Raymond A. Snead, Jr., D. Sc., FHFMA, FACHE

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1 Doctor of Healthcare Administration and currently practicing CFO whose thirty-five-year career includes serving as the President, Executive Vice President and Chief Financial Officer of for profit and not-for-profit, hospitals, physician organizations, emerging-growth, and regional companies in the healthcare industry. Financial Leadership Strategic Financial Planning Business Development Budgeting Financial Modeling and Forecasting Third Party Reimbursement Revenue Cycle Management For Profit & Not-for- Profit experience Capital finance CFO Mentoring Quantitative Methods Negotiation Networking Governance Healthcare Business Research Selected Major Accomplishments Doctor of Science in Healthcare Administration from the Health Services Administration program at The University of Alabama at Birmingham. The dissertation topic of, The contribution of interim executives to the healthcare industry, is the first research of its type in the US healthcare industry. Currently serving (thirteen months as of September 2014) as the Interim CFO of South Georgia Medical Center in Valdosta, GA a four facility, 409 bed healthcare delivery system serving south Georgia and north Florida. Managing a CFO transition and a complete restructuring of the finance function of the organization. Service since July of Currently serving as an Adjunct Professor in the Health Sciences Administration program at The University of Alabama at Birmingham teaching an advanced healthcare finance in the Residential Masters of Health Administration program. 10 months as Interim CFO of The Central Florida Health Alliance a 600+ bed three facility system based in Leesburg, FL. Supported a transition that had resulted in a complete restructuring of the organization with nine senior executives leaving. The transition also resulted in the reorganization of the system finance department. Extensive financial analysis and negotiation related to the completion of a $65 million bond issue, a $170 million new hospital development program and ratings reviews with Moody s Investor s Services and S&P. 7 months as interim CFO of St. Vincent Health System in Erie, PA ending in mid Completed bond rating review, five year financial plan, recruitment and transition of new CFO. Reconfigured a $59 million construction project to avert a certain bond default saving the hospital $7 million in capitalized interest in the process. Facilitated and supported CEO transition. 18 months of experience with Ascension Health in Milwaukee, Wisconsin & Jacksonville, FL working on financial planning, financial turn-around, finance department restructuring, decision support enhancement and other strategic focuses. Seven months with The Grace Clinic an 18 physician multi-specialty medical group in Lubbock, TX. Completed a five year financial plan, worked on strategic realignment of the organization and the ultimate merger with an acute care hospital. 1

2 Helped Southern Regional Medical Center and Northside Hospital identify and capitalize on annual savings in the millions by in-sourcing and automating processes associated with interim labor management as President, Principal, Founder & Majority Owner of Medical and Business Advisory, Inc. Recruited to lead a healthcare capital finance effort due to extensive network in Georgia and throughout the southeastern part of the United States as President, Chief Operating Officer and Principal of SPF Healthcare Capital, LLC. Over 20% revenue growth rate in areas of responsibility; Denovo starts for document imaging, mobile services, patient satisfaction surveying, managed care and third-party claims administration and subsequent sales of companies as appropriate. One of the organizing members of The Medical Resource Network. Georgia s only HMO with state-wide operating authority as Executive Vice President & Chief Financial Officer of VHA Georgia, Inc. and its related companies. Career Summary Hospital-based finance South Georgia Medical Center, Valdosta, GA. Interim Chief Financial Officer. Restructured and recruited new leadership in every aspect of the finance division including Accounting, Materials Management, Decision Support and Revenue Cycle. Orchestrated a $10 million turn-around in operating performance for the organization in one year. Planning another $10 million of improvement in the second year of engagement. Ascension Health, St. Louis, MO. Assessment of the system financial planning function. Cooper Green Mercy Hospital, Birmingham, AL. A short project conducted at the request of the Chief Restructuring Officer to determine funds available and proposed methodology of distribution of county indigent care funds to local providers for inpatient care delivered to indigent Jefferson County residents. The Central Florida Health Alliance, Leesburg, FL. Nine month seated interim CFO engagement. Completed a $65 million refunding of variable rate debt, ratings reviews for Moody s and S&P, implemented KaufmanHall financial planning and budgeting tools. Completed extensive financial analysis that resulted in the abandonment of a $160 million project to develop a new hospital. Transitioned leadership of the finance function, revenue cycle function and accounting function. Performed an assessment of the organization, developed the specification for the new CFO and supported the recruitment and on-boarding processes Saint Vincent Healthcare System, Erie, PA. Seven month seated interim CFO engagement. Strategic and operational financial planning, daily finance operations, extensive involvement with CEO and CFO transitions. Reconfigured a $59 million construction project that was $22 million underfunded saving the hospital over $6 million in potential capitalized interest in the process. Completed a Moody s bond rating review process. Developed strategy and action plans to respond to significant unfavorable market dynamics. Supported the acquisition of a large cardiology practice. Recommended then supported the employment of a new CFO saving the hospital retained search expenses in excess of $200,000. 2

