Michael Panisak

**** ********* *****, *********** **, 18707 (570) 401 – 3492 ad2k4w@r.postjobfree.com

Senior Management Executive

Highly competent, results driven financial leader who offers over 23 years of experience in Management, Accounting and Financial expertise from small family owned business’s (20M) to publicly traded systems

(1B) in both Non Profit and For Profit settings.

Accomplishments

$500M in contract wins

Increased revenue by $30M annually in new business

Identified $1.6M dollar savings while evaluating effectiveness of departmental programs

Indirectly managed 1200 employees

Eliminated contract services equating to $100k in savings

Refinanced outstanding debt resulting in a $50K reduction of expenditures

Achievement of desired results from in-house staffing audits, directly reducing FTE’s by 5% Professional History

Bright Balance – 10/2022 – 12/2023

CFO Advisor/Fractional CFO

Fractional CFO serving twenty plus entities

Strategic planning

Budgeting and forecasting

Organization of financial data for dissemination to lower cost resources

System conversions

Data streamlining

Standardization of close process and close checklists

Reduction of close days

Development of KPIs

Standard recurring meetings with owners and stakeholders

Staff development

CFG Health Network and Affiliate Companies - 3/2012 - 6/2022 Chief Financial Officer, Marlton New Jersey

$135M in Revenue

Responsible for the fiscal operating results, financial statement preparation and administration of accounting practices to the board of directors and Finance Committee

100% increase In EBITDA from prior year and delivered revenue growth of 7%

Managerial responsibility for Accounting, Payroll, Business Office

Advise CEO on business strategies, financial models, strategic revenue stream development and tactical partnership identification

Proactively identify budget variances and recommend effective solutions to improve performance

Assisted in multiple system conversions (finance, payroll, business office)

Successfully complete year end audits to restore financial credibility

Interacting with all levels of staff to ensure management of expenditures and cost effectiveness

Responsible for RFP financial response as well as strategical evaluation of current, potential and external responses

Point person for insurance needs

Administrator of 401k plan

Development of daily dashboard and weekly forecasts for management team

Creation of dash board reports and KPI’s for Senior Management

Senior Executive of multiple computer system conversions Consultant - 4/2011 - 2/2012

Chief Financial Officer

Developed viable financial model/pro forma and capital planning needs for proposed hospital

Implementation of internal controls to assure integrity of financial information

Establish a month end close process within five business days

Responsible for formulation of operating budget, establishing fiscal responsibility and performance indicators for all department directors

Daily rounding on all departments to monitor patient volume and insure appropriate staffing levels

Responsible for all aspects of mergers and acquisitions and capital planning

Establish policies and procedures that reflect superior customer service standards and allegiance

Led HMS IT system implementation

Development of daily dashboard and weekly forecasts for management team Community Health Systems (Fortune 500 Company) - 1/2008 - 4/2011 Assistant Chief Financial Officer, WVHCS, Wilkes Barre, PA (Division of CHS)

(392 Bed Hospital, 106 Bed Psychiatric Hospital, 50 Bed Skilled Nursing Facility, 80 Unit Retirement Home, Residency Program)

$1B in Revenue

Assistant Chief Financial Officer, Phoenixville Hospital, Phoenixville, PA

(Division of CHS)

(147 Bed Hospital, 25 Bed Outpatient Surgery Center)

$800M in Revenue

Led central financial planning and analysis team supporting CEO, CFO and SVP in acquisition of new hospital and entities

Assisted with transformation of system from a non profit to a for profit institution

Shortened month end financial process from 14 to 5 days

$300K reduction of insurance denials

Achievement of operational efficiencies in clinical, ancillary and physician practices

Direct supervision of Accounting, Payroll, Materials Management, Business Office, IT and HIM

Assisted in strategic long term planning to meet current and future goals

Prepared financial projections

Identified/corrected financial reporting discrepancies to comply with external regulations

Analyzed departmental operating budget’s and conducted monthly meetings with managers

Prepared ROI’s for departmental requests assess feasibility of capital expenditures

Conducted review of revenues and expenses to ensure operational efficiency

Achieved zero findings in Internal SOX and Financial Operational Audit Blue Mountain Healthcare System - 1/2002 - 12/2007 Corporate Assistant Controller, Blue Mountain Healthcare System

(105 Bed Hospital, 24 Bed Psychiatric Hospital, 70 Bed Hospital, 50 Bed Assisted Living)

$300M in Revenue

Supervised the fiscal operating results, financial reports and statements of the system

Chairperson of cost containment to ensured proper utilization of financial resources to maintain profitability and enhance revenues without compromising quality of services

Directed, coordinated and motivated staff to ensure established objectives and standards

Directed and supported all activity associated with external auditors

Researched and obtained a $200K grant

Led Siemens IT system implementation

Controller, Palmerton Hospital, PA (Division of Blue Mountain Healthcare System)

(70 Bed Hospital, 50 Bed Assisted Living)

$53M in Revenue

Approved all Capital Requests & Purchase Orders prior to processing

Performed due diligence and feasibility study in reference to purchasing bonds

Prepared annual Operational and Capital Equipment Budget

Monitored progress of key metrics

Led Meditech IT system implementation

Gans Multimedia - 2/1999 - 1/2002

Assistant Controller, Hazleton Pa

Supervised accounts payable and accounting department

Researched contracts to verify terms and conditions

Coordinated the preparation of journal entries necessary to close the general ledger each month

Prepared financial statements and reconciled bank accounts for multiple companies Computer Skills

Great Plains, Kronos, ADP, Ultipro, Siemens, Meditech, Dairyland, HMS, Lawson, Keane, Solomon and QuickBooks software systems

Education

Bachelor of Science, Accounting/Business Administration, Bloomsburg University, Bloomsburg PA, 1999

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