Kevin J. Lenahan, CPA, FHFMA
Vice President and Chief Financial Officer
Atlantic Health System
Kevin Lenahan is the Vice President Finance and Chief Financial Officer of Atlantic Health System, Inc. Mr.
Lenahan began his career at Atlantic Health in September 1995 at the Morristown Campus and has served the
organization in numerous capacities over the past 20 years, including CFO since 2010. Mr. Lenahan is
President and Chair of Atlantic Health Management Corporation, Vice President of Atlantic Insurance
Company, Ltd. and Vice President of Atlantic Ambulance. In the fall of 2013, he was named “CFO of the Year”
by NJBIZ within the large, not-for-profit category. In 2015, Kevin was selected as a finalist for the CFO
Innovation Awards, from CFO Studios.
During Mr. Lenahan’s tenure as CFO, Atlantic has experienced tremendous growth in size and revenue base.
Total Operating Revenue has increased 74% from 2010 to 2014 when AHS revenues exceeded $2 billion. He
manages the investments of Atlantic which are in excess of $1 billion and include funds in board designated,
pension, post retirement and insurance.
Mr. Lenahan has overseen the process of bringing two additional hospitals (Newton Medical Center in 2011
and Chilton Medical Center in 2014) into the System. Additionally, he worked to transition both hospitals into
the Atlantic Health System and implemented a uniform general ledger, payroll, revenue cycle and materials
management system. Under Mr. Lenahan, Atlantic has improved its credit ratings and is currently rated A1
Stable by Moody’s and A+ Positive by S&P. Atlantic is the highest rated healthcare system in NJ.
Mr. Lenahan successfully completed a bond issue for $354,220 million in 2008 that was 50% fixed rate and
50% variable rate debt. In addition, Mr. Lenahan completed a $130,545 million fixed rate debt bond issue in
2011. Lastly, Mr. Lenahan completed a $50 million term loan with Bank of America in 2014. Atlantic’s debt to
capitalization at the end of 2014 was .30, one of the lowest in healthcare in NJ.
Mr. Lenahan led the team to develop the first ACO in NJ, the Atlantic ACO. It is also one of the largest ACO’s in
the country under Medicare. The ACO has since grown to include: Cigna, Aetna, United, Atlantic Employees
and Horizon. He is currently the CFO of the Atlantic ACO and has been since inception.
In coordination with Aetna, Mr. Lenahan developed Atlantic’s first risk-based contract. The collaboration with
Aetna and Hackensack Medical Center is a Medicare Advantage product that began on January 1, 2015 and has
over 3,000 members attributed to Atlantic.
Mr. Lenahan is Vice President and CFO of the Atlantic Insurance Ltd. This is an insurance captive that he has
managed with Legal and Risk Management since its inception. The Captive is A- rated by AM Best.
Mr. Lenahan is operationally responsible for the Atlantic Homecare/Hospice program, which has over 300+
field staff, covering 7 counties and has an average daily census of 1,200 homecare care and 120 hospice.
Under his leadership, AHH operating revenue has grown 32% between 2010 and 2014 when it reached $46
million.
Mr. Lenahan is operationally responsible for Atlantic Investment Corp, including: At Home Medical, Atlantic
Private Care Services, Morristown Surgical Center-Endoscopy, Alliance Center for Weight Management, Eagle
Ambulance, Real Estate-residential & commercial properties and the holding company for joint ventures. At
Home Medical provides product and services to over 36 thousand patients in NJ and PA. At Home Medical was
recognized by the New Jersey Society of Respiratory Care as its “Vendor of the Year” in 2012 and 2013.
Mr. Lenahan is operationally responsible for Atlantic Medical Group. This is the fastest growing division of
Atlantic Health System. In 2014, over 100+ providers were added and physician practice revenue has grown to
over $145 million, with 600+ physicians. In 2014, AMG began rolling out EPIC as an EMR, and currently has
approximately 200 providers on EPIC.
Mr. Lenahan received his B.A. in Accounting from William Paterson University. He is a Fellow, with the
Healthcare Financial Management Association (HFMA). He is a member of the New Jersey Society of CPAs and
has served on the Audit Subcommittee of the United Way of Morris County for the past 15 years. He is a
member of the College of Healthcare Executives and a member of the William Patterson University School of
Business Advisory Board of Directors. Mr. Lenahan has been a member of the Wall Street Journal CFO Forum
for the past three years and has co-chaired their Healthcare Impact discussion groups. He is a past member of
the Board of Trustees of Morris Catholic High School, chairing the Strategic Planning Committee.
Mr. Lenahan is an adjunct professor for Fairleigh Dickinson University, teaching Healthcare Finance. He has
been a guest lecturer and member of panel discussion for HFMA. He has taught the HFMA certification course
for both the New Jersey Chapter and National HFMA and has done presentations on Healthcare Finance for
Marsh and McKesson corporate offices.
Prior to joining Atlantic Health, Mr. Lenahan worked for Coopers & Lybrand L.L.P and was a Senior Medicare
Audit & Reimbursement Analyst for Blue Cross & Blue Shield of NJ.