February 1, 2007
David Morlock named new chief financial officer
of U-M Hospitals and Health Centers
ANN ARBOR, MI – David Morlock, M.B.A., a longtime University of Michigan Hospitals and Health Centers employee who has helped shape the finances of the institution and to steer many high-profile efforts, has been named the new chief financial officer of UMHHC.
Morlock began at UMHHC in 1990 and has served since 1997 as director of financial planning for the UMHHC, and since 2004 as director of finance for U-M’s C.S. Mott Children’s Hospital and Women’s Hospital. The CFO appointment has been approved by leadership in the Hospitals and Health Centers, the Health System and the University, with a starting date of Feb. 1.
“Dave is highly qualified, and I know that he’ll be a strong partner with others in the organization as we work toward securing the Hospitals and Health Centers’ financial stability into the future,” says Doug Strong, M.B.A., director and chief executive officer of the UMHHC. “We have a very strong financial organization, and it is a significant statement that we were able to find someone so qualified from within.”
Morlock’s contributions to the financial well-being of UMHHC include the development and implementation of an integrated strategic financial planning model, which has resulted in an improved operating margin and greater assurance of long-term financial viability; leadership of the team of advisers that has worked on the sale of the M-CARE health plan to Blue Care Network and Blue Cross Blue Shield of Michigan; and implementing a new pricing strategy for C.S. Mott Children’s Hospital.
Morlock says the current health care environment and the economic difficulties in the state of Michigan will present some continued challenges to him in his new role. He said that he and other financial leaders within UMHHC and the entire Health System will work together to meet those challenges.
“I am looking forward to being a key member of the leadership team that continues to improve the efficiency of the organization while still maintaining the highest quality of patient care,” Morlock says. “We are working diligently to manage our expense base and to prudently manage the balance sheet in order to meet our growth plans.”
Those growth plans include the new Cardiovascular Center clinical building, scheduled to open to patients in June; a new building that will house the expansion of the U-M W.K. Kellogg Eye Center’s clinics and laboratories, and research facilities focused on diabetes, set to open in 2010; and the new C.S. Mott Children’s Hospital and Women’s Hospital, scheduled for completion in 2011.
Strong also praised the work of interim CFO Tom Marks. “We appreciate the excellent job Tom has done in his 16 months on the job,” Strong says of Marks.
Prior to coming to U-M, Morlock was a commercial lender with City Bank & Trust Company and business manager with Visiting Care Home Nursing, which later became U-M’s Michigan Visiting Nurses. Morlock earned his master of business administration at Eastern Michigan University and was a graduate fellow at the Owen School of Business. He resides in Jackson, Mich.
Written by Katie Gazella
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