CFO Paul McDowell: Raising Cash Flow Margin at King's Daughters Medical Center
For the past 12 years, Paul McDowell has served as CFO of King's Daughters Medical Center, a tertiary medical center that is at the crossroads of Kentucky, Ohio and West Virginia.
The 465-bed KDMC is located in Ashland, Ky. Mr. McDowell has helped the hospital post some of its best financials in several years, as Moody's Investors Service recently affirmed KDMC's "A1" credit rating and gave a stable outlook.
Moody's analysts said Mr. McDowell and the entire "tenured and seasoned senior management team" have successfully implemented strategic plans to improve operating performance in the past several years. In fiscal year 2010, KDMC's operating cash flow margin was 8.5 percent. In FY 2011, it rose to 9.6 percent, and this past year, it stood at 10.5 percent.
Moody's also praised the hospital's liquidity, which had 213 days cash on hand at the end of FY 2012 — jus above the median for "A1"-rated hospitals and health systems.
Before joining KDMC, Mr. McDowell held several other financial roles in the healthcare sector. He served as CFO of Midwest Regional Medical Center in Midwest City, Okla., and CFO of Lake Norman Regional Medical Center in Mooresville, N.C. He also spent time at Ernst & Young as a senior auditor.
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