CFO Paul Staton: Elevating the Financial Structure of UCLA's Hospitals
Paul Staton has been the permanent CFO of the University of California Los Angeles Hospital System since March 2005. Despite the pressures of running a billion-dollar organization, he thinks the experience is nothing short of "fun."
"There's a lot of energy going on, and we are truly trying to run UCLA Medical Center as a business with standard business practices and tools," Mr. Staton said in the UCLA Today seven years ago, soon after he was named permanent CFO. "It's a lot of long hours, but believe it or not, we're actually having fun."
Mr. Staton, a certified public accountant, has been with UCLA since 1996 and has roughly 30 years of healthcare financial experience working for various hospital organizations in southern California. He was the hospital system's controller and then became interim CFO in September 2004.
This year, the Los Angeles Business Journal named Mr. Staton a finalist for its Health Care Leadership Awards. The year Mr. Staton was named CFO of UCLA Hospital System, the organization recorded a net loss of $15 million, but in fiscal year 2011, the system recorded roughly $300 million in net income on $1.7 billion in revenue.
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