1 ADVANCE for Executive Insight

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CFO Perspective Productivity Improvements and Your Bottom Line Read how one hospital is catapulting itself into the future while maintaining a healthy financial picture. By Tim C. Lessing Tim C. Lessing is senior vice president and CFO of St. Tammany Parish Hospital, Covington, LA. As a 220-bed, not-for-profit community hospital with 1,600 associates providing the broadest range of inpatient and outpatient services in the region, St. Tammany Parish Hospital (STPH) maintains the balance between quality, cost and customer satisfaction, and remains one the most profitable hospitals in the region. Our success can be directly attributed to leadership strategies to improve productivity of physicians, staff and systems while improving the bottom line. Profitable Results The year 2011 was one of the most financially successful years in STPH history. STPH ended the year with a 10.8% Earnings Before Interest, Depreciation And Amortization (EBIDA), improved days in Accounts Receivable (AR) to 50 and Days Cash on Hand (DCOH) at 201 days. STPH also had a very successful refunding of bonds and indebtedness, resulting in a $6.3M net savings in interest expense. And supply expense decreased by a net of 3.5%, while overall ex- thinkstock/stockbyte/ Wendy Hope 24 ADVANCE for Executive Insight
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