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Finance Director

Washington Township, New Jersey, 07853, United States
February 02, 2018

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CHRISTOPHER FALLON, CPA ** Markham Drive, Long Valley, NJ 07853 Cell: 908-***-**** INNOVATIVE FINANCIAL EXECUTIVE

Creative, results-oriented financial manager. Able to turn business challenges into opportunities and accomplish corporate objectives. Decisive, pragmatic decision maker and organized problem solver able to thrive on challenges and excel under pressure. Respected for recruiting, developing and leading highly motivated, productive teams and for working with Operational Teams for results.


INTERIM MANAGEMENT ENGAGEMENTS and CONSULTING SERVICES 2012 - Present WOMEN AND INFANTS HOSPITAL / CARE NEW ENGLAND / Providence, Rhode Island Flagship academic and research hospital in Care New England with extensive GME programs. WIH is the lead provider within Care New England Health System. Affiliated with Brown University for multiple programs. Care New England is a health system with a wide array of hospital based and ambulatory clinical services and affiliated with Integra Community Care Network, LLC, and an Accountable Care Organization. Interim Vice President of Finance

Works closely with CNE Finance, CNE Medical Group and other Corporate functions in a matrix relationship to meet all goals related to the Balanced Scorecard measuring quality, operations and finance (cost management and revenue optimization). Reviews, analyzes and communicates financial reports to Hospital executives, Middle Management Team, Labor Management Committee and Clinical Chiefs.

Develops forecasts, operating and capital budgets and related Action Plans for accountability.

Responsible for the oversight of labor and productivity management, including engagement in process improvement initiatives. Provides end-user education regarding productivity management tools and benchmarking programs.

Led clinical teams to develop specific clinical growth opportunities and related Business Plans.

Member of the Ob/Gyn Voluntary Staff Finance Committee overseeing the accounting and distributions from the Voluntary Staff Fund.

Participates in all collective bargaining issues and a member of the Labor Management Committee.

Works with Managed Care Team on Denials Analysis, contracting opportunities, registration opportunities and payment structures.

Responsible as WIH’s Institutional Officer to review and approve research submissions to regulatory and non- regulatory sponsors

Treasurer of WIH Foundation

SAINT MICHAEL MEDICAL CENTER / PRIME HEALTHCARE SERVICES / Newark, New Jersey Major teaching hospital that recently emerged from bankruptcy after acquisition by for profit owner and operator of 45 acute care hospitals in 14 states. Prime Healthcare Services recognized as a national Top 15 Health System in 2013 and 2012.

Interim CFO

Discharged financial policies and procedures. Responsible for planning, organizing and influencing department activities and assuring financial records of the Hospital are maintained following generally accepted accounting standards.

Finalized various aspects of post bankruptcy activities including purchase accounting, resolution of issues with vendors and financial auditors. Coordinated with corporate team for post-acquisition financial review and preparedness for year-end annual financial audit

Responsible for financial reporting, monthly performance analysis against targeted financial metrics, planning, organizing, financial reporting and influencing department activities and assuring financial records follow good business practices and generally accepted accounting principles

Led compliance analysis of provider payments under contracts. Analysis included adequacy of documentation and time records, incentive compensation computations, adherence to contract specifics for medical directorships, teaching responsibilities, professional services, on call arrangements, grant funded positions and leased space. Prepared and communicated detailed analysis of employed physician practice profitability in a variety of clinical settings

Prepared various analyses and action plans regarding unaddressed areas including cash flow forecast, improving coordination with the Centralized Billing Office, proper accounts receivable valuation, compliance adherence and consolidation of financial teams from multiple hospitals KOHLER HEALTHCARE CONSULTING, INC., Baltimore, Maryland Diverse consulting firm with healthcare clients across the United States. Services include litigation support and related expert testimony, interim management, revenue cycle, ICD-10 preparedness, operational analysis, physician services, baseline audit, compliance plan development, assessment and training. Associate Director Analysis and Litigation Support

Litigation support, analysis, research and expert testimony preparation in a variety of cases including manage care contracting; breach of contract involving professional reading fees and assessment of practice damages; disputes between providers and outsourced billing companies; litigation in support of a provider regarding reasonableness of charges; and breach of a Management Services Agreement.

