CFO Eddie Klein: Helping to Turn Around a Public Hospital's Finances
In the fiscal year ended Sept. 30, 2011, the health system's earnings before interest, depreciation and amortization, or EBIDA, increased 107 percent from $7.9 million in 2010 to $16.33 million in 2011, according to a Smithfield Herald report. Mr. Klein, along with CEO Chuck Elliott, has helped the public hospital system reach a more profitable stage.
Mr. Klein officially became Johnston Health's CFO last June and was the interim CFO since April 2010. Prior to his current post, he was the CFO of Northwest Health System, a three-hospital system based in Bentonville, Ark., and owned by Franklin, Tenn.-based Community Health Systems. He also was CFO of Moberly (Mo.) Regional Medical Center, another CHS-operated hospital.
Most of Mr. Klein's healthcare financial career was spent at Adventist Health System, based in Altamonte Springs, Fla. While there, he served as CFO of four different hospitals throughout Florida and Georgia.
In another Smithfield Herald report, Mr. Klein said his previous professional experience has helped him to be a part of Johnston Health, where the financial picture is looking more auspicious. "I think we have the worst behind us," he said. "There will always be challenges, even in the best of times. We're positioning Johnston Health so that it can more effectively respond to those challenges."
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