Dave Herman

VP of Finance & VP of Revenue Cycle

Professional Overview
Dave Herman is an experienced finance and healthcare executive, currently serving as the VP of Finance and VP of Revenue Cycle at Lake Health. He brings over 25 years of expertise in accounting, financial analysis, and revenue cycle management, with a strong track record of driving operational efficiency and financial performance improvements within the healthcare industry.

Experience Summary

Current Role
As the VP of Finance and VP of Revenue Cycle at Lake Health, Dave is responsible for overseeing the organization's financial operations, including budgeting, forecasting, and reporting. He also leads the revenue cycle management team, ensuring the timely and accurate processing of patient claims and collections. Under his leadership, Lake Health has achieved significant improvements in its revenue cycle metrics, resulting in enhanced cash flow and reduced days in accounts receivable.

Career Progression
Prior to his current role, Dave served as the Director of Accounting & Finance and Corporate Compliance Officer at Swedish Covenant Hospital, where he played a crucial role in improving the hospital's financial performance and compliance processes. Before that, he held leadership positions at the University of Chicago Hospitals and Saint Joseph's Hospital, where he demonstrated his ability to optimize financial operations and implement effective cost-saving initiatives.

Academic Background
Dave holds a Bachelor's degree in Accounting from the University of Illinois and is a Certified Public Accountant (CPA). His academic achievements and professional certifications have equipped him with the necessary financial expertise to excel in the healthcare industry.

Areas of Expertise

• Financial management and reporting

• Revenue cycle optimization

• Healthcare accounting and compliance

• Strategic financial planning and analysis

• Operational efficiency and cost reduction

Professional Impact
Throughout his career, Dave has been instrumental in driving positive financial outcomes for the healthcare organizations he has served. At Lake Health, he has led the implementation of innovative revenue cycle strategies, resulting in a 12% reduction in days in accounts receivable and a 5% increase in cash collections. Additionally, his expertise in financial analysis has enabled the organization to identify and capitalize on cost-saving opportunities, ultimately enhancing its overall financial health.

Conclusion
With his deep understanding of the healthcare finance landscape and a proven track record of success, Dave Herman is well-positioned to continue making a significant impact on the organizations he serves. As VP of Finance and VP of Revenue Cycle at Lake Health, he remains dedicated to optimizing financial operations, improving revenue cycle performance, and contributing to the overall success of the healthcare system.