Health systems shake up CFOs

Mount Sinai, Allina Health, Novant Health and Johns Hopkins Medicine are among the health systems that recently announced new CFOs as organizations continue to improve their operating performances after a tumultuous few years. 

While nonprofit hospital operating margins are improving overall, they are not rebounding quick enough for some, and remain below the pre-pandemic "magic number" of 3%. Many CFOs' top priority in fiscal 2024 and 2025 is to march up their organization's margins by strengthening revenue and controlling costs. 

In October, Vincent Tammaro will begin his role as executive vice president and CFO of New York City-based Mount Sinai Health System. Mr. Tammaro is leaving his role as CFO and vice president for health sciences at The Ohio State University Wexner Medical Center in Columbus to succeed Stephen Harvey at Mount Sinai. 

Doug Watson was named CFO of Minneapolis-based Allina Health after serving as the system's interim finance executive since January. Mr. Watson, who succeeded Ric Magnuson as CFO, previously served as CFO for San Diego-based Sharp HealthCare, West Des Moines, Iowa-based UnityPoint Health, CFO of the southwest division of Chicago-based CommonSpirit and COO and CFO of Vancouver, Wash.-based PeaceHealth. 

Winston-Salem, N.C.-based Novant Health appointed Alice Pope executive vice president and CFO for the health system. Ms. Pope most recently served as CFO for Falls Church, Va.-based Inova Health System and has previous CFO experience with Scottsdale, Ariz.-based HonorHealth and Kingsport, Tenn.-based Wellmont Health System. 

Baltimore-based Johns Hopkins Medicine named Cheryl Sadro senior vice president and CFO. Ms. Sadro joins the health system from Sacramento, Calif.-based UC Davis Health where she served as CFO. In her new role, she will oversee six hospitals as well as Johns Hopkins Community Physicians and be responsible for joint ventures and subsidiaries with Johns Hopkins University. 

So far this year, Becker's has reported on more than 90 CFO moves at hospitals and health systems, compared to 137 CFO moves in all of 2023. 

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