Bayhealth announced Senior Vice President and Chief Financial Officer Michael Tretina was named to Becker’s Hospital Review’s 2016 list “150 Hospital and Health System CFOs to Know.”
Tretina said his fifth consecutive time making the list “is an honor and to have it happen so consistently is humbling.” He has received this recognition three times since joining Bayhealth in late 2013 and twice when he was CFO of Mary Greeley Medical Center in Ames, Iowa. Becker’s Hospital Review develops the list each year based on nominations, past lists and editorial research.
Tretina said the key to any health care organization’s success is operational efficiency. This means reducing costs and other expenditures while making investments in important areas to ensure growth. In the case of Bayhealth, examples of the latter include an electronic health record system and construction of the new health campus in Milford.
Since Tretina’s arrival to Bayhealth, the organization has seen a bond rating upgrade and has maintained cash flows and operating margins above industry medians. He has chaired the finance accountability team, renegotiated contracts and took other steps to improve quality and patient satisfaction.