Our team of healthcare practitioner advisors is dedicated to improving the financial health of your organization. Meet your new team!
Kevin is known for his ability to develop and translate strategies into company growth and improved operational and financial performance. He has a consistent track record of achieving high performance in operating income, growth of market share, employee engagement, medical staff engagement, and board leadership. Passionate about servant leadership, coaching, leading with a purpose, and creating sustainable outcomes, Kevin has experience as a manager, financial advisor, strategist, board member, and coach.
Kevin served as Senior Vice President, Strategic Finance, Capital Asset Management and Integration for Bon Secours Health System, a $3.5 billion, 24,000 employee, healthcare system. His responsibilities included strategic affiliations, capital development projects, and integration of key operational functions. These priorities contributed to growth of market share and system-wide performance. There he developed and constructed medical buildings, formed equity partnerships with physicians, created clinical service partnerships, built a high-performing governing board, and grew operating EBIDTA.
Served as interim CFO for a $950 million total operating revenue healthcare system with acute, rehab, occupational health, outpatient, urgent/emergency, home care, hospice, senior living, and physician practice operations.
Led company growth starting with 15 employees to 750+/- employees, generating operating EBITDA ranging from 15 to 45% by enterprise group, and reaching $250 million in annual revenue and $45 million in annual income.
Led development, construction, financing, and operation of healthcare properties totaling 1+ million square feet including four office buildings, five freestanding emergency and urgent care centers, four medical oncology/radiation oncology centers, and other hospital, outpatient, and physician clinic facilities.
Completed acquisition of various advanced imaging, radiation oncology, assisted living, and ambulatory surgery centers from corporate owners and physician groups. Led initiatives for divestment of select business enterprises including DME, home infusion pharmacy, outreach laboratory, assisted living, and a risk-based behavioral health management organization.
Launched and completed a plan to build a multi-specialty medical group. Grew the group to 175+/- physician and APC providers. Led merger of the group with another hospital-owned physician enterprise.
Master of Business Administration – Finance, Virginia Commonwealth University
Bachelor of Science, Health Care Management, Medical College of Virginia – Virginia Commonwealth University
Leadership Coaching, Georgetown University – Institute for Transformational Leadership
Executive Integral Leadership, University of Notre Dame – Mendoza College of Business
Senior-level executive with comprehensive healthcare experience in large, multihospital healthcare systems, physician group practices, for-profit home health and biotech companies, mid-size community hospital systems, and Big 4 Accounting firms. A team-builder with proven track record of accomplishment. Broad finance and operations experience gained in publicly-held and private companies, including startup and turnaround situations.
Managed all financial aspects of Summa’s response to the Coronavirus pandemic including cost containment, federal financial
assistance, communications with rating agencies and banks, and securing $100M line of credit at an attractive rate
Restructured Summa’s debt portfolio including the completion of a $312M Series 2021 Financing. Achieved the tightest credit
spread by an insured non-profit hospital since 2019
Initiated a correct coding and 340b management engagement resulting in significant improvements to Summa’s overall revenue
cycle
Significantly improved Mount Carmel’s managed care contracted rates adding nearly $100M in net revenues over two years
Drove improved accountability for financial performance and significantly narrowed operating margin gaps over multiple years
Restructured Finance Division, developed existing leaders and, where necessary, appointed new leadership
Heavily involved in population health initiatives including Board Chair of MediGold, a provider-owned Medicare Advantage Health
Plan, ACO’s, MSSP, and bundled payments
Rebuilt Adena’s Finance Department to better serve the organization adding talent, functions (Treasury Management, Decision
Support, Reimbursement, and Financial Planning) and improved processes for Capital Expenditures, Productivity, and Manpower
management
Completed $143M refinancing of variable rate debt, and financed new Adena Cancer Center with $30M Bank Qualified Financing
Received rating upgrade from Moody’s, A2 Stable from A3 Positive, and outlook upgrade from Standard & Poor’s, A Stable from
A Negative
Created overall strategy for SOHCN deal structure for $16M FCC telecommunications grant
B.A., Accounting and Mathematics, Cum Laude – Marietta College
Certified Public Accountant (Inactive) – Ohio, 1982
Kari Cornicelli, FHFMA, CPA is an accomplished and visionary healthcare executive with a successful track record of achieving strong year-over-year financial results, growing market share, and driving operational cost efficiencies across diverse health care delivery systems. She has extensive experience including 3 ½ years as the Executive Vice President, Chief Financial Officer of one of the nation’s largest free-standing academic children’s hospitals. Additionally, Kari has 22 years of experience as a Chief Financial Officer in an integrated regional delivery system providing acute and tertiary services including level two trauma, kidney, pancreas and heart transplant programs, behavioral health, freestanding women and newborn hospital with level three neonatal care, ambulatory surgery and outpatient imaging centers, and comprehensive home care services.
