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A Philadelphia native, Mr. O’Donnell received his Bachelor of Arts in Accounting from DeSales University and a Master of Arts from Drexel University. He then found his way to Long Island upon graduation for college when he worked for KPMG servicing health care clients. This career path led to O’Donnell’s initial contact with Peconic Bay Medical Center (PBMC), formerly and at the time, Central Suffolk Hospital.
The economic recession that began in 2008 continued to press against revenue constraints, and strengthening the financial position of the hospital remained an important management task. By 2012, through O’Donnell’s leadership, PBMC carefully selected a new bank partner that enabled an affordable financing and refinancing of the healthcare facility. Then in 2013 PBMC redesigned the organizational structure and identified actions to reduce the budget by $5 million and implement measures to help control expenses. Concurrently, the hospital pursued an aggressive growth strategy through expanding services and patient care flows making PBMC a destination hospital, which is evidenced by the recent opening of The Gertrude and Louis Feil Campus for Ambulatory Care in Manorville. With the combination of proactive growth strategies, aggressive negotiations and O’Donnell’s financial acumen, PBMC was able to double its revenue in the seven-year period, from 2006 – 2012
In addition to his responsibilities at PBMC, O’Donnell has served as the chief negotiator for the East End Health Alliance since its inception. As part of his role, he negotiated the managed care contracting and negotiated critical rate increases necessary to sustain the viability of the three East End member hospitals.
Andrew J. Mitchell, President and CEO of PBMC Health said, “Mike and I have worked together for more than a decade. During that time, we have grown from a community hospital into a vibrant health system because of Mike’s fiscal responsibility, persistence and vision. In the beginning, times were tough, and without Mike’s resolve to come up with creative solutions to problems, we would not be where we are today as an organization. On behalf of the entire Senior Leadership team, we wish to congratulate Mike and are thrilled that he is being acknowledged for his hard work and dedication.”
