CFO Kevin Brennan: Trailblazing Bundled Billing at Geisinger Health System
Geisinger is known for pioneering an innovative bundled payment model, set in place in 2010, allowing patients to purchase packages of care at fixed monthly costs. After two years of implementation, the organization took in $2.9 billion in revenue in fiscal year 2012, 11.7 percent more than the previous year, with a 5.3 percent operating margin.
"As a not-for-profit organization, we reinvest every dollar we make into enhancing healthcare for the people of central and northeastern Pennsylvania," Mr. Brennan said in Geisinger's 2012 annual report. "Our charitable mission, combined with our financial strength, makes it possible for us to reinvest in our people, programs, facilities and technology, further our research efforts, train medical professionals and serve as a major driver of the regional and state economy."
Mr. Brennan previously served as CFO of the Penn State Geisinger Health System from 1997 to 2000. Before that, he served as vice president of finance for Saint Michael's Medical Center in Newark, N.J., and vice president of finance for The Germantown Hospital and Medical Center in Philadelphia.
If you have more information or updates for this profile or would like to recommend a leader to be profiled in the future, please contact Lindsey Dunn, editor in chief, Becker's Hospital Review at email@example.com.
More Articles on Hospital CFO Profiles:CFO Don Pounds: Overseeing New Growth at Baptist Memorial Health Care
CFO Clint Adams: Working up the Ladder at Ardent Health Services
CFO Kevin Walstrom: Mission-Driven Financial Leadership at PeaceHealth
© Copyright ASC COMMUNICATIONS 2015. 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.