VIDEO: GMH Hopeful New CFO Allan Ulrich Will Help Reduce $20M Debt

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Guam – The newly hired Guam Memorial Hospital Chief Financial Officer is set to start his first day of work on Monday. Today we sat down with GMH CEO Joseph Verga who explains why he chose Allan Ulrich to lead the finances of the hospital.

One of the bigger issues incoming CFO Allan Ulrich will have to tackle is the more than $20 million dollar debt at GMH. Hospital Administrator Joseph Verga tells PNC News that despite the disturbing number, he has every bit of confidence in Ulrich to bring the hospital closer to achieving financial solvency.

“One of the reasons why I chose Allan is his ability to bring hospitals out of the red. I’m not sure he’s ever dealt with as much red as we have here but he knows what he’s coming into. Working together, I have no doubt that we’ll be able to going forward. It’ll take some time but we are steadily, and moving forward we will pick up that rate of progress,” says Verga.

In fact, Verga says the debt at GMH has been shrinking, albeit slowly. He says the hospital’s current debt is about $22 million. Just a few months ago, Verga says, that debt was at $24 million.

“We’re never going to tackle that entire debt and pay it off at a decent rate. We are, we’re paying it off as much as we can and still trying to keep the hospital running by staying as current as we can with the vendors,” notes Verga.

Ulrich was flown into Guam from Scottsdale, Arizona. He’s contracted for two years with a salary of $145,000 annually. Verga says acting CFO Jun Infante will go back to his post as accounts supervisor but will assist Ulrich in his new position until he is acclimated.

Read the RELEASE from GMH below:

Guam – Guam Memorial Hospital is pleased to announce that Alan Ulrich is scheduled to begin in his new role as Chief Financial Officer effective Monday December 17.

Jun Infante has been serving the Hospital as Interim Chief Financial Officer since the retirement of Siva Karuppan in May of 2012. Mr. Infante will return to his duties as General Accounting Supervisor upon Mr. Ulrich’s arrival.

Ulrich brings broad experience as a health care executive and financial manager to GMHA. Most recently, he served as Interim Chief Financial Officer for Gila River Health Care, a comprehensive care provider serving federally recognized tribes in central Arizona.

Prior to that, he held the position of Vice President at Matrix Medical Networks, a provider of managed care services in Phoenix, Arizona.

In addition, Ulrich has worked at Wahiawa General Hospital on Oahu, Hawaii and Sage Memorial Hospital in Ganado, Arizona in a variety of financial management, productivity analysis, and change leadership roles.

He earned his MBA from the University of Saint Thomas in Saint Paul, Minnesota and received his Bachelor of Arts degree from Luther College.

“We are all looking forward to working closely with Alan to transform the hospital’s fiscal operations and move forward to firmly secure and establish GMHA’s financial stability and new strategic priorities (ACES + Q), Accountability, Cost Effectiveness, Excellence, Safety + Quality” said Administrator and CEO Joseph Verga.

“We also want to thank Mr. Infante very much for his dedication and all his hard work and efforts serving as acting CFO. Jun will continue to play a very important role as part of the leadership team as we move GMH forward,” Verga also said.