HENRY M. SEYBOLD, JR., CPA, MBA 529 S. Summit Street (C) 815-997-3278 Barrington, IL 60010 hseybold@yahoo.com Mr. Gary Hamm President Healthcare Placement Group 30021 Tomas Suite 210 Rancho Santa Margarita, CA 92688 Dear Mr. Hamm: If you have or will have a search for a senior healthcare financial executive, I would like to submit my credentials for consideration. My experience in healthcare finance and operations should make me a strong candidate for your client s requirements. Over the last seventeen years I have been the Chief Financial Officer for two integrated health systems and have had direct responsibility for areas including: Revenue Cycle, Finance, Accounting, Budgets and Reimbursement, Managed Care Strategy and Contracting, Investments, Supply Chain, Business Intelligence and Information Technology. I have also been the senior staff support for several Board Committees. A few of my key accomplishments include: Executive Champion of a financial strength initiative that reduced costs by $35 million or 8% of total expenses. This multi-year project focused on revenue enhancement and cost reduction in areas including revenue cycle, labor, non-labor costs, clinical operations, and physician productivity and compensation. Lead support executive to the Board Working Committee in the identification, evaluation and negotiations to merge with another regional health system. This included extensive due diligence, negotiation of the affiliation agreement and developing an integration plan. Worked with other leaders in development of response to healthcare reform including negotiation of risk contracts, development of data analytics and the creation of the Business Intelligence department. Completed debt restructure for both systems to reduce interest expense, minimize covenants and provide a deferred cash flow stream to allow for reinvestment. Each System saved over $4 million in interest expense from prior debt structure. Currently, I m exploring my next career opportunity as a Financial Executive within an innovative and dynamic healthcare organization; ideally the Chief Financial Officer for a healthcare system or as a Chief Financial officer within a larger system is what I m seeking, and I am open to relocation for right opportunity. Enclosed a copy of my current resume for your review. I can be available to discuss my professional background at your convenience. Thank you, I appreciate your time spent in reviewing my qualifications. Sincerely, Henry M. Seybold, Jr. Enclosure
HENRY M. SEYBOLD, JR., CPA, MBA 529 S. Summit Street (C) 815-997-3278 Barrington, IL 60010 hseybold@yahoo.com CAREER SUMMARY Senior healthcare executive with demonstrated success in financial, operational and stewardship leadership for hospitals, physicians and managed care environments. Significant experience in strategic planning, business development, negotiations of mergers, physician practice management and overall financial management. Proven ability to influence Board and Medical leadership toward improved processes. PROFESSIONAL EXPERIENCE MERCY ROCKFORD HEALTH SYSTEM, Rockford, IL 2015 Present A $1.1B integrated health system as a result of the merger in January of 2015 of Rockford Health System and Mercy Health of Janesville, WI. The consolidated system includes five hospitals, over 550 employed physicians, two home care entities, long term care, a managed care company, offshore insurance captive and multiple development foundations. Senior Vice President and Co-Chief Financial Officer Work with CEO and other members of executive council to merge two health systems into one integrated system serving southern Wisconsin and northern Illinois. Lead financial activities, debt structure and overall system financial guidance. Leading development of system-wide forecast models including a new $500M hospital and ambulatory campus that will attract patients and providers from both service areas. Led modifications of current capital budget and worked with operations leadership to streamline and reduce capital budget in preparation for new campus. Led development and implementation of system-wide cost reduction initiatives that will generate an additional $18M in operating performance. Created strategy and presentation for rating agencies to maintain current A rating for incumbent as well as new combined System. Accountable for monthly financial performance to System and subsidiary Boards. Led operational and financial teams in performance improvement activities. Responsible for the development of integration planning for financial areas of the combined system including finance, accounting, regulatory reporting, patient financial services, decision support, population health, supply chain and insurance. Merging all Managed Care areas with focus on insuring system-wide contracting with managed care and commercial entities. Developing strategies to introduce system owned Manage care product throughout the entire new market. Responsible to develop a physician compensation model that moves all employed physicians to systemwide model resulting in stable physician employment and leadership involvement. Moved System to common fiscal year end. Consolidated auditors and financial advisors in first six months of System. In addition, continue direct overall financial responsibilities for Rockford Health System. ROCKFORD HEALTH SYSTEM, Rockford, IL 2006 Present A $500M health system composed of a 396-bed hospital, a 180 multi-specialty physician group, 60 bed rehabilitation hospital, active home care company, well-funded foundation and an offshore insurance captive. Senior Vice President, Chief Financial Officer and Treasurer (concurrent) Work collaboratively with Board, CEO and other members of Executive group to develop strategic and tactical plans of the System. Participate regularly in lead role with Board members, Operational and Medical leadership to establish and implement goals of the System. Full responsibility for all financial functions of the System including; System Finance and Accounting, budgeting, reimbursement, decision support, cost accounting, treasury, cash management, revenue cycle, business intelligence, managed care, supply chain, internal audit and insurance. Board member of captive insurance company with direct responsibility for dealing with excess carriers and independent management company.
