March 17, 2016
OCEANSIDE, Calif. – Tri-City Medical Center Chief Financial Officer Steve Dietlin has been named CFO of the Year for 2016 in the large business nonprofit category of the San Diego Business Journal’s prestigious annual CFO awards program.
“Mr. Dietlin made an immediate impact on Tri-City Medical Center’s financial wellbeing as CFO,” said Board Chair Jim Dagostino. “We are proud that his accomplishments here are being recognized and can be shared with our community.”
Having 25 years of successful experience in the healthcare industry Dietlin arrived at Tri-City Medical Center in early 2013, which was midway through the hospital’s fiscal year. In his first full fiscal year as CFO, he achieved remarkable results by restructuring existing debt with favorable terms resulting in a substantial decrease in debt service. He also succeeded in extending the term of a significant loan facility to allow the hospital the time needed to pursue alternative financing sources. Dietlin applied his attention to detail and considerable experience managing healthcare audit teams to successfully complete the hospital’s 2013, 2014 and 2015 year end financial audits without adjustment.
In his role as CFO, Dietlin managed hospital net revenue approaching $350M resulting in an EBITDA excess of $20M. He led a bottom line turnaround in excess of $15M along with liquidity improvement.
Existing lender relationships have been improved and new lender relationships have been forged and maintained in good standing. Revenue cycle improvements have been remarkable and the integrity of the financial statements has been restored.
About Tri-City Medical Center
Tri-City Medical Center has served its community for over 50 years and is a 397 bed full service, acute-care hospital in Oceanside, Calif. with a primary care clinic and over 700 physicians practicing in 60 specialties. Its Gold Seal of Approval® from the Joint Commission recognizes its commitment to safe and effective patient care for the residents of the community it serves. It operates the only Level III Neonatal Intensive Care Unit (NICU) in North County as well as an Orthopaedic & Spine Institute, a Cardiovascular Health Institute and a Neuroscience Institute along with the Tri-City Wellness Center in Carlsbad, Calif., recognized as one of the best wellness centers in San Diego County. It also specializes in women’s health, robotic surgery, cancer and emergency care. Tri-City Medical Center has received its fifth consecutive “A” rating from the national hospital safety scoring organization, The Leapfrog Group.
For more information about Tri-City Medical Center and Tri-City Healthcare District, please visit www.tricitymed.org.