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Merlyn Knapp
Interim/permanent hospital/healthcare CFO with operations turnaround results
Professional Background
Merlyn Knapp is a seasoned healthcare executive with over a decade of experience as both a Chief Financial Officer (CFO) and Chief Executive Officer (CEO). Throughout his impressive career, he has demonstrated remarkable capability in leading the financial resurgence of hospitals that were previously facing operational challenges, effectively turning around financially distressed institutions. His rich experience spans across diverse sectors including public, private, and non-profit healthcare systems, making him a versatile asset in the industry.
Beyond simple financial management, Merlyn has a robust track record of transforming operational practices that contribute to the overall success of healthcare organizations. His expertise in revenue cycle management has been instrumental in boosting hospital revenues and ensuring financial health. He specializes in creating comprehensive financial plans, developing effective capital budgets, and implementing strong cash flow management practices that empower organizations to thrive in complex healthcare environments.
Education and Achievements
Merlyn's academic foundation is built upon a strong understanding of accounting and finance, getting his Bachelor of Arts (B.A.) in these subjects from the University of Northern Iowa. He further enhanced his management capabilities with a Master of Business Administration (MBA) focused on Business Administration, Management, and Operations from Rockhurst University. This educational background equips him with the theoretical and practical knowledge necessary for high-impact financial decision-making in the dynamic healthcare landscape.
Throughout his career, Merlyn has received commendations for his ability to generate significant cash flow by implementing substantial revenue cycle improvements. His strategic interventions have led to the reversal of multi-million dollar operating losses, establishing a history of saving healthcare organizations substantial amounts, including over $10 million through the implementation of inventory controls and renewing a lapsed hospital license, which alone saved at least $12 million. Additionally, he has supported the analysis for new revenue programs, demonstrating his forward-thinking approach to financial strategy.
Notable Achievements
- Implementation of revenue cycle improvements that led to substantial cash flow generation for healthcare systems.
- Successfully reversed multi-million dollar annual operating losses, showcasing unparalleled expertise in financial recovery.
- Invented a cost-saving strategy by installing inventory controls, achieving savings of more than $10 million for healthcare operations.
- Renewed a lapsed hospital license, which was critical in saving over $12 million, underlining his negotiation and strategic planning skills.
- Prepared comprehensive financial analyses supporting the launch of new revenue programs, driving growth and expansion.
- Spearheaded training programs aimed at increasing productivity among staff, reinforcing the importance of human capital in healthcare management.
Furthermore, Merlyn has recently expanded his skill set by engaging in projects that require due diligence and interim financial oversight for new owners of Continuing Care Retirement Communities. His work has encompassed a wide range of services, including Skilled Nursing, Independent Living, Medical Nursing Homes, Respite Care, Home Health Services, and the Medicare Programs of All-Inclusive Care for the Elderly (P.A.C.E). This latest endeavor demonstrates his adaptability and readiness to take on complex financial leadership roles within various facets of the healthcare industry.
Merlyn's management style is characterized by his ability to distill complex financial and statistical reports into easily digestible formats for various stakeholders, including board members, senior leadership teams, department managers, physicians, and community leaders. This knack for communicating effectively ensures that all parties are on the same page, enabling more informed decision-making processes throughout the organization.
As he continues to leverage his extensive experience in strategic planning, forecasting, cash management, financial analysis, budgeting, and capital sourcing, Merlyn Knapp is well-positioned for permanent or interim CFO roles as well as project assignments. His dedication to enhancing the operational success of healthcare providers remains unwavering, underscoring his commitment to making a positive impact in the healthcare sector.