3 St. Vincent s Healthcare System, Jacksonville, FL. St. Vincent s, is also a member of the Ascension Health System. Part of a multi-cfo team sent to Jacksonville by Ascension to effect a turn-around in a multifacility system that had experienced a large operating loss due to issues related to acquisitions and an accounts receivable adjustment. Reduced the loss by 75% in one year. Project scope covered a complete restructuring of the organization s finance function, preparation of new financial plans for FY 10 and FY 11 in addition to a five year plan going out to FY 16. Re-implemented cost accounting in a large acquired facility. Rewrote 16 job descriptions, reorganized and recruited ten new finance positions. Recommended and implemented a new decision making process into the entire organization. Columba St. Mary s Health System, Milwaukee, WI. Columbia is a member of the Ascension Health System. A 4 ½ month engagement to lead the financial planning department and develop the one and five year financial plans for the system of three hospitals, an owned physician group of 225 practitioners. The system has a $650 million construction project underway to combine two hospitals into a new facility. In addition to the financial plan, considerable work was done enhancing the system s third party reimbursement modeling capability and several new businesses including a joint venture that involved extensive work with Catholic Ethical and Religious Directives. Memorial Mission Medical Center, Inc., Vice President, Hospital Finance (CFO). Serving as the CFO of a 509 bed tertiary regional referral center. Implemented HBOC clinical and McCormack and Dodge financial systems. Secured new financings, refunded existing financings, started a number of new programs and services including an air medical ambulance service. Secured Medicare recapture reimbursement on buildings removed from service. Lenoir Memorial Hospital, Vice President, Fiscal Affairs. Serving as the CFO of a 322 bed community hospital. Completed major expansion project and related financings. Implemented financial planning function. Hospital Affiliates International and Hospital Corporation of America, Assistant Controller Non-hospital provider-based finance The Grace Clinic, Lubbock, TX. A seven month assignment that focused on restructuring of debt and debt covenants, revenue cycle analysis, negotiation with large hospital system and local hospital for potential sale of the Clinic and the development of a number of financial models to support these efforts. Non-provider healthcare finance Medical and Business Advisory, Inc. President, Principal, Founder & Majority Owner. A consulting company that has been involved in leasing, Medicare cost report consulting, software development and hospital temporary agency staff in-sourcing. SPF Healthcare Capital, LLC. President, Chief Operating Officer and Principal of SPF Healthcare Capital, LLC, a development company organized in 2005 focused on the facilitation of capital market access 3

4 primarily for rural hospitals. Recruited to lead the development of the company due to extensive network in Georgia and throughout the southeastern part of the United States.. Healthcare Receivable Professionals, Inc. President and Principal of Healthcare Receivable Professionals, affiliated with the Law Firm of Clinton A. Harkins, P.C. and specializing in third-party healthcare receivable management, where he was primarily responsible for market share expansion, service development, negotiation and contracting; clients include the substantial majority of Georgia s largest not-for-profit healthcare organizations. VHA Georgia, Inc. Executive Vice President & Chief Financial Officer of a statewide alliance of 18 large Georgia community healthcare that comprise Voluntary Hospitals of America s Georgia Regional Healthcare System. Responsibilities included, in addition to CFO duties for VHA Georgia and its related companies (Phoenix Healthcare Management Services, Inc., The Medical Resource Network, Inc.), liaison with the CFOs of owner/member systems and system development and performance improvement activities on a statewide basis; and integrally involved in the development and expansion of the regional healthcare system which is the vehicle used by the HCOs to develop and operate shared assets, then to dispose of them when their strategic purpose is satisfied. Additional Career Experience First National Exchange Bank of Virginia, Senior Operations Officer six years Education The University of Alabama at Birmingham Doctor of Science in Health Administration Dissertation topic: The Contribution of Interim Executives to the Healthcare Industry East Carolina University The University of Virginia Master of Business Administration Bachelor of Science, Commerce Professional Healthcare Financial Management Association Fellow. Past National Chairman of The Board of Examiners. Certified in healthcare finance, managed care and revenue cycle. National valedictorian of the revenue cycle certification class. American College of Healthcare Executives Fellow Georgia CFO Networking Group Founder and facilitator of the preeminent peer networking group of the Chief Financial Officers of over twenty of Georgia s largest not-for-profit healthcare systems representing a large majority of Georgia s NFP hospital beds. 4

5 Corporate Angel: Miller Design Build, LLC. A Marietta, GA based commercial sign company with 75% healthcare based revenue rescued from bankruptcy in Successfully transferred to original owner in 2009 after owning 100% of the business. Revenue size ~$2 million Fleet-PM. An on-site commercial truck service and maintenance firm based in Charlotte, NC. Revenue size ~$1 million. Ownership: 50%. Sold during