Russ Ranallo is replacing former CFO Jeff Thomas who assumed the role in June of last year.
Owensboro Health has named Russ Ranallo—who has been serving as the nonprofit healthcare system’s vice president of finance since 2005—as its new chief financial officer, effective immediately.
"To have the opportunity to serve in this role is truly a dream come true," Ranallo said in a press release announcing his new position. "My goal is to make healthcare more accessible to the patients, team members, and communities that we serve each day."
Ranallo is replacing former CFO Jeff Thomas who assumed the role in June of last year. In his new position, Ranallo will report to President and CEO Mark Marsh and will be responsible for the system’s financial strategy. His areas of focus include budgeting and payroll, facilities management, IT operations, and accounting systems. He will also assist Marsh in developing a vision for the system and meeting both short-term and long-term objectives.
In his role as VP of Finance, Ranallo helped finance the construction of Owensboro Health Regional Hospital. This $385 million project was the largest in the system’s history. The nonprofit healthcare provider has 352 staffed beds and sees an average of 16,000 inpatient admissions, 70,000 emergency department visits, and 24,000 surgical procedures each year.
"Russ has enjoyed a long, successful career at Owensboro Health and has played a pivotal role in achieving some of our biggest milestones," Marsh said. "With his experience and track record of success, Russ is the ideal fit for this position, and his expertise will be vital as we build exciting plans for the future."
Amanda Schiavo is the Finance Editor for HealthLeaders.