CFO Larry Hudson: Powering Charleston Area Medical Center's Fiscal Sustainability
Larry Hudson has served as CFO of Charleston (W.Va.) Area Medical Center since 1999, and he has been a key figure in maintaining the fiscal health of one of the state's largest and most prominent health systems.
Recently, Moody's Investors Service affirmed the A3 ratings on CAMC's revenue bonds and upgraded the health system's rating outlook to stable from negative. After a momentary rough patch, Mr. Hudson and the administration have improved CAMC's financial performance and have become one of the leading healthcare providers in West Virginia.
In fiscal year 2011, CAMC's operating margin rose to 3.7 percent, while operating cash flow margin improved to 9.6 percent, as Mr. Hudson and the executive team took extra steps to realize cost and revenue opportunities.
Prior to joining CAMC, Mr. Hudson served as CFO of Mount Sinai Medical Center in Miami Beach, Fla., for more than 13 years. He also served as CFO of Humana's Florida operations for six years and CFO of Atlanta West General Hospital. Mr. Hudson, a certified public accountant, also is the current chairman of the board of directors finance committee and audit committee for the Safety Net Hospitals for Pharmaceutical Access.
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