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Honor recognizes outstanding performance as a corporate financial steward
Inspira Health announced that Chief Financial Officer Tom Baldosaro was selected by the Philadelphia Business Journal as a 2020 “CFO of the Year.” Baldosaro was one of 22 CFOs, and one of only two health system CFOs, in the Philadelphia region to be honored. Award criteria includes: demonstrated contributions to growth and profitability; tenure and scope of responsibilities; leadership; success in overcoming business challenges; respect and influence within the network; and community involvement.
In his nearly 20 years at Inspira, Baldosaro has been a key player in many important financial milestones, leading the organization through times of growth and crisis. In 2019, Baldosaro led the financial preparations for the new state-of-the-art Inspira Medical Center Mullica Hill. More recently, at the onset of the COVID-19 pandemic, Baldosaro directed the network’s Supply Chain Management staff to aggressively pursue all viable options to secure much-needed Personal Protective Equipment. This crucial decision allowed Inspira’s health care heroes to safely treat hundreds of COVID-19 positive patients.
“Due to his exceptional leadership as CFO, Tom has expertly guided Inspira through both major financial milestones and some of the most challenging and uncertain times our network has ever faced,” said John DiAngelo, president and CEO of Inspira Health. “His unwavering commitment to the organization’s financial health allows us to continue to innovate, grow and provide high-quality care to the people of South Jersey. I am honored to have had Tom on my team all these years.”
Baldosaro has successfully negotiated several managed care contracts for Inspira that have resulted in significant revenue increases. Of particular note is the contract he finalized with Horizon Blue Cross Blue Shield to have Inspira designated as South Jersey’s first Tier 1 partner in the OMNIA Health Alliance.
He also developed a collaborative relationship with Cerner, a health care solutions provider, which resulted in a contract for Smart Room technology throughout Inspira’s new hospital.
Additionally, under Baldosaro’s leadership, Inspira greatly improved its financial standing, achieving a two-rating upgrade in 2019 from Fitch due to its strong operating margins during the new Inspira Mullica Hill construction project and the network’s successful implementation of an enterprise-wide electronic medical record. These initiatives, coupled with Baldosaro’s long-term planning for the organization, have consistently strengthened Inspira’s financial position.
For more information about Inspira Health, please visit www.InspiraHealthNetwork.org or call 1-800-INSPIRA. To stay connected with Inspira announcements and work being done in the community, please join the conversation on Facebook and Twitter. Inspira is proud to be the Official Health Care Partner of the Philadelphia Wings professional lacrosse team.
About Inspira Health
Inspira Health is a charitable nonprofit health care organization and a regional leader in physician training, with approximately 160 medical residents and fellows in nine nationally accredited specialty programs. The system, which traces its roots to 1899, comprises three hospitals, two comprehensive cancer centers, several multi-specialty health centers and a total of more than 150 access points. These include urgent care; outpatient imaging and rehabilitation; sleep medicine labs; cardiac testing facilities; digestive health and wound care centers; home care and hospice; and more than 30 primary and specialty physician practices in Gloucester, Cumberland, Salem, Camden and Atlantic counties.
Together with its medical staff of more than 1,300 physicians and other care providers, as well as more than 6,200 employees, Inspira Health provides evidence-based care to help each patient achieve the best possible outcome. Accredited by DNV Healthcare, the system’s clinical and support staffs are focused on providing quality care in a safe environment. For more information about Inspira Health, visit www.InspiraHealthNetwork.org or call 1-800-INSPIRA.