management and navigating reimbursement shifts while generating significant operating margin improvements. Ms. Batty is a fellow of the Healthcare Financial Management Association and has experience as a strategist, healthcare consultant and financial executive.
Chris Bergman. Vice President and CFO of Dayton (Ohio) Children’s Hospital. As the vice president and CFO of Dayton Children’s Hospital, Mr. Bergman oversees accounting, accounts payable, payroll and revenue cycle processes. He is also responsible for risk management, medical records, corporate compliance and supply chain. He has spent more than 35 years of his career in healthcare, previously serving as vice president and CFO of Cincinnati-based Christ Hospital and CFO of Sparrow Health System in Lansing, Mich.
Laurie Beyer. Executive Vice President and CFO of GBMC HealthCare (Towson, Md.). Ms. Beyer joined GBMC HealthCare in 2017 after spending 25 years in executive roles. She most recently spent 11 years as senior vice president and CFO of Union Hospital of Cecil County where she developed finance and revenue cycle teams as well as converted the organization’s patient revenue system. Ms. Beyer has experience leading an EHR implementation and spent time as corporate controller of St. Agnes Hospital in Baltimore.
Craig Bjerke. Executive Vice President and CFO of Methodist Health System (Dallas). Mr. Bjerke is responsible for Methodist Health System’s financial results and reporting. His overall goal as executive vice president and CFO is to ensure that reported financial results are healthy and sound. He has guided his team to successful year-over-year financial results, even during the challenges of the pandemic. Mr. Bjerke supports the system’s overall goals, helping Methodist Health expand its mission, embrace quality, maximize stewardship, drive growth and promote culture.
Deborah Bloomfield, PhD. CFO of Bon Secours Mercy Health (Cincinnati). In charge of the health system’s treasury and investment, supply chain, managed care, and real estate and development, Dr. Bloomfield joined Bon Secours Mercy Health as CFO in 2013. Prior to working with BSMH, she had experience as CFO for Mercy Health, and as the system’s southern division CFO before that. In her career, Dr. Bloomfield has accrued over 30 years of experience in healthcare finance, and in 2013 was named CFO of the year by the Cincinnati Business Courier.
Colleen M. Blye. Executive Vice President and CFO of Montefiore Health System (Bronx, N.Y.). Ms. Blye oversees the financial strategy, reporting, investments and revenue cycle for Montefiore Health System and Albert Einstein College of Medicine as CFO. She has prior experience as executive vice president and CFO of Catholic Health Services of Long Island, a six-hospital health system, and executive vice president for finance and integrated services at Catholic Health Initiatives. Her career has afforded her a background in third party contracting, payroll and information technology in addition to financial planning and strategy.
Carlos Bohorquez. CFO of El Camino Health (Mountain View, Calif.). Mr. Bohorquez is charged with leading the finance division for El Camino Health, a fully integrated, multihospital health system. He serves as the executive sponsor for the finance and investment committees and oversees the departments of finance, accounting, decision support, supply chain, coding, payroll, revenue cycle, account payable and more. Under his leadership, the system’s financial results in 2022 were better than they have been in 20 years.
Francine Botek. Senior Vice President of Finance of St. Luke’s University Health Network (Bethlehem, Pa.). Ms. Botek has spent over 20 years with St. Luke’s University Health Network. She joined the system as vice president of finance in August 2000 and became the senior vice president of finance, overseeing revenue management, policy and integration, reimbursement and payer contracting in 2018.
Cara Breidster. CFO of the Suburban Region of IU Health (Lafayette, Ind.). Ms. Breidster joined IU Health in 2005 and spent time as CFO for the West Central Region before becoming the Indianapolis Suburban Region CFO. She also has experience as vice president of finance and corporate controller for the health system. Prior to joining IU Health, Ms. Breidster spent 17 years specializing in healthcare and tax consulting with Ernst and Young.
Michael Breslin. Group Senior Vice President, Treasurer and CFO of NewYork-Presbyterian (New York City). Mr. Breslin is group senior vice president, CFO and treasurer for NewYork-Presbyterian, a 10-hospital health system. He is responsible for financial planning, reporting, budgeting and revenue cycle. He also oversees the health system’s reimbursement strategy, cost accounting, insurance, financing, managed care and supply chain. He joined NewYork-Presbyterian in 2015 after spending time as senior vice president of finance at New York Methodist Hospital and CFO of Lenox Hill Hospital and Richmond University Medical Center, both in New York City.
Robert Broermann. Executive Vice President and CFO of Sentara Healthcare (Norfolk, Va.). Mr. Broermann became executive vice president and CFO of Sentara Healthcare in 2001 after spending time as CFO of Tidewater Health Care, which merged with Sentara in 1998. He now oversees financial staff at 12 Sentara operating divisions in addition to the centralized finance teams. In addition to his responsibilities at Sentara, Mr. Broermann is chairman of the board for the United Way of South Hampton Roads and treasurer of Virginia Beach Education Foundation.
Michelle Bruhn. Executive Vice President, CFO and Treasurer of Sanford Health (Sioux Falls, S.D.). Ms. Bruhn has worked within the Sanford Health system for over 20 years. As executive vice president and CFO and treasurer, her responsibilities include overseeing Sanford Health’s financial strategy and operations, investments and asset management, and business development and innovation. These responsibilities span across the health system’s 47 medical centers and 2,800 employed physicians and practice providers.
Laura Buczkowski. Executive Vice President and CFO at Wellspan Health (York, Pa.). Ms. Buczkowski joined WellSpan in 2020, leading its access and scheduling, facility management, financing, payer contracting, revenue cycle and supply chain. She has more than 30 years of healthcare experience, serving as chief financial officer for the Atlantic Group of Bon Secours Mercy Health.
Dawn Bulgarella. President and Interim CEO UAB Health System and CFO of UAB/Ascension St. Vincent’s Alliance (Birmingham, Ala.). Ms. Bulgarella has more than 25 years of operations and finance experience. She oversees the health system’s $3 billion annual budgets and is instrumental in developing the strategic plan for optimized performance across UAB Medicine. She has previous experience with a “Big Four” international accounting and consulting firm and is now engaged as a member in multiple organizational boards and board-level committees. It was announced in June that, following the departure of UAB Health System’s former CEO, Ms. Bulgarella will also serve as interim CEO.
Jacqueline Cabe. CFO of UW Medicine (Seattle) and Vice President for Medical Affairs of the University of Washington. Ms. Cabe has spent more than three years as CFO of UW Medicine and vice president for medical affairs at the University of Washington. In this role, she oversees the financial success of the health system, which includes 300 locations. Ms. Cabe has previous experience as a partner with KPMG.
Daniel Cancelmi. Executive Vice President and CFO of Tenet Healthcare (Dallas). Mr. Cancelmi is responsible for Tenet Healthcare’s finance, accounting and investor relations, as well as finance-related functions. He oversees the financial operations for the health system’s 65 hospitals, 23 surgical hospitals and 475 outpatient centers. The health system was responsible for 10 million patient encounters.
