New CFO named at hospital
A recently established partnership between Sonoma Valley Hospital and Marin General Hospital is already bearing fruit, this time in the form of a new chief financial officer.
Rick Reid brings more than 24 years of experience in the health care industry, and is settling into his new role of monitoring the financial picture at the local district hospital.
"I'm not unfamiliar with running a hospital or helping to run a hospital," Reid said. Unlike the hospital's prior financial officers, Ried is not actually an employee of the Sonoma Valley Health Care District. For the past two years, he has worked as a controller at Marin General Hospital and will be a contracted employee at Sonoma Valley Hospital three days a week.
The partnership between the two district hospitals allows the facilities to share staff such as Reid, and the administration and board at Sonoma Valley Hospital are hoping to see the positive influence of the arrangement on their bottom line.
When asked what salary Reid would receive, hospital spokeswoman Bonnie Durrance said he was an employee of Marin General and she could not confirm with the CEO or accounting department what Sonoma Valley Hospital would pay for his expertise.
"I'm sure we're paying him something, I'm just not sure what it is," she said.
Before he began working at Marin General, Reid was the chief financial officer, and briefly the chief executive officer, at Doctors Medical Center in San Pablo, a piece of the West Contra Costa Healthcare District. He said he enjoys working with publicly-owned hospitals.
"I liked that (Sonoma Valley Hospital) was a district hospital with a lot of community involvement," he said.
Reid is a native of Michigan who worked as the chief financial officer of St. Mary's Hospital in Saginaw, Mich., before moving to California. He earned his bachelor's degree in business administration and accounting from Western Michigan University before receiving his master's in public administration and health care from the same institution.
He said, after getting his feet wet during his first hospital board meeting Thursday, his first act of business would be to meet with each department head to better understand their expenses. He added the hospital will also need to work on expanding revenues (see more on this in the accompanying budget story on A1).
"I have a strong background in cost controls," he said.
Reid lives in Martinez with his wife and twin 21-year-old daughters.