Introducing Kevin F. Gallagher, Chief Financial Officer
Kevin F. Gallagher joined Sovereign Health Group on March 22 as the company’s chief financial officer (CFO). With an MBA from Farleigh Dickinson University, he has over three decades of financial and operational managerial experience, including a decade as the CFO and COO of a Los Angeles-based distributor of health and wellness products. He also held financial executive positions at Nestle USA, Inc. and Witco Chemical Corp. We spoke with Mr. Gallagher at his office at Sovereign Health, San Clemente, California.
My role as chief financial officer
My position as Sovereign Health Group’s CFO extends beyond just handling finances. This multidimensional role virtually involves working with every aspect of the organization and understanding what their needs and goals are. It eventually comes down to how these various goals are prioritized, ensuring that the needs of each little piece of the organization are being funded and accommodated to yield the maximum benefit.
To ensure that we are maximizing our revenues and investing properly in both our present and our future, we have to watch our expenditures carefully in order to have them aligned with our objectives at all times.
The intelligence of operations at Sovereign is highly impressive. I’ve found here a very customer-centric atmosphere, both with the management and the staff. People, patients and profitability – the three P’s of management – have been instilled into the DNA of operation.
An insider’s guidance
The insider guidance that I can provide comes from my varied amount of experience in running both very large and small organizations. This boils down to one crucial element: Always be smart about keeping the long-term mission in sight. We can never afford to lose perspective of the ultimate goal and the bigger picture. Our mission lies in doing good. We are ultimately here to provide the highest level of care for every patient, and we have to ensure that each and every step that we take aligns with this.
There is, however, a discipline that goes into this process. Every decision has an associated monetary aspect. Hence, our ability to prioritize and utilize financial disciplines needs to be directed toward the betterment of the operations: growing at a rate that the organization can sustain, expanding the staff and increasing the number of beds so that it all leads to a logical progression of growth.
The perpetual passion
I’ve thoroughly enjoyed every position that I’ve ever had, whether it was working in factories as a teenager or handling finances for BBJ Global and Nestle. I’m fairly driven to make a difference, doing things to do them better.
Ultimately, being in an industry that helps people in need, it’s not only the satisfaction of a job well done for me, but also the fact that we are assisting people. Over the course of time, I’ve had the opportunity to talk to many parents and family members of the patients and unequivocally the message is always that of gratitude for what we did for the patients.
Being in an industry where our “final product” is a highly valued and functional member of the society, there is nothing more valuable, and our mission speaks very highly of that.
My top three priorities for Sovereign in 2016
- Sharma and the Sovereign team have done an amazing job of identifying 2016 and 2017 growth opportunities. I look forward to working alongside Business Management and Strategic Development to finalize these opportunities and fully integrate them into the Sovereign organization.
- The infrastructure and reporting needs of Sovereign have evolved greatly as the organization has changed and grown. A second priority is to fortify the Finance Department as a timely, accurate source of business and industry data and turn that data into reliable decision-making tools for Sovereign management.
- Any industry leader needs a network of banking and financial partners to support the projects that fulfill the organization’s mission and vision. Throughout the upcoming months, it is a priority to build Sovereign’s relationships within the financial community.
A message to the Sovereign team
As we are expanding, we are getting bigger and better. I say this because I do not believe that you can get bigger without being better. This ultimately goes back to our goal of providing the best level and quality of care. As the day-to-day pressures accumulate for each one of us, we need to focus more and more on our mission. That’s essentially where Sovereign’s strength lies.