CFO Andy Woodard: Helping Produce Strong Results at Forrest General Hospital
For the past 11 years, Andy Woodard has served in various financial capacities at Forrest General Hospital in Hattiesburg, Miss., and as CFO, he has helped the hospital maintain its strong financial position in the region.
This week, Moody's Investors Service affirmed FGH's A2 revenue bond rating. Moody's analysts said Mr. Woodard and the FGH executive team have held a sizeable market share as a public-owned facility — a revenue base of $400 million with 31,300 admissions and 12,400 surgeries in fiscal year 2011 — and their strong relationship with Hattiesburg Clinic, the largest multispecialty clinic in the state, has also grown market share.
Mr. Woodard has helped stabilize the hospital's "healthy cash balance," according to Moody's, as FGH had $229 million of total unrestricted cash and investments as of June 30, 2012, which equates to roughly 213 days cash on hand.
Before joining FGH, Mr. Woodard was CFO and later CEO of a small rural county hospital in Mississippi. Mr. Woodard, a certified public accountant, also has three years of public accounting experience where he focused on auditing and Medicare cost reporting.
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