MD

Michael Devaughn

Professional Summary



Professional Overview



Michael Devaughn is the Executive Vice President and Chief Financial Officer (CFO) at WakeMed, a leading healthcare system in North Carolina. With extensive expertise in financial management and strategic business operations, he plays a pivotal role in driving the organization's financial performance and long-term growth.

Experience Summary



Current Role


As the Executive Vice President and CFO at WakeMed, Michael is responsible for overseeing all financial operations, including budgeting, forecasting, and reporting. He collaborates closely with the executive team to develop and implement strategic initiatives that enhance the organization's financial stability and operational efficiency. Under his leadership, WakeMed has achieved significant cost savings and improved its overall financial health.

Career Progression


Prior to joining WakeMed, Michael held various leadership positions in the healthcare and finance industries. He served as the CFO at a regional hospital network, where he led the successful integration of multiple facilities and streamlined financial processes. Earlier in his career, Michael worked as a finance manager at a large pharmaceutical company, gaining valuable experience in corporate accounting and financial analysis.

Academic Background


Michael holds a Bachelor of Science in Accounting from the University of North Carolina at Chapel Hill and a Master of Business Administration from Duke University's Fuqua School of Business. He is a Certified Public Accountant (CPA) and has completed advanced training in healthcare finance and strategic decision-making.

Areas of Expertise


  • Financial management and strategic planning

  • Healthcare industry regulations and compliance

  • Mergers, acquisitions, and integration

  • Cost optimization and operational efficiency

  • Data-driven decision-making and performance analysis

  • Strong leadership and team management skills


Professional Impact


Under Michael's financial stewardship, WakeMed has achieved consistent revenue growth, improved profitability, and enhanced its overall financial stability. He has played a pivotal role in securing funding for major capital projects, enabling the organization to expand its facilities and upgrade critical infrastructure. Additionally, Michael has been actively involved in industry associations, sharing his expertise and contributing to the advancement of healthcare finance best practices.

Conclusion


With his demonstrated track record of success, Michael Devaughn is a strategic and forward-thinking finance executive who is committed to driving sustainable growth and financial excellence at WakeMed. His exceptional leadership, financial acumen, and industry expertise position him as a valuable asset in the healthcare sector.