Marybeth Formby
Division Chief Financial Officer at Providence St Joseph Health/Swedish Health System
- Role
- Division Chief Financial Officer, Puget Sound and Alaska Regions at Providence
- Location
- Seattle, WA, US
- LinkedIn followers
- 500 followers
About Marybeth Formby
Optimizing Business Results Through Vision, Strategy and Flawless Execution. Versatile and Entrepreneurial Healthcare Industry Executive with a track record of driving strong and sustained improvements to revenue, profits, ROI, and efficiency of leading healthcare organizations in both acute and post-acute settings. Trusted advisor to Boards and stakeholders within and outside the organization; experience in all aspects of strategic planning, operations, finance, managed care, billing/reimbursement, M & As, and negotiations. Articulate communicator and motivational leader who builds cultures of high engagement and efficiency and gains consensus across diverse viewpoints. Cost Containment—Identified need to reduce cost of orthopedic implants, in highly sensitive environment with well-established relationships between vendor and physicians/ Chairman of the Board. Tactfully demonstrated financial benefit to hospital’s bottom line and succeeded in gaining consensus. Renegotiated complex contract, saving $500K annually to the satisfaction of all parties. Business Turnaround—Transformed recurring annual operating losses to profitability at Irvine Regional Hospital within first year as CFO, generating profit of $1M by restructuring finance team, conducting internal audit to identify root causes, renegotiating contracts, and instituting operational changes and productivity improvement initiatives. Leadership—Took on additional roles at Lakewood Hospital during tumultuous period with multiple departures of top leadership including CEO (3), COO, CNO, and Business Development Leader. Fostered positive communications throughout the organization, worked closely with physician leadership and became the “go to” person for open roles. Brought stability and met strategic objectives, garnering respect throughout the organization.
Experience
Division Chief Financial Officer, Puget Sound and Alaska Regions
Jul 2022 — Present
Education
University of Southern California
Masters, Healthcare Administration
2007 — 2009
California State University, Long Beach
BS, Finance
1981 — 1986
Skills
- Executive Management
- Working with Physicians
- Health Insurance
- Project Planning
- Managed Care
- Mergers
- Provider Relations
- Meditech
- Financial Modeling
- Hospitals
- Financial Analysis
- Team Leadership
- Revenue Cycle Management
- Data Analysis
- Epic Systems
- Emr
- Medical Billing
- Healthcare Management
- Performance Improvement
- Healthcare
- Health Policy
- Medicine
- Physician Relations
- Revenue Cycle
- Quality Improvement
- Radiology
- Budgets
- Finance
- Physicians
- Leadership
- Nursing
- Clinical Research
- Ehr
- Healthcare Information Technology (Hit)
- Medicare
- Process Improvement
- Insurance
- Strategic Planning
- Policy
- Informatics
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