Donald Reid

Donald Reid Email and Phone Number

CFO/Finance Executive @ Praesum Healthcare
Donald Reid's Location
Miami-Fort Lauderdale Area, United States, United States
Donald Reid's Contact Details
About Donald Reid

Experience in both for-profit and not-for-profit organizations. Exceptional analytical acumen in financial and operational areas with a proven track record for identifying deficiencies, making recommendations, and achieving results. Facilitated organizations to dramatically improve revenue, decrease expenses, grow volume, and create steady sustainable stewardship improvement.> Implemented supply expense improvements resulting in $130 million in savings.Negotiated purchased service contracts resulting in $70 million in savings.> Identified and implemented productivity management improvements resulting in a decrease of unnecessary overtime and total labor cost over $34 million.> Developed critical process improvements generating $28 million in increased revenues.> Increased contract compliance from 73% to 88% in the key service.> Recognized the lowest supply cost metrics of 14 divisions containing 189 hospitals.> Consolidated Chart of Account for 57 individual companies into one comprehensive structure.> Increased collections by 280% by improving the patient information collection, insurance verification, and registration processes.> Created multi-billion-dollar capital and operating budgets for multi-entity systems.> Developed and implemented a database and tools for tracking revenues, expenses, and compliance.> Created multiple dashboards and modeling tools to focus data into actionable information.> Coordinated with Physicians to reduce supply expenses by establishing usage protocols for Pharmaceuticals, Biologics, Blood Products, and the Reprocessing Program.> Redesigned the Compensation Program by reducing job codes from 708 to 286 and pay grades from 69 to 28 facilitating a more competitive position for retention and recruitment.> Implemented multiple software, Decision Support and Cost Accounting Systems.> Led a $65 million turnaround and reorganization plan by reducing labor and expenses.

