Henry Franey, a financial management expert with more than 30 years of experience in the health care sector, has been named senior vice president and chief financial officer for the University of Maryland Medical System (UMMS), a network of nine academic, community and specialty hospitals across Maryland.
Since 1992, Franey has been senior vice president and chief financial officer for the University of Maryland Medical Center, the academic medical center in downtown Baltimore, comprised of University Hospital, University of Maryland Greenebaum Cancer Center, University of Maryland Hospital for Children, the RA Cowley Shock Trauma Center, and other services.
In his new role, Franey will be responsible for all of the Medical System’s financial services, including strategic financial and capital planning, investment and debt management, rate setting and reimbursement, and financial reporting.
“Hank Franey is a strategic thinker with outstanding financial and management skills,” says University of Maryland Medical System President and Chief Executive Officer Robert A. Chrencik. He has a thorough understanding of our medical system and his continued leadership and insight will be extremely valuable as we work to meet the challenges of the future.”
Prior to joining the University of Maryland Medical Center, Franey was a healthcare consulting partner in the Baltimore Office of the international accounting firm of KPMG. A certified public accountant, Franey earned a B.S. degree in business administration from Towson University, and an M.B.A. in finance from Loyola College in Maryland. He has served on the National Advisory Council of the Healthcare Financial Management Association and is a past President of the Maryland Chapter.
The University of Maryland Medical System includes the University of Maryland Medical Center, Kernan Orthopaedics and Rehabilitation Hospital, University Specialty Hospital, Maryland General Hospital, Baltimore Washington Medical Center, Shore Health System (Memorial Hospital at Easton and Dorchester General Hospital), Chester River Health System and Mt. Washington Pediatric Hospital, which is owned in partnership with the Johns Hopkins Health System.
As the third-largest private employer in the Baltimore metro area, the University of Maryland Medical System generates nearly $3.5 billion in economic activity in Maryland and has $2.1 billion of operating revenues. The medical system employs 14,800 people, has more than 1,700 licensed beds and 83,000 annual admissions.