CFO Vera Schumann: Beating Low Volumes With Good Margins at The Memorial Hospital
CFO Vera Schumann hasn't held her post at The Memorial Hospital in North Conway, N.H., for long. She made the move in November last year, having served in healthcare financial roles for over a decade in Minnesota, including a previous CFO role at Rainy Lake Medical Center in International Falls, Minn.
The small critical access hospital admitted 2,000 patients in fiscal year 2012, with an operating income of $1.4 million and a 2 percent margin. It has a firm grip on its finances with a 138 percent cash-to-debt ratio and 127 days cash on hand, more than 40 percentage points and 24 days better than similar-sized hospitals with the same "Baa3" rating from Moody's Investors Service. The hospital also recently inked a letter of intent to join MaineHealth, based in Portland.
Ms. Schumann earned both her bachelor's degree in business administration and her master's in organizational leadership from the College of St. Catherine, now called St. Catherine University, located in Minnesota's Twin Cities.
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.