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William J. Craig

CFO

Howard Memorial Hospital

Nashville, AR

Mr. Craig oversees finance, patient financial services, patient access, health information management, IT, case management, materials management and linen services as CFO of Howard Memorial Hospital, a 20-bed, nonprofit critical access hospital, administering an $85 million annual budget. He developed the hospital’s budget process and reporting system, including training for department directors, and has enhanced financial reporting and closing processes to the point of no audit adjustments from independent auditors. Mr. Craig implemented point-of-service collections that improved the hospital’s revenue cycle and overhauled its emergency department acuity system, producing a $3 million revenue improvement. He also identified and helped launch new outpatient service lines, including wound care, outpatient behavioral health and a pediatric therapy center, and has written grant applications that brought in $300,000 for the hospital in 2020 and 2021. Under Mr. Craig’s financial leadership, the hospital met and exceeded state-set targets for days cash on hand and net operating margin through the governor’s sustainability plan, along with securing more than $3.4 million in American Rescue Plan Act funding over two years. He was named Arkansas Business‘ “Hospital CFO of the Year” in 2021 and its “Financial Executive of the Year” in 2025. Mr. Craig also serves as a board member of the Howard County Children’s Center and the Nashville Chamber of Commerce, having previously served as the chamber’s president. He holds board and treasurer roles with the Arkansas chapter of the Healthcare Financial Management Association.

Becker's Recognition

William J. Craighas been named a Becker's honoree on the lists below.

2026 Winner

Executives

41 Rural Hospital and Health System CFOs to Know

Historically, rural areas have suffered a lack of access to quality healthcare. Members of rural communities may have to travel long distances, pay exorbitant costs, or face other barriers. Rural hospitals work hard to ease the burden on underserved communities, and CFOs are a crucial part of the equation.

CFORural & Critical Access

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