Travis Crum, senior vice president of finance at Bon Secours Mercy Health, will take on the CFO role beginning July 1, the Cincinnati-based health system said Monday.
Crum has worked at the nonprofit Catholic health system for 14 years. He worked in a variety of roles, including as assistant controller and corporate controller for Mercy Health, before the system merged with Bon Secours Health System in 2018 to create BSMH.
As SVP of finance, Crum leads accounting and financial reporting, budgeting and forecasting, and capital planning for the 49-hospital system, according to the release.
Crum will replace Debbie Bloomfield, who will retire at year’s end after more than three decades with BSMH. Bloomfield will begin transitioning duties to Crum this summer, the system said.
Bon Secours Mercy Health generated over $11 billion in revenue in fiscal year 2022, according to an October credit ratings report from Moody’s Ratings.
Moody’s downgraded the health system’s long-term bond ratings from stable to negative, citing its “modest performance” coupled with high capital spending, which was forecast to result in declining cash and higher leverage.
The ratings agency said BSMH could improve its long-term outlook by reducing its leverage and increasing its cash flow margin, as well as diversifying business lines and geographic locations.
