Steven Leonard, Ph.D., MBA, FACHE, President/CEO of Peninsula Regional Health System and Peninsula Regional Medical Center (PRMC), today announced the promotion of Bruce Ritchie to Senior Vice President of Finance and Chief Financial Officer (CFO) of the Peninsula Regional Health System. Ritchie has served as the Vice President of Finance/CFO for both the medical center and health system since 2007, and has provided executive-level leadership for areas including general accounting, patient accounting, credit and collections, payroll, accounts payable, admitting, outpatient registration, budgeting, cost accounting and reimbursement.
“Bruce has been an exceptional member of the Executive leadership team for several years. Since 2007, his leadership of the finance division and contributions to our strategy have led to the growth and stability of the system, ensuring we continue to meet the community’s healthcare needs,” said Leonard. “Over the last two years, we have been involved in significant efforts to integrate and form a regional healthcare system with Nanticoke Health Services and the McCready Foundation, and Bruce has been instrumental. We are fortunate to have Bruce on the team and congratulate him on this promotion.”
Ritchie joined PRMC in 1994. He has supervised and coordinated a number of finance department areas and activities at the manager, director and VP levels. With more than 35 years of healthcare experience, he is Peninsula Regional Health System’s primary expert on reimbursement issues and responsible for all treasury functions.
He has held a number of leadership roles and been a member of multiple committees with both the Maryland Hospital Association and the Maryland Health Services Cost Review Commission (HSCRC), the agency that sets the rates Maryland hospitals can charge for their services. He is considered to be one of a very few experts in the state on HSCRC methodologies.
A certified public accountant, Ritchie also holds a BS in Accounting from Rider University in Lawrenceville, New Jersey. He is a member of the American Institute of Certified Public Accountants and the Healthcare Financial Management Association. Ritchie and his wife, Robin, have two adult children.