CFO F. Joseph Byorick: Dabbling in Lancaster General Hospital's Finances for 40 Years
Mr. Byorick's 40-year career with LGH has led him to dabble in many of the hospital's financial sectors, including accounting, reimbursement, finance, acquisitions, payor negotiations, financial strategy development and more. He officially became CFO of LGH in January 2001.
Recently, Moody's Investors Service affirmed LGH's Aa3 rating on its outstanding debt, signifying LGH has high-grade, long-term debt and is at an investment-grade level.
Moody's analysts said Mr. Byorick and the LGH financial team have captured a substantial amount of its county market share at 72 percent. LGH's liquidity ratios also "remain a key credit strength," as it has more than $659 million of unrestricted cash equating to roughly 272 days cash on hand at the end of fiscal year 2011.
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