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Executive Vice President Resume

Titusville Florida Executive Vice, PresidenT

SUMMARY:

  • A highly accomplished and top - performing corporate finance executive specializing in the health care industry, with vast experience and success in analytical operational review, financial planning and forecasting, information technology, capital development and debt restructure, strategic and cultural development, revenue cycle, leadership development, performance improvement, Lean/Six Sigma, and supply chain.
  • Also, extremely well versed in physician practice operations and revenue cycle, home health, and hospital outpatient ancillary operations.
  • Proven leadership capabilities as a dedicated change agent who identifies and acts on areas for improvement and enhancement for the overall mission, including strategic, operational, and financial goals in an atmosphere that focuses on quality and long-term success.
  • Developed outpatient diagnostic center.
  • Received recognition for number of culture-related items in 16 years, including U.S. News and World Report Top 100 Places to Work.
  • Purchased and held operational responsibility for home health agencies and comprehensive outpatient rehab facilities, including integrating them into hospital as departments.
  • Conducted annual presentations to credit rating agencies (Fitch and S&P).
  • Facilitated monthly board meetings, and held responsibility for developing agenda and reporting to committees, including finance, audit, investment, pension (chair), and planning.
  • Created ad hoc community advisory board for developing outpatient diagnostic facility, meeting monthly during three years prior to opening and one year after opening facility.
  • Collaborated with community to ensure needs and expectations were met.
  • Developed eight-member, single-entity IDN for supply chain.
  • Served as driving force with Confidential CFO for Southeast to convince other members of excellent way to save money and remain independent.
  • Partnered with lobbyists, including Florida Hospital Association, and other tax district hospitals to increase Medicaid reimbursement, ranging from $2,200,000 to $6,500,000 over last ten years.
  • Created revenue integrity department.
  • Formed and led clinical quality value analysis teams.
  • Implemented compliant documentation program.
  • Worked with case management and physician leader of utilization review committee to reduce average length of stay by more than 10% all four years.
  • Carried out budget planning, including three-year projection and what-if scenarios of volume increases and decreases of 2% to 5%.
  • Convinced board, Titusville City Council, and Brevard County Commissioners of financial benefits by showing five, ten, 15, 20, and 25-year impacts of spending money versus maintaining cash for investment purposes.
  • Created feasibility study for development of outpatient diagnostic center.
  • Developed and implemented clinical quality value analysis teams, resulting in savings ranging from $235,000 to $1,052,000 over last seven years.
  • Collaborated with Confidential Southeast in developing single IDN for eight member hospitals to combine purchasing strength, resulting in savings of $2,100,000 over four years.
  • Engaged in RFP process, and selected new group purchasing organization, resulting in $1,300,000 savings in first year.
  • Received training as computer auditor.
  • Worked with third-party vendor from 1992-1994 in development of Medicare billing and cash posting program.
  • Developed interface to post electronic remittance advice from fiscal intermediary into hospital's accounts receivable system, including comments on claim denial and patient's responsibility to allow collectors to follow up with patient weeks sooner, accelerating secondary billing cash collections.
  • Implemented EMR system, along with additional modules needed to be compliant with meaningful-use guidelines.
  • Remained with MEDITECH as long-term EMR partner, and successfully implemented new 6.X version.
  • Met Stage 1, year two goals, and submitted Stage 2 data as being compliant with meaningful use guidelines.
  • Worked with board, Titusville City Council, and Brevard County Commissioners to explain cash-borrowing needs.
  • Issued auction rate security bonds, and entered into fixed-rate interest rate swap, locking hospital's interest at 3.122% (2003).
  • Educated self, and created board ad hoc committee to ensure education and comfort before executing complex financial transactions.
  • Built outpatient diagnostic center, and borrowed $35,000,000 to buy land, equipment and to construct Silver LEED-certified building.
  • Gathered ad hoc committee back together to discuss entering into another interest rate swap for bond issue.
  • Engaged in same process noted above for over eight to nine months while markets aligned, allowing achievement of desired financial impact.
  • Locked in fixed interest rate of 4.25%.
  • Exited swaps during 2008 with positive return of $450,000 and $35,000.
  • Issued fixed-rate bonds in 2008 at rate of 5.69%.
  • Convened ad hoc committee to discuss entering into new interest rate swap, resulting in rate of reduction to 4.6% on 50% of debt (2009).
  • Entered another interest rate swap, reducing other 50% of debt to 5.15%.
  • Partially terminated January 2009 swap three times, resulting in cash infusion of $1,200,000; $1,000,000; and $1,500,000.
  • Accelerated cash collection from swap.
  • Completed direct bank loan for 65% of the outstanding 2008 bonds in 2014, and locked in interest rate at 3.0% over 15-year period, resulting in $800,000 per year savings over 15-year period and NPV of 18.6%.

EXPERIENCE:

Confidential, Titusville, Florida

Executive Vice President

Responsibilities:

  • Oversaw physician practice management, Sodexo food and nutrition contract services, plant operations, clinical engineering, new construction, and financial responsibilities for all subsidiaries and joint ventures.
  • Directed general accounting, budgeting, cash management, investment strategies, third-party reimbursement, managed care negotiations, preparation of financial statements and reports, accounting/finance supervision, business office (hospital and physician practices), patient registration, health information management, information systems, managed care, case management, home health, freestanding outpatient diagnostic center, health and fitness, employee health clinic, and physician practice management.
  • Prepared annual presentations to credit rating agencies.
  • Managed day’s cash on hand over 300 days while maintaining cash investments over $100,000,000 for 15 years.
  • Maintained A/R days (mid-50s) and cash collections (above 100% net revenue) during economic downturn period (2008-2013), including shutdown of space shuttle program in 2010.
  • Created revenue integrity department in 2009, and identified $1,000,000 in lost revenue per month in year one.
  • Implemented compliant documentation program (J.A. Thomas), resulting in 9% increase in case mix index and $3,500,000 additional net revenue over each of last four fiscal years.
  • Maintained all managed care contracted rates above market level, creating standardized contract language for hospital and physician contracts, as well as created scorecards to review with providers quarterly on performance.
  • Improved point-of-service cash collections annually since 2004, ranging from 20% to 91% annual improvement.
  • Increased annual upfront self-pay cash collections from $216,000 in 2004 to $2,760,000 in fiscal year 2013.
  • Worked with human resources and health insurance consultant to reduce costs per employee per month (PEPM) by 6.0% in five-year calendar period, averaging 1.2% per year.
  • Created and implemented board audit committee in accordance with Sarbanes-Oxley criteria.
  • Developed new investment policy increasing investment earnings over $1,000,000 in first year.
  • Reduced bad debt and community and charity care, with following continuing declining trend:

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