Donald Reid's Current Company Details
Praesum Healthcare

Praesum Healthcare

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CFO/Finance Executive
Donald Reid Work Experience Details
  • Praesum Healthcare
    Corporate Controller
    Praesum Healthcare Mar 2022 - Present
    Lake Worth, Florida, Us
    > Managed accounts payable, accounts receivable, analytics, cash flow, and forecasting processes across multi-facilities, multi-states to ensure effective and efficient service to the Leadership Team. > Streamlined Month Close process for Accounting, Accounts Payable and Revenue Cycle.> Revised the revenue reconciliation and GL posting process.> Consolidated Chart of Account for 57 individual companies into one comprehensive structure.> Created multiple dashboards and modeling tools to focus data into actionable information.> Established Internal Audit and Internal Controls following the Sarbanes-Oxley guidelines.> Implemented SAP Concur Expense Management and Workday Adaptive Planning Software.
  • Management And Planning Associates (Mpa)
    Principal
    Management And Planning Associates (Mpa) Oct 2017 - Present
    > Provided strategic insight, expertise, and analytics to client C-Suite executives in the areas of revenue growth, expense management, contracted/purchased services, workforce/staffing management, data analytics and benchmarking to generate sustainable value and return on investment for clients.> Developed critical process improvement initiatives to drive best practice performance.VP Financial Operations and Strategic Development for Genesis Medicus Florida and California (July 2019 – July 2022) > Developed a database for tracking revenues, expenses, and compliance.> Automated financial reporting, realigned HR compliance, and optimized staffing needs.> Managed the operations and expansion of multiple office sites.> Served as a partner to the CEO in achieving financial goals and objectives, offering financial insight and guidance for the executive management team.> Managed cash flow and working capital to ensure companies growth forecast.
  • Hca Healthcare
    Chief Financial Officer - East Florida Division
    Hca Healthcare Jun 2015 - Jul 2017
    Nashville, Tn, Us
    > Recognized the lowest supply cost metrics of 14 divisions containing 189 hospitals.> Increased contract compliance from 73% to 88% in the key service lines of Cardiac Rhythm Management, Cardiovascular, Orthopedics, Dermatology (Burn Unit) and General Surgery.> Managed all accounts, ledgers, fixed assets, and reporting systems, ensuring compliance with appropriate Generally Accepted Accounting Principles (GAAP), regulatory requirements.> Managed accounts payable, accounts receivable, analytics, cash flow, and forecasting processes to ensure effective and efficient service to customers. > Directed Internal Audit and Internal Controls following the Sarbanes-Oxley guidelines.> Collaborated with Physicians in evaluating new products and technologies to exceed quality, service and outcomes expectations.> Created capital and operating budgets for 13 hospitals in excess of $1 Billion in expenses.
  • Fti Consulting
    Sr. Director Consulting, Healthcare Solutions Division
    Fti Consulting Jan 2014 - Mar 2015
    Washington, Dc, Us
    > Led multiple teams in identifying and implementing expense savings, labor optimization, and revenue enhancement opportunities using change management. > Provided leadership in guiding project direction and outcomes to organizations across the country generating $33 million in savings.> Designed and implemented a company-wide categorization model for purchased service companies to identify savings opportunities.> Responsibility for management of engagement financials and operational efficiency.> Developed critical process improvement initiatives to drive best practice performance generating $22 million in increased revenues.
  • Medassets Advisory Solutions
    Director Consulting, Healthcare Solutions Division
    Medassets Advisory Solutions Oct 2010 - Jan 2014
    Alpharetta, Ga, Us
    > Demonstrated overall responsibility for project management, client management, solution design, and implementation as well as achievement of hospital engagement results.> Developed tools to facilitate clinical and non-clinical teams to identify savings opportunities generating results.> Oversaw data mining and intake processes utilizing SQL scripting to identify opportunities.> Provided leadership in guiding project direction and outcomes to organizations across the country generating $42 million in savings.
  • Memorial Healthcare System
    Asst Director Finance
    Memorial Healthcare System Sep 2005 - Oct 2010
    Hollywood, Florida, Us
    > Worked closely with Hospitals, Outpatient Centers and Nursing Home CFO’s, controllers and accounting staff to ensure all financial and operational processes complied with guidelines.> Performed Monthly Operating Revues with leadership providing variance analyses for expenses and productivity.> Collaborated with the Physician Group VP to provide financial oversight, support, and growth development for the physician groups and practices.> Produced multi-million dollar operating and capital budgets, recognizing financial forecasting to meet the corporations’ and government oversight expectations.> Coordinated and led special projects as requested by Corporate Leadership for the evaluation of new and existing programs and/or services, joint ventures, acquisitions, and other new business and growth development.
  • Mount Sinai Medical Center Miami Beach
    Manager, Financial Operations Pmo
    Mount Sinai Medical Center Miami Beach Jan 2001 - Sep 2005
    Miami Beach, Us
    > Led organizations turnaround and reorganization plan.> Identified new business growth as well as consolidation opportunities.> Implemented a productivity management tool realizing a decrease in FTE’s and a reduction in labor cost by controlling contracted labor and OT.> Developed expense management tools recognizing a reduction in supply and purchased services expenses.> Developed and implement Value Analysis Review Process, Expense Management, and Performance Reporting Programs.
  • Tenet - North Shore Medical Center
    Director Finance, Strategic Planning And Special Projects
    Tenet - North Shore Medical Center Jan 1999 - Jan 2001
    Dallas, Texas, Us
    > Directed and coordinated financial proformas and financial forecasting in coordination with marketing strategies.> Oversaw the strategic alignment, oversight, and management of claims processing, collections, payment functions and Case Management Systems for the organization.> Developed and implemented productivity management tool realizing a reduction in FTE’s and an labor cost primarily by controlling contracted labor and overtime expenses.> Maximized Revenue Cycle initiatives by providing Managed Care Contract with cost accounting data.> Produced an annual Budget recognizing financial improvement in accordance with the corporations’ expectations.

Donald Reid Skills

Operations Management Supply Chain Management Microsoft Excel Healthcare Management Cross Functional Team Leadership Healthcare Information Technology Process Improvement Strategic Planning Analysis Contract Negotiation Revenue Cycle Healthcare Consulting Budgets

Donald Reid Education Details

  • Florida International University
    Florida International University
    Health Services Administration
  • Florida International University
    Florida International University
    Health Services Administration

Frequently Asked Questions about Donald Reid

What company does Donald Reid work for?

Donald Reid works for Praesum Healthcare

What is Donald Reid's role at the current company?

Donald Reid's current role is CFO/Finance Executive.

What is Donald Reid's email address?

Donald Reid's email address is do****@****ast.net

What is Donald Reid's direct phone number?

Donald Reid's direct phone number is +195464*****

What schools did Donald Reid attend?

Donald Reid attended Florida International University, Florida International University.

What skills is Donald Reid known for?

Donald Reid has skills like Operations Management, Supply Chain Management, Microsoft Excel, Healthcare Management, Cross Functional Team Leadership, Healthcare Information Technology, Process Improvement, Strategic Planning, Analysis, Contract Negotiation, Revenue Cycle, Healthcare Consulting.

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