CFO Pat Gerveler: Propelling Financial Stability at Blessing Health System
Pat Gerveler, CFO of Blessing Health System in Quincy, Ill., has been with the organization for 20 years now, and the health system is amidst one of its most stable financial periods.
Last week, Moody's Investors Service affirmed the A3 bond rating on Blessing Health System's $37 million of debt. The ratings agency said Mr. Gerveler and the executive team continue to show "strong operating performance and balance sheet measures" as the health system is sole provider of healthcare services in the city.
Moody's analysts also credited Mr. Gerveler and the financial team with many beneficial payor contracts, which have allowed the hospital to "translate market position into favorable rates and contribute to strong cash flow," according to the report. As of July 31, 2012, Blessing Health System had a "strong" 187 days cash on hand and operating cash flow margins between 10 and 11 percent.
Before joining Blessing Health System, Mr. Gerveler worked for a regional public accounting firm, Gary Hunter Stenn LLP, as the lead auditor.
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