Advocate Health announced Tuesday that it has promoted its interim chief financial officer, Brad Clark to executive vice president and full-time CFO.
The promotion will take effect on Dec. 1.
In his new role, Clark will oversee revenue cycle management, financial planning, supply chain management, financial reporting, accounting, treasury, and managed health resources. He will join Advocate Health’s executive leadership team and report directly to CEOs Eugene A. Woods and Jim Skogsbergh.
Advocate Health is the parent company of Advocate Aurora Health and was created by the merger of AAH and North Carolina-based Atrium Health in late 2022. The company operates as Aurora Health Care in Wisconsin.
Clark, who was named interim CFO in August and previously led Advocate Health’s treasury and financial and planning analytics division, brings more than two decades of experience in comprehensive health care financial management to his new position, Advocate said.
“As a veteran financial leader in our organization, Brad brings the expertise and skill to move Advocate Health forward, helping us to transform health care and create a better future for each of the communities we serve,” Woods said. “Brad will be a key player in our continued growth and sustained commitment to making health care more accessible, affordable and innovative for the nearly 6 million patients we serve across six states.”
Prior to serving as Advocate Health’s senior vice president of financial planning and treasury, Clark was executive vice president and CFO of Atrium Health Wake Forest Baptist. In this role, he oversaw all financial functions for the academic medical center and health system, including accounting and financial reporting, investment and treasury management, capital and debt structure, budgeting, financial planning and analysis, revenue cycle, payer relations and contracting, procurement, and facilities and real estate.
“I’ve always been proud to work for a mission-driven organization and am honored to be chosen to lead Advocate Health’s financial operations,” Clark said. “As a health system with preeminent clinicians, an impressive geographic footprint and an industry-leading track record in community benefit spending, Advocate Health is poised to redefine how, when and where care is delivered. I look forward to working with the rest of the executive team to drive forward our vision of what is possible.”
Before becoming Wake Forest Baptist’s CFO, Clark served as the system’s vice president of treasury, with responsibility for investment management, debt management, real estate finance and capital capacity analysis. He was also the primary liaison to bank partners, rating agencies and investors.
Clark received a bachelor’s degree in finance from Appalachian State University and an MBA from Wake Forest University. As CFO of Advocate Health, he succeeds Anthony DeFurio, who resigned for personal reasons earlier this year.
