This message was emailed to all Ballad Health team members on Thursday, April 4, 2024, from Alan Levine, Ballad Health’s President and CEO.
Dear Colleagues:
One of the things I am most proud of is the quality of people who are part of the Ballad Health leadership. When you look at those who serve in leadership roles, many of them have been a part of the legacy Mountain States Health Alliance or Wellmont Systems for most of their careers, and have given tirelessly to contribute to our mission.
One such person is our Chief Financial Officer, Lynn Krutak. I have had the privilege of working with Lynn for nearly 11 years of her nearly 30 years of work for hospitals in our region, spanning from her time as a staff accountant for Indian Path Medical Center, controller at North Side Hospital, a multitude of roles with increasing responsibility within Mountain States Health Alliance, to her current role as chief financial officer of Ballad Health. During her tenure as Chief Financial Officer, Ballad Health achieved “A” credit ratings from all three national credit rating agencies – a first for either legacy system.
She successfully integrated the financial operations of two health systems, created a budgeting process which has been cited by the rating agencies as being reliable in terms of our execution of the budget plan, and importantly, has led us through complex audits from our independent auditors with virtually no material audit findings – something quite difficult to accomplish for an organization as complex as a health system. Most importantly, Lynn has been a key contributor to our leadership team, bringing a mature and compassionate perspective to our finance team’s role in serving our region. Lynn grew up in Kingsport, and she cares deeply about our region.
It is with incredible gratitude for Lynn’s service, combined with a personal sense of loss, that I announce Lynn’s decision to retire at the end of June.
So, it is with incredible gratitude for Lynn’s service, combined with a personal sense of loss, that I announce Lynn’s decision to retire at the end of June. Lynn shared her plans with me several months ago to spend more time with her husband, children and grandchildren, something she’s been looking forward to doing. The affection our entire team has for Lynn is infinite, and while she will ultimately be missed here, we are grateful that she will continue to be a part of our lives and our family.
One of our responsibilities as leaders is to continuously develop talent inside the organization as we plan for succession of key leaders on an ongoing basis. In the case of the CFO role, which is a critical role internally and externally, I am pleased to announce that Shane Hilton, who has been acting as CFO during some well-earned time off for Lynn, has agreed to serve permanently as our Chief Financial Officer. This decision comes with the input and support of several of our board members, who were gracious in spending their time to assist me with this decision. It also comes with the support of the senior management team, all of whom are excited about Shane’s potential as CFO.
Shane has been working in healthcare since 1991, when he served as a pharmacy technician at Holston Valley Medical Center. After a few years working as an accountant and finance director for a hospital outside the region, Shane returned to Mountain States Health Alliance/Ballad Health, where he has served for 24 years in roles from senior accountant; controller of regional financial operations; CFO of Washington County Operations; CFO of all Tennessee operations; CFO of operations for all hospitals within the system; CFO of corporate, retail and non-acute services; and ultimately, as acting CFO of Ballad Health. Shane has a Master’s Degree in Business Administration from King College, and a Bachelor’s in Accounting and business and economics from Milligan University. Outside of healthcare, Shane is a farmer, raising cattle and sheep on his farm.
Lynn has been working with Shane for several years in helping him develop into this role as she considered succession planning for her role. I know that you will enjoy working with Shane and will be as confident in his talent as I am.
Shane’s appointment as CFO is effective immediately. Lynn has graciously offered to work with Shane during the transition, and to help close out some projects she has been engaged in. Lynn will be with us through the month of June, and we will most definitely more formally celebrate her retirement before then.
Alan Levine
President & CEO, Ballad Health