Michelle Cartwright. Group CFO of Palm Beach (Fla.) Market and Delray (Fla.) Medical Center. Ms. Cartwright is coming up on three years as Group CFO of Palm Beach Market and Delray Medical Center. A 536-bed community hospital and a level 1 trauma center, DMC houses 1,600 employees and 600 physicians. Prior to being appointed CFO in 2020, Ms. Cartwright had spent over a decade in financial leadership positions at St. Mary’s Medical Center and Palm Beach Children’s Hospital.
Michael Coggin. Executive Vice President and CFO of LifePoint Health (Brentwood, Tenn.). Mr. Coggin is executive vice president and CFO for LifePoint Health, a role he took on after serving as senior vice president and chief accounting officer for the health system. In 2018, LifePoint merged with RCCH HealthCare Partners. He has overseen the health system’s external financial reporting, corporate accounting and consolidation functions as well as tax function and internal control compliance. During his career, Mr. Coggin has also spent time as CFO of Specialty Care Services Group and was in financial leadership of the Renal Care Group.
Matthew Cox. Senior Vice President and CFO of Spectrum Health (Grand Rapids, Mich.). Mr. Cox joined Spectrum Health in 2017 after serving as senior vice president of finance operations at Phoenix-based Banner Health. In his role as senior vice president and CFO of Spectrum Health, he leads the finance team for the $6.5 billion nonprofit health system. He has previous experience in leadership roles with two Catholic Health Initiatives markets and Central Maine Health Care in Lewiston.
Carol Crews. Executive Vice President and CFO of Tanner Health System (Carrollton, Ga.). Ms. Crews is the executive vice president and CFO of Tanner Health System, an organization she joined in 1991 as a staff accountant. Over the years, Ms. Crews has spent time as controller and vice president of finance before she became responsible for all business related activity for the system. Ms. Crews has experience in budgets, audits, accounting, payroll and patient financial services.
Michele Cusack. Executive Vice President and CFO at Northwell Health (New Hyde Park, N.Y.). Ms. Cusack joined the health system in 1996, progressively growing through the organization. She manages the day-to-day financial operations of the system’s 80,000 employees and $17 billion in revenue. She led the system through COVID-19, improving cash flows and managing a $1 billion capital budget. Prior to Northwell, she worked at Deloitte and Touche.
Deborah Dage. CFO at Saint Francis Health System (Tulsa, Okla.). Ms. Dage is a certified public accountant and responsible for all financial activity for the Saint Francis system, which includes five hospitals and a physicians group. She is a mission-oriented leader, focused on what financial numbers mean for community care. She helped the system to launch a free clinic for undocumented and uninsured patients in the community. Ms. Dage joined the health system 25 years ago overseeing home health, hospice and durable medical equipment. She was eventually promoted to executive director of finance, and was named CFO in 2021.
Dennis Dahlen. CFO of Mayo Clinic (Rochester, Minn.). Mr. Dahlen spent time as senior vice president and CFO of Phoenix-based Banner Health before becoming CFO of Mayo Clinic in 2017. In his role, Mr. Dahlen oversees financial operations for the health system, which includes 4,729 physicians and scientists as well as 58,405 administrative and allied health staff. He previously spent time as senior vice president of finance for a faith-based health system.
Robin Damschroder. Executive Vice President and Chief Financial and Business Development Officer of Henry Ford Health System (Detroit). Ms. Damschroder has more than 27 years of experience as a leader in healthcare. She became executive vice president and CFO of Henry Ford Health System after founding a healthcare consulting and advisory business firm. She also has experience as COO of the west market for Saint Joseph Mercy Health System.
Stephanie Daubert. CFO of Nebraska Medicine (Omaha). Ms. Daubert is the CFO for Nebraska Medicine, where she oversees the $1.2 billion academic health system’s financial operations. The system includes the 718-bed Nebraska Medical Center as well as nearly 70 specialty and primary care clinics. Ms. Daubert also serves on the board of directors for Nebraska Health Information Initiative, Building Healthy Futures, Nebraska Orthopaedic Hospital and the Nebraska Health Network.
Adriana Day. Senior Vice President and CFO of Roper St. Francis Healthcare (Charleston, S.C.). Ms. Day oversees Roper St. Francis Healthcare’s financial strategy and performance, leading teams focused on finance, revenue cycle, managed care and data analytics. She has previously served in executive roles in both managed care organizations and hospital systems. She has directed growth, built tight knit teams and taken accountability for the system’s financial integrity.
Andrew DeVoe. CFO of TriHealth (Cincinnati). Mr. DeVoe joined TriHealth in July 2016 after spending more than 25 years in finance leadership and executive management. In his role as CFO, Mr. DeVoe is responsible for planning, organizing and directing financial management for the health system. He has experience with financial planning, budgeting, accounting systems and patient financial services in addition to reimbursement and managed care contracting. He also holds responsibility for the system’s population health efforts.
Lori Donaldson. CFO of UC San Diego Health. Ms. Donaldson is the CFO of UC San Diego Health, overseeing the health system’s financial strategies, operating and capital budgets and financial reporting systems and controls – ultimately a budget of over $3 billion. Ms. Donaldson is also responsible for planning and executing strategic partnerships and financial planning for the system’s capital projects. In addition to this role, Ms. Donaldson serves as a board member for the Bannister Family House at UC San Diego.
Bridgett Feagin. Executive Vice President and CFO of Connecticut Children’s Medical Center (Hartford, Conn.). As executive vice president and CFO of Connecticut Children’s Medical Center, Ms. Feagin is responsible for leading the health system’s financial planning, analysis and operations, as well as directly overseeing the medical system information solutions and technology division. In addition to her role at Connecticut Children’s, Ms. Feagin also serves as Executive Lead for the Children’s Health Consortium. Ms. Feagin has over two decades of financial experience, having previously served as CFO for Detroit Medical Center’s seven hospitals and United Way for Southeastern Michigan.
Steve Filton. Executive Vice President and CFO of Universal Health Services (King of Prussia, Pa.). Mr. Filton is responsible for the financial operations of Universal Health Services, an organization with acute care hospitals, ASCs and behavioral health centers. As executive vice president and CFO, Mr. Filton has been integral in ensuring the organization maintains a strong balance sheet and high ratings from Moody’s and Standard & Poor’s. In the first quarter of 2019, the health system reported a 4.3 percent increase in net revenue to $2.8 billion.
Jennifer Fitzgerald. CFO of Belmont Behavioral Health System (Philadelphia). Ms. Fitzgerald is CFO of Belmont Behavioral Health System, which is part of Nashville, Tenn.-based Acadia Healthcare. Her role entails overseeing financial operations for the 252-bed inpatient hospital, outpatient services, and specialty services such as New Oaks Academy and Children’s Crisis Response Center. She brings to the role a proven track record of leading operations, projects and staff at numerous healthcare organizations.
