Oceanside, NY, January 30, 2015 --(PR.com
)-- The Long Island Business News (LIBN) recently named Mark Bogen, chief financial officer and senior vice president of finance at South Nassau Communities Hospital, a recipient of its 2014 CFO of the Year Award. Mr. Bogen is a recipient of the award in the category for “not-for-profit” organizations.
As a result of Mr. Bogen’s financial acumen, South Nassau remains uniquely positioned to manage the ongoing financial and economic uncertainty in the healthcare industry. Under his guidance, South Nassau‘s Fitch bond rating was recently upgraded from BBB+ to A-. In addition, without investment income the operating profit for 2013 was approximately $5.7 million, $2.7 million above budget and $9.8 million better than in 2012. Furthermore, the projected total operating gain for 2013 was $13.4 million, $4.7 million above the 2013 operating budget and $9.4 million higher than 2012. Total operating revenue in 2012 (Dec. 31 fiscal year end) was $392.6 million.
As a continuation of its ongoing expansion and renovation program to modernize its main campus, South Nassau is on the verge of completing a major rebuilding and renovation project of its F-1 and F-2 Units. The $18.6 million project will result in a new state-of-the-art, 23-bed Medical/Surgical Unit and a 20-bed Transitional Care Unit.
As senior vice president and CFO, Mr. Bogen is responsible for the overall financial management of South Nassau and manages the Hospital’s financial reporting and related internal controls. He also directs the organization’s financial planning related to growth, financing and associated issues and coordinates all relationships with auditors, third-party reimbursement agents, managed care companies, investment bankers and the Dormitory Authority of the State of New York (DASNY).
Mr. Bogen has more than 35 years of experience in healthcare financial operations. Prior to joining South Nassau, he was a Director at a nationally recognized healthcare financial consulting firm, Besler Consulting, where he managed the startup of the company’s New York operations. In 1997, Mr. Bogen founded The Bogen Consulting Group, Inc., and merged it with Besler in 2004. Before venturing into the consulting business, Mr. Bogen served as chief financial officer at Preferred Health Network, Inc., a $400 million, four-hospital, 1,200-bed hospital network. Mr. Bogen’s background also includes 10 years of CPA firm experience, eight with Pannell Kerr Forster and two as an executive at Deloitte & Touche, performing audit, tax and consulting services.
Mr. Bogen is a graduate of the State University of New York at Buffalo with a Bachelor of Science in Management, Mr. Bogen is active in numerous public accounting and healthcare financial management associations. His professional memberships include the New York State Society of Certified Public Accountants; the American Institute of Certified Public Accountants; the Healthcare Financial Management Association and the Healthcare Compliance Association.