CFO John Faulstich: Approaching 30 Years of Financial Health System Leadership
Mr. Faulstich had a longstanding tenure as senior vice president of finance and CFO of the Cleveland-based Sisters of Charity of St. Augustine Health System. From 1984 to 2008, he led that system — which included five wholly-owned and joint ventured hospitals in Ohio and South Carolina — in financial governance, strategy, contracting, treasury and merger and acquisition activities.
While at Sisters of Charity of St. Augustine Health System, he spurred a 50-50 joint operating venture with University Hospitals and Health Systems of Cleveland in 1999. Mr. Faulstich also consolidated and managed information systems for three hospitals, which generated $5 million in annual savings and improved effectiveness.
Now, Mr. Faulstich heads the finances of UAB Health System, one of the largest academic medical centers in the country with roughly 2,200 patient beds across its seven hospitals. UAB Hospital, the flagship facility, provides roughly $60.7 million in charity care every year, and charity care across the entire UAB Health System tops $101 million.
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