Henry M. Seybold Jr., CPA, MBA Page 3 Executive Champion in financial strength initiative. This multi-year project focuses on cost control and revenue enhancement in key areas including revenue cycle, labor, non-labor, clinical operations and physician productivity. The successful goal was to reduce overall cost structure of System by 10%. Established key performance indicators for most areas throughout System. Lead executive for Rockford Health System in evaluation and negotiations to merge with another regional health system. o Executive liaison with outside consultants and counsel. o Negotiated Letter of Intent and Affiliation Agreement. o Co-chair of Integration Planning process identifying key opportunities for cost savings, program consolidation and revenue enhancement. o Led financial due diligence and negotiated all financial aspects of affiliation. Lead management team member on review by FTC of previous proposed merger. o Participated in hearings, depositions and interactions with attorneys and governmental representatives. o Led staff in working with Negotiating Committee of Board. Working with senior leadership of both hospital and physician group in developing response to healthcare reform. Involved in quality and patient satisfaction programs to ensure increases in quality and maximum reimbursement. o Negotiated shared risk agreements with various insurers, o Developed bundled payment options to be offered to both insurers and employers o Structured team to respond to several requests for direct contracting o System representative on the formation of a multi-provider Accountable Care Entity to take direct risk for Medicaid. o Develop data analytics capabilities to assess opportunities and identify necessary changes. o Worked with operations and clinical leaders to maintain high quality levels while reducing overall costs Completed restructure of physician compensation structure leading to a model to include integration of incentives between physicians and health system. Rockford Health System developed a multi-specialty physician group which is integrated with System leadership. Completed debt restructuring to eliminate Auction Rate Securities and address weaken credit position of Insurer. Worked closely with investment bankers and credit agencies to issue new debt providing for a more level debt service structure and reduced annual interest expense by several million dollars. Proactively took system through completely freezing defined benefit plan and developing multiyear plan to ultimately terminate program with full communication to Board and participants. Worked with a physician led committee in development of ambulatory surgery center models for consideration as part of overall Master Strategic Plan. Led Finance team installation of Epic system in 2011-2013 Restructured entire Finance Division to provide appropriate level of financial service to all divisions Managed a total investment portfolio of over $450 million for entire System. Worked with investment advisory group in selection and elimination of managers and development of plan for pension plan termination. Created a separate Decision Support function and re-implemented cost accounting system and net revenue comparison. As part of System strategic plan, worked to develop System business plan including debt capacity, demographics, proposed programs and financial projections to complete feasibility of System expansion to a new campus. FORUM HEALTH, Youngstown, OH 1999 2006 A $650M net revenue health delivery system including three hospitals, over 100 residents in seven programs, a rehabilitation hospital, a long-term care facility, three satellite campuses, a home care division, a physician hospital organization, a physician management company, occupational health and various support organizations. Senior Vice President, Chief Financial Officer and Treasurer Worked collaboratively with leadership teams of two individual hospital boards, two separate medical staffs and System leadership.