Leslie Flake, BSN. CFO at Orlando Health. Ms. Flake serves as the most senior finance executive for Orlando Health, managing $8.1 billion in assets. One of her primary objectives is enhancing efficiencies through benchmarking and standardization. She also coordinates with hospital chief financial officers on performance. Ms. Flake has 20 years of healthcare finance experience, and helped Orlando Health to achieve a 14.4 percent operating cash flow margin in 2022. She is also supporting the system’s growth strategy, outlining a strategic growth plan through 2030. She has previously worked for big names including Spectrum Health, Banner Health and Piedmont Healthcare.
Liz Foshage. Executive Vice President and CFO at Ascension (St. Louis, Mo.). Ms. Foshage leads all financial planning for Ascension, including its tax and treasury functions. In addition to her professional responsibilities, Ms. Foshage is a member of the American Institute of Certified Public Accountants and the Health Care Financial Management Association. Ms. Foshage joined Ascension in 1992, holding positions including vice president of finance and senior vice president of finance.
Carrie Fuller Spencer. CFO of University of Rochester (N.Y.) Strong Memorial Hospital. Ms. Fuller Spencer became interim CFO at Strong Memorial Hospital in October 2017 and, in 2018, was appointed CFO of Strong Hospital and Highland Hospital, both in the University of Rochester health system. She has a background in healthcare finances and experience developing and managing annual capital and operating budgets.
Lawrence Furnstahl. Executive Vice President and CFO of Oregon Health & Science University (Portland). Mr. Furnstahl is responsible for the financial and operational management of Oregon Health & Science University as executive vice president and CFO. The health system includes two hospitals and two partner hospitals as well as 16,478 employees. Mr. Furnstahl is integral in managing the system’s $3 billion operating budget. He has previous experience as chief financial and strategy officer for the University of Chicago Medical Center and biological sciences division.
Niyum Gandhi. Treasurer and CFO at Mass General Brigham (Somerville). Mr. Gandhi joined Mass General as the system was recovering from lasting effects of the COVID-19 pandemic. He helped the system rethink key things, including reporting structures, service lines, margin targets and more. He is focused on improving collaboration between health system departments to improve access and care, launching a value-based care and health equity initiative and increasing the system’s work on research and innovation. He joined Mass General from Mount Sinai, where he served as executive vice president and CFO.
John Geppi. Executive Vice President and CFO of Covenant Health (Knoxville, Tenn.). Mr. Geppi is responsible for the financial operations of Covenant Health, which includes nine acute care hospitals and more than 1,500 affiliated physicians. In 2016, the health system reported $1.2 billion in operating revenue and as executive vice president and CFO, Mr. Geppi is an integral member of the system’s strategic leadership team.
Lisa Goodlett. CFO of Medical University of South Carolina Medical Center (Charleston, S.C.). Ms. Goodlett oversees the financial strategy and planning for MUSC Medical Center as CFO. She is responsible for the financial department that supports the 700-bed hospital, including a children’s hospital, and level 1 trauma center. MUSC and its affiliates have collective annual budgets of over $4.6 billion.
Joe Guarracino. Executive Vice President, Chief Administrative Officer and CFO of White Plains (N.Y.) Hospital. Mr. Guarracino joined White Plains Hospital in 2016 after spending more than 25 years overseeing financial operations for healthcare organizations. In his role as executive vice president, chief administrative officer and CFO, Mr. Guarracino takes responsibility for all financial operations, such as revenue, patient accounts and accounts payable. Prior to joining White Plains, Mr. Guarracino was senior vice president and CFO of Brooklyn Hospital Center and CFO of three Health Quest System hospitals.
Dana Haering. Executive Vice President and CFO of Lucile Packard Children’s Hospital Stanford (Palo Alto, Calif.). Ms. Haering was named interim CFO of Lucile Packard Children’s Hospital Stanford in 2013 and promoted to CFO in 2014. She spent more than 20 years in the accounting industry, serving healthcare organizations that include academic medical centers, community hospitals and health plans. She also spent time as a senior manager at KPMG in the healthcare practice.
Don Halliwill. Executive Vice President and CFO at Carilion Clinic (Roanoke, Va.). Mr. Halliwill oversees all financial activities of the health system, which has annual revenues of $2.2 billion. He joined Carilion in 2013, leading the system through the COVID-19 pandemic. He helped to establish a top-down reassessment of how healthcare systems provide care, creating new plans for efficiency. He has also piloted a $500 million expansion of Carilion Roanoke Memorial Hospital. He previously served as CFO of Carilion’s Hospital Division.
Kristine Hanscom. Senior Vice President, CFO and Treasurer of South Shore Health System (South Weymouth, Mass.). Ms. Hanscom started in her current role in 2022 after a period as CFO of Tufts Medical Center in 2016 after spending time as interim CFO and vice president of finance. She has experience overseeing a team of more than 250 people and guiding strategic decisions on business investments. During her career, she was instrumental in preparing for the hospital’s first bond issue, which helped the hospital raise $210 million.
Fred Hargett. Executive Vice President and CFO of Novant Health (Winston-Salem, N.C.). Mr. Hargett is executive vice president and CFO of Novant Health, an organization he joined in 2003. He spent time as executive vice president of finance and senior vice president of financial planning before taking on his current role. Prior to joining Novant, Mr. Hargett was a manager of healthcare consulting at Ernst & Young.
Jeff Harrington. Senior Vice President and CFO at Children’s Hospital Colorado (Aurora). Mr. Harrington became CFO of the Children’s Hospital in 2013 after serving as its vice president of finance. He oversees the system’s accounting, financial planning, treasury, financial systems, decision support, payroll management, payer strategy and facility functions. He has overseen the system’s expansion and two hospital additions. He has also developed financial dashboards for real-time productivity and staffing analytics. He joined the hospital from the Atlantic Health System where he served as corporate director of finance.
Dina Hermes. Corporate CFO of Critical Access Healthcare (Austin, Texas). Ms. Hermes is charged with providing financial oversight for Golden Plains Community Hospital in Borger, Texas, Rice Medical Center in Eagle Lake, Texas, Critical Access Lighthouse Management, Critical Access Billing and Critical Access Medical Group. Each of these entities are subsidiaries of Critical Access Healthcare. Since Critical Access Healthcare serves a rural population, acting as corporate CFO comes with many challenges, but Ms. Hermes strives to keep costs affordable in the midst of a rural economy based mainly on self-employment and small businesses.
Rick Hinds. Executive Vice President and CFO of UC Health (Cincinnati). Mr. Hinds spent time as interim CEO for UC Health’s parent company, the Health Alliance of Greater Cincinnati, before stepping into his current role as executive vice president and CFO of UC Health, in 2010. He has previous experience as vice president of finance and operations from 1995 to 2005 he also served as CEO of Fort Hamilton (Ohio) Healthcare Corp.
