CFO Jim Budzinski: Supporting WellStar Health System's Financial Growth
Since July 2008, Jim Budzinski has been the executive vice president and CFO of WellStar Health System, and he has helped the Marietta, Ga.-based system shore up its finances and credit into a solid and stable state.
Moody's Investors Service recently affirmed WellStar's Aa3 long-term rating on $414.3 million of outstanding revenue certificates, and Mr. Budzinski and the financial management have produced year after year of successful results.
WellStar currently has $1.6 billion in combined revenue across its five acute-care hospitals and vast physician base, and it has a 59 percent market share of northwest Atlanta. Mr. Budzinski has overseen several consecutive years of strong financial performance, as WellStar recorded $181.5 million of operating cash flow in fiscal year 2011 for an 11.4 percent operating margin.
WellStar also has roughly 176 days cash on hand, and Moody's analysts praised Mr. Budzinski and the "strong management team that has planned and implemented growth and performance improvement strategies sustaining healthy financial growth over the last several years."
Before joining WellStar, Mr. Budzinski served as CFO of St. John's Health System in Springfield, Mo., and as CFO of Sparrow Health System in Lansing, Mich. In 1999, the American Hospital Association recognized him as an "International Emerging Healthcare Leader, and he also worked with healthcare clients as part of accounting firm Arthur Andersen.
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