CFO Dan Moncher: Upgrading Credit at Firelands Regional Medical Center
Dan Moncher, CFO of Firelands Regional Medical Center in Sandusky, Ohio, has been with the 400-bed teaching hospital since 1997, and he has been instrumental in helping Firelands achieve financial stability.
Yesterday, Moody's Investors Service upgraded Firelands' bond rating to Baa1 from Baa2 due in large part to the past "several years of consistently improving operating margins and growth in unrestricted cash and investments," which directly falls under the responsibilities of Mr. Moncher and other financial executives at the hospital.
Mr. Moncher's responsibilities include all aspects of Firelands' financial, capital, investment and debt management, and he also ensures the revenue cycle, managed care contracting, graduate medical education, banking and other strategic plans are in top shape.
In its rating upgrade report, Moody's analysts said Mr. Moncher and other hospital executives have put Firelands in a strong cash position. As of Sept. 30, Firelands had 228 days of cash on hand. The hospital has also recorded two straight years of operating income due to the acquisition of a surgery center and attaining better commercial payor rates, according to the report.
Before he joined Firelands, Mr. Moncher served as regional vice president and CFO of Mercy Hospital in Tiffin, Ohio, and Mercy Hospital in Willard, Ohio. He has more than 25 years of healthcare financial experience.
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