Kim Hodgkinson. Senior Vice President and CFO at Hospital Sisters Health System (Springfield, Ill.). Ms. Hodgkinson leads all finance operations for Hospital Sisters’ physician clinics and 15 hospitals across Illinois and Wisconsin. She supports the system’s strategic operating and growth goals, managing debt, investments, supply chain, revenue cycle and more. She has 30 years of experience in healthcare finance, joining HHS in 2022 after serving at systems including Trinity Health, PeaceHealth and St. Vincent’s Healthcare.
Linda Hoff. CFO of Stanford (Calif.) Health Care. Ms. Hoff is CFO of Stanford Health Care, which she joined in 2017 after spending time as senior vice president and CFO of Legacy Health, an Oregon-based health system. She brought with her more than 30 years of executive and finance experience. In her role, she oversees Stanford Health Care’s finance strategy, planning and reporting.
Greg Hoffman. CFO at Providence (Renton, Wash.). Mr. Hoffman leads Providence’s financial operations, ensuring that performance is aligned with strategic objectives for a better world. He heads up annual operating revenue and capital budgets. He also communicates the system’s financial performance to stakeholders, ensuring that everything is conducted ethically. When COVID-19 hit, Mr. Hoffman helped the system to form a nimbler administrative structure and expand outpatient care. He also leads up the system’s donation efforts, contributing to the community and closing gaps in health access.
Daniel Isacksen, Jr. Executive Vice President and CFO at Trinity Health (Livonia, Mich.). Mr. Isacksen leads all financial functions for Trinity Health, including financial reporting, enterprise development and payer strategy. He has spearheaded operational improvement and financial stabilization through the COVID-19 pandemic. Since joining the system in 2021, Mr. Isacksen has continued to grow its reach. As an executive sponsor of the electronic health record system Epic, he has guided its successful implementation. He has also launched a new strategic initiative and a population health analytics collection system. His leadership has led the system to an 11 percent growth in non-hospital annual revenue.
Hannah Jacobs. Senior Vice President and CFO of Frederick (Md.) Health. Ms. Jacobs was promoted to senior vice president and CFO of Frederick Health in April 2022 after having served the organization as vice president of finance since 2009. The health system, which celebrated its 120th anniversary in May 2022, includes the 269-bed Frederick Health Hospital and employs over 3,300 individuals. In addition to her current role, Ms. Jacobs also serves as Finance Chair for the YMCA of Frederick County Board of Directors.
Daniel Jantzen. System CFO at Dartmouth Health (Lebanon, N.H.). Mr. Jantzen oversees all financial function for Dartmouth Health, working on strategic goals and long-term financial planning. He stepped into the role in 2016, eight days before a fiscal year end in which the organization incurred a large operating loss. Mr. Jantzen rose up from his role as chief operating officer after the departure of the prior CFO. Mr. Jantzen has overseen a development and execution performance plan that resulted in a $110 million operating margin improvement. He is currently in his 34th year with the organization.
Dawn Javersack. Senior Vice President and CFO of Nicklaus Children’s Health System (Miami). Ms. Javersack serves as senior vice president and CFO of Nicklaus Children’s Health System, the only healthcare system in the region exclusively for children. In her role, she provides executive oversight of the financial planning, operations and performance of the system and its entities. In 2021 and 2022, she led the organization to some of the strongest financial years in its recent history. Under her leadership, the system improved its rating from Fitch Ratings and S&P Global.
Paul Jenny. Senior Vice President of Finance and CFO at Cincinnati Children’s. Mr. Jenny oversees finances for the system’s $2.6 billion revenue. He successfully led the organization through the pandemic, putting focus on diversity, equity and inclusion. Previously, he served as chief business officer for the University of California San Francisco.
Pat Keel. Executive Vice President, Chief Financial and Administrative Officer for St. Jude’s Children’s Research Hospital (Memphis, Tenn.). Ms. Keel has served as CFO for St. Jude since 2016, and was promoted to the expanded role of executive vice president and chief administrative and financial officer in 2020. Overseeing multiple departments, Ms. Keel’s responsibilities include managing finance, supply chain, reimbursements, revenue cycle, managed care contracting and grants. Prior to her time at St. Jude, she served as CFO and senior vice president for University Health in Shreveport and Monroe, La.
Adam Kempf. Senior Vice President and CFO of Norton Healthcare (Louisville, Ky.). Mr. Kempf spent six years in public accounting before joining Norton Healthcare in 2001 as a senior internal auditor. He is now senior vice president and CFO, responsible for the health system’s accounting systems, capital and operational budgets and long-term financial planning. He is active in the Kentucky chapter of the Healthcare Financial Management Association.
Hak Kim. Senior Vice President and CFO at AtlantiCare Health System (Egg Harbor, N.J.). Mr. Kim plans, directs and coordinates financial operations and long-term strategy for AtlantiCare and its 6,000 providers. He is responsible for business development initiatives, including expanding services and sustaining initiatives. He also serves on the system’s quality, finance, audit, compliance and risk committees. He plays a key role in securing regulatory approvals and state and federal funding, as well as implementing community programs. He leads the health system in enrolling community members in a program that increases health access for low-income and rural communities.
Alec King. Executive Vice President and CFO of Memorial Hermann Health System (Houston). As executive vice president and CFO of Memorial Hermann Health System, one of the largest integrated healthcare delivery systems in southeast Texas, Mr. King is responsible for overseeing approximately $7 billion in total operating annual revenue. He is charged with maintaining the organization’s overall financial health. Mr. King is known for his transparency and prioritizes educating others on the nuances of healthcare finance.
Lynn Krutak. Executive Vice President and CFO of Ballad Health (Johnson City, Tenn.). Ms. Krutak’s role as executive vice president and CFO of Ballad Health entails the oversight of the health system’s financial operations, processes and systems. She brings over 25 years of experience leading financial organizations to her position. With her deep industry experience, she is instrumental in leading long term financial sustainability efforts, including identifying growth opportunities, assessing healthcare trends and regulatory changes, and driving innovative business models.
JoAnn Kunkel. CFO of LCMC Health (New Orleans). Ms. Kunkel is the CFO for LCMC Health, a nine-hospital health system. She leads the finance and accounting departments, as well as serves the CEO and leadership team in an advisory capacity. She led efforts for the recent partnership between LCMC and New Orleans-based Tulane University, which will add Tulane Medical Center, Lakeview Regional Medical Center and Tulane Lakeside Hospital to the system. Ms. Kunkel brings years of experience to her current role, having previously served as corporate CFO of Sioux Falls, S.D.-based Sanford Health.
Kris Kurtz. COO and CFO at University of Michigan Health West (Wyoming). Mr. Kurtz is in charge of maintaining financial stability and operational efficiency for the university health system. Additionally, he oversees strategy, procurement, property, construction and support services as COO. As CFO, he has overseen university health system affiliations, created and implemented a new cardiovascular network and a new cancer network and developed direct to employer contracting. Mr. Kurtz has more than 25 years of experience in healthcare finance.
