CFO James Sances: Solid Solvency at Alexian Brothers Health System
Alexian Brothers officially merged with St. Louis-based Ascension Health in January 2012. Mr. Sances and the entire executive team have started to see myriad benefits from the merger, and Moody's Investors Service also took notice as it recently upgraded Alexian Brothers' bond rating to A2 from A3.
Moody's analysts said in a report that Mr. Sances and the health system have improved operating margins in fiscal year 2011 to 9.5 percent adjusted operating cash flow margin, and Alexian Brothers is expected to see even greater solvency as Ascension's size and leverage could generate supply cost savings and lower insurance premiums.
"The stable outlook at the higher rating level reflects our belief that ABHS will maintain improved operating margins and begin to realize the benefits of being owned by a larger health system," according to the report.
Mr. Sances has been at Alexian Brothers for most of his professional career. He started at Alexian Brothers Medical Center in 1978 as controller and made his way up to vice president of finance of the health system. In 1998, he joined Lovelace Health System in Albuquerque, N.M., as CFO, but he came back to Alexian Brothers in 2001 in his current position.
More Articles on Hospital CFO Profiles:
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.