CFO Phil Peterson: Fiscal Aptitude at Mercy Medical Center in Iowa

Since May 1999, Phil Peterson has served as CFO of Mercy Medical Center in Cedar Rapids, Iowa, and the 314-bed hospital has grown into one of the most financially stable hospitals in the area.

Yesterday, Moody's Investors Service assigned an "A2" rating to $45 million of revenue bonds issued to MMC. Analysts said the solid rating assignment reflects the system's favorable demographics, and Moody's commended Mr. Peterson and other executives for their "track record of good operating results," according to the report.

Mr. Peterson has helped boost MMC's liquidity and profitability. At the end of fiscal year 2012, MMC had 257 days cash on hand and 11.3 percent adjusted operating cash flow margin. MMC is also at the forefront of accountable care organization initiatives, as the hospital and the University of Iowa Health Care in Iowa City announced they would develop an ACO together.

Before joining MMC, Mr. Peterson worked in a variety of roles at Parkview Hospital in Fort Wayne, Ind., including director of budgeting, corporate controller and vice president of corporate finance.

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

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