Becker’s Hospital Review Names RWJBarnabas Health Executive as Hospital & Health System CFO to Know

Frank Pipas, Executive Vice President and Chief Financial Officer at RWJBarnabas Health, was recognized by Becker’s Hospital Review as a 2023 Hospital and Health System CFO to Know. This list honors CFOs for their dedication to enhancing the financial wellbeing of their hospitals and health systems. It features the accomplishments of phenomenal leaders who are crucial to the success of their respective organizations.

As Executive Vice President, Chief Financial Officer for RWJBarnabas Health, Mr. Pipas is the most senior finance executive across the largest, most comprehensive academic medical health care system in New Jersey and is an accomplished, steadfast financial leader. Mr. Pipas leads the achievement of the system’s key financial and operational functions, including revenue cycle management, financial reporting, budget and reimbursement, supply chain and purchasing, payroll, tax, treasury, and investments, so that RWJBarnabas Health can provide exceptional health care to the communities it serves.

“Becker’s recognition of Frank Pipas is a testament to his acute proficiency and dedication to his role,” said Mark E. Manigan, President and Chief Executive Officer of RWJBarnabas Health. “His expertise and perspective are critical in advancing our mission of creating healthier communities.”

During the COVID-19 pandemic, healthcare providers across the country pivoted their resources to address overwhelming patient needs, and the situation was no different for RWJBarnabas Health. In fact, as one of the epicenters in the pandemic’s early days, the virus’ impact on New Jersey health care providers was even more severe. Now, Mr. Pipas is reinvigorating financial discipline to stabilize the financial health of the organization and driving the system’s growth in profitability following the end of the public health emergency.

In just over four months in his role, Mr. Pipas has become a critical part of the system’s movement towards an operating model focused on being one system, one family, overseeing continued strategic investments to advance the mission and purpose of RWJBarnabas Health. In support of the system’s operating model, he is working to harmonize processes and policies across each of its facilities, including twelve acute care hospitals, three acute care children’s hospitals, a network of outpatient pediatric rehabilitation centers, a freestanding 100-bed behavioral health center, two trauma centers, a satellite emergency department, ambulatory care centers, geriatric centers, the state’s largest behavioral health network, comprehensive home care and hospice programs, fitness and wellness centers, retail pharmacy services, affiliated medical groups, multi-site imaging centers, and two accountable care organizations.

As CFO, Mr. Pipas works to execute RWJBarnabas Health’s strategic vision in a landscape that is constantly being tested by operational pressures, regulatory changes, mounting expenses, labor shortages, and population health concerns. His leadership extends beyond the C-suite and directly impacts patient experience across the system. He is skillfully managing operational initiatives that directly impact patient care whilst dealing with myriad financial headwinds.

Mr. Pipas joined RWJBarnabas Health in December 2022 from another major health system, where he served in a senior leadership role after rising through the organization in roles of increasing responsibility. Prior to his current role at RWJBarnabas Health, Mr. Pipas maintained a consistent record of strong financial performance and growth for his former organization. Notably, he was the architect of numerous integration strategies for financial functions across their network, including a key consolidation that created the organization as it operates today. Mr. Pipas also led all financial aspects related to the opening of a critical medical center for the organization and region.

The full list of 2023 Hospital & Health System CFOs to Know can be found on Becker’s website here.

RWJBarnabas Health is the largest, most comprehensive academic health care system in New Jersey, with a service area covering eight counties with five million people. The system includes twelve acute care hospitals – Clara Maass Medical Center in Belleville, Community Medical Center in Toms River, Cooperman Barnabas Medical Center in Livingston, Jersey City Medical Center in Jersey City, Monmouth Medical Center in Long Branch, Monmouth Medical Center Southern Campus in Lakewood, Newark Beth Israel Medical Center in Newark, Robert Wood Johnson University Hospital in New Brunswick, Robert Wood Johnson University Hospital Somerset in Somerville, Robert Wood Johnson University Hospital Hamilton in Hamilton, Robert Wood Johnson University Hospital Rahway in Rahway and Trinitas Regional Medical Center in Elizabeth, three acute care children’s hospitals, Children’s Specialized Hospital with a network of outpatient pediatric rehabilitation centers, a freestanding 100-bed behavioral health center, two trauma centers, a satellite emergency department, ambulatory care centers, geriatric centers, the state’s largest behavioral health network, comprehensive home care and hospice programs, fitness and wellness centers, retail pharmacy services, affiliated medical groups, multi-site imaging centers and two accountable care organizations.

RWJBarnabas Health is among New Jersey’s largest private employers – with more than 38,000 employees and 9,000 physicians– and routinely captures national awards for outstanding quality and safety. RWJBarnabas Health launched an affiliation with Rutgers University to create New Jersey’s largest academic healthcare system. The collaboration aligns RWJBarnabas Health with Rutgers’ education, research, and clinical activities, including those at the Rutgers Cancer Institute of New Jersey – the state’s only NCI-designated Comprehensive Cancer Center – and Rutgers University Behavioral Health Care.