President & CEO
Chief Executive Officer with P&L accountability for 365-bed community teaching hospital which generates $200 million in annual revenue.This hospital was the second investor-owned hospital in NJ.The hospital also includes a comprehensive cancer center, a school of nursing and residency programs in internal medicine, family practice, dentistry, and podiatry.
·Recruited new executive team and 13 new department directors, to lead the transformation of this formerly not-for-profit facility which was losing money, to a successful investor-owned hospital.
·Recruited (in collaboration with key referring physicians) a new Radiology group to replace locum’s physicians who had been servicing the hospital for the last 2 years. This has resulted in more than 30% increase in volume and saved over $2.5M in staffing expenses.
·Obtained 4.6% EBITDA margin in the first 6 months of ownership.
·Established positive relationships with the medical staff.
·Recruited 40 new physicians so far in 2008, and have another 30 in the pipeline.
·Reduced Medicare length of stay by .5 days in first 6 months, and by .75 over 15 months.
·Improved productivity by 12% and eliminated most agency/contract labor.
·Expanded outpatient services resulting in growth of 30 – 100% of key outpatient volumes.
·Improved core measure performance from bottom quartile to middle and top quartiles.
·Received full reaccreditation by JCAHO with only 7 RFI’s.