The University of Maryland Medical System today announced that Henry “Hank” J. Franey will transition from his role as the system’s executive vice president and chief financial officer to senior adviser to the president and chief executive officer effective March 2019.
Michelle Lee, currently senior vice president of corporate finance and system controller, is being promoted to chief financial officer, also maintaining her senior vice president title.
Franey, a financial management expert with more than 40 years of experience in the health care sector, has served in senior leadership positions at the University of Maryland Medical Center and UMMS since 1992. His current responsibilities include all of the system’s financial services, including strategic financial and capital planning, investment and debt management, rate setting and reimbursement and financial reporting. Prior to joining UMMC/UMMS, Franey was a health care consulting partner in the Baltimore office of the international accounting firm of KPMG.
A certified public accountant, Franey earned a Bachelor of Science degree in business administration from Towson State University, and a Masters of Business Administration in finance from Loyola College in Maryland. He serves on the Board of Directors for UM Baltimore Washington Medical Center, UM Upper Chesapeake Health and UM Capital Region Health.
He is a past president of Maryland’s Healthcare Financial Management Association as well as current Board Chairman of the Living Legacy Foundation. During his tenure, the medical system’s annual revenue base has increased from $400 million to $4.5 billion.