Becker's Hospital Review

13 CFO / FINANCE Henry Ford Health reports negative operating margin By Ayla Ellison Detroit-based Henry Ford Health ended the first half of this year with an operating loss, according to financial documents released Aug. 15. In the first two quarters of this year, Henry Ford Health reported revenue of $3.41 billion, up from $3.36 billion in the same period a year earlier. Net patient service revenue and healthcare premium revenue were up year over year. e health system attributed the increase in patient service revenue to higher pharmacy and outpatient volume. Aer factoring in expenses, which grew 4.4 percent year over year, the health system ended the first six months of this year with an operating loss of $74.77 million and an operating margin of -2.2 percent. Henry Ford Health reported operating income of $19.29 million in the first half of 2021. Henry Ford Health's nonoperating loss totaled $272.53 million in the first six months of this year, which was primarily attributed to a significant loss on investments. In the first half of 2021, the health system reported nonoperating income of $134.65 million. Henry Ford Health closed out the first half of this year with a net loss of $347.98 million, compared to a net income of $153.18 million in the same period of 2021. n Brigham and Women's Hospital names Daniel Morash CFO By Hayley DeSilva D aniel Morash has been named Boston-based Brigham and Women's Hospital's new CFO and senior vice president of finance. In addition to Brigham and Women's Hospital, Mr. Morash will also lead finance departments at the Brigham and Women's Physicians' Organization and Brigham and Women's Faulkner Hospital. "I'm so pleased to welcome Daniel in his new role as CFO and SVP of Finance," Robert S.D. Higgins, MD, president of Brigham and Women's Hospital, said in a press release July 21. "His proven track record of thoughtful and strategic leadership, coupled with his vast experience in academic medicine make him an excellent choice to shepherd our financial priorities and wellbeing." Mr. Morash is currently the CFO and senior vice president of the Mass General Physicians' Organization. He has also served as executive director of Massachusetts General Hospital's anesthesia, critical care and pain medicine department. He will succeed Christopher Dunleavy, who left the position in October 2021, and is expected to start Sept. 1. n Mayo Clinic operating income slips 66% in Q2 By Ayla Ellison Mayo Clinic's revenue and expenses were higher in the second quarter of this year, according to financial documents released Aug. 18. Rochester, Minn.-based Mayo Clinic's revenue totaled $4.03 billion in the second quarter of this year, up from $3.94 billion in the same period a year earlier. The nonprofit health system's expenses climbed 11 percent year over year to $3.88 billion in the second quarter of 2022. Mayo Clinic saw expenses increase across all categories, including salaries and benefits. Mayo Clinic ended the second quarter of this year with operating income of $155 million, down 66 percent from $451 million in the same quarter of 2021. Mayo Clinic has major campuses in Rochester, Jacksonville, Fla., and Scottsdale and Phoenix, Ariz. n

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