CFO Peg Burnette: Leading Financial Stability for Denver's Safety Net
Denver Health serves as the primary safety-net organization for both Denver and the state of Colorado, and Denver Health CFO Peg Burnette has found ways to keep the health system viable despite its challenging payor mix.
Medicaid is Denver Health's biggest payor, and although the program does not reimburse the cost of services, Ms. Burnette says Lean processes and strategies have helped its hospitals save money while continuing to provide care for those most in need.
Fitch Ratings has also taken notice, as it recently affirmed the BBB+ rating on Denver Health's $222 million in revenue bonds. Fitch analysts said Denver Health has several fiscal challenges as a public safety-net institution, but Ms. Burnette and the executive team have kept Denver Health's debt burden low.
"Management continues to implement Lean initiatives to increase operating efficiencies and has engaged a consultant to identify potential areas to increase productivity related to workforce management," Fitch analysts said.
Before joining Denver Health, Ms. Burnette served in various financial executive roles at Oakland, Calif.-based Kaiser Permanente and National Jewish Health in Denver.
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