Travis Lakey. CFO of Mayers Memorial Healthcare District (Fall River Mills, Calif.). Mr. Lakey has been credited with bringing Mayers Memorial Healthcare District from the brink of bankruptcy to financial stability. As a growing district with a frontier critical access hospital in rural California, Mayers Memorial Healthcare District and the surrounding community both directly benefit from Mr. Lakey’s fiscal responsibility and sound financial judgment. He has served as CFO since 2009.
Angela Lalas. Executive Vice President for Finance and CFO of Loma Linda (Calif.) University Health. Ms. Lalas spent time as Loma Linda University Health’s senior vice president for finance before being promoted executive vice president of finance and CFO in 2021. She has experience overseeing the six-hospital health system’s finances and directing the Loma Linda University Foundation. Prior to joining Loma Linda in 2006, Ms. Lalas was a senior tax consultant for Deloitte.
Kathy Lancaster. Executive Vice President and CFO of Kaiser Foundation Hospitals and Health Plan (Oakland, Calif.). After joining Kaiser Permanente in 1998, Ms. Lancaster was promoted to CFO in 2005. She is responsible for the health system’s corporate finance, financial planning, financial systems and revenue management. She also has oversight of supply chain, data analytics, actuarial services and the enterprise shared services. Before she joined Kaiser, Ms. Lancaster held senior leadership roles for Prudential Insurance Company’s Western region.
Dennis Laraway. CFO of Cleveland Clinic. Mr. Laraway was named Cleveland Clinic’s new CFO in March 2023. He joined Cleveland Clinic, a nonprofit academic medical center comprising 22 hospitals, after having served as executive vice president and CFO at Banner Health, a $12 billion Phoenix-based health system. He also has experience as CFO for Scott & White Health in Temple, Texas.
Romaine Layne. CFO of Broward Health Ambulatory Services (Fort Lauderdale, Fla.). Ms. Layne was promoted to CFO for the ambulatory services division of Broward Health in 2020 after working as associate CFO for Broward Health Imperial Point since 2018. In her current role, she ensures funding for ambulatory care, identifies opportunities for contract negotiations and oversees 85 employees. In her time as CFO, one of Ms. Layne’s most notable achievements was increasing ambulatory services point-of-sale collections by over 30 percent. In the summertime, Ms. Layne serves as a mentor for Broward’s internship program.
Stacey Malakoff. Executive Vice President and Chief Financial and Administrative Officer of Hospital for Special Surgery (New York City). Ms. Malakoff oversees financial operations at Hospital for Special Surgery, a hospital focused on orthopedics and rheumatology. In 2021, alongside her in-house team and representatives from Avison Young, Ms. Malakoff represented HSS in lease negotiations that led to development plans for a new 30-story medical office tower in Manhattan’s Upper East side. The building will house HSS physician offices as well as other ancillary services.
Divya Matai. Vice President and CFO of Emory Johns Creek Hospital and Emory Saint Joseph’s Hospital (Metro Atlanta). Ms. Matai joined Emory Healthcare in May 2022 as the new vice president and CFO of two of its hospitals, Emory Johns Creek Hospital and Emory Saint Joseph’s Hospital. The health system comprises 11 hospitals, the Emory Clinic and over 250 provider locations with more than 3,300 physicians. Prior to her new role at Emory, Ms. Matai spent about four years as the CFO of Northwest Texas Healthcare System.
David Mazurkiewicz. Executive Vice President and CFO at McLaren Healthcare Corp. (Grand Blanc, Mich). Mr. Mazurkiewicz has been with McLaren since 2009, overseeing the system’s financial integrity and ensuring its 14 hospitals can provide cost-effective care for patients. He also manages the system’s two health insurance plans. In Mr. Mazurkiewicz’s time with the health system, it has more than doubled, adding hospitals, ambulatory facilities and a cancer institute.
Brenda McCormick. Senior Vice President and CFO of Children’s Minnesota (Minneapolis). Joining Children’s Minnesota as senior vice president and CFO in 2019, Ms. McCormick took on responsibilities including leadership among financial teams for planning and analysis, controllership, treasury, strategic payer contracting, revenue cycle operations and foundation finances. In addition to her financial duties with Children’s Minnesota, Ms. McCormick also serves on the board of regents with her alma mater, St. Olaf College in Northfield, Minn., as well as the Ridgeview Medical Board.
Paul McDowell. Executive Vice President and CFO at The Queen’s Health System (Honolulu). Mr. McDowell joined the health system in 2020, controlling finances for Hawaii’s largest private employer. He oversees budgeting, financial planning and the adoption of sustainable financial policies. He also oversees information technology at the system, improving financial capacity and expanding pay performance contracts with payers. He also provides counsel to the system’s accountable care organization, leading to a realization of a $20 million cost reduction. He also led the health system to a $26 million financial improvement in fiscal year 2022. Mr. McDowell has 30 years of experience in health finance.
Mike Meyer. CFO of UT Southwestern Medical Center (Dallas). Mr. Meyer oversees the financial solvency and direction of UT Southwestern Medical Center, which includes two hospitals, a medical school and more than 50 clinics. During his time at UT Southwestern, Mr. Meyer has improved the case mix index by 7 percent year over year and his approach to revenue cycle and cost management helped the hospital exceed its budget operating margin by nearly 200 percent. He is currently leading efforts to expand Clements University Hospital, a 30-month project to add a tower and 144 beds campuswide. He has previous experience as executive vice president and CFO of both Atlanta-based Grady Health System and Dallas-based Texas Health Resources.
Jennifer Mitzner. Executive Vice President and CFO of Baylor Scott & White Health (Dallas). In 2021, Ms. Mitzner was hired as executive vice president and CFO for Baylor Scott & White Health, the largest nonprofit health system in the state of Texas comprising 51 hospitals and over 1,100 access points. In this role, Ms. Mitzner oversees the health system’s finance, accounting and revenue cycle functions. Prior to working with Baylor Scott & White, Ms. Mitzner spent time as executive vice president of Hoag and CFO of St. Joseph Hoag Health.
Cecelia Moore. CFO of Vanderbilt University Medical Center (Nashville, Tenn.). Ms. Moore joined Vanderbilt University Medical Center in August 2013 after spending time as the vice president of finance and COO for the patient revenue management organization within Duke University Health System in Durham, N.C. She was later appointed CFO of the health system while it more than doubled its operating income. In 2016, the Nashville Business Journal awarded her CFO of the Year in the Not-for-Profit Sector.
Dan Morrissette. CFO of CommonSpirit Health (Chicago). Mr. Morrissette ensures the viability of the organization from a financial standpoint. He works to optimize revenue through multiple avenues. He brings vast financial expertise to his role, having spent 25 years in health care, consulting and international business development. He most recently served as CFO of Stanford Health in Palo Alto, Calif.
