Revenue Cycle Chief Financial
Resume:
Marlene McLennan, MBA
West Palm Beach, FL 33411
*******.********@*****.***
Senior Executive with 20+ years of hospital and healthcare experience leading all facets of financial, strategic, and business initiatives in the public and private healthcare sector. Skilled in healthcare operations, revenue cycle maximization, Capital Raising, treasury management, corporate compliance, and developing and building strong teams. Highly motivated, dedicated, and goal-oriented professional who is focused on achieving objectives. Skilled with defining and aligning strategies, mergers and acquisitions, joint ventures, and private equity goals.
Experienced in Start Ups & Turnarounds, and Growth Strategies. Skilled in Revenue Cycle, Contract Negotiation, Treasury & Cash Flow Management, Regulatory Compliance, and Grant & Funds Procurement. Highly effective Team Builder with a solid background in realigning and transforming organization through a variety of proven turnaround and growth strategies. Experienced in the public and private sectors in Accounting, Finance, Human Resources, Payroll, Supply Chain Management, Business Office Operations, Business Intelligence, Compliance, and Information Technology.
Core Leadership Competencies
Financial & Operations Management Revenue Cycle Management
Cash Flow / Profit & Loss Management Mergers & Acquisitions
Strategic Planning Business Restructuring & Reorganizations
Joint Ventures / Private Equity Partnerships Budget Planning & Preparation
Audit Management Capital Raises & Fund Procurement
Financial Administration & Reporting Efficiency Expert
Start Up, Growth, & Turnaround Expert Board & Partner Relationship Management
Professional Experience
Vestige Healthcare, Inc. – Southeast Region Oct 2020 – Current
CEO/CFO (Private Equity Backed)
Provide financial and operational leadership to 2 acute-care hospitals, 4 physician practices, 5 women’s health centers, and 1 critical access hospital. Provide guidance and change management for turnaround and growth strategies to ensure financial and operational health. Oversee the general accounting system, applying standard principles of accounting, cost determinations, and statistical analysis. Direct hands-on management of accounts payable, payroll, treasury, revenue cycle, information technology, and materials management.
In charge of all Start Ups, Merger & Acquisitions initiatives
Prepare financial and operating package to executive leadership, the Board, and partners.
Key Contributor for turnaround and growth maneuvers for healthcare projects.
Successful negotiations of top 5 commercial payor contracts to increase revenue by $9M
Successful Capital Raise of $30M
Executive Financial Liaison for physicians
Lead physician development turnkey onboarding
Developed and implemented the hospital revenue initiatives, including management, revision, and on-going monitoring of revenue cycle metrics and financial closing process.
Complete revenue cycle overhaul
oSuccessful contract negotiations
oImprove Days in AR by 26% from 54 days to 39 days
oImprove bottom-line cash
Provide leadership and vision to develop the financial long-range strategic plan in support of the overall strategic plan, supporting the hospital and CEO in the development and implementation of the goals and plans.
Implemented new service line - Telehealth Services, Detox Center, Pain Management Center
Collaborate with the Executive and Senior Leadership teams and partners to develop financial, strategic, and capital plans.
Responsible for the preparation of annual organization budget to include all operational department and capex budgets.
Develop new policies and procedures to improve efficiency in Accounting, Payroll, Purchasing and Information Technology.
Implemented new E H R and Server Platform for full integration
Prepare, analyze, and present monthly financial statements and modeling to the Chief Executive Officer and the Board.
Supervised 6 director level employees.
Marlene McLennan, MBA Page 2 of 4
Medytox Solutions Rennova West Palm Beach, FL Apr 2018 – Oct 2020
Corporate Chief Financial Officer to EVP – Finance & Operations (Private Equity-Public)
In charge of the financial and strategic guidance of operations multiple healthcare units-$400M+ in revenues. Hands of leadership for 3 hospitals (2 Acute Care and 1Critical Access Hospitals-CAH), 2 multi-affiliated specialty physician offices, 6 Home Health Cares, 1 Rural Health -FQHC clinic, multi-site behavioral health units, and oversight of 14 other entities-laboratory, healthcare, and other.
Provide financial and operational leadership and guidance to hospital CEOs and CFOs.
Coordinate with CEO, Private Equity Partners, Board of Directors on strategic, financial, and operational initiatives
In charge of all Start Ups, Merger & Acquisitions activities for healthcare entities.
Manage and direct short-term and long-range planning and budgets to ensure corporate goals and growth objectives.
Review all information for SEC filing 10Q/10K/8Q/8K and supporting schedules.
Formed & Lead Business Analytics Committee to provide KPIs operational clarity and financial benchmarking.
