Greg Stock earned a Bachelor of Arts degree in 1978 and a Master of Health Care Administration/Public Administration degree from BYU in 1980. After gaining initial exposure with a smaller hospital company, Stock joined HCA in 1981 as a CEO. Over the next nine years, he was CEO of three different HCA hospitals in South Dakota, Missouri, and Oregon. He gained valuable experience leading the financial turnaround of two facilities during that time. Development of new services, recruitment of key physicians, improved productivity and market share gains were realized in both for-profit and not-for-profit settings.
Stock came to Louisiana in 1990. Over the next seven years, Thibodaux Regional grew rapidly under his direction. Sixty physicians were recruited. A heart by-pass surgery program, a cancer center, a neuro program and other important services were developed. The physical plant was enlarged; revenue tripled; and income rose from $2,000,000 to $16,000,000. Stock was Chief Executive Officer of Thibodaux Regional from 1990-1997. During that time, he brought the medical center to a significantly higher level of performance. Thibodaux Regional experienced significant growth under Stock’s “results-oriented” leadership. The hospital’s census, both inpatient and outpatient, increased for seven years. In 1997, Stock left Thibodaux for two years to lead Northwest Health System, a two-hospital enterprise in Arkansas with nearly 2000 employees. The sale of the system triggered Stock’s return to Thibodaux.
In October 1999, Stock returned to Thibodaux Regional Medical Center. He brings with him valuable professional experiences and important instincts relative to succeeding in today’s often volatile healthcare industry. His collaborative management style, strong physician relations skills, an easy, outgoing manner, sense of humor and ability to challenge his staff to perform at their very best enable him to continue achieving and earning the loyalty and respect of others who also are committed to excellence.
In today’s healthcare market, financial challenges rank as the number one issue hospitals face. To maintain a margin to support its mission, hospital CEOs are always looking for opportunities to boost revenue through improved reimbursement. Managing discharged not final billed (DNFB) cases, where bills remain incomplete due to coding or documentation gaps, is one important way hospitals can improve financial performance. By expanding the use of analytics to every aspect of its billing services, Thibodaux Regional Medical Center has achieved impressive, sustained results. Three years after Thibodaux Regional launched its initial DNFB redesign effort, it continues to sustain and add to its improvement, realizing $2.4M in additional annual reimbursement and a 61% relative reduction in DNFB dollars, significantly improving its cash flow.