Analysis of payer rate adjustment notice to physician imaging providers and report regarding unreasonableness of payer actions.

Review of Probe Audit of a mental health provider; litigation support in review of documentation and codes billed by an ENT physician under investigation and strategy for corrective action plan. KAISER PERMANENTE – MID ATLANTIC STATES ($ 2.8B, 500,000 member health plan and provider) Total health organization providing and coordinating healthcare through 29 health centers in Maryland, Virginia and Washington DC. Comprised of Kaiser Foundation Health Plan and the Mid-Atlantic Permanente Medical Group, a 1,200 physician, independent medical group. Supported the Chief Operating Officer as the dedicated interim performance management leader toward the Affordability Initiative for Health Plan Care Delivery. Interim Support for Health Plan Delivery System Performance Management

Responsible for identifying improvement opportunities, driving financial performance and reviewing performance against plan.

Monitor progress toward financial and operational targets and projection of full year financial results based on mid-year performance. This forecast will be used as a basis for the next year’s budget build.

Oversee development of short and long range business and performance improvement plans toward the Affordability Initiative. Partners with Regional Finance to drive Affordability and excellence across Delivery System Operations and key Finance functions. Partners with other KP regions and KP national to access and implement best practices in finance and delivery system operations and processes. BOSTON CHILDREN’s HOSPITAL, Boston, MA ($2.0B, 395-bed comprehensive academic, multi facility pediatric nonprofit health system). Directed the financial functions across the hospital, maintained oversight of all financial management and financial control models. Reported directly to the Senior Vice President and Chief Financial Officer. Interim Vice President of Finance Operations.

Managed Financial Operations, Financial IT, Tax, Research Accounting and Investments, Donations and Endowment Accounting.

Directed financial strategy and policies and procedures, process improvements, goal setting and regulatory requirements.

Recommended direction of hospital’s internal audit function. Served as a member of the Finance Department’s leadership team; led high risk, visible and strategic financial projects for the hospital; worked closely with the Physician Organization and hospital’s senior leadership on financial initiatives and processes. SAINT FRANCIS HOSPITAL AND HEALTH SYSTEMS, SAINT FRANCIS HOSPITAL, Poughkeepsie, NY

$250M nonprofit health system

Interim CFO

Organized turnaround, “Close the Gap” restructuring plan including expense management and rapid revenue build for financially troubled organization with debt compliance violations. Worked with bond counsel, bond trustee, financial advisor and bondholders regarding financial turnaround.

Reorganized Revenue Cycle processes and personnel (Patient Accounting, Patient Access, HIM). Led operations team on cash acceleration, and revenue generation initiatives

Developed Managed Care Contracting strategy, relationship management and negotiation team; planned strategy for physician integration with a large medical group. CATHOLIC HEALTH INITIATIVES Saint Clare’s Health System, Denville, NJ

$11B national nonprofit health organization operating 81 hospitals in 19 states Interim Consultant

Worked with management team to organize infrastructure and analysis processes for Physician Enterprise development.

Responsibilities included monthly Physician Enterprise financial analysis and reporting.

Decreased outsourced AR by 32%. Worked with 4 different outsourced receivable management vendors. Established metrics, monthly dashboard and process improvement approach to receivable management.

Developed Action Plan coordinated with the Operations Team to advance productivity measures, improve internal accounting controls, reduce charge lag and credit balances. BON SECOURS ($3.3B nonprofit health system which owns, manages or joint ventures healthcare facilities) Charity Health System, Suffern, NY

Interim Consultant

Established and coordinated an Expense Management Initiative and related structure for a major health system to enable large scale, long term cost reductions. Led weekly meetings that included Physicians, Operations, Finance, Corporate, Human Resources, Accounting, Budget, Post-Acute Services, Decision Support and Revenue Cycle.

Led monthly variance reporting and related corrective action plans, labor and productivity reviews of departments (direct care and support services), benchmarks, span of control, programmatic review, supplies and vendor review, purchased services, space planning analysis for opportunities for leased space reductions, process improvement opportunities and outsourced services reviews.

