Todd Dougan

Todd J. Dougan

Chief Financial Officer at Wellmont Health System

Location:
1905 AMERICAN WAY, Kingsport, Tennessee, United States
HQ Phone:
(423) 230-8200

General Information

Experience

Certified Public Accountant  - PricewaterhouseCoopers LLP

Consultant  - Murray-Calloway County Hospital

Education

bachelor's degree  - University of Evansville , Ind.

Recent News  

Todd Dougan, chief financial officer

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. [caption id="attachment_1572" align="alignright" width="237"] Todd Dougan[/caption] By Jeff Keeling Whatever one might choose to call it - a burr in the saddle, [caption id="attachment_1572" align="alignright" width="237"] Todd Dougan[/caption] By Jeff Keeling Whatever one might choose to call it - a burr in the saddle, Rating: 0
. [caption id="attachment_1572" align="alignright" width="237"] Todd Dougan[/caption] By Jeff Keeling Whatever one might choose to call it - a burr in the saddle, [caption id="attachment_1572" align="alignright" width="237"] Todd Dougan[/caption] By Jeff Keeling Whatever one might choose to call it - a burr in the saddle, Rating: 0 Todd Dougan Todd Dougan The change is paying off big time, Wellmont CFO Todd Dougan says, both for Wellmont's bottom line and for the patients who may have fallen into the observation camp before but whose conditions instead warranted inpatient status. "We're estimating that it has added about $700,000 a month in net revenue, which is about 0.6 percent on margin," Dougan says. And once the private insurance companies saw what was going on, they jumped on the bandwagon, Dougan says. A smaller reimbursement for the hospital, a bigger bill for grandma If a decline from 37 percent of "patients in a bed" being of observation status in quarter one 2016 (July-September 2015) to 29 percent in quarter one 2017 yields roughly $2.5 million in additional net revenue, it's pretty easy to deduce what kind of revenues were being left in the hands of payers as those percentages climbed from 27 percent in fiscal 2013 to 35 percent three years later. The system was missing out on $5 to $10 million a year in revenue at a time when other pressures were making things hard enough, Dougan says. "The problem from a margin perspective is we are taking care of our patients and they are in an exact same bed and being taken care of by the same great people, and their status as inpatient or observation is entirely dependent on the whims of the payers." On top of that, observation status - even if it lasts for several days and involves expensive treatment - was a financially burdensome scenario for Medicare patients. "The deductible or copay... generally it's a higher copay or deductible if they're in an outpatient setting than an inpatient setting. (Part B as opposed to Part A)," Dougan says. "They're going to have that patient pay more of their bill as an outpatient." Perhaps more importantly, particularly as it relates to Medicare patients, observation patients usually don't qualify for skilled nursing care. "They generally have to have three days of pure Medicare (Part A) in inpatient stay," Dougan said. "That was one of the major operational points, and we just decided to start billing for the services in the fashion and using the medical records that we believe in and basically not using what the insurance company says," Dougan says. "Their sole purpose is to work in the (emergency department) with the ED doctors to document that patient's condition when they arrive," Dougan says. The full implementation of EPIC as Wellmont's electronic medical record system has helped, too, as staff can input paramedics' reports into the system in real time. "All of that provides a better medical record, and it shows, really, did that patient meet that criteria as an inpatient, or are they truly observation. We still have a fairly good number of patients who are observation," Dougan says, adding that the recommended industry standard is around 25 percent. "We're not trying to change the rules, we're just documenting and we're going to enforce the rules." It's business So far, though the payers have challenged some of the calls, "they're not denying everything," Dougan says. The numbers are looking even better midway through the second quarter, Dougan says. "This is the unfortunate part of health care in the U.S," Dougan said.

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Todd Dougan
Dougan named Wellmont's interim CFO Contributed To The Press • Yesterday at 4:05 PM KINGSPORT - Todd Dougan, a 34-year finance professional who has worked for 23 years in health care, has been selected as interim chief financial officer for Wellmont Health System. Dougan will assume this position effective April 23 and succeed Alice Pope. Bart Hove, Wellmont's president and CEO, said the transition will be smooth because Dougan has served as the organization's senior vice president of finance for 10 years. In that position, Dougan is a member of the executive leadership team and plays an integral role in ensuring Wellmont is on solid financial ground. "Todd is an outstanding financial leader who has demonstrated extraordinary skill and integrity in his stewardship of our finances," Hove said. Dougan is the primary day-to-day contact with Wellmont's lenders, bondholders and ratings agencies. The health system regularly interacts with these entities and recently learned Standard and Poor's Ratings Service and Fitch Ratings had reaffirmed Wellmont's BBB+ bond rating. "My career with Wellmont has been fulfilling and provided me with wonderful opportunities to work on innovative approaches to health care that have further advanced our organization," Dougan said. "We have set a high bar, and everyone's efforts have enabled us to attain impressive heights in the delivery of high-quality care for our patients. As we take the next steps to continue our progress, I am thankful to have a strong financial team working behind the scenes with me to help ensure our success." Prior to joining Wellmont, Dougan served as chief financial officer within Hospital Corporation of America and Columbia/HCA Healthcare Corp.; chief financial officer and treasurer for the Trover Clinic Foundation in Madisonville, Kentucky; a consultant for Murray-Calloway County Hospital in Murray, Kentucky; and interim chief financial officer for St. John's Regional Medical Center in Joplin, Missouri. A certified public accountant, Dougan began his career at Price Waterhouse, rising to manager and senior manager of the auditing and business advisory firm. Dougan is a member of American Institute of Certified Public Accountants and the Healthcare Financial Management Association. Previously, he co-founded the Hopkins County Community Clinic in Madisonville and served as co-chair of the American Cancer Society's Relay for Life Committee in Hopkins County. He has a bachelor's degree in business administration from the University of Evansville. Roger Leonard, chairman of Wellmont's board, said the selection of Dougan as interim CFO is a textbook example of good succession planning.

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