CFO Nesha Donaldson: Stabilizing Revenue at Cullman Regional Medical Center
Serving six counties and 150,000 residents is a big task for a small hospital like Cullman (Ala.) Regional Medical Center, and it presents financial challenges for CFO Nesha Donaldson to manage a huge need with 145 beds.
In November, Moody's Investors Services affirmed Cullman's "Ba1" rating on $66 million in outstanding bonds, with a negative outlook considering the hospital's 46 percent cash-to-debt ratio and a total of $4 million of bad debt to be written off by next fiscal year.
However, Ms. Donaldson and the hospital have some tools in their arsenal for a comeback. For one, it's the only hospital in Cullman County after it bought out its competitor in 2009. It also recently affiliated with University of Alabama Birmingham Hospital to perform interventional cardiology procedures to help Ms. Donaldson and Cullman retain that revenue stream.
Previously, Ms. Donaldson was controller of Cullman for eight years. She also served in financial roles at two Alabama-based companies, Cullman Electric Cooperative and Drummond Company.
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