Kari is an innovator leveraging clinical and financial data to deliver transformational results in profitability and growth, clinical and quality improvement, and employee/physician engagement. She is a strategic thought leader creating financial and patient care models that deliver quality clinical health outcomes, care coordination, and economic savings for value-based population health programs. Kari is a committed industry and community leader, at the local, state, and national levels, a poised and engaging presenter who excels at communicating complex information in a meaningful, actionable manner, and a frequent speaker at regional and national healthcare financial conferences.
Kari’s core values center upon compassionate leadership, accountability, and transparency. She is a genuine and authentic leader who cultivates strong relationships to create and implement effective strategies, achieving impressive operational outcomes. Kari focuses on financial integrity while developing sustainable financial systems and building best-of-class teams. She is passionate about mentoring the next generation of leaders.
Bachelor of Science, Accounting – Weber State University, Ogden, UT
Certified Public Accountant, Licensed in the State of California
Fellow, Healthcare Financial Management Association (HFMA)
Certified Green Belt and High Reliability Trainer
Kerry is an experienced Finance Administrator with a demonstrated history of working in the hospital healthcare industry. He is skilled in Medicaid, Physician Relations, Team Building, Management, and Healthcare Management. Kerry is a strong finance professional with a current CPA license and a BBA focused in Accounting.
Professional Experience
B.B.A., Accounting, Cum Laude – University of Georgia
Certified Public Accountant – Georgia, 1988 (license is current)
Fellow in the Healthcare Financial Management Association
Certified Global Management Accountant
David is an Operational Finance Executive with 35 years of extensive experience in healthcare accounting, accounts receivable management, budgeting, reimbursement, compliance, information systems, medical records, supply chain, and management engineering. Dave’s experience is in a wide range of healthcare settings from large referral/teaching hospitals to small 20-bed critical access hospitals. He has a solid work ethic with a history of achieving financial and income goals.
dlarsen@warbirdcp.com
Chris is a Healthcare Executive with 40 years of experience in C-Suite and Director level roles. He has been a member of several senior management teams with direct responsibility for revenue cycle, supply chain, treasury operations, reimbursement, financial reporting, financial planning, internal auditing, information systems, construction project oversight, oversight of all joint ventures, and oversight of all malpractice claim settlements and lawsuits.
Bond ratings improved from BBB+ to AA- by S&P and from Baa1 to A1 by Moody’s due to improved margins and balance sheet ratios. Operating margins were consistently positive since 2000 and key balance ratios have steadily improved with days cash increasing from 73 to 234 and cash to debt ratio from 0.4 to 1.75. Total revenues for the system have steadily grown from $0.8 billion in 2000 to $2 billion in 2018
Restructured revenue cycle process which included the formation of a central business office for all hospitals and physician practices, reduced denials, reduced managed care underpayments, and lowered net days in accounts receivable to mid 40’s
Restructured supply chain process which resulted in reduced number of vendors, reduced prices from remaining vendors, increased use of technology such as bar codes and electronic invoicing & payments, and improved satisfaction levels of clinical areas
Led transition from Premier purchasing group to Parallon/Health Trust group reduced supply costs by $15 million annually
Oversaw the implementation and growth of 340b drug program which resulted in annual savings growing from $1 million in 2004 to over $115 million in 2018
Redesigned malpractice settlement process to focus on early communication with patients and families, centralization of all claims with one legal firm, focused follow up of all open claims to ensure timely resolution, and improved reporting of identified risk issues across the System to ensure process improvements are implemented across all facilities. Changes resulted in malpractice liability being decreased from $75 million to $20 million
Led a cost reduction processes at numerous health systems that led to reductions of over $100 million
Negotiated limited network managed care contracts with Cigna, United and Blue Cross which increased managed care market share to over 50%
Actively involved in physician integration strategies with private and academic physicians that have resulted in either employment or professional service arrangements with over 490 physicians
Bachelor of Science, Accounting Major – Christian Brothers University
Masters in Business Administration, Finance Major – University of Memphis
Certified Public Accountant – 1980
Certified Management Accountant – 1981, Robert Beyer Silver Medalist
Robin is a Senior Healthcare Finance professional with more than 30 years of extensive experience in operational responsibilities, strategic planning, and financial management. Her experience includes but is not limited to various aspects of healthcare operations: physician practices, hospitals ranging in size from major teaching, community, long-term care, critical access, behavioral health, outpatient facilities, governmental, rural, and ambulatory care. Robin has proven expertise in improved revenue cycle, debt restructuring, treasury management, IT integration and managed care negotiations. She is a decisive, results-oriented leader with proven results in healthcare management.
