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Sinai Hospital Hires
Jerry Bass As CFO

RUTH LITTMANN STAFF WRITER

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(810) 642-7710

H-

34

Effective August 1, 1994

barged with the job of han-
dling the dollars and cents
of medicine, Jerry Bass
has his work cut out for

him.
Sinai Hospital recently hired
Mr. Bass, 46, as executive vice
president of finance and chief fi-
nancial officer for Sinai Hospital.
He replaced Jan Gardener,
who left in March, at the end of
her two-year contract, to pursue
other interests.
Sinai is a $250 million non-
profit corporation and the only
Jewish hospital in the metropol-
itan area. After experiencing a
critical downturn in the early
1990s, it reported record rev-
enues last year.
Chief Executive Officer Phillip Jerry Bass: Sinai CFO.
Schaengold recruited Mr. Bass
whom he believes will keep Sinai therefore, will not profit from dis-
pensing more treatment than
on the upswing.
"We were looking for a CFO necessary.
The changes will force medical
with extensive experience in a
managed care marketplace, professionals to do more thorough
someone who also was an entre- cost-benefit analyses before dis-
preneur in his approach to de- pensing treatment, Mr. Bass pre-
veloping new programs," Mr. dicts.
Currently, Sinai receives fixed
Schaengold said.
Mr. Bass served as CFO for reimbursements for 80 to 85 per-
Northwest Hospital in Seattle, cent of its patients. The percent-
Wash., an arena of managed age is likely to increase in the
care. Medical institutions there future.
"At some point, we're all going
are going through a period of
"merger mania," Mr. Bass says. to share that same amount of
"Everyone's trying to figure out money," he said.
Mr. Bass has reservations
what they will become."
A native of Washington, D.C., about President Bill Clinton's
Mr. Bass received a bachelor's de- plan of health reform and others
gree in accounting from the Uni- like it. He says such proposals ini-
versity of Maryland. He later tially will cut waste, but will
earned his CPA and worked for eventually require rationing of
the international accounting firm services.
"If you like our public schools,
Arthur Andersen.
Mr. Bass' responsibilities at you're going to love our socialized
Sinai include shepherding the in- medical system," he said.
Though Sinai is anticipating a
stitution through impending
health-care reforms. He predicts decrease to the $13.2 million in
this will entail cost-cutting, a po- net revenues during fiscal year
tential sore point between hospi-
tal • administrators and
"I think there's a lot
physicians.
"We have to take care of pa-
of waste in health
tients more cost-effectively and I
think it's do-able," he said. "I
care. 95
think there's a lot of waste in
— Jerry Bass
health care today. We can reduce
cost without reducing the quali-
ty of care."
"Physicians historically order 1993, Mr. Bass believes the hos-
more tests and X-rays than are pital has taken the right track by
necessary for appropriate patient developing satellite offices in the
care. Some of that is due to the suburbs.
Later this summer, Mr. Bass
fear of malpractice. But most of
it is due to the lack of economic will settle in West Bloomfield
with the rest of his family: wife,
incentives."
Those incentives are changing, Ann; and two children, Gabe, 17,
he said. Increasingly, third-par- and Deborah, 14. In addition to
ty payers reimburse doctors and his professional expertise, Mr.
hospitals on a fixed, rather than Bass brings with him a long list
fee-for-service, basis. Providers, of Jewish volunteerism. ❑