Developed New Reporting Structure for Leadership with Statistical and Graphical presentations
Timely Production & Interpretation of all Month End Closing and Financial Information.
Preparation of Budgets-Operational, Capital, and Minor Equipment.
Reviews and analyze P&L activities to maximize Cash Flow.
Maintain and develop relationships with banking institutions, audit firms, legal counsel, public and government entities.
Ensure corporate compliance with regulatory boards, Joint Commission, Medicare (CMS), and Medicaid (AHCA).
Establish directives and benchmarks to measure, assess and improve the performance of processes.
Direct oversight of Contract Management for hospital, facility, and physician contracts.
Realigned Leadership - Employee focused “grow from within” organization
Successful Renegotiation of Managed Care and VA Contracts net effect $3mil.
Successful Capital Raise of $10 mil
Implemented a new financial reporting platform for executives and board.
Revamp and Improved Data Analytics and Reporting
Implemented new services lines to improve annualized revenue from $10M to $50M within 1 year
Reduced operating expenses/cost by $2.1M
Improved closing period to reporting from 14 days to 10 days
Improved Revenue Cycle Days in AR by 36% from 61 days to 39 days.
Implemented program that transition self-pay to insured lives (13% improvement)
Successful System and Software Implementation for Bilateral Integration.
Improved Employee Days On-boarding by 50%.
Improved Employee Turnover by 35%.
Direct supervision of 6 executives and 2 administrative employees. Oversee 450+ employees.
MedBridge Healthcare - Greenville. SC Feb 2017 – May 2018
Chief Financial Officer (Private Equity-Joint Venture)
(Johns Hopkins & Vicente Capital)
In charge of strategic guidance, safe guarding, and improving assets for a national healthcare organization in the Sleep Laboratory Management and the Durable Medical Equipment arena with hospital partners and physician practices in 22 states and 140+ multi locations sites.
Managed Multiple Portfolio (Turnaround & Growth)
Implement productivity measures.
Complete revenue cycle overhaul.
Review managed care contracts.
Renegotiate sleep med contracts.
Complete installation of MedHost EMR, Billing, GL and Materials modules.
Multiple operational changes including scheduling improvements, increased cash collections and through put efficiencies.
Revamped entire accounting department producing clean audit and business intelligence report.
Reduced expenses by $1.8M in 6 months
Improved Average Daily Cash Collections by 27%
Improved Days in AR from 50+ days to 28 days
Supervised 5 director level employees
Marlene McLennan, MBA Page 3 of 4
Barnes Healthcare Services - Georgia/Florida Feb 2015 – Mar 2017
Chief Financial Officer (Reposition & Partial Sale)
Monitor and direct the implementation of strategic and financial business plans for $100M+ established healthcare organization with a national presence in the specialty pharmacy, retail pharmacy, and durable medical equipment arena.
Turnaround Healthcare Division (Pharmacy and Durable Medical Division).
Implement productivity measures through Key Performance Indexes.
Complete revenue cycle overhaul.
Review and Renegotiated managed care contracts.
Implementation of cost savings programs reducing annual expenses
Revamped entire accounting department producing clean audit and cost report. \
Executed daily charge review to reduced DNFB to 5 days,
Reduced days in AR from 87 to 46 days.
Develop financial and tax strategies and manage the capital request and budgeting processes.
Develop performance measures that support the company's strategic direction.
Implement financial and operational best practices to improve days in AR and days closing.
Oversee employee benefit plans, with particular emphasis on maximizing a cost-effective benefits package and consumerism.
Directly supervise 6 directors and oversee 300+.
Monroe County Hospital - Forsyth, Georgia Jan 2012 – Feb 2015
Chief Financial Officer
Financial and strategic leadership of Critical Access Hospital-CAH and 3 free standing Medical/Physician Offices.
Financial, Reporting, Month End Closing, Monthly Operational Review.
Grant Procurement and Management
Improved Hospital Revenue by $2M+ within 1 year
Improved Overall Revenue Cycle by: Cash Collections 31%, Days in AR, Days to Drop Claims, AR Closing Days
Reduce Operational Cost
Improve Gross and Net Margins
Maintain Positive Bottom Line
Achieve Meaningful Stage II Attestation (EHR)
Supervise 8 Directors and oversight for 37 employees.
Pacer Health Corporate - Knox County Hospital - Miami Lakes, Florida Jun 2008 – Mar 2011
Chief Financial Officer-CFO (Private Equity)
Financial Leadership Critical Care Facility with Long Term Care and Home Healthcare Units, and 6 Affiliated Physician Practices in Kentucky, Georgia, and South Cameron Memorial Hospital Behavioral Health and Physician Services in Louisiana, and Acute In- Patient Facility with Skilled Nursing Facility.