Henry M. Seybold Jr., CPA, MBA Page 4 Full responsibilities for all financial operations including Accounting, Budgets, Reimbursement, Decision Support, Treasury, Patient Financial Services, Patient Registration, Managed Care, Insurance, Decision Support Services, Materials Management, Medical Records, Facilities Management and Information Services. Operational responsibility for all non-acute entities within the System including an offshore insurance captive, a rehabilitation hospital, a home care company, a PHO and physician MSO. Chaired Revenue Cycle Review reducing gross days in receivable by 40 percent. This review impacted all areas of the Revenue Cycle including Patient Registration, Medical Records, Patient Accounting, reimbursement validation, denial management and managed care. Productively maintained positive relationships with major rating agencies despite challenged financial operating performance. Completed a refinancing of System debt and negotiated Letter of Credit on outstanding variable rate debts as part of Master Facility Plan. Treasurer for all areas of the System in investment portfolio management of over $300M. Chaired committee to develop productivity benchmarks for all acute-care areas; these benchmarks were implemented with expected savings of over 5% of entire workforce. Officer and Board member of Physician-Hospital Organization that negotiated all contracts with payers for three hospitals and two physician groups. Key member of Forum team involved in negotiations of a for-profit joint venture with over 130 physicians intent on developing a primary-care hospital. Member of negotiating team for orthopedic joint venture with largest orthopedic physician group in market and served as System s representative on Board of joint venture. Chaired Master Facility Steering Committee interfacing with architects, project manager, construction manager, specialized consultants and internal dedicated staff in development of $122M Master Facility Plan to include three campuses. Consolidated two separate accounting departments aligning appropriate responsibility with authority. Included all aspects of traditional finance areas. CROZER-KEYSTONE HEALTH SYSTEM, Media, PA 1990 1999 A $900M integrated health delivery system including five hospitals, several residency programs for 150 residents, four long-term care facilities, over 130 employed primary care physicians, a managed care company, an occupational health company and various other support organizations. Vice President, Finance, 1994 1999 Chief Financial Officer for all financial functions for a 300-bed acute-care hospital and non-acute division of the System including: four long-term care facilities, a 130 primary care physician management company, the parent corporation, an occupational health company and a managed care company. System wide responsibilities include budgeting, reimbursement, managed care and insurance. As CFO of long-term care division, charged to bring financial management in-house from a shared service. Senior finance representative in negotiations and sale of the division to a REIT and the creation of a joint venture to manage the sold facilities. This transaction reduced debt by $24M and generated a $5M gain on sale. CFO of a managed care company assuming risk from Medicare. Designed and implemented a financial reporting system that tracked financial results of all risk contracts; Health Plans of Pennsylvania was one of the first PSO models in the country. Senior Vice President and Chief Financial Officer, Delaware County Memorial Hospital, 1990 1994 A Crozer-Keystone 300 acute care-bed hospital responsible for all financial functions, information systems, accounts receivable, admissions and medical records. Completely redesigned and redirected finance team after experiencing a 100% turnover. Within six months a new financial management team was put in place with new policies and procedures documented. Completed the analysis, negotiations and acquisition of a competitor hospital in 90 days. Upon the successful selection and purchase, new financial systems were installed and went live in less than 60 days. Functioned as Chief Financial Officer of this facility until 1996 when it was merged into another of the System s hospitals. Navigated Delaware County Memorial Hospital s introduction to centralize all finance within the new system and co-chaired the Finance Centralization Committee.
Henry M. Seybold Jr., CPA, MBA Page 5 EARLIER PROFESSIONAL EXPERIENCE LAVANTHAL & HORWATH, Philadelphia, PA 1989 1990 Manager, Health Care Consulting RIDDLE MEMORIAL HOSPITAL, Philadelphia, PA 1984 1989 Director of Finance COOPERS & LYBRAND, Philadelphia, PA 1981 1984 Supervisor, Health Care Services Department GERMANTOWN HOSPITAL & MEDICAL CENTER, Philadelphia, PA 1978 1981 Manager, Financial Accounting and Cost Reimbursement EDUCATION/CERTIFICATION Master of Business Administration in Health Care Management LaSalle University, Philadelphia, PA, 1989 Bachelor of Science in Accounting Drexel University, Philadelphia, PA, 1980 Certified Public Accountant, 1982 (inactive) PROFESSIONAL AFFILIATIONS Advanced Member, HealthCare Financial Management Association Pennsylvania Institute of Certified Public Accountants, (inactive) COMMUNITY LEADERSHIP Leadership, Rockford Alumni Association Board Member, Rockford Chamber of Commerce Board Member, Van Matter HealthSouth Board Member, Junior Achievement Facilitator, The Healthcare Roundtable for CFO s