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After a six-month search, St. Vincent Hospitals and Health Services and its parent health care system have found a new chief financial officer.
Ian Worden begins his job as CFO for both St. Vincent Care Indianapolis Hospital and the Central Indiana Health System Nov. 16. The health care system includes St. Vincent Indianapolis, eight other St. Vincent hospitals and St. Joseph Hospital in Kokomo.
Worden comes to Indianapolis from the Peace Health system in Eugene, Ore., where he has served as a regional vice president and CFO. Perhaps as important is his experience in the Worden SSM Health Care System, a Catholic health care system with hospitals in Oklahoma.
"He understands how a large Catholic health system works," said Vincent C. Caponi, CEO of Central Indiana Health System.
Worden joins St. Vincent and CIHS as hospital administrators and their financial officers across the country struggle with an eroding financial picture.
"The challenges are numerous," Caponi said. "We're one of the most regulated businesses in the country."
Margins are shrinking thanks to the Balanced Budget Act of 1997 and other reimbursement issues with state or federal agencies. Hospitals also face as-yet-unknown capital investment to comply with provisions of the Health Insurance Portability and Accountability Act.
Worden also will face some challenges unique to his new job. Caponi said Worden will contend with seven different accounting systems now in use in various parts of the St. Vincent system.
"I think it's a challenging position," Caponi said, "but...