During Mr. Glass’ tenure, the Clinic has also developed web-based business intelligence tools to increase financial oversight. The same intelligence tools are used to provide patient information and other data to different parts o the hospital. According to Crain’s Cleveland Business, Mr. Glass helped the hospital develop a process to teach potential leaders within the system about finance and how clinical processes impact the Clinic’s balance sheet.
Commenting on Mr. Glass’ promotion to CFO in 2005, current Clinic CEO Delos M. Cosgrove, MD, said, “Steve Glass has shown that his financial management and healthcare experience and indispensible to The Cleveland Clinic. He will help ensure the continued financial strength of our world-class operations and patient care.”
Mr. Glass’ accomplishments at Cleveland Clinic have not gone unnoticed: In Oct. 2009, he was named CFO of the year by Crain’s Cleveland Business for his accomplishments during the Clinic’s recent period of growth. But that success doesn’t mean Cleveland Clinic will be immune to the effects of healthcare reform. In an August interview with Modern Healthcare, Mr. Glass said the hospital will have to increase its pressure on operating performance to deal with an expected drop in Medicare rates.
“We’re not anticipating we’re going to see much in the way of increase [from Medicare],” he said. He said the Cleveland Clinic regularly evaluates its costs and capital spending in order to maintain its margin in tough economic times.
Before joining Cleveland Clinic, Mr. Glass spent 14 years with MedStar Health in Columbia, Md. While at MedStar, he served as vice president, corporate controller and chief accounting officer.
Read more about notable hospital leaders:
–Hospital Leader to Know: Marna P. Borgstrom, CEO of Yale-New Haven Hospital
–Hospital Leader to Know: Richard Umbdenstock of the AHA
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