Sharon Clark

Experience

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  Coopers & Lybrand

  Jan 1990 - Jan 1992

  Senior Audit Associate

  Developed financial, analytical, and accounting skills while serving as a business, financial consultant, and auditor for small to mid-size manufac¬turing and service companies, financial services firms, and non-profit organizations as a member of Coopers & Lybrand’s Fort Worth staff• Oversaw operational and financial audits. Prepared financial and management reports. Worked on non-profit, banking, healthcare, foundations, oil and gas, and manufacturing clients• Established a reputation as a subject matter expert in the financial, accounting, and regulatory nuances of the banking sector, the healthcare industry, and the emergence of assisted living residential communities Show less

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  Cook Children's Health Care System

  Jan 1993 - Jan 2008

  Senior Vice President of Finance

  Worked closely with the Board of Directors, executive and operational leaders, and provided “top down” strategic business and financial leadership while enhancing operational transparency and financial controls across all 6 corporate entities. Included were the children’s medical center, HMO, home health, physician network, surgery center, and a malpractice indemnity company domiciled in the Cayman Islands. Served as primary contact for the Board finance, investment, and audit committees• Set the agenda for board and committee meetings and leveraged understanding of operating entities operations to gain senior leadership confidence and bring forth issues affecting business and financial performance• Created a five-year strategic financial plan enhancing overall business planning, forecasting and performance results• Led a critical evaluation of managed care contracts and negotiated new pricing and payment arrangements with payers • Benchmarked costs and performance by business entity, providing senior leadership with tools to improve bottom-line results by $30M+ through better labor resources allocation and establishing more efficient processes• Engaged in forthright communications and served as primary contact with external rating agencies to demonstrate the organization’s financial strength, culminating in an upgraded AA-rating from Standard & Poor’s • Assembled in-depth financial presentations showcasing the value of the business to bond rating agencies and financial advisors. Executed $60M in fixed debt swaps and tax-exempt variable rate debt offerings, which funded business development with new facilities• Built cash reserves from $100M to $600M through fiscal discipline, risk management and strategic investments• Played a major contributing role to the rapid growth and diversification of the organization from a single entity into an integrated delivery system with multiple business operations, which drove revenue from $400M to $1B over 10 years Show less

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  Covenant Health Care System

  Jan 2008 - Jan 2015

  Vice President of Finance

  Created centralized reporting for the Texas Region, which included 5600 employees and 11 operating entities: an adult hospital with 800 beds spanning 2 campuses, 2 regional hospitals, a separately licensed Children’s Hospital, a 180-physician medical group, a state-wide HMO operating out of Austin, one of the first designated accountable care organizations in Texas, a joint-venture long-term acute care hospital, several joint-venture surgical centers, and hospice. Reported to the CFO and directly supervised the chief accounting officer, controller, and multiple financial directors. Worked closely with the CEO, COO, and the Planning & Finance Committee of the Board • Rebuilt the finance area immediately after a restructuring in the department to replace the AVP Finance and 3 of 4 financial directors while reducing the utilization of high-level contractors and consultants• Developed appropriate policies, procedures, and controls that were lacking• Responsible for the regional centralization of accounting, financial reporting, cost reporting, accounts payable, and patient accounting for all entities in the Texas Region. Converted all entities to an accrual basis, shortened the monthly close process to 5 days from 30+ days, and developed consolidated financial statements• Subsequently coordinated with the corporate office, St Joseph Health in Orange County, California (now Providence), to move towards centralized revenue cycle, purchasing, payroll, and accounts payable• Continuously worked with operations to improve the balance sheet and income statement through revenue enhancement and expense control, including new service lines coupled with workforce productivity. Upon arrival, the operating margin was a loss was turned around to breakeven within two years.• Involved in multiple complex business transactions, including divestitures, purchases, and merging of two physician-owned surgery centers Show less

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  JPS Health Network

  May 2015 - Oct 2023

  Executive Vice President & Chief Financial Officer

  Provided financial leadership in all areas of finance, including payroll and compensation, investment management, health information management, supply chain, managed care, and revenue cycle. Facilitated leadership through complex transactions including expansion of facilities, development of new service lines, and providing healthcare to the Tarrant County community. As a large academic center, JPS trains over 200 residents annually and has the largest family practice program in the nation. Over 25% of patients are treated for mental health with one of the busiest emergency rooms in the nation. JPS medical center employees 7200 staff and includes a 582 bed Medical Center, Acclaim Physician Group with 400+ employed providers, and the JPS Foundation, producing a consolidated $1.7B operating revenue with $2.6B in total assets. • Developed a long-term financial plan that guided an increase of net patient revenue from $337M to $743M and increased cash from $494M to $1.4B in 8 years, enabling the organization to prepare for a $1.5B replacement facility and master plan. The Tarrant County voters overwhelmingly supported the issuance of $800M of debt with the remaining $700M of costs to be funded from operating cash• Responsible for investment decisions for District assets, including those subject to the Public Funds Investment Act. In February 2023, JPS received 3 superior financial ratings, including a AAA-rating as a public hospital, which greatly lowered borrowing costs. Issued $450M debt in 2023 under a new master facility plan. This was made possible through years of financial planning and cash management, coupled with building a great relationship with the external rating agencies Show less