Worked with various Operations Team members on quantifying opportunities in restructured operations. SAINT JOSEPH MEDICAL CENTER, Towson, MD ($350 M revenues / 300 beds / 4 entities) 2009 – 2012


Corporate Controller

Managed the strategy and operations of the financial accounting, budget and analysis and forecast teams. Managed internal and external financial reporting for the entire consolidated entity including physician practices with 100 physicians in 19 different locations. Partnered closely with senior leadership and Operations to improve business processes and financial performance. Provided financial analysis for varied departments, physician practice management, joint ventures and for-profit subsidiaries. Made presentations frequently to all levels of the organization.

Developed a Physician Enterprise Revenue Cycle Action Plan with Who / What / When specifics to ensure timely completion of assigned tasks and overall accountability. The Action Plan originally focused on the Revenue Cycle and identified credit balances, unapplied cash, denials, front end data integrity problems and training deficiencies. The Action Plan was expanded to consider RAC Preparedness, training requirements, onboarding of new physicians, due diligence processes for new physician practices, the outsourced AR vendor, dashboard development, customer service, managed care, budget and cash flow forecasting. Collections increased by 14% through denial reduction, employee training, front end data integrity controls and coding audits.

Reviewed physician practice performance reports, providing visibility into practice operations, physician productivity, staffing levels and financial performance.

Member of Physician Enterprise Practice Management Committee responsible for reviewing physician contract status, potential acquisitions and planning the transition of acquired practices effectively to Operations.

Eliminated six-month backlog in contract renewals and compensation adjustments by developing more timely and accurate contract review and reconciliation process.

Initiated disciplined process for monthly financial review and oversight of 3 clinical joint ventures (JV) and setting JV budget targets resulting in better coordination of strategic plans and initiatives.

Accelerated financial statement preparation by 57% (7 days to 3 days) to allow more time for meaningful financial analysis. Developed monthly capital report to ensure budget controls and communications, thereby increasing confidence in financial reporting. Coordinated all external audits. Initiated rapid, high quality financial reporting and financial analysis prepared as flash reports, dashboards, management discussion and analysis report (D&A) and presentations to various audiences to ensure clearer picture of financial performance.

Developed process for detailed monthly variance analysis between actual and budget to provide a basis for evaluation of business performance, enhanced accountability and improved financial projection capabilities.

Mentored Accounting Team to ensure all balance sheet accounts were analyzed and documented monthly, discrepancies resolved and accounts adjusted timely. Finance Department recognized by Catholic Health Audit Network (CHAN) as best practice for internal accounting controls.

Chaired Business Practices and Tax Considerations Compliance Subcommittee. Ensured business operations and tax considerations well vetted and risk areas monitored. Revised and communicated the general contracting process.

BERGEN REGIONAL MEDICAL CENTER (privately managed), Paramus, NJ 2007 – 2009 Large 1,100 bed safetynet teaching hospital with acute, outpatient, behavioral health and long term care services Vice President, Revenue Cycle

Responsible to the private management company for results in the customary Revenue Cycle departments and functions. Maintained financial controls and worked with Operations to enhance clinical documentation and business processes to improve monthly financial performance against budget. Developed trended key metrics for superior Revenue Cycle performance.

Re-built Revenue Cycle Team to achieve cost reductions and accelerate communication. Developed Managed Care contracting preparedness analysis to determine performance, training and competency requirements. Recruited and mentored 3 directors for key roles in Revenue Cycle

Responsible for professional billing of 35 employed physicians and related training for residents in GME program. Worked with Internal Audit and Corporate Compliance to ensure physician training, billing controls and compliance observation. Negotiated 3 managed care contracts. Collections for physician billing increased 26%. Chaired Revenue Cycle and RAC Committees.

Implemented 10 major software applications in 9 months (4 months ahead of timetable) with related training and post implementation evaluation of application effectiveness.

Reduced Medical Center’s unbilled accounts by $1.2 MM and enhanced cash flow by $2.2 MM (8%) due to process improvements and concentrated account follow up. NEW YORK PRESBYTERIAN HOSPITAL, New York City, NY 2006 – 2007

(Nation's largest not-for-profit, multi-site, teaching and tertiary care health system with 2,400 beds) Expense Controller, Presbyterian Division

Responsible for monthly close processes, maintaining financial controls and working with Operations, performed monthly analysis of financial results against budget. Assured the accurate and timely dissemination of financial management reports.

