Kevin Cavanaugh
Director, Finance - Penn State Health Medical Group @Penn State Health
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WORK HISTORY
Director, Finance - Penn State Health Medical Group @Penn State Health
US
Community based primary care, subspecialty, and hospital-based specialties, with 600+ providers, attributed lives and an operating budget of $490 million, supporting 4 hospitals.Business Development, Planning and Growth• Provided financial oversight of acquisitions and specialty growth to support 2 new hospitals and several new ambulatory sites leading to 110%- 130% growth in provider FTEs, activity, and revenue over 4 years. • Identified and provided financial direction on key projects such as migration of EHR and patient revenue system conversions from disparate platforms to Cerner Millennium and Soarian.• As part of integration, helped lead project to consolidate large, acquired practice into primary TIN.Performance Improvement/Expense management• Stabilized medical group financial performance after rapid expansion. Performance is now closely tracking budgeted operating margin. Loss per physician FTE has improved by 12 – 14% year over year.• Collaborated with decision support team to standardize provider productivity and access reporting and analysis. This allows medical group leadership to make informed decisions on program growth and performance improvement opportunities.• Provided financial support to medical group leadership in developing monthly operational reviews and tracking of performance initiatives.Health system initiatives• Close collaboration with community hospital leaders on relevant medical group financial performance indicators.• Aligned financial reporting for shift from regional structure to service lines and plans to combine academic and community medical group operations and leadership.Other accomplishments• Assumed responsibility as financial counterpart for several academic medical group departments and ambulatory operations.• Directed all major communications and education for operational leaders and managers on ERP implementation, rollout of Strata reporting and decision support, and annual budget process.
EDUCATION
University of Minnesota
Bachelor of Science - BS
University of Wisconsin-Madison
Master of Business Administration - MBA
ABOUT KEVIN CAVANAUGH
Over 25 years of progressive responsibility in financial planning, analysis, and reporting as well as business development for medical groups at three leading academic based health systems. Effectiveness at developing strong relationships and building consensus across the health system and academic units, from executive and physician leadership to departmental management and staff. Focus on development of plans that link operational and financial performance to organizational goals
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