Lorraine Cannon, CFO
Professional Overview
Lorraine Cannon is an accomplished finance executive with over 20 years of experience in the healthcare industry. As the Chief Financial Officer at Methodist Healthcare System, she oversees all financial operations and strategic planning for the organization. Lorraine is known for her expertise in financial analysis, cost optimization, and driving operational efficiency.
Experience Summary
Current Role
Lorraine has served as the CFO of Methodist Healthcare System since 2016. In this role, she is responsible for leading the organization's financial strategy, overseeing budgeting and forecasting, and ensuring compliance with regulatory standards. Under her financial leadership, Methodist Healthcare System has achieved consistent revenue growth and improved profitability year-over-year.
Prior to her CFO role, Lorraine held the position of Associate Chief Financial Officer at Rose Medical Center from 2012 to 2016. In this capacity, she played a key role in implementing innovative cost-saving measures that resulted in a 12% reduction in operating expenses.
Career Progression
Lorraine's career in healthcare finance began in 1998 as an Assistant Controller at HealthONE, where she gained valuable experience in financial reporting, cost accounting, and strategic decision-making. She later joined Dean Foods as a Cost Accountant, where she honed her skills in data analysis and process improvement.
Throughout her career, Lorraine has demonstrated a strong ability to drive operational efficiencies and optimize financial performance. Her track record of success has earned her a reputation as a highly capable and strategic finance leader in the healthcare industry.
Academic Background
Lorraine holds a Bachelor of Business Administration degree in Accounting from the University of Texas at San Antonio. She is a Certified Public Accountant (CPA) and has completed various executive leadership programs to enhance her management and decision-making skills.
Areas of Expertise
- Financial planning and analysis
- Cost control and optimization
- Revenue cycle management
- Healthcare regulatory compliance
- Strategic decision-making
- Team leadership and mentorship
Professional Impact
Under Lorraine's financial stewardship, Methodist Healthcare System has achieved several notable accomplishments, including:
- Implemented a new financial reporting system that improved data accuracy and timeliness by 30%
- Spearheaded a cross-functional project that reduced supply chain costs by 8% over a two-year period
- Played a key role in the successful acquisition of a regional healthcare network, enhancing Methodist Healthcare System's market share and service capabilities
Conclusion
Lorraine Cannon is a seasoned finance executive with a proven track record of driving financial performance and operational excellence in the healthcare industry. Her strategic vision, analytical expertise, and collaborative leadership style make her a valuable asset to Methodist Healthcare System as it continues to navigate the evolving healthcare landscape.
