Home > Why GFO > Meet Our CFOs > John  Forsman

John Forsman

jforsman@gfocfo.com

Phone Number: 866-220-4092 x108

Primary Location: Naples, Florida

Secondary Location: Central, New Jersey

Years of Experience: 35

Biography: Prior to joining GFO, John was the Administrator of Physicians Regional Medical Group in Naples, Florida. Under his guidance PRMG turned around an operation that had been losing over a million dollars a month and led them to their month of profitability.

From 1996 to 2007, John served as the Corporate CFO and Senior Vice President of Financial Services for Saint Barnabas Health Care System, which was the largest health care system in New Jersey. In this capacity he managed a two (2) billion dollar budget. John managed all financial divisions including acute care hospitals, nursing homes, a statewide behavioral network, along with for-profit entities including physician billing and collections. He is an expert in Revenue Cycle Management.

Prior to joining Saint Barnabas, John was Corporate Senior Vice President and CFO of Community/Kimball Health Care System. From 1994 to 1996, he led the turnaround of Kimball from technical bankruptcy to the top quartile in operating margin in New Jersey.

From 1983 to 1994, John held executive finance positions of increasing importance at Community Medical Center in Toms River, New Jersey. He was ultimately CFO of the 596 bed medical center.

Prior to Community Medical Center, John held finance positions at Riverview Medical Center, Muhlenberg Hospital, and Jersey Shore Medical Center.

John is a Life Member and Past Director of the National Board of the Healthcare Financial Management Association. He is Past Chairman of the National Association of Medicare Dependant Hospitals. John has served on the Board of Trustees for Community Medical Center and Saint Barnabas Behavioral Health Center. He is the former Treasurer of Center State Health Services, former member of the CFO Council of The Healthcare Roundtable, Past Chairman of the Medicare Equity Task Force for the New Jersey Hospital Association, and Past Board Member of Christian Brothers Academy.

John has been a speaker at local, state and national seminars for The Healthcare Financial Management Association, The Healthcare Roundtable, the New Jersey Hospital Association, Ocean County Office of Aging, and Christian Brothers Academy.

Successes:

• Led turnaround of Saint Barnabas Health Care System

• At Saint Barnabas he planned, designed, staffed, and brought online a fully functioning centralized business office responsible for collecting all system acute care revenue.

• Led the integration of all financial departments for nine (9) hospitals and medical centers. He led the consolidation of all system wide operations into one system, resulting in FTE savings of $375 thousand a year.

• Introduced and managed initiatives at Saint Barnabas that resulted in over $100 million in improved operations, enhanced cash collections by $80 million, and implemented policies and procedures that brought all system cash assets into one portfolio.

• Led the technical turnaround of Community/Kimball Health Care System

Education

John earned a B.S. degree in Business Administration/Accounting and an MBA at Monmouth College in West Long Branch, New Jersey

Areas of Expertise: Acute Healthcare Finance, Revenue Cycle Management, Physician Practice Management, Billing and Collections

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