Padgett Honored as Crain’s CFO of the Year for Healthcare
Francine Padgett, senior vice president and treasurer for MidMichigan Health, has received the Chief Financial Officer (CFO) of the Year Award for Healthcare by Crain’s Detroit Business. Padgett will receive the award on June 12, 2012, at the Crain’s CFO of the Year Awards and Summit in Plymouth.
Padgett was selected by a panel of judges who chose recipients based on professional achievements in solving financial and operational problems, expanding business and creating new business.
“Francine is unique. It is very rare to find high intelligence, exceptional caring and thoughtfulness, good business sense and an unbelievable work ethic all in one person,” said Rick Reynolds, president and CEO of MidMichigan Health. “She is an exceptional executive and serves as an inspiration for others. MidMichigan Health is truly fortunate to have her as one of our leaders.”
Padgett has worked at MidMichigan Health since 1990. Previously, she was a senior manager at Deloitte and Touche. She oversees all MidMichigan Health finance and internal audit functions and is the senior vice president overseeing MidMichigan Regional Imaging, a magnetic resonance imaging venture.
Currently, Padgett’s focus at MidMichigan Health is implementing a Corporate Performance Management (CPM) Office. This task involves business intelligence, performance monitoring, and technology to improve actions and outcomes. Focus of CPM teams aligns with the strategic initiatives of MidMichigan Health and can be financial, operational, organizational or clinical.
Beyond financial expertise, one significant accomplishment Padgett has made has been teaching and role modeling project and change management competencies. She designed an employee-based project management/change management practice with training, designated principles, corresponding templates and tools which guide internal decision making.
Padgett earned a bachelor’s degree from the University of Missouri in 1975 and a Master of Business Administration degree with high distinction from the University of Cincinnati in 1978. She is a certified public accountant and a fellow in the Healthcare Financial Management Association. She is a member of several MidMichigan Health boards and committees, as well as the Caymich Finance Committee and Northwood University Accounting Advisory Board. She resides in Saginaw with her husband. The couple has two grown children.
MidMichigan Health is a non-profit health system, headquartered in Midland, Mich., dedicated to providing quality, comprehensive health care throughout the middle of Michigan and beyond. It covers a 14-county region with medical centers in Midland, Alma, Clare and Gladwin, as well as urgent care centers, home care, nursing homes, physicians, medical offices and other specialty health services. MidMichigan has more than 6,500 employees, physicians and volunteers and provided $75.5 million in community benefits in fiscal year 2011.
Those who would like more information on MidMichigan may visit www.midmichigan.org.