Buongiorno retires after quarter-century as Main Line Health executive VP and CFO

Leaves legacy of stewardship leading to significant growth for the health system

Bryn Mawr, PAMike Buongiorno, who has served as executive vice president and chief financial officer of Main Line Health for more than 25 years, is retiring at the end of 2023.

Buongiorno leaves behind an impressive legacy focused on helping Main Line Health achieve its commitment to delivering safe, high-quality, equitable and affordable care to its patients and the community. His stewardship led to major investments in real estate, facilities, equipment and personnel, resulting in significant growth at Main Line Health.

He first joined Main Line Health in 1994 as the regional chief financial officer of Paoli Hospital and Bryn Mawr Rehabilitation Hospital. Three years later, he was promoted to executive vice president and CFO, a role he has held ever since. Buongiorno also served two years as interim CEO of Main Line Health from 2003 to 2005.

“Mike has left an indelible mark on Main Line Health that will be impactful for generations to come,” said Jack Lynch, FACHE, President and CEO, Main Line Health. “I appreciate and am indebted to his thoughtful and strategic leadership. Mike made a positive impact on Main Line Health and our community that changed the course of the health system.”

A national recruitment firm has conducted a search for a leader to assume his responsibilities and continue advancing Main Line Health’s strategic goals. Buongiorno said he looks forward to working with the selected candidate and ensuring a smooth transition.

“I have been very privileged to work with many talented leaders, physicians, clinicians and team members and to be able to learn from them and collaborate with them to position Main Line Health to be an outstanding provider in southeastern Pennsylvania,” Buongiorno said. “I wish them well and know the system has a bright future.”

Among Buongiorno’s accomplishments are the following:

  • Serving as the architect of a Main Line Health balance sheet with assets of $4.5 billion that surpass most other similarly sized health systems. The system’s bond ratings have allowed it to borrow at favorable long-term interest rates to invest in the system’s growth.
  • Leading the early integration and growth efforts of Main Line Health, resulting in a single Finance Department and financial systems, and common governance and operating structure for its four legacy hospitals.
  • Facilitating the integration of Riddle Hospital and its affiliates into the Main Line Health family.

Steven Higgins, Chair of Main Line Health’s Board of Governors, said Buongiorno’s dedicated service has made an indelible mark on the system and how it serves the community.

“Mike’s financial acumen and extensive experience have served the system well, especially during challenging times,” Higgins said. “On behalf of the board, I express our deepest thanks to Mike for his outstanding leadership, tireless commitment and steadfast judgment. We wish him great happiness in his next chapter.”

Barbara Wadsworth, DNP, MBA, RN, Chief Operating Officer, Main Line Health, said Buongiorno’s contributions were extraordinary.

“Mike is one of the most caring and sensitive CFOs I have had the privilege to work with,” Wadsworth said. “He is always focused on the patients and staff and truly understands how to find opportunities to improve through delivering financial support for salaries, tools and other resources. It has been a true pleasure to work with Mike and partner with him. He is an exceptional listener with a heart of gold.”

Brian T. Corbett, Esq., Senior Vice President, General Counsel and Secretary, Main Line Health, said Buongiorno’s impact on Main Line Health will be felt for years to come.

“Mike Buongiorno has been my friend and colleague at Main Line Health for 30 years,” Corbett said. “There has been no one more committed to the mission and success of Main Line Health than Mike. His contributions to the financial strength of Main Line Health will receive a lot of accolades upon the occasion of his retirement, and appropriately so. But his lasting impact on our culture — through his leadership, stewardship and integrity — should also be acknowledged and celebrated.”

Buongiorno started his career at Coopers & Lybrand in Philadelphia. As a certified public accountant, his career focused on providing a broad range of accounting and auditing services, as well as significant engagements with Mergers & Acquisitions services to manufacturing, health care, and oil and gas clients. He is a member of the American Institute of Certified Public Accountants and Pennsylvania Certified Public Accountants. He presently serves on the Board of Community Volunteers in Medicine and the Franklin Mint Federal Credit Union.

About Main Line Health

Founded in 1985, Main Line Health is a not-for-profit health system serving Philadelphia and its suburbs. Main Line Health's commitment — to deliver safe, high-quality, equitable and affordable care for treating and curing disease, playing an important role in prevention and disease management, as well as training physicians and other health care providers — reflects our intent to be the region's premier choice for clinical care, research, and education. A team of more than 13,000 employees and over 3,500 employed and independent physicians and advanced practice providers care for patients throughout Main Line Health.

At Main Line Health's core are four of the region's most respected acute care hospitals — Lankenau Medical Center, Bryn Mawr Hospital, Paoli Hospital and Riddle Hospital — as well as one of the nation's premier facilities for rehabilitative medicine, Bryn Mawr Rehab Hospital.

Main Line Health also includes Mirmont Treatment Center for drug and alcohol recovery; Main Line Health HomeCare & Hospice, which includes skilled home health care, hospice and home infusion services; Main Line Health Centers, primary and specialty care, lab and radiology, and other outpatient services located in Broomall, Collegeville, Concordville, Exton, King of Prussia and Newtown Square; Lankenau Institute for Medical Research, a biomedical research organization; and Main Line HealthCare, one of the region's largest multispecialty physician networks.

Main Line Health is the recipient of numerous awards for quality care and service, including the prestigious American Hospital Association Quest for Quality Prize, highest tier ratings from the Centers for Medicare & Medicaid Services (CMS) for Overall Hospital Quality and systemwide recognition in the 2023-2024 U.S. News & World Report Best Hospitals rankings. Main Line Health is committed to creating an environment of diversity, respect, equity and inclusion, has proudly received awards in this area and has embraced the American Hospital Association's #123forEquity Pledge to Act to eliminate disparities in care. We are dedicated to advancing patient-centered care, education and research to help patients stay healthy and live their best lives.

For more information, visit mainlinehealth.org and connect with us on social media:

LinkedIn: www.linkedin.com/company/main-line-health
Facebook: www.facebook.com/mainlinehealth
X (formerly known as Twitter): www.twitter.com/mainlinehealth
Instagram: www.instagram.com/mainlinehealth

Contact

Larry Hanover
Communications Manager
Office: 484.580.1186
[email protected]