Bill Munson. Vice President and CFO of Boulder (Colo.) Community Health. Mr. Munson oversees the financial strategy, operations and sustainability for Boulder Community Health, a $450 million independent community health system. His sound strategic decisions and cultivation of various partnerships has enabled the system to thrive through adversity. He first joined the system in 2008 and brings a breadth of experience in hospital financial management to his current position.
Dominic Nakis. Senior Vice President and CFO of Sutter Health (Sacramento). Mr. Nakis became CFO of Sutter Health in May 2023, where he will manage the entirety of the system’s financial operations, which includes financial planning, investments and treasury, financial accounting, health plan, supply chain and revenue cycle. He brings over 30 years of healthcare financial and leadership experience to the role. Prior to assuming the new role, he served as CFO of Advocate Aurora Health in Milwaukee.
Kaley Neal. CFO of Shenandoah (Iowa) Medical Center. Ms. Neal became financial controller of Shenandoah Medical Center in March 2016 and was promoted to CFO in July 2017. In her role, Ms. Neal oversees financial operations for the 25-bed critical access hospital with over 300 employees. The hospital’s main campus also includes a physician clinic, outpatient clinic, wellness center and home health and hospice.
Priscilla Needham. CFO of Tallahassee Memorial HealthCare. Ms. Needham became CFO of Tallahassee Memorial HealthCare earlier this year. She has previously served as CFO of Baylor St. Luke’s Medical Center in Houston and Billings Clinic. In her role, Ms. Needham oversees the financial operations for the 325-bed hospital with 4,700 employees.
Susan Nelson. Executive Vice President and CFO of MedStar Health (Columbia, Md.). Ms. Nelson is the executive vice president and CFO for MedStar Health. She is responsible for systemwide finances for the $6.5 billion nonprofit healthcare delivery system, including financial reporting, financial planning, revenue cycle, capital management, bond financing, investment activities, performance improvement, analytics and business development. She first joined the system in 2005 as the vice president of financial operations and has taken on increasing responsibility, most recently serving as senior vice president of finance before assuming her current role.
Terri Newsom. Senior Vice President and CFO of Boston Medical Center Health System. Ms. Newsom serves as the senior vice president and CFO of Boston Medical Center Health System. She oversees all financial planning and operations for the system, which consists of a 514-bed academic medical center and five other major entities and has an annual operating budget of $6 billion. Since joining the health system in 2020, she has driven the system’s efforts in health equity, community outreach and financial stability.
Joyce Nwatuobi. CFO of Indiana University Health Methodist and University Hospitals (Michigan City, Ind.). In 2021, Ms. Nwatuobi joined IU Health as CFO for Methodist and University Hospitals after serving as CEO and co-founder of ThriveHealth in Milwaukee the year prior. Her role as CFO entails administration, direction, and monitoring of all hospital finances. In addition to sustaining financial security for the $2 billion health system, Ms. Nwatuobi is currently providing oversight to a new IU Health downtown hospital project.
John Orsini. Senior Vice President and CFO of Northwestern Memorial HealthCare (Chicago). Mr. Orsini has more than 30 years of experience in healthcare finance, including time as executive vice president and CFO of Cadence Health, which merged with Northwestern Memorial HealthCare. After the merger, Mr. Orsini became senior vice president and CMO of NMHC. He oversees strategic financial management for the seven-hospital health system.
Bill Pack. CFO of Conway (Ark.) Regional Health System. Mr. Pack is responsible for Conway Regional Health System’s financial operations, which includes leading the system’s accounting, business office and admissions, and medical information teams. He brings over 30 years of healthcare experience to his role and has built a reputation as a results-driven leader. He is adept in crafting innovative action plans to optimize processes, workflow productivity and profitability.
Eric Peburn. Executive Vice President and CFO of Halifax Health (Daytona Beach, Fla.). In 1996, Mr. Peburn joined Halifax as corporate controller and was promoted to director of finance in September 2003. He also spent time as assistant administrator before he became executive vice president and CFO in November 2007. In addition to his role at Halifax Health, Mr. Peburn serves on the executive committee and board of directors for the Daytona Regional Chamber of Commerce and is a board member of Volusia Health Network, Halifax Insurance Plan and Healthcare Purchasing Alliance.
Robert Pekofske. Vice President of Finance and CFO at Advocate Health (Downers Grove, Ill.). Mr. Pekofske manages Advocate’s systemwide financial policies and implements operating unit procedures to ensure system policies are followed. He also manages the system’s assets, revenues, expenditures and financial activities. He oversees a total of $2.1 billion in operating revenue. Mr. Pekofske started his career in finance at Evangelical Hospital Association in 1978. In 2023, he celebrated 25 years with Advocate Health.
Frank Pipas. Executive Vice President and CFO at RWJBarnabas Health (West Orange, N.J.). Mr. Pipas controls finances for the health system and its medical healthcare system, providing healthcare to the communities it serves. He joined the organization in 2022 after serving at another major healthcare organization. Mr. Pipas is focused on stabilizing the health system’s finances and driving growth and profitability in the wake of COVID-19.
Alice Pope. CFO of Inova Health System (Falls Church, Va.). As CFO of Inova, Ms. Pope handles financial operations including financial reporting, revenue cycle operations, managed care contracting, treasury and investment management. She works to guarantee the financial stability of the organization. Prior, she served as senior vice president and CFO of Scottsdale, Ariz.-based HonorHealth. She has more than 30 years of experience in finance and 20 of those years were in healthcare.
Scott Posecai. Executive Vice President, CFO and Treasurer of Ochsner Health System (New Orleans). Mr. Posecai joined Ochsner Clinic in 1987 and was promoted to CFO in 1995. He became CFO of Ochsner Clinic Foundation in 2001 after it merged with Ochsner Clinic and then CFO of the Ochsner Health System in 2006. He oversees financial planning, reimbursement, managed care contracting and health information management in his current role. Mr. Posecai also oversees accounting and revenue cycle functions.
Julia Puchtler. CFO of the Hospital of the University of Pennsylvania (Philadelphia). Ms. Puchtler joined Penn Medicine in 2015 and was vice president of finance operations and budget before being promoted to CFO in 2019. She also has experience as vice president of strategic financial planning and decision support at Trinity Health in Livonia, Mich. In addition to being promoted to CFO in 2019, Ms. Puchtler was named to the 2020 class of the Carol Emmott Fellowship, which was established to uplift and increase visibility for women in health leadership.
Michael Reney. Executive Vice President and Chief Finance and Business Officer at Dana-Farber Cancer Institute (Boston). Mr. Reney was CFO of Boston-based Brigham and Women’s Hospital before joining Dana-Farber in 2015. He also has experience as assistant controller of Massachusetts General Hospital and has held several positions with Partners Healthcare, both in Boston. In addition to his role at Dana-Farber, Mr. Reney is on the board of the Fenway Community Health Center and Medical Academic and Scientific Community Organization.
