NEW LENOX – William Brownlow recently announced his retirement after serving more than 17 years as senior vice president and chief financial officer at Silver Cross Hospital in New Lenox.
Silver Cross Hospital’s board of directors has chosen John Krepps, Silver Cross Hospital’s current vice president of finance, as Brownlow’s successor, effective Monday.
Brownlow, a New Lenox resident, joined Silver Cross in 1996. During his tenure, Brownlow, 62, had significant impact on steering the hospital’s strategic direction.
Brownlow’s astute financial acumen made it possible for Silver Cross to have several successful bond issuances, including the funding for the replacement $360 million hospital, which he achieved in 2009 despite the poor economic climate. Brownlow’s leadership and guidance contributed greatly to Silver Cross’ ability to deliver positive operating margins annually for well over a decade and win Truven’s 100 Top Hospitals national award for seven consecutive years.
A highlight of Brownlow’s tenure has been the successful operation of the Silver Cross Managed Care Organization (SCMCO). He was a pioneer in grasping the opportunities that managed care could provide if properly structured.
Brownlow was also responsible for negotiating hospital contracts and positioned Silver Cross extremely well with third-party payers. He obtained one of the first intensive medical home contracts with Blue Cross Blue Shield in the state of Illinois. Most recently, he participated in the development of the hospital’s second Physician-Hospital Organization, Silver Cross Health Connection, and is one of the founding directors.
Over the past 17 years, Brownlow has effectively managed the hospital’s real estate portfolio and was instrumental in building and maintaining Silver Cross’ medical office buildings, including a large diagnostic and 24/7 emergency care center in Homer Glen. In addition, he worked with the U.S. Veteran’s Administration to convert the former Silver Cross Emergency Department in Joliet to a community-based outpatient center for veterans.
Over and above his work at Silver Cross, Brownlow has been an active and responsible member of several community organizations, serving on the board of the Will County Health Department and as a member of the Silver Cross Healthy Community Commission, which makes grants to community-based organizations and funds scholarships for community residents.
Continuing the legacy
Krepps, 58, a Lemont resident, joined Silver Cross in 1995 and has held several positions, including controller, associate vice president of finance and, most recently, vice president of finance. His contributions have been numerous in designing employee benefit programs, working with members of the medical staff on growth plans, and evaluating partnership and joint venture opportunities.
Krepps was integral in developing Silver Cross Hospital’s relationship with The Rehabilitation Institute of Chicago and serves on the operating council that manages the program. He also provides the financial support for the Silver Cross Neuroscience Institute and the University of Chicago Medicine Comprehensive Cancer Center at Silver Cross Hospital.
Like Brownlow, Krepps played a pivotal role in Silver Cross’ journey to achieve the 100 Top Hospitals status. His keen financial expertise in managing expenses and supply chain were fundamental to winning the national award from 2005 to 2011. Krepps also played an important leadership role throughout the planning and transition to the new hospital campus in 2012, ensuring that Silver Cross was well positioned for the future.
He is also active in the community, serving as a member of the Will-Grundy Medical Clinic board of directors. He also served as a member of the St. Francis Graduate School of Business Advisory Board and mentored college students considering careers in health care.
Krepps earned his master’s of business administration at DePaul University in Chicago and his undergraduate degree in accounting at Western Illinois University.
In his new role as senior vice president and chief financial officer at Silver Cross Hospital, Krepps will assume responsibilities for portfolio management, real estate and special strategic projects, and continue to oversee all financial operations, materials management and business intelligence at Silver Cross Hospital.