CFO Vince Schmitz: Stalwart of the West Coast Healthcare Sector
For roughly 35 years, Vince Schmitz has held various financial leadership positions at hospitals and health systems in California and Washington, and for the past 11 years, he has fortified Tacoma, Wash.-based MultiCare Health System's balance sheet as CFO.
Under Mr. Schmitz's financial tutelage, MultiCare has recorded seven straight years of "very strong operating results," according to Moody's Investors Service. During the past seven years, the four-hospital system has had an operating margin of 7.5 percent and an operating cash flow margin of 15.1 percent.
MultiCare has also shown an ample reserve of cash, as it had 239 days cash on hand at the end of fiscal year 2011, and Mr. Schmitz has overseen the health system as it increased its market share to 35 percent.
In 2007, the Puget Sound Business Journal named Mr. Schmitz CFO of the Year in the large non-profit category, and Mr. Schmitz also extends his community involvement as a board member of the Tacoma-Pierce County Economic Development Board and the University of Washington-Tacoma Milgard School of Business.
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