Ballad Health’s Lynn Krutak named Modern Healthcare’s prestigious ‘10 Women Leaders to Watch’ national list
Lynn Krutak, chief financial officer for Ballad Health, has been selected to the prestigious 2019 “10 Women Leaders to Watch in Healthcare” list announced by Modern Healthcare.
The publication is a leading source of healthcare business and policy news, research and information across the nation. Each year it selects a list of “Top 25 Women Leaders,” accompanied by a list of “10 to Watch.” Krutak was selected among those 10 to watch – described as accomplished, rising women executives who are advancing healthcare.
See Krutak and all the winners in the Feb. 18, 2019, print issue of Modern Healthcare, or ModernHealthcare.com/topwomenexecs.
The biennial recognition program honors the top women healthcare executives who are influencing policy and care delivery models across the country. In doing so, the program also highlights the continued need to nurture diversity in the healthcare industry.
Krutak played a key role in the merger of Wellmont Health System and Mountain States Health Alliance to become Ballad Health. Her work was especially notable due to the complex nature of the merger itself, which required approval by two states.
Once the merger was accomplished, Krutak was a driving force in Ballad Health’s ability to receive a credit rating upgrade from Fitch and S&P Global Ratings – and more recently an improved outlook to positive from Moody’s – at a time when the national forecast for the healthcare industry was a downgrade. She also oversaw the consolidation and refinancing of the debt of both legacy health systems – which is expected to save Ballad Health about $20 million per year in debt payments. As a not-for-profit organization, Ballad Health will reinvest those savings into the provision of healthcare services in the region, including capital investments and facility improvements totaling more than $60 million this year alone.
“Not only is she a leader locally and nationally, she has made it a priority to identify and develop other women within the organization,” said Alan Levine, CEO of Ballad Health and chair of the Ballad Health board of directors. “We are especially proud that women serve as CEOs for nearly half of Ballad Health’s hospitals and believe the diversity in perspectives, skills and experiences of our leadership team is critical to our ongoing success.”
Krutak was born and raised in Kingsport, TN and has been in the Tri-Cities healthcare industry since 1995, serving in various positions including chief financial officer for Johnson City Specialty Hospital, vice president/CFO for Blue Ridge Medical Management, and senior VP/CFO for Mountain States Health Alliance. She is a Certified Healthcare Financial Professional through the Healthcare Financial Management Association and serves on the advisory board for East Tennessee State University’s College of Business and Technology. She is also on the Healthcare Advisory Board for PNC Bank.
