Senior Vice President, Finance, and Chief Financial Officer
Rush University System for Health and Rush University Medical Center
John Mordach provides strategic vision and management for the fiscal direction of Rush University Medical Center and the Rush system. This work includes responsibility for the protection of assets, treasury function, hospital revenue cycle, financial reporting, internal audit, financial planning and budgeting. In addition, he serves as a board member and the treasurer of Rush Health, the system’s physician-hospital organization, and chairman of its Finance Committee.
Mordach brings to these roles more than 38 years of health care financial management experience, including service as CFO of two other urban academic medical centers prior to joining the Medical Center in March 2011. He became system CFO in 2017.
During his tenure, the Medical Center has achieved strong operating results, including the highest operating income year in its history in fiscal year 2018. In his eight years at Rush, the organization has attained six rating upgrades and six outlook improvements from Moody’s, Fitch and Standard and Poor’s.
Most recently, in December 2018, Rush University System for Health was upgraded to a AA- rating, the first AA rating in Rush’s history. In January 2015, the system refinanced approximately $500 million of debt in order to reduce interest costs and amend its terms and conditions, resulting in present value savings of $92 million.
In addition, Mordach has streamlined operations and financial decision-making, including reorganizing the corporate finance function; forming a single business office; consolidating of financial operations between Rush University Medical Center and Rush Oak Park Hospital, resulting in improved efficiencies; and redesigning the pension plan, lowering expenses by approximately $5 million a year. He has overseen multiple asset monetization initiatives, implementation of an organization-wide operating and capital budget system, and, most recently, an enhanced retirement opportunity initiative to reduce labor costs.
In 2015, Mordach was named ‘Chicago CFO of the Year’ by the Financial Executives International Chicago Chapter in the not-for-profit large company category.
Prior to joining Rush, Mordach served in a variety of senior executive leadership roles, including Loyola University Health System, Edward Health Services, the University of Chicago Hospitals and Health System and Tufts New England Medical Center.
Mordach holds a bachelor’s degree from Merrimack College in North Andover, Massachusetts, and an MBA from the University of Chicago Booth Graduate School of Business. He also holds a CPA.
He is a member of the Economic Club of Chicago, the Chicago Club, and The Health Management Academy.