Chief Financial Officer

MICHAEL PANISAK

570-***-****~**************@*****.***

CHIEF FINANCIAL OFFICER

Dynamic and results-driven financial executive with a proven track record in providing strategic financial leadership to privately held and publicly traded organizations with revenue ranging from 1M to 1B dollars. A seasoned CFO with expertise in strategic planning, budgeting, and forecasting. Experienced in overseeing financial operations, system conversions, and data streamlining. Skilled in implementing budget adherence practices, reducing close days, and developing Key Performance Indicators (KPIs) for organizational optimization. Adept at mergers and acquisitions, capital planning, and developing financial models for informed decision-making. Demonstrated success in staff development and fostering organizational growth. ACCOMPLISHMENTS

$500M in contract wins $100k identified savings in contract svcs

$30M annual increase in revenue due to business development focus $50K reduction of exp due to refi

$1.6M savings due to evaluation of departmental programs 5% reduction of FTE’s due to staff audit KEY COMPETENCIES

Strategic Financial Leadership

Budgeting & Forecasting

Data Streamlining

Close Process Standardization

KPI Development

Mergers & Acquisitions

Financial Modeling

RFP Financial Response

Compliance & Audit Oversight

Financial Reporting & Analysis

Stakeholder Collaboration

Operational Efficiency Optimization

PROFESSIONAL EXPERIENCE

Bright Balance Oct 2022 – Dec 2023

CFO Advisor/Fractional CFO

Provided fractional CFO services to over twenty entities, offering expertise in strategic planning, budgeting, and forecasting. Organized financial data for efficient dissemination to lower-cost resources, enhancing operational efficiency.

Led system conversions and streamlined data processes to improve overall financial management.

Implemented standardization of the close process and close checklists, resulting in a reduction of close days and improved accuracy.

Developed Key Performance Indicators (KPIs) to measure and optimize organizational performance.

Conducted standard recurring meetings with owners and stakeholders to align with financial goals and objectives.

Focused on staff development, contributing to the growth and expertise of the financial team. CFG Health Network and Affiliate Companies Mar 2012 – Jun 2022 Chief Financial Officer, Marlton, New Jersey $135M in Revenue Served as a Senior Executive overseeing multiple computer system conversions, ensuring seamless transitions and maximizing operational efficiency. Led the fiscal operating results and financial statement preparation, presenting administration of accounting practices to the board of directors and Finance Committee. Managed Accounting, Payroll, and Business Office functions, ensuring efficient financial operations.

Achieved a remarkable 100% increase in EBITDA from the prior year and delivered a 7% revenue growth, demonstrating financial acumen and strategic planning.

Successfully completed year-end audits, restoring financial credibility and ensuring compliance. Spearheaded the RFP financial response and conducted strategic evaluations of current, potential, and external responses.

Acted as the point person for insurance needs, ensuring comprehensive coverage and risk management. Administered the 401k plan, overseeing its effective management and compliance.

Spearheaded efforts to increase sales by securing new contracts through the strategic submission of competitive bids.

Implemented budget adherence practices across multiple departments, linking department managers' bonuses or increases directly to their budget performance, fostering fiscal responsibility and accountability.

Introduced automated daily overtime reports, enhancing visibility and significantly reducing unnecessary overtime, thereby optimizing operational efficiency.

Consultant Apr 2011 – Feb 2012

Chief Financial Officer/Chief Operating Officer

Led all aspects of mergers and acquisitions and capital planning, playing a pivotal role in strategic organizational growth. Established policies and procedures reflecting superior customer service standards and allegiance, contributing to overall customer satisfaction. Developed a robust financial model/pro forma and capital planning strategy for a proposed hospital, providing a foundation for informed decision-making.

Implemented internal controls to ensure integrity of financial information, fostering accuracy in reporting.

Formulated the operating budget, establishing fiscal responsibility and performance indicators for all department directors, contributing to a financially disciplined organization.

Conducted daily rounds on all departments to monitor patient volume and ensure appropriate staffing levels, optimizing operational efficiency.

Led HMS IT system implementation, ensuring a seamless integration of technology for improved data management.

Developed a daily dashboard and weekly forecasts for management, providing real-time insights for decision-making. Community Health Systems (Fortune 500 Company) Jan 2008 – Apr 2011 Assistant Chief Financial Officer, WVHCS, Wilkes Barre, PA (Division of CHS) - A 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) - A 147 Bed Hospital, 25 Bed Outpatient Surgery Center) $800M in Revenue.

Led the central financial planning and analysis team supporting CEO, CFO, and SVP in the acquisition of new hospitals and entities, contributing to the company's strategic growth. Played a key role in the transformation of the system from a non-profit to a for-profit institution, ensuring financial sustainability.

Successfully shortened the month-end financial process from 14 to 5 days, improving efficiency in financial reporting.

Achieved a $300K reduction in insurance denials through strategic financial management.

Prepared financial projections, identified/corrected financial reporting discrepancies to comply with external regulations, and conducted monthly meetings with department managers to analyze operating budgets.

Prepared ROI assessments for departmental requests to evaluate the feasibility of capital expenditures.

Achieved zero findings in Internal SOX and Financial Operational Audit, demonstrating a commitment to compliance and financial integrity.

Blue Mountain Healthcare System Jan 2002 – Dec 2007 105 Bed Hospital, 24 Bed Psychiatric Hospital, 70 Bed Hospital, 50 Bed Assisted Living with $300M in Revenue Corporate Assistant Controller, Blue Mountain Healthcare System Oversaw the fiscal operating results, financial reports, and statements of the entire healthcare system, ensuring accuracy and compliance with industry standards. Chaired the cost containment initiatives, strategically managing financial resources.

Managed and facilitated all interactions with external auditors, ensuring a smooth and transparent audit process.

Secured a $200K grant through thorough research and effective proposal development, contributing to additional financial resources for key initiatives.

Led the implementation of the Siemens IT system, enhancing operational efficiency and data management across the healthcare system.

Controller, Palmerton Hospital, PA – A 70-bed hospital, and a 50-bed assisted living facility with a $53M revenue. Oversaw 70-bed hospital and a 50-bed assisted living facility with a combined revenue of $53 million. Streamlined financial processes by approving all Capital Requests and Purchase Orders before processing, ensuring optimal financial efficiency.

Conducted a comprehensive due diligence and feasibility study for the successful acquisition of bonds, resulting in strategic financial decision-making.

Spearheaded the development and presentation of the annual Operational and Capital Equipment Budget, demonstrating proficiency in financial planning and resource allocation.

Monitored and optimized key metrics, contributing to enhanced organizational performance and fiscal responsibility.

Successfully led the implementation of the Meditech IT system. EDUCATION

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

Contact this candidate