Dan Riley, 59, the CFO of Clinical Integrated Services at the University of Arkansas for Medical Sciences for the past 17 years, resigned Friday. He will stay on until the end of the fiscal year June 30 to allow UAMS to hire his replacement, UAMS spokeswoman Leslie Taylor said. She did not provide information on what prompted the resignation.
Clinic revenues support the academic program at UAMS; they were down in the first quarter.
Multiple initiatives, such as the opening of three orthopedics clinics and two primary care clinics, have required a steady increase in full-time employees since 2015.
Riley’s resignation came at the end of a two-day meeting of the UA Board of Trustees where UAMS’ deficit of $72 million and its termination of 600 positions, 258 of which were filled, were discussed. UA system auditor Jacob Flournoy told trustees UAMS informed him on Nov. 21, several weeks prior to the Jan. 8, firings, that if changes were not implemented, its unrestricted net position would be only $5 million by June 30, 2018. Further losses would threaten UAMS’ bond rating and “begin to impact the System as a whole,” Flournoy told the board.
The firings were estimated to save $18 million this year and $43 million in the next fiscal
Riley’s salary was $281,177.
In a lengthy interview with Healthcare Journal of Little Rock last fall, Riley was asked what he was optimistic about. His response, in part:
One thing for sure is institutions like ours will be around. The issue will be how do we stay abreast of all the changes that are being made and the pace of those changes. Like I said, the gas pedal has been stepped on here these last few years and I think it is going to continue to be stepped on. How can we adapt and change so that we’re in the best position to work with our partners in this state to provide those services in a manner that we can continue to stay in business, reinvest in ourselves, and reinvest in the resources that make this place work? That’s our people. Making that math work is what keeps me up at night.