Tufts Medical Center announced Kristine M. Hanscom, CPA, MST, CGMA has been named senior vice president and chief financial officer. Hanscom, an experienced executive and leader with an impressive resume of accomplishment and achievement in the finance field, held the title of interim CFO since Nov. 24, 2015. She previously served as Tufts MC’s vice president of finance since 2008.
“Kristine’s exceptional performance in the interim role and her long track record of excellence during her entire tenure at Tufts MC make her the ideal choice to lead our financial enterprises for many years to come,” said Michael Wagner, MD, president and CEO of Tufts Medical Center. “She possesses a clear, strategic vision and a unique ability to identify new and innovative ways to increase revenues and reduce expenses, while staying true to our clinical, research and teaching mission. I have great confidence in the security and potential of the Medical Center’s financial prospects in her capable hands.”
During her seven years as Tufts MC’s vp of finance, in which she oversaw 250 people in more than a dozen different departments, Hanscom played a vital role in senior leadership and business development, providing guidance for key strategic decisions on business investments. She was instrumental in the preparation for Tufts MC’s bond issue in 2011, resulting in the Medical Center’s first uninsured investment-grade bond rating, which raised $210 million, $100 million of which was used to finance capital projects. Hanscom also spearheaded a three-year project to ensure a seamless transition to ICD-10, the new medical billing codes, which took effect in October 2015. In addition, she oversaw the redesign of the finance department, revamping and revitalizing key areas to better support managers and directors with crucial financial information, and establishing new processes to more effectively spend and invest the Medical Center’s financial assets.
“It’s a tremendous honor to be the steward of Tufts Medical Center’s financial health,” said Hanscom. “The era of health care reform demands that we adapt and evolve and find fresh and creative methods for being efficient and effective. I look forward to working closely with Dr. Wagner to focus our goals and best position Tufts MC to be financially strong in a challenging marketplace.”
Hanscom first joined Tufts Medical Center in 2003 as corporate controller, following eight years in public accounting and an additional eight years at Hallmark Health Corporation, where she served as manager of accounting (1995-2001) and director of financial reporting and accounting (2001-2003). After serving as corporate director of financial reporting for direct marketing company Orchard Brands Corp., Hanscom returned to Tufts MC as the vice president of finance in September 2008. During the subsequent seven years, she proved her capability, versatility and flexibility, twice assuming the role of interim CFO (November 2008-August 2009; November 2015-March 2016) and serving as interim chief compliance and privacy officer (July, 2014-November, 2015).
Hanscom completed her bachelor’s degree in Accounting, magna cum laude, and earned her master’s degree in Taxation, with distinction, from Bentley University. She is a certified public accountant and a chartered global management accountant. Hanscom lives in Danvers, Mass. with her husband, Ron, and their two children.
Tufts Medical Center is not-for-profit, 415-bed academic medical center that is home to both a full-service hospital for adults and Floating Hospital for Children.