Fawcett Collecting Company currently serves several hundred clients in Northwest Ohio. In August 2014, Ken assumed leadership of the family-owned business—in continuous operation since 1904—that’s known for its high retention rate and performance at or above national benchmarks. Fawcett’s primary client base includes hospitals, health systems and physician practices, and delivers exceptional customer service to both client companies and debtors.

Revitalized struggling Holzer Consolidated Health System in preparation for its acquisition of Holzer Clinic—a physician-owned enterprise with significant ancillary services—to drive growth in era of decreasing reimbursement rates and increased competition. Managed all aspects of financial division, with authority for 250 financial professionals system-wide. Served on Board of Governors and Finance Committee. Business Impact:>> Crafted and executed $17M turnaround plan in first nine months, emphasizing revenue cycle, supply chain and staffing initiatives. >> Completed $150M bond issue that brought system into compliance with bond covenants and funded merger with Holzer Clinic. Assumed leading role in facilitating 2012 merger, which created a physician-led, professionally managed, integrated system.

Conducted due diligence review for acute care hospital acquisitions in New Jersey and Washington on behalf of prospective buyers. Provided detailed market and operational analysis, working capital valuation and fixed asset assessment.

Hired to direct all financial activities for health system based on successful record in revenue cycle and expense management, as well as joint venture experience. Led team of 250 financial professionals across three hospitals. Business Impact:>> Developed a feasibility study and strategy for the construction of a new $400M hospital to replace three existing facilities. Identified cost savings of $30M per year to fund project and secured Certificate of Need. >> Restructured under-performing, hospital-based dialysis system, which was overstaffed and hampered by incorrect charging practices. Effort produced $1M financial gain in less than a year. >> Conducted benchmark analysis that identified inefficiencies in staffing and supply utilization; implemented an improvement plan that increased operating margin by $10M+.

Orthopaedic Institute of Ohio / Institute for Orthopaedic Surgery – Lima, Ohio (2005 – 2006) Appointed to direct daily financial operations of a freestanding, 12-bed orthopaedic hospital jointly owned by St. Rita’s Medical Center and a 10-member physician group. Led team of six financial professionals. Business Impact:>> Elevated operating margin to 30% in less than one year through development of third-party contracts, expense reduction and operational efficiency improvements. >> Negotiated merger with a competing orthopaedic group practice that was projected to raise surgical volume 25% and reduce practice overhead by $750K within six months. >> Led sale of imaging services from group practice to hospital, boosting product line annual net income 200%+.

Charted new strategic course for a 400-bed, acute care hospital with $300M in annual net revenue and 3,000 FTEs. Directed all financial activities, including revenue cycle and general accounting; managed care contracting; IT; joint ventures; and real estate development. Served on Catholic Healthcare Partners Finance Committee, Investment Committee and IT Advisory Board. Managed 200 FTEs. Business Impact:>> Steered organization from barely break-even status to profitable market leader within four years, with 25% gain in net revenue and volume increases of 20%. Developed and executed multi-pronged strategy rooted in concept of “high-tech and high-touch,” featuring physician recruitment, quality enhancements, joint ventures and cost reduction initiatives. >> Partnered with medical staff to develop and launch multiple joint ventures, including two surgery centers, an orthopedic hospital and dialysis center. New services added $8M+ annually to system’s net income. >> Introduced new charge methodology that shifted profitability from 90% outpatient/10% inpatient to 70% outpatient / 30% inpatient, reducing vulnerability to competition from non-traditional providers. >> Developed the most successful Physician Hospital Organization in the state of Ohio—Cornerstone Alliance—that now includes 325 physician members and contracts with 30 payers. Reimbursement has been sustained well above state averages. >> Successfully reduced Accounts Receivable by 35% via a multi-departmental team approach. Analyzed admitting to zero balance processes to reengineer system.>> Decreased staffing by 25% in Patient Accounts through process redesign initiative. >> Created IT strategic plan that established foundation for enterprise approach to IT. Effort culminated in implementation of Cerner Clinical Information System. >> Oversaw development, construction and opening of four medical office buildings totaling approximately 400,000 SF—a key part of strategy to raise market share.