CFO Bill Overbey: Bolstering Liquidity at Hays Medical Center
Hays (Kan.) Medical Center covers a very broad service area, and CFO Bill Overbey has made certain the hospital's profitability and liquidity stay among the top in the state.
Recently, Moody's Investors Service affirmed Hays Medical Center's "A2" bond ratings, which affects over roughly $78 million of outstanding debt. Moody's analysts credited Mr. Overbey and the executive team for their ability to record "strong balance sheet ratios and a track record of profitability" at the 222-bed facility, which is somewhat small for an "A2"-rated facility.
At the end of Hays Medical Center's 2012 fiscal year, Mr. Overbey recorded 243 days cash on hand, a 10 percent operating cash flow margin and more than $200 million in operating revenue. Mr. Overbey and the financial staff have been able to maintain the solid financials even as Medicare represented 53 percent of gross revenue in FY 2012, which is significantly higher than Moody's overall median of 43.7 percent.
Mr. Overbey has held several other positions within Kansas' hospital and healthcare sector. Before joining Hays Medical Center as CFO in 2001, he was the CFO of Geary Community Hospital in Junction City, Kan. Mr. Overbey was also the director of budget and reimbursement at Via Christi Medical Center in Wichita, Kan., the director of finance for the Kansas Hospital Association and a senior auditor for Blue Cross and Blue Shield of Kansas.
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