Direct leadership of all medical related Strategic planning, mergers and acquisitions, and long-term forecasting.
Oversee Patient Financial Services, Health Information Management, Administration, Information Technology, and the Business Office for staff and department development, implementation and updates of Insurance Payor Contracts, State and Government programs, compliance, policies and procedures.
Directorship of the financial and operations to include the planning, organizing, and directing the daily operations.
Responsible for the management and preparation of all financial data, management of the general ledger for integrity, preparing monthly financial reports for 6 facilities, preparation of interim and Cost Reports, Corporate.
Tax Preparation, and other managerial reports to executives and the board of director.
Increased revenues by 58% to a $142M facility.
Successfully executed a 26% reduction in workforce and implement new system conversions.
Streamline efficiency and operations in the finance, accounting, and business office areas increasing efficiency and productivity.
Renegotiated managed care contracts resulting in increase in gross and net revenue.
Supervise 5 employees directly and Oversaw 38.
Marlene McLennan, MBA Page 4 of 4
INTERIM CONSULTATIONS
Visiting Nurse Association of Florida (Home Health) - CFO Consultant – Audit, Revenue Cycle, &Systems Integration
Cascadia Behavioral Health (Behavioral Health) – CFO Consultant – Growth and Development
St. Mary’s Healthcare Center – Catholic Health Initiative CHI - Interim CFO / COO - Reorganization
American Health & Wellness Institute AHWI - Interim COO - Business Growth & Development
OBGYN Specialist - Interim Executive Director of Fin & Ops. (7 Offices / 23 Physicians) - Strategic Guidance
Broward Multi-Specialty Group - Interim CFO (25 Offices / 55+ Physicians) – Reorganization
Previous Work History
Gemstarr Financial Services (Banking & Finance) – COO/CFO 2005 – 2008
KRU Medical Ventures, LLC (Dialysis) - Director of Managed Care/Div. Controller 2001 – 2005
Medics Ambulance Service, Inc. - Controller 1999 – 2000
Columbia HCA- Cedars Medical Center/Aventura Hospital - Assistant Controller 1998 – 1999
Revenue: $2B+ Beds: 560 Beds
Florida Hospital - Accounting Manager (Robert Half Int'l) 1996 – 1998
Revenue: $2.5B+ Beds: 1000+
The Presbyterian Ministry – Accounting Office Manager (Robert Half Int'l) 1994 - 1996
Shands Hospital - Patient Account Supervisor - Financial Analyst 1989 – 1994
Revenue: $4B+ Beds: 900+
Skills
MEDICAL Related: Medical Terminology, Healthcare Compliance (Medicare, Joint Commission, HIPAA), Contract Negotiation, Billing (Electronic/Manual, Third Party Administration, Managed Care, Commercial, Medicare, Medicaid Billing (UB-92, UB-04, HCFA1500), Collections, Accounts Receivable, Insurance Guidelines & Regulations, ICD-10/CPT/HCPCS/DRG, Charge Master, Health Information Management/Medical Records.
Medical-Hospital related systems: MedHost, NexGen, Home Care Home Base-HCHB, Brightree, Athena Health, HMS-Health Management Systems, Greenway Prime Suite, CPR+, AllScripts, FMC Billing Athena, CPSI (Rycan/Evident) System, McKesson, Z Term, Medical Manager, Meditech, On Net TN- General Ledger, Financial, Patient Accounting, Accounts Payable, Info Pac/View Direct, Funds Management, QMIRS, HBOC, NPR/MPR, SMART, PYXIS, and CLEAR ACCESS Report Writer.
COMPUTER: MS Office - Word, Excel, PowerPoint, Sage/MAS 100, JD Edwards, Solomon, Hyperion, Lawson, Macola, Creative Solutions, AccPac, Peachtree Accounting, Timberline, QuickBooks, Tax Packages, MS Internet Explorer/Chrome.
BOARD POSITIONS
Andros Isle – Campbell Property Management Finance Committee 2024
Harper Home Health – New York Board Member 2020 - 2022
Big South Fork Medical Center - Oneida, TN Board Executive 2018 – 2020
Jamestown Regional Medical Center - Jamestown, TN Board Executive 2018 – 2020
Jellico Medical Center - Jellico, TN Board Member 2019 – 2020
EDUCATION
University of Miami - Coral Gables, FL Master of Business Administration (MBA) 1995 - 1997
University of Florida - Gainesville, FL Bachelor of Science (BS) - Finance 1992 - 1994
References available upon request
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