CFO Denis Ryan: Reigning Over Finances at Children's Hospital of the King's Daughters
As Virginia's only stand-alone pediatric hospital, Norfolk-based Children's Hospital of the King's Daughters serves high-need youth from a wide area spanning across state lines. To meet the need, CHKD employs or is the sole contractor for every pediatric specialist in the Hampton Roads region.
Stability, then, is key for CFO Denis Ryan, a 30-year accounting veteran. He oversees the finances of the hospital, which has an 84 percent inpatient market share in the region.
The company budgets conservatively and keeps a moderate 20 percent debt-to-revenue ratio, according Moody's Investors Services. This fall, Moody's upgraded CHKD’s $76 million in outstanding bonds to “A2” from “A3.”
Despite a three-year downtrend in inpatient volumes, operating margins have improved to a 7 percent operating margin and a 13 percent operating cashflow margin for the past two fiscal years.
Mr. Ryan has been CFO at CHKD since 2003, moving from California. He is a CPA and holds a master’s degree in Health Administration from Chapman University.
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