CFO Mary Ann Freas: Integrating Financial Aid and Hospital Investments

Finding ways to balance a hospital's budgetary strategy with financial aid policies for the indigent is not always easy, yet Mary Ann Freas, CFO of Southwest General Health Center in Middleburg Heights, Ohio, has made it a core part of her position.

Mary Ann Freas is CFO of Southwest General.Ms. Freas has been at Southwest General since 2008, and she played an integral part in establishing financial assistance to the hospital's uninsured and underinsured patients. Because of Ms. Freas' efforts — in addition to leading the hospital's revenue cycle, billing and collections and capital and operating expenditures — she received the 2011 CFO of the Year award in the non-profit healthcare category from Crain's Cleveland Business.

Southwest General President and CEO Thomas Selden nominated Ms. Freas for the award, citing other examples of her financial leadership. She has helped the hospital refinance bonds and loans to lower interest rates; she advised hospital leadership on plans for a new geriatric psychiatry unit and a new emergency department; and she has managed the purchases of major health IT and medical equipment plans.

Ms. Freas has more than 25 years of hospital financial experience. She is a member of the Ohio Society of Certified Public Accountants and also is the recipient of the Follmer Bronze Award from the Healthcare Financial Management Association, which recognizes leaders in local HFMA chapters.

More Articles on Hospital CFO Profiles:

CFO Pamela Hess: CFO Leadership Excellence in Middle Tennessee

CFO Henry Lipman: Grassroots Financial Leadership at LRGHealthcare

CFO Richard Davis: Educating the Public on the Vital Role of Hospitals

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