Josh Repac. CFO of Meritus Health (Hagerstown, Md.). Mr. Repac serves as CFO for Meritus Health, a role that entails overseeing all financial actions of the health system. His responsibilities include managing finances, revenue cycle, supply chain and more. He was promoted to the role in 2022, after serving as vice president of revenue cycle and clinical support services. He played an integral role in an innovative partnership between Meritus and Goodwill, a partnership that created a pathway to employment for underserved community members and established a necessary medical care site.
Lisa M. Replogle. Senior Vice President and CFO of HonorHealth (Scottsdale, Ariz.). Ms. Replogle has more than 20 years of healthcare finance experience under her belt, and has been an integral part of HonorHealth since she joined the health system in 2015. Her current role involves overseeing financial and accounting functions, as well as patient financial services, supply chain, real estate, insurance contracting and construction management. Prior to working with HonorHealth, Ms. Replogle was the CFO for the Center for Orthopedic and Research Excellence in Phoenix.
LuCinda Rider. CFO of UHS Delaware Valley Hospital (Walton, N.Y.). Ms. Rider is responsible for overseeing all financial operations for the progressive critical access hospital. Some of her notable accomplishments include consistently leading the hospital to a positive bottom line 10 years in a row as well as implementing a successful strategic investment and cost containment plan. In addition to her role as CFO, Ms. Rider also serves as the UHS Delaware Valley Hospital compliance officer and as a board chair for UHS Employee Federal Credit Union.
Dan Rieber. CFO at University of Colorado Health (Aurora). Mr. Rieber was appointed CFO at the university system in 2018, overseeing 12 hospitals and 150 clinic locations. He joined the system in 2007 as a director of finance and controller. He has been in healthcare finance for two decades, previously working at Centura Health and the University of Iowa Hospitals and Clinics.
Kevin Roberts. Executive Vice President and CFO of Geisinger (Danville, Pa.). Mr. Roberts joined Geisinger in April 2018 as executive vice president and CFO, responsible for all financial activities in the health system. He most recently served as senior vice president and CFO of St. Louis-based BJC HealthCare. His background is in business development, corporate finance, health plans, mergers and acquisitions and financial operations.
Brigette Rose. CFO of LSU Health Sciences Center-Shreveport (La.). Ms. Rose joined LSU Health Sciences Foundation in 2018 and now oversees the health system’s finances. She has previous experience as the hospital’s department of neurosurgery business director. The health system is currently funding a $60 million expansion project on a center for medical education and wellness to address the healthcare workforce charges.
Mark Runyon. Executive Vice President and CFO at Tampa General Hospital (Fla.). Mr. Runyon joined Tampa General in 2020, spending more than 30 years in healthcare finance. He works with the system’s CEO to enhance operational efficiency and financial performance. He delivers timely and responsive patient billing support, supplies needed to deliver patient care, responsive patient friendly scheduling and timely access for patients. Prior to joining Tampa General, Mr. Runyon served as acting vice president of operational finance at Intermountain Health and senior vice president of operations finance at Inova Health System.
William Rutherford. Executive Vice President and CFO of HCA Healthcare (Nashville, Tenn.). Mr. Rutherford is Executive Vice President and CFO of HCA Healthcare, a role he took on in 2011. He now manages the health system’s treasury department, government programs and investor relations. During his 30-year career, he spent nine years as CFO of the health system’s Eastern Group, where he was responsible for 90 hospitals and $12 billion of net revenue.
Cheryl Sadro. CFO of UC Davis Health (Sacramento, Calif.). As CFO of UC Davis Health, Ms. Sadro provides executive oversight for financial functions, operations and planning for the $4 billion health system, which includes two hospitals, a large outpatient care network and two schools of health. Since assuming the role in 2022, she has assisted in the establishment of a new internal funds flow system, rewarding productivity and fairly allocating resources. She oversees a 13-story tower addition to the UC Davis Medical Center, a $6.5 billion construction project. In addition, she helps maintain one of the nation’s best cash-on-hand positions to maintain confidence in bond markets and financial liquidity.
Anthony Saul. Executive Vice President and CFO of Grady Health System (Atlanta). As executive vice president and CFO of Grady Health System, Mr. Saul is responsible for the fiscal health of the system, one of the academic safety net health systems in the nation. He focuses on long term financial sustainability and leadership accountability, which ensures that the system invests in people, planning and physical resources that improve the health of the overall community. He advises and supports the CEO and board of directors, and is responsible for the strategic direction of the organization.
Shelly Schorer. Interim President and CFO of CommonSpirit Health, Northern California Division (Chicago). Ms. Schorer serves as interim president and CFO of CommonSpirit’s Northern California division, which comprises 13 hospitals under the Dignity Health umbrella. She presents consolidated financial reporting, projections and other financial presentations for the division. Before joining Dignity Health in 2017, she served as a regional CFO for St. Louis-based Mercy Health.
Sidney Sczygelski. Senior Vice President and CFO of Aspirus Health (Wausau, Wis.). As CFO, Mr. Sczygelski is accountable for traditional accounting, financial and treasury operations within Aspirus Health. Additionally, he takes ownership of the supply chain, revenue cycle, system health plan, and mergers and acquisitions. He has spent over 31 years as the system’s CFO. He has been instrumental in driving growth from approximately $50 million to about $2 billion in net revenue from 1992 to 2023. During his tenure, he led the acquisition of various hospitals, clinics and other entities, leading the system to its current composition of 17 hospitals and 70 clinics.
Bob Segin. Executive Vice President and CFO of Virtua Health (Marlton, N.J.). Mr. Segin takes ownership of Virtua’s strategic financial planning and treasury management. He oversees mergers and acquisitions, physician joint ventures and business partnerships, planning and development, managed care, support services, construction management, supply chain, internal audit and corporate compliance. Under his guidance, Virtua became New Jersey’s first health system to receive an AA- credit rating from S&P Global and Fitch Ratings.
Richard Silveria. Senior Vice President and CFO of Cape Cod Healthcare (Hyannis, Mass.). Mr. Silveria is senior vice president and CFO of Cape Cod Healthcare. From 2017-21, he served as executive vice president and CFO of the University of Chicago Medical Center, overseeing finances for the health system’s community health and hospitals division. He previously spent time as senior vice president and CFO of Boston Medical Center. His background also includes 12 years as corporate director of revenue finance at Partners HealthCare in Boston.
J. Dean Swindle. President of Enterprise Business Lines and CFO of Catholic Health Initiatives (Englewood, Colo.). Since joining Catholic Health Initiatives in 2010, Mr. Swindle has overseen financial strategy, revenue cycle, payer strategy, treasury services and clinical engineering. He previously served as dean of Novant Health System in Winston-Salem, S.C., where he spent 11 years growing the system’s annual revenue from $800 million to $3.5 billion.