Robin has considerable professional experience serving in positions of financial leadership in the healthcare industry. Before joining Warbird Consulting Partners, she served as Director of Revenue Cycle for Athens Regional Health System; CFO at Harnett Health System; CFO at Coshocton County Memorial Hospital; CFO and VP of Finance at Eagle Hospital Physicians, LLC; CFO and VP of Finance at Major Hospital; CFO at Greene Health Partners; and Director of Revenue and Statistical Reporting at Meridia Huron Hospital.
Masters in Healthcare Administration, Ohio University
Bachelor of Science, Accounting, Lake Erie College
Certified Public Accountant, Ohio
Experienced healthcare executive with a track record of success in providing strong leadership for hospitals and integrated delivery systems. She is a Chief Financial Officer and healthcare advisory consultant. Sandra’s current and past clients include both regional and community health systems. Her areas of expertise include financial management, operational leadership, physician relations/development, board interactions. She has demonstrated success in hospital turnarounds and the implementation of best practices. Sandra has excellent analytical, problem solving, and team building skills.
Executed a $25 million turnaround resulting in successive years of improved operating margins In conjunction with the CIO, lead a successful implementation of EPIC
Improved Revenue Cycle processes which led to increased collections of $50 million
Continued strengthening of the Balance Sheet; Assets increased from $730 million to $1.4 Billion, Cash and Investments increased from $129 million to $300 million
Days Cash on Hand improved from 110 Days to 300 Days
Increased Net Revenue from $525 million to $1 Billion though program development and acquisitions
Reversed a verbally received bond downgrade in 2008 to and outlook upgrade in 2010
Successfully refinanced Auction Rate Securities Bonds during the financial crisis of 2008, again refinanced bonds in late 2020 to take advantage of the lower interest rates
Negotiated joint venture with 49% ownership for the health system with local radiologists for an Independent Diagnostic Testing Facility
Negotiated the acquisition of critical access hospital and developed financial turnaround plan
Executed financial plan for the development of a 41-bed hospital and outpatient facility in a rural county which included USDA financing
Approved for participation in the Medicare Shared Savings Program with 8,000 attributed lives
BA University of South Florida
MHA University of South Florida
CPA, Licensed in Florida
Doug has 35 years of healthcare experience, primarily in executive management and senior leadership positions. Doug has functioned successfully as a managing partner in several roles including his present role as leader of the CFO Consulting Network within Warbird’s Healthcare Practice. He has also performed as a Sr. CFO (interim) and Sr. Financial Advisor to hospital and system clients. He has provided expertise in financial turnarounds and in margin and performance improvement efforts. Doug also assists Warbird Healthcare in business sales origination and client network relationships. He joined Warbird Consulting Partners as its Healthcare Managing Partner in January 2012.
In 1999, Doug joined Stockamp & Associates as a partner and managing director. Stockamp was acquired by Huron Consulting Group in 2008. Prior to his tenure at Stockamp, Doug’s career included 18 years of experience as a CFO, including work for the HealthEast Care System in St. Paul, Minnesota and at Good Samaritan Hospital within the Legacy Health System in Portland, OR. While at Legacy, Doug also served as Corporate Senior Vice President for Managed Care and Revenue Management.
Doug has a BA in Economics from the University of California, Santa Barbara and a Master of Public Administration (Financial Planning) from California State University, Long Beach.
Email: dfenstermaker@warbirdcp.com
Bachelor of Arts, Economics; University of Southern California, Santa Barbara
Master of Public
Administration (Financial Planning); California State University, Long Beach
Healthcare CFO Roundtable, member since 1993
Healthcare Management Academy, member since 2001
American Hospital Association, executive liaison since 2007
Mike is a senior Healthcare professional with a 30+ year career and a proven track record of accomplishments in Financial and Operational leadership roles within large Academic Medical Centers and Integrated Healthcare Systems. He has specific expertise in Strategic & Financial Planning, Managed Care Contracting, Physician Alignment, Revenue Cycle, M&A and Expansion. Mike has quality leadership skills and the ability to develop strong management teams. His communication and presentation skills are exceptional.
Prior to joining Warbird‘s CFO Consulting Network, Mike served as the CFO for The Ohio State University Wexner Medical Center, a $2.7 billion health system. Prior to joining OSU, Mike was System Vice President and CFO for Summa Health System for 11 years. Prior to Summa, Mike was CEO and CFO of the Cleveland Market for Sisters of Charity Health System (SCHS) and VP of Operations at Sharon Regional Health System. Over the 30 plus years in healthcare he accomplished the following:Directed all financial activity for a $2.7B net revenue academic medical center, including: College of Medicine, 1100 physician Faculty Group Practice, 6 hospitals, comprehensive cancer center, full service tertiary referral center, Health Plan and a network of Outpatient Centers
M.B.A. – Finance, West Virginia University
B.S. – Business Administration, West Virginia University
