CFO Kerri Ruppert Schiller: Changing the Financial Tides of CHOC Children's
When Kerri Ruppert Schiller joined the Children's Hospital of Orange County in Orange, Calif., as senior vice president and CFO in 1998, the hospital had suffered the largest operating loss in its history at $19 million. However, by the end of the fiscal year ended June 30, 2000, all of that had changed.
CHOC Children's Hospital recorded an operating profit of $4.9 million that fiscal year, and Ms. Schiller also helped CHOC obtain an A+ credit rating from both Fitch Ratings and Standard & Poor's in 2004. Total revenue increased roughly 215 percent during the first 10 years of her CHOC CFO tenure, and the hospital's market share has increased from 56 percent to 68 percent in the five-year period ended 2008.
According to CHOC Children's website, Ms. Schiller was able to lead the financial turnaround through tighter financial controls, renegotiated contracts with payors and medical groups and other various strategic initiatives.
Some of Ms. Schiller's most recent initiatives for CHOC Children's include its reorganized master plan — CHOC has issued more than $351 million in tax-exempt bonds to fund several construction projects, including a new patient tower that is scheduled to open in March 2013.
Prior to arriving at CHOC Children's, Ms. Schiller served as senior vice president and CFO of Comprehensive Care Corporation, a for-profit company involved in the management of freestanding healthcare facilities and in-hospital programs.
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