Michael Szubski. CFO at University Hospitals Cleveland. Mr. Szubski became the hospital’s CFO in 2008, controlling the system’s insurance, revenue cycle, financial operations, supply chain and more. He also leads the venturing division of the health system. In 2022, the hospital was faced with tough economic issues and Mr. Szubski spearheaded initiatives that led to its financial recovery, including reducing costs for the system, obtaining rebates through a value improvement program, enhancing revenue cycle performance and adding new ACA marketplace agreements. In 2021, he led the hospital through an EHR transition, joining Epic. Prior to joining the University Hospitals, Mr. Szubski worked at EMH Regional Healthcare System as its executive vice president and CFO.
Karen Testman, RN. CFO of MemorialCare (Fountain Valley, Calif.). Ms. Testman joined MemorialCare in 1998 and then became senior vice president of financial operations before her promotion to CFO in 2013. Ms. Testman was integral to the health system’s ambulatory growth and joint venture strategy. The health system also received positive ratings under her leadership. Ms. Testman has more than 20 years of leadership experience and worked with the system to invest in strategic physician acquisition, an EHR build and adding to its ambulatory network.
Paula Tinch. Executive Vice President and CFO of Penn State Health (Hershey, Pa.). Ms. Tinch joined Penn State Health in 2019 as executive vice president and CFO. She is responsible for the health system’s financial planning, financial risk management and revenue cycle. Prior to joining Penn State Health, Ms. Tinch was senior vice president of finance for Rochester Regional Health in N.Y., where she was responsible for core functions and aspects of the $2.2 billion health system.
Patt Vilt. Senior Vice President and CFO at Riverside Health (Kankakee, Ill.). Ms. Vilt is in charge of Riverside’s financial operations and key strategic responsibilities for the organization. She also leads the system’s pharmacy program and serves as its chief compliance officer. She has more than 25 years of experience in healthcare finance, and navigated Riverside through the challenges of COVID-19. She joined the organization in 1995 as a reimbursement analyst and was promoted to CFO in 2021 after moving her way up in the system.
Jennifer Wakem. CFO of University Medical Center of Southern Nevada (Las Vegas). Ms. Wakem now has five years of experience as CFO of University Medical Center of Southern Nevada. She oversees the financial health of the hospital, which includes Nevada’s only level 1 trauma center, pediatric trauma center, burn care center and transplant center. She has previous experience as associate CFO of Tenet Healthcare.
Cheryl Wathen. Senior Vice President and CFO at Deaconess Health System (Evansville, Ind.). Ms. Wathen has been with Deaconess for 30 years, growing the system from a single hospital to a 13 hospital operation across three states. She has helped to build strategy and ensure that the system has capital to expand. She has set up a patient payment program that allows patients to pay their bills and build credit without occurring interest expenses.
Sean Whilden. Vice President and CFO of Houston Healthcare. Mr. Whilden joined Houston Healthcare in 2012 after serving as system controller of DeKalb Regional Health System in Decatur, Ga. As CFO of Houston Healthcare, he oversees financial aspects of the 282-bed health system that provides inpatient and outpatient services. The health system has seven separate locations and serves around 300,000 people annually.
Bonnie White. CFO of UNM Hospital (Albuquerque). Ms. White oversees the finance department at UNM Hospital, part of the UNM Health System, which includes the only academic medical center in New Mexico. With providers specializing in over 150 areas of medicine, the system cares for over a million patients per year and handles about 22,000 surgical cases annually.
Christine Williams Bond. CFO of University Medical Center New Orleans. As CFO of University Medical Center New Orleans, Ms. Williams Bond oversees the financial department for the 446-bed hospital. She has previous experience as assistant CFO of Atlanta Medical Center and controller at Emory Johns Creek (Ga.) Hospital.
Gena Wingfield. Executive Vice President and CFO of Arkansas Children’s (Little Rock, Ark.). Ms. Wingfield is the executive vice president and CFO for Arkansas Children’s, where she is responsible for all financial matters and functions of the health system. She actively participates in ideating and executing the system’s overall strategic plan and determines the financial impact of external factors on the organization, such as changes in Medicaid funding. She brings over 35 years of experience at the health system to her role, and has played a large part in Arkansas Children’s becoming financially healthy.
Jeanette Wojtalewicz. Senior Vice President and CFO of CHI Health (Omaha). Ms. Wojtalewicz has more than 30 years of experience in healthcare finance and is a past president of the Healthcare Financial Management Association in Nebraska. In her role as CFO of CHI Health, Ms. Wojtalewicz oversees the financial operations of a 28-hospital, 800-employed physician health system. She also serves on the CyncHealth, Midlands Choice, and Nebraska Total Care boards. Ms. Wojtalewicz has been recognized by a number of organizations for her work, including by the Healthcare Financial Management Association with the Gold Merit Award, and the Lincoln Family Medicine Program with the John C. Finegan Award.
Stacey Woodroof. CFO of Orlando (Fla.) Health Medical Group. In her role as CFO for Orlando Health Medical Group, Ms. Woodroof is accountable for business growth and revenue, financial operations, real estate project management, strategy and acquisition support, and physician compensation contracting. In 2020, she created HealthCare Pink, a project aiming to support working mothers in a COVID-19 world; the project is currently in the final stages of a U.S. trademark status and pending a launch date. In 2019, Ms. Woodroof was recognized with the Nashville Business Journal CFO award for non-profit/institution for her work as a financial steward and leader.
David Wrigley. Executive Vice President and CFO of Cedars-Sinai Health System (Los Angeles). Mr. Wrigley is executive vice president and CFO of Cedars-Sinai Health System. He is responsible for financial planning and reporting, revenue cycle, treasury, financial operations, capital structure and planning, risk management, corporate compliance, ventures and technology transfer. He is devoted to Cedar-Sinai’s mission and supports its unique role in patient care, research, education and community benefit.
John L. Zabrowski, III. Senior Vice President, CFO and Chief Strategy Officer of VHC Health (Arlington, Va.). A seasoned healthcare executive with over a decade of healthcare industry experience, Mr. Zabrowski focuses on strategic planning and financial stewardship at VHC Health. He works to ensure the health system can serve the region’s healthcare needs by providing access to high quality, affordable services. He owns systemwide strategy and planning, strategic financial planning and analysis, financial reporting, accounting and disbursements, decision support, investment management, revenue cycle, capital funding and more. He has been a key player in aggressively positioning VHC Health for continued high acuity growth through expansions of its specialty programs.
Stacey Zimmer. CFO at AVALA (Covington, La.). Ms Zimmer focuses on the health system’s financial strategy, financial operations, risk management and compliance. She has overseen the expansion of the physician network satellite locations. She works closely with AVALA’s physician owners, executive leadership, board of directors and stakeholders to help guide expansion. She is also building a foundation for the hospital’s revenue cycle management process.
HENRY KOTULA 