CFO Thomas Johnson: Positioning Southeastern Regional for Success
Standard & Poor's Ratings Services and Fitch Ratings each recently rated SRMC's bonds with an "A" rating. Fitch analysts said the biggest drivers for SRMC's positive credit rating were its strong market share, solid liquidity and manageable debt burdens. Mr. Johnson has helped grow SRMC's market share to 63.3 percent in its primary service area, and the hospital's cash-to-debt ratio stood at 252.3 percent in the last quarter.
S&P similarly credited Mr. Johnson and the hospital management team for growing its market share as the sole provider in its county, along with positive operating figures. S&P also said SRMC is positioned to benefit from North Carolina's Medicaid provider fee, which should contribute to the hospital's revenue stream.
"While SRMC was already improving underlying operations through physician recruitment and favorable business volume, the reimbursement projected over the next two years through the provider fee should allow for much greater cash accumulation and balance sheet growth," said Stephen Infranco, an S&P credit analyst.
If you have more information or updates for this profile or would like to recommend a leader to be profiled in the future, please contact Lindsey Dunn, editor in chief, Becker's Hospital Review at firstname.lastname@example.org.
More Articles on Hospital CFO Profiles:
© Copyright ASC COMMUNICATIONS 2017. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.