Johns Hopkins Health System Financial Leader Announces Retirement at Year’s End
Stuart Erdman, whose career as a finance leader at The Johns Hopkins Health System spans more than 32 years, has announced plans to retire at the end of 2013. Erdman is assistant treasurer and senior director of finance for the health system, where he oversees capital financing, cash management and compliance with Medicare and Medicaid reporting requirements. He also represents the health system hospitals in negotiations with the state’s rate setting agency, the Health Services Cost Review Commission (HSCRC).
“Stu Erdman has played a major role in the financial health of the Johns Hopkins Health System for many years, and we are grateful for his dedication and service to our organization,” says Ronald R. Peterson, president of The Johns Hopkins Hospital and Health System and EVP, Johns Hopkins Medicine. “Stu has also been influential in shaping major policies adopted by the Maryland Hospital Association and the HSCRC, and has established many relationships that benefit JHHS. In that way, he has had an impact on hospitals and health care throughout Maryland.”
Erdman first worked at The Johns Hopkins Hospital from 1971 to 1977 as an accountant and assistant controller. After serving in positions at two other Maryland hospitals, he returned in 1987, when The Johns Hopkins Health System Corporation was formed.
“Stu has been a major contributor to the success of the finance department for many years,” says Ronald Werthman, senior VP of Finance, CFO and treasurer of the Johns Hopkins Health System. “He has provided leadership, training, mentoring and friendship to all. He will be missed, and his legacy will be long-lasting.”
In addition to his finance leadership at Johns Hopkins, Erdman has served as president of the Healthcare Financial Management Association and as board chairman of the Helping Up Mission (HUM). He coordinated an initiative that linked outpatients being treated at Johns Hopkins for substance abuse with a job placement program coordinated by HUM—an effort that was beneficial to both organizations while addressing a serious issue in the community.
After he retires on Dec. 31, 2013, Erdman will continue to be a resource to Johns Hopkins leaders on a limited basis to provide financial advice on capital planning, debt financing and rate regulation issues.
Erdman’s operational responsibilities will be assumed by Tom Trzcinski, director of treasury services, and Ed Beranek, director of regulatory compliance. Both will become senior directors.
Trzcinski, who has worked in finance at Johns Hopkins since 1985, has guided the formation of a full-scale treasury services department as well as the integration of acute-care hospitals and other supporting organizations that have become part of the health system. He currently serves as a member of the Investment Committee of the United Way of Central Maryland and is on the board of directors of numerous local foundations. Trzcinski holds a bachelor’s degree in business administration with a concentration in accounting from Loyola University in Maryland.
Beranek is responsible for the hospital system’s revenue budget and all regulatory matters involving the HSCRC. He represents the health system on several Maryland Hospital Association work groups and task forces of the HSCRC.
Over the course of his 20-plus years in health care, Beranek has served in various analyst and managerial roles, both in the hospital setting as well as in consulting. He began working at Johns Hopkins in 1989 in the department of pediatrics and moved to the finance department two years later, where he has spent the majority of his career. He holds a bachelor’s degree from Loyola College in Maryland with a concentration in management information systems and received an MBA from the University of Baltimore.
“Stuart’s shoes will be very hard to fill,” says Werthman. “We are fortunate that both Tom and Ed bring tremendous expertise and experience to our department so that Stuart’s excellent stewardship of our treasury and finance functions will continue.