CFO Brian Derrick: A Positive Influence at Summa Health System
Brian Derrick joined Akron, Ohio-based Summa Health System in November 2011 as CFO. Although he has only been with the organization for roughly nine months, he has helped maintain its solid operating levels and strong liquidity metrics — all while following his leadership mantra.
According to The Pulse, Summa Health System's employee newsletter, Mr. Derrick takes his CFO leadership role seriously and wants to promote a positive culture within the system.
"A good leader is someone who understands the way you make effective and positive change happen is often times through influence and not by being directive," Mr. Derrick said.
Fitch Ratings has noticed his positive aura, as it affirmed the health system's BBB+ debt rating. Since Mr. Derrick joined Summa Health System, it has improved operating profitability, and liquidity metrics have improved each year since fiscal year 2008. As of March 31, 2012, Summa Health System's cash-to-debt ratio was 95.8 percent, and its cushion ratio was 12 times.
Before Summa Health System, Mr. Derrick led the finances at Philadelphia-based Albert Einstein Healthcare Network as CFO. He has also held various financial leadership roles at Jefferson Health System in Philadelphia and University of Pittsburgh Medical Center.
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