Health Care
Organized and Implemented Multi-million Dollar Financial Turnaround
Engineered a bottom line improvement to $13M and dramatically improved balance sheet through increases in cash balances and reduction in accounts payable.
Challenge, Strategy, and Results: In 1997, the Medical System lost money for the first time since it had been privatized. It was in the third phase of the spiral business development strategy and needed to borrow over $100M. The organization had to reduce costs by $30M per year for 3 years.
We positioned the organization to absorb $30M annual cost reduction by organizing a Vice President’s Performance Improvement team that created significant cross-functional teamwork and dramatically improved organizational planning and communication. We empowered Director level teams throughout the Medical Center and used project management techniques to lead a dozen process change teams that created improvements like increasing Operating Room case load by 30 cases/month and improved the through-put in the emergency department.