LRMC CFO Paul Powers Announces Retirement: Evan Jones to Join LRMC as New CFO
Thursday, March 17 2011
With sincere appreciation and admiration, Lakeland Regional Health Systems, Inc., announces the retirement of Senior
Vice-President/Chief Financial Officer Paul Powers, to be effective in September 2011. Paul has 18 years’ experience with LRMC, guiding the organization’s financial path through many challenges and opportunities over the years.
During Powers’ tenure, the assets of LRHS grew from $262 million to over $724 million, while the operating expense budget grew from $224.5 million to nearly $660 million. Six bond issues were completed, with total bonds issued of more than $395 million, and the Health System has achieved and maintained a strong A2 rating with Moody’s Investor Services. LRHS entered a joint venture agreement in Lakeland Surgical & Diagnostic Center, constructed a parking garage and 8-story patient tower, built and opened Lakeland Regional Cancer Center, an outpatient rehabilitation clinic, and developed a trauma program which includes several physician specialty practices, among other accomplishments. Powers has been active with the Citizen’s Oversight Committee, with regard to the County’s plan for indigent care funding, and was instrumental in the opening of the federally-qualified health clinic in Lakeland.
“Paul was a model of gracious stewardship and dedication when he agreed to delay previous retirement plans to ensure a smooth transition when I was hired,” said President/CEO Elaine Thompson, PhD. “His commitment and leadership have been a steady support, and the Board and I are grateful for his willingness to serve through this time.”
LRHS is also pleased to announce that Evan Jones has accepted the Senior Vice-President/Chief Financial Officer position, upon Powers’ retirement. Jones has been employed by MainLine Health in Bryn Mawr, PA, serving in the role of Vice President of Finance for Lankenau Hospital since 2006, with additional responsibility for Riddle Hospital and Lankenau Institute for Medical Research since 2008.
Prior to joining MainLine Health, Jones served as Chief Financial Officer for St. Luke’s Hospital and Health Network in Bethlehem, PA, for 20 years. He earned his Master’s in Business Administration from Wilkes University and his undergraduate degree in accounting from Pennsylvania State University. He is married, with four children.
LRMC President and CEO Elaine Thompson, PhD, was a professional colleague of Jones during her tenure at University of Pennsylvania Health System, and worked alongside him at St. Luke’s Hospital and Health Network and Lankenau Hospital. In addition to a strong accounting, finance and treasury background, he brings expertise in health system development and graduate medical education financial analysis. Through the interview process, he was highly regarded by the Board, executive team, legal counsel, and directors on the finance team.
“The Board of Directors and I are confident that he will continue to bring to our health system a depth of experience and working knowledge of all aspects of healthcare financial management that will lead us proudly in the future,” said Dr. Thompson.
Jones noted that one of the attractions of the LRHS position was the opportunity to work with Dr. Thompson again. “Working with someone you’re compatible with, who shares common ideas, makes it easier to be effective,” said Jones. He added, “This is an era of cost challenges for hospitals. I think I have a lot to offer in looking at ways to deliver better quality care at a lower cost and to help the system grow.”
Jones will be collaborating with Paul Powers and the finance team throughout this year, prior to his relocation to Lakeland. A firm start date has not yet been confirmed. Following Powers’ retirement in September, he will continue to serve the organization as a consultant to Jones for a period of transition.