Frances Spreer Albert Takes Charge as CFO of WMCHealth to Enhance Financial Strategy

Westchester Medical Center Health Network Welcomes Frances Spreer Albert as CFO

In a significant move towards enhancing its financial and operational efficiency, the Westchester Medical Center Health Network (WMCHealth) has appointed Frances Spreer Albert, CPA, as the new Executive Vice President and Chief Financial Officer. This appointment comes as WMCHealth seeks to solidify its strategic financial direction amidst the evolving landscape of healthcare in the Hudson Valley.

Frances, recognized for her deep expertise in managing complex academic health systems, arrives from Albany Med Health System, where she held dual roles as CFO and COO of a multi-hospital system with an impressive value of $3 billion. Her extensive experience in the healthcare sector will be vital as she addresses the unique financial challenges faced by WMCHealth, which serves nearly 2.5 million residents across over 6,000 square miles.

The move follows the retirement of interim CFO Michael Burke, who guided WMCHealth through a transformative year, reinforcing its financial position in a post-pandemic landscape. Frances will now take the helm to not only preserve this stability but to also amplify WMCHealth’s growth trajectory.

Dr. David Lubarsky, WMCHealth’s President and CEO, expressed confidence in Frances’ capabilities, stating, "Patients across the Hudson Valley are counting on WMCHealth to invest wisely in the care they need today and the services they will need tomorrow." He highlighted how her previous experiences and leadership style align perfectly with WMCHealth's mission of delivering superior healthcare services.

At Albany Med, Frances made significant strides in liquidity management, major capital project advancements, and spearheading recovery initiatives during the critical phases of the COVID-19 pandemic. Notably, she successfully executed a public debt transaction valued at $400 million and significantly improved the organization’s cash-to-total-debt ratio from 26% to approximately 180%. Her strategic initiatives not only secured $123 million in CARES Act grants but also facilitated $169 million in Medicare advances, showcasing her acumen in navigating complex financial landscapes.

Frances’ career trajectory began at KPMG, where she climbed the ranks over 12 years, eventually serving as Senior Manager, providing vital accounting and consulting for healthcare, financial services, and governmental clients. Her adeptness with organizations in transition, combined with her commendable track record, has evidently set her apart as a leader in the field. She has been recognized with the CFO of the Year title by the Albany Business Review in 2018, along with accolades like the Stoneman Distinguished Alumni Award from the University at Albany in 2025, further solidifying her reputation.

As WMCHealth aims to expand its network while integrating advanced healthcare solutions, Frances will lead strategic financial initiatives to identify new opportunities for operational enhancement. WMCHealth, as the Hudson Valley's only academic medical center-led network, is committed to not just maintaining but advancing its status as a key healthcare provider, offering services like the region's sole Level 1 adult and pediatric trauma center.

The future looks promising as Frances Spreer Albert steps into her new role, bringing forth a wealth of knowledge and a strategic perspective that is critical to fulfilling the organization’s commitment to provide high-quality healthcare services. Her appointment signifies not just a new chapter for WMCHealth, but a beacon of hope for communities relying on their healthcare services.