CFO Mike Bunch: Rounding Out KershawHealth's Operating Plan
Mike Bunch serves as CFO and COO of KershawHealth in Camden, S.C., and over the past several years, he has helped shore up the finances of a health system that primarily relies on government payors.
Roughly 67.2 percent of KershawHealth's gross revenue in fiscal year 2011 came from Medicare and Medicaid, but Mr. Bunch and the executive team were still able to turn a positive 1.4 percent operating margin that same year — a night-and-day difference from FY 2010's operating margin of negative 1.4 percent.
Fitch Ratings believes Mr. Bunch and the executive staff have KershawHealth in a solid financial standing, as the ratings agency recently affirmed the health system's BBB+ credit rating. Fitch analysts said the health system, which includes the 121-bed Medical Center in Camden, has favorable inpatient volume trends, a stable operating EBITDA margin at 6.9 percent and leading market share in its primary service area.
"The rating outlook is stable and reflects Fitch's expectation that Kershaw will sustain current operating improvements, which coupled with its lightening debt burden, should further strengthen Kershaw's overall credit profile," according to Fitch's report.
Mr. Bunch first started at KershawHealth in 2006 as vice president of ancillary services and strategic planning before becoming CFO and COO.
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