Accounting Service

Richard Harning

**************@*****.***

*** ******** **. ****: 269-***-****

Portage, Michigan 49024

CAREER SUMMARY

A senior financial executive with extensive experience in the healthcare profession. Knowledgeable in all aspects of financial reporting and interpretation with expert knowledge in banking, debt issuance and management and budgeting and forecasting. Special expertise in physician contracting and cost control initiative development. Excellent communication skills, both written and oral. Able to establish relationships and communicate effectively at all levels of management. A highly responsible and dedicated team player.

PROFESSIONAL EXPERIENCE

ALLEGAN GENERAL HOSPITAL, Allegan, MI 2007 - 2018

Full service 25 bed Critical Access Hospital. Services includes inpatient, emergency room, oncology, cardiology, pain clinic, wound healing center, rehabilitation services, homecare, radiology, endoscopy and psychiatry.

Vice President 0f Finance and Chief Financial Officer As a key member of the Senior Executive Leadership Team, led all aspects of reporting, interpreting and monitoring of financial data and related trends. Responsible for all accounting, budgeting and operational financial analysis to senior management. Routinely interacted with key local banks and the largest insurance providers on achieving the most favorable outcome for the hospital.

• Reported to the following Boards of Trustees: Allegan Healthcare Group, Allegan General Hospital, Allegan Professional Healthcare Services, Allegan General Hospital Foundation and the Emergency Medical Services organization. Full transparency has always been my guiding principle.

• Orchestrated a $17,500,000 bond issuance in 2010 partnering with a large regional bank to both refinance our old debt at a cheaper cost and included $8,000,000 for new infrastructure upgrades which included a new Electronic Medical Record system. This was instrumental in earning approximately $6,500,000 in federal incentive monies as a result.

• Partnered with the United States Department of Agriculture in procuring a 30-year, $20,600,000 loan at a fixed interest rate of 2.375%. This was a herculean effort that I am most proud of. We obtained $5,6000,000 for new capital and refinanced our old debt. The new debt structure saved us $260,000 per year in expense and cash.

• Was instrumental in preparing our sister corporation (family practice medical clinic - 35 providers) attached to the hospital on becoming a provider based rural health center within the hospital. This would generate approximately $1,300,000 annually in increased reimbursement on our Medicare Cost Report.

• Filed all the regulatory applications for making the hospital a 340(B)-eligible hospital to take advantage of lower drug costs. Partnered with four private commercial pharmacies to become a contract pharmacy network providing the hospital with brand new revenue streams.

• Forged great relationships with many auditing groups, insurance company executives and local area corporate business leaders. These strong relationships benefited the hospital in several key ways.

Sinai-Grace Hospital, Detroit, MI 1995 –

2006

Full-service 404 bed tertiary care hospital located in north west Detroit. Services included cardiology, emergency medicine, internal medicine, obstetrics, gynecology, urology, psychiatry, radiation oncology, orthopedics and physical rehabilitation medicine.

Vice President of Finance 2003 -

2006

One of my major goals was to improve the profitability of the hospital. Having expanded responsibilities, I was able to effectuate great change. This made a profound positive difference for the hospital’s bottom line.

• Orchestrated a reduction in fixed overhead costs by $800,000 by closing two major service lines, consolidated four clinic locations and re-engineered three service contracts and rental agreements.

• Reduced variable cost per adjusted discharge by $200 through the implementation of various cost saving initiatives, supply chain management target objectives and aggressively managing

“average length of stay”.

• Launched an aggressive reduction in force program. Over a twelve month period I was able to assist in removing 10% or 250 FTE’s that was worth $12,500,000 savings per year.

• Achieved $300,000 in annual savings by successfully renegotiating eight physician contracts and medical director agreements.

• Improved the uncontrollable write-off percentage by 2%, or $500,000, by increasing the “clean claims” percentage from 75% to 85% over a ten-month period.

• Created weekly supply usage and overtime reports that were implemented across the healthcare system in analyzing actual expense utilization compared to targets highlighting where management should place their emphasis.

• Educated nursing leadership by reducing overtime and agency costs by $500,000 annually and by re-calibrating the skill mix included in the patient care delivery model. Financial Administrator 2001 –

2003

Expanded responsibilities included overseeing the materials management and central sterile processing with a total of 38 full time equivalents.

• Championed a highly detailed biweekly labor productivity reporting system guiding senior leadership on trends in labor operational efficiency.

• Administered a strategic vendor selection process which was successful in reducing the contract pricing of expensive orthopedic implants and cardiac rhythm devices.

• Played a key role in the development of a $6,000,000 state of the art open heart surgery capital expansion program by compiling pro forma’s and return on investment analyses.

• Renegotiated fleet contracts and transferred a copy center to another facility which resulted in an improvement of $150,000 to the bottom line.

Director of Finance 1998 –

2001

Expanded responsibilities included compiling a $700,000,000 operating budget and a $20,000,000 capital budget for the hospital.

• Consolidated the financial services of two hospitals into one cohesive highly functional financial services department.

• Implemented a comprehensive budgeting model using the collaborative support of hospital management.

Manager of Accounting 1995 –

1998

Coordinated the activities of the accounting staff which included all accounting, quarterly and year-end audits, payroll tax liability analyses, fixed asset management and annual surveys. Standardized the general ledger account reconciliation process which reduced year-end audit adjustments by 50%. Children’s Hospital of Michigan 1989 –

1995

Children’s Hospital was the only free-standing hospital in Michigan dedicated to the treatment of pediatrics. A leader in neurology, neurosurgery, cardiology, oncology and diagnostic services. Accountant Analyst I, II and III

Responsible for various account reconciliations, tax filings and all general ledger analyses. Authored the template used by the subsidiary hospitals to report their annual Form 990 tax application. EDUCATION

M.B.A., Major: Accounting, Wayne State University, Detroit, MI B.A., Major: Accounting, Wayne State University, Detroit, MI MEMBERSHIPS/AFFILIATIONS

Past Member, American College of Healthcare Executives 2003 – 2008 Past Member, Associated Laundry Processing Facility Advisory Board 2002 – 2006 President, Phi Gamma Chi Fraternity Alumni Association, Wayne State University 1990 – 1993 President, Vice President, Phi Gamma Chi Fraternity, Wayne State University 1986 - 1988

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