August 2009

Blye Resigns from Catholic Health Initiatives

08-09 Blye

Colleen Blye

Colleen Blye, executive vice president and chief financial officer, has resigned from CHI effective Oct. 2. As a member of the President’s Council with a requirement that included relocation to Denver, Colleen reached a critical decision about whether to relocate from the Philadelphia area. After thoughtful deliberation, she concluded that relocation was not in her best interest at this time.

Colleen has been with CHI since its inception in 1996, serving in leadership positions in finance. In 2005, she was named senior vice president and chief financial officer after serving in an interim role since 2004. In 2008, she was promoted to executive vice president, finance and integrated services. Before joining CHI, Colleen served as chief financial officer for St. Joseph Medical Center, Reading, PA, and as a member of the leadership team for the former Franciscan Health System, Aston, PA, one of the predecessor systems of CHI.

Under Colleen’s leadership, CHI experienced many accomplishments:

  • Maintained "AA" bond rating and sound balance sheet management.
  • Played a key leadership role in the recent turnaround of CHI’s financial performance through the development of effective criteria and process to achieve desired financial outcomes.
  • Restructured revenue cycle management to increase CHI’s efficiency and effectiveness for patient financial services.
  • Redefined the long-range financial planning and capital allocation processes, in collaboration with strategy leaders.
  • Developed compassionate, socially just policies and procedures for people who are uninsured and underinsured.
  • Presented successfully at the annual Non-Profit Investor’s Conference to tell CHI’s story of financial and investment management and growth.
  • Participated in socially responsible investing, such as the Direct Community Investments program, which provides low-interest loans to organizations that give disadvantaged populations access to jobs, housing, education and health care.

Susanna Laundy, vice president, financial management, has been appointed interim senior vice president and chief financial officer, effective Oct. 2. Colleen has agreed to remain with CHI on an interim assignment until Jan. 2, 2010, to assist with the launch of the recently approved revenue cycle management initiative, a top strategic priority. CHI will initiate a concurrent internal and national search for the position of SVP and CFO.