Project Description

Mark Hartman CPA, FHFMA

Partner

Through more than 35 years of experience, Mark Hartman has garnered the ability to recognize and capitalize on growth opportunities to maximize success. His education, accounting background, and skill set provide him with a unique understanding to lead and guide healthcare organizations at all levels, including financial restructuring processes, M&A integrations, and due diligence reviews.

Mark has a passion for forming leaders in the healthcare industry, and with a knack for building and motivating teams, he is always ready to hit the ground running and deliver results quickly. He is a change agent skilled at assessing and simplifying complex situations by defining and leading transformational initiatives for leadership and through identification of cost reductions and procedure efficiency improvements.

He has a history of surpassing ambitious business goals and creating innovative growth strategies to position healthcare organizations and companies for long-term growth and spurring double-digit profits. Mark demonstrates a profound dedication to stakeholder and client engagement, and supporting executive leaders, boards, and civic communities.

Spectrum Role

Mark joined Spectrum Health Partners as a Principal in 2014 and was promoted to Partner in 2017. He plays a lead role financial restructuring processes, merger and acquisition integrations, and due diligence reviews, including coaching and developing department and hospital leaders serving in a leadership capacity.

Strengths

Turnaround and System Efficiency • Crisis Management • Interim Management • Operations Management • Financial Forecasting • Operational Planning and Financial Strategy • Cash Management • Due Diligence Reviews • Mergers & Acquisitions • Regulatory Compliance • Post Transaction Services • Innovative Leadership and Oversight • Team Engagement • Continual Operational Improvement • Process and Business Optimization • Client Engagement

Expertise

Mark began his career with a regional public accounting firm before moving into leadership roles in a variety of hospitals and healthcare organizations.

  • Served as Hospital CEO, System Regional CFO, and Hospital CFO across a broad market of large healthcare providers, for-profit and not-for-profit hospitals, including stand-alone, system-affiliated, public, private, and physician-owned entities
  • Played an integral role in assisting a private company with filing Initial Public Offering through diligent work with the company’s CFO, General Counsel, outside legal counsel, and underwriters to complete all the elements of the S-1 filing

Operational Planning and Financial Strategy:

  • Obtained a $60M loan to fund the acquisition of Arkansas Heart Hospital and implemented full treasury and banking functions in the organization previously handled at the corporate office level
  • Led the implementation of a clinical documentation improvement program at 10 hospitals, resulting in improved reimbursement of more than $5M in the first year
  • Launched a productivity system at 12 hospitals, resulting in reduced salary, wages & benefits by $8M annually

Innovative Leadership and Oversight:

  • Worked with facility CFOs and CEOs to improve financial operations of facilities in areas of revenue cycle, clinical documentation, managed care contracting, materials management, case management and productivity
  • Provided senior management leadership in various healthcare organizations, including departments of accounting, business office, materials management, medical records, and information systems
  • Provided financial statement analysis and simplified results for corporate leadership, hospital executives, hospital team leaders, and physician investors, and provided recommendations for improvements

Performance Turnarounds and System Efficiency Improvements:

  • Masterfully negotiated debt agreement for a fully leveraged buyout of hospital and purchase of a 17-physician cardiology practice
  • Led a change in operations for the business office and case management in determining patient status; as a result, this change increased hospital net revenue by $5M annually
  • Implemented contracts for primary source vendor on major supply items, resulting in savings of $3M annually
  • Implemented a successful review process of all Medicare patient status by a third-party physician reviewer at a 12-hospital system, resulting in improved net revenue of $12M annually

Team Engagement:

  • Led teams at all levels in healthcare, financial restructures, and merger and acquisition due diligence
  • Worked with the clinical and support departments to increase operational outcomes of hospitals and led the transition of two hospitals converting to Cerner Electronic Health Records, ensuring processes were implemented completely and timely to capture charges accurately in order to return positive net cash flows
  • Worked seamlessly with medical staff and department directors to increase patient volumes while maintaining or decreasing expenses; as a result, obtained over a 95% approval rating for patient satisfaction scores and received an award from NRC Picker for highest rating for the country

Education, Certifications & Affiliations

Mark obtained his Bachelors of Business Administration from The University of Central Arkansas and is a Certified Public Accountant in the state of Arkansas. He is a Fellow in Healthcare Financial Management Association (HFMA) and previously served as the Association’s Regional Executive and Arkansas Chapter President.

Mark is an active member of the American Institute of Certified Public Accountants, the Knights of Columbus and the American Heart Association (AHA), previously sitting on the Central Arkansas Chapter Board for the AHA.

Honors & Awards

Arkansas Business CFO of the Year for Large Private Company (2012)
HFMA – Founders Medal of Honor Award Recipient
HFMA – Gold Merit Award Recipient

Testimonials

“Mark Hartman is a remarkably talented healthcare leader. He understands the day-to-day operations of a hospital and is a very efficient manager. Upson Regional Medical Center contracted with SHP and Mark to be our Interim CEO during our search for a permanent CEO. and we were extremely pleased with his performance. Mark ensured the day-to-day operations were properly managed, ensured the completion of a new medical office building, and the on-boarding of a new ENT physician joining our hospital. The most impressive part of all this is Mark joined our team and within one week, he knew just about every employee by name and had all the department leaders and the administrative team on the same page. It was as if he had been our CEO for five years. Truly an amazing leader.”

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