Interim-to-Hire CFO

Introduction

A Patina interim CFO hit the mark with a successful, sizable healthcare system. The CFO was hired by the client as a full-time leader after solving problems and adding value.

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Challenge

A world-renowned academic health system was going through financial turnaround and faced a CFO leadership transition within a $3B (USD) division. The client was working with an outside search firm that was going to take up to six months to bring viable candidates forward. They sought leadership coverage for three to six months. Patina acted quickly to present interim/interim-to-hire candidates. In less than a month, the leader of their choice began in the role.

Solution

The Patina Professional needed to bring experience in financial turnaround, revenue capture and EPIC optimization. Patina’s interim Professional was a perfect culture match and CFO fit. The client converted the interim to a permanent hire after four months. This trumped the quality of candidates from the search firm’s efforts.

Outcomes

Within the division, reporting is now daily instead of monthly. So there is visibility of performance. This created greater awareness about the relationships between finance and its dependency on other departments to complete the process with more efficiency. Dashboards were created by Patina’s interim executive that have become an enterprise-wide standard. The CEO incorporated the format into Board reviews. Performance improvement initiatives were implemented to show short- and long-term gains as the health system aims for achieving a 5% margin over two years. Meanwhile the system, which is very satisfied with Patina’s results, retained Patina for additional, full-time searches within the United States and abroad.


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