CFO Bruce Burns: Delivering Operational Stability to Concord Hospital
Bruce Burns, senior vice president of finance and treasury and CFO of Concord (N.H.) Hospital, arrived on the Concord scene roughly 20 years ago in June 1993, and the hospital has been able to thrive and record solid operating performances since beginning his executive tenure.
Mr. Burns and the entire management team have grown Concord Hospital's dominant market share to 86 percent, and Moody's Investors Service analysts said the hospital is the "demographically favorable primary service area of the state capital."
In fiscal year 2011, Concord Hospital recorded a 3.3 percent operating margin and 9.7 percent operating cash flow margin in a state that has recently struggled with massive Medicaid cuts. Moody's analysts also noted the hospital's strong volume growth last year, as inpatient admissions grew 5 percent.
Mr. Burns has helped to grow the hospital's absolute liquidity to $181.4 million at the end of FY 2011, and cash on hand has remained stable at a comfortable 164 days — a major reason Moody's affirmed Concord Hospital's A2 bond rating and stable credit outlook.
Prior to joining Concord Hospital, Mr. Burns served as director of finance, director of accounting, assistant controller and assistant director of operations at Danbury (Conn.) Hospital. He also is a board and finance committee member of the Riverbend Community Mental Health Center in Concord, and he also is the past president of the Hopkinton (N.H.) Youth Sports Association.
More Articles on Hospital CFO Profiles:
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.