Managed the Presbyterian Division’s general ledger reporting including the month-end closing process.

Worked with department heads to create monthly financial reports and variance analysis with projections.

Prepared pension plan annual audit and related tax filing. FGA, INC., Piscataway, NJ 2004 – 2006

Privately held outsourcing, consulting, and software company specializing in cash inflow for home health care clients. Director, Financial Services

Reported to the Chief Executive Officer with full responsibility for the P&L and client relationship management for the Outsourcing Division. Served as a member of the senior management team. Directed all outsourcing services for diverse client group.

Developed Service Level Agreement to define annual performance targets and customer service standards.

Implemented operational plans for outsourcing services and expanded the portfolio of outsourcing service CHILTON MEMORIAL HOSPITAL, Pompton Plains, NJ 2001 – 2004 Diversified health system with non-profit and for profit companies within the corporate structure. Vice President and Chief Financial Officer

Reported to the Chief Executive Officer. Directed all financial functions for the health system and related companies including real estate and support companies. Responsibilities included financial reporting, information systems, health information management, managed care contracting, budget, reimbursement and revenue management, decision support and business analysis and outsourced billing and collections.

Formed Revenue Management Team with personnel trained in critical thinking skills to allow detailed revenue analysis and to enable organizational accountability. Revenues increased 32% over 3 years.

Initiated a Data Integrity study to increase timeliness and accuracy of financial and statistical data at point of initial input thus increasing the reliability of management data and significantly reducing rework.

Assigned lead responsibility to prepare and coordinate an Ambulatory Surgery Joint Venture Private Placement Memorandum filing and related financing. PPM included 5-year financial forecast.

Responsible for entire budget processes including “Tops Down” planning document that set targets, stated goals and responsibilities for performance and compliance.

Selected and implemented a Decision Support System to enable rapid and informed decision-making. COMPLETE CARE SERVICES, Horsham, PA 1999 – 2000

Privately held outsourced contract management services with a portfolio of outsourced clients totaling $1B in revenues. Services included legal, financial reporting, debt compliance and billing. Vice President and Chief Financial Officer

Member of senior management team for company serving clients in over 200 facilities and operating units located in 9 states. Directed financial reporting, treasury management, debt compliance, divestiture and acquisition analysis, due diligence, lender and banking relationships.

ATLANTIC HEALTH SYSTEM, Florham Park, NJ 1987 - 1999 Healthcare system with 1,250 beds serving northern NJ formed after the consolidation of three hospitals. MORRISTOWN MEMORIAL HOSPITAL, Morristown, NJ 1987 - 1995 Healthcare system later consolidated into Atlantic Health System. Vice President and Chief Financial Officer

Reported to the President and Chief Executive Officer. Atlantic Health System encompasses more than 20 different for-profit and not-for-profit organizations spanning a full range of healthcare services and related support activities. Supervised Finance, Budget, Investment and Audit Committees. Directed all financial functions, including managed care contracting, financial reporting and accounting, budget, reimbursement, revenue cycle functions. Also served on numerous Board and Medical Staff Committees.

Devised and communicated a capital expenditure policy that provided rational and consistent guidelines for capital decisions to enhance profitability, cash and access to capital.

Established a Table of Authorization to document and communicate transaction authority level

Implemented rapid distribution of revenue and statistical reporting to Operations Management for revenue analysis, accountability and projection capability.

Developed and communicated a three-year financial forecast and related Action Plan to facilitate a Margin Improvement Plan for projected operating results and cash flows. Able to communicate a sense of urgency and gain commitment to the Margin Improvement Plan targets.

Sold debt in the public market with a five-year financial projection. Organized a selection process to choose an Investment Banker. Financing included plant expansion and refinancing of outstanding debt through a Unified Master Trust Indenture. Bond issue included approximately $66 MM in variable rate debt. PUBLIC ACCOUNTING 1978 – 1987

Management positions with Coopers & Lybrand (1984 – 1987) and Pannell Kerr Forster (1978 – 1984). EDUCATION / CERTIFICATION / PROFESSIONAL

BS, Accounting, LaSalle University, Philadelphia, PA American and Pennsylvania Institutes of Certified Public Accountants Systems experience: Meditech, Lawson, McKesson HPF and HBF

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