CFO Edward Prunchunas: Financial Fortitude at Cedars-Sinai Medical Center
Few healthcare CFOs have to deal with the size and scope of an organization like Los Angeles-based Cedars-Sinai Medical Center, which has roughly $2.5 billion in revenue, and Edward Prunchunas has been doing it for almost 15 years.
Mr. Prunchunas serves as senior vice president of finance and CFO of Cedars-Sinai and has been in those positions since 1998. He has held other roles within Cedars-Sinai, including associate director of finance, director of finance and vice president of finance.
During his CFO tenure at Cedars-Sinai, Mr. Prunchunas has witnessed large growth and robust profitability. In a September 2011 report from Fitch Ratings, Fitch analysts affirmed the academic medical center's "A+" credit rating on its revenue bonds. They also said Cedars-Sinai's operating profit margin of 6.1 percent was more in line with "AA"-rated facilities.
In 2012, Mr. Prunchunas also oversaw the flow of more than $50.6 million in research funding from the National Institutes of Health and other federal sources and $59.4 million in donations.
Outside of Cedars-Sinai, Mr. Prunchunas was the CFO of Northridge (Calif.) Hospital Medical Center in the late 1980s, and he also worked on the consulting staff of accounting firm Ernst & Ernst, which is now known as Capgemini.
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