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Thursday, Mar 28, 2024

Hospital Veteran Gets Valley Presbyterian Post

Robert Allen, executive vice president/chief financial officer of CHA Hollywood Presbyterian Medical Center, was chosen to replace Valley Presbyterian Hospital’s outgoing vice president and chief financial officer. Albert L. Greene, Valley Presbyterian’s president and CEO, chose Allen to replace outgoing vice president and CFO Tracey Talley. Allen will join Valley Presbyterian on June 1. He has served as the CFO of several San Fernando Valley hospitals, including Verdugo Hills and Sherman Oaks hospitals. The new CFO said he believes his 13 years of experience with “standalone” hospitals, renegotiating payer contracts and finding funding sources have prepared him for his job at Valley Presbyterian. Despite Hollywood Presbyterian’s large indigent population, “We’ve kept it remarkably financial stable,” Allen said. “I served as a stabilizing influence when Tenet decided to sell the place.” “I’ve done a lot of refinancing debt at a lower interest rate or with a different payment mechanism,” he said. According to Allen, the challenges he will be facing in his new position are similar to the challenges he faced as the CFO of Hollywood Presbyterian. Both hospitals are about the same size and have similar demographics, with large immigrant, uninsured and indigent populations. Balancing the budget and serving a growing population are concerns many hospitals face. “Everybody’s trying to figure out how to finance health care,” Allen said. However, he noted, Valley Presbyterian “is nowhere close to debt capacity.” Allen said as the new CFO, he will be looking at expanding programs into the community to acquire a larger patient base and additional funding. Some of that growth will come from the hospital’s pediatric unit due to the demand for pediatric services, said Norma O’Flaherty, director of marketing and communications at Valley Presbyterian. Greene, who previously worked with Allen at CHA, said Allen “will play a vital role in Valley Presbyterian’s commitment to providing advanced quality health care for our community.” “Robert has a wealth of experience with both the not-for-profit and for-profit hospitals, making him a perfect fit for overseeing Valley Presbyterian’s long-range strategic financial requirements along with significant technological investment initiatives,” Greene said. Talley, Valley Presbyterian’s outgoing CFO, has accepted a position as the CFO of a newly formed hospital acquisition and development firm in San Diego.

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