David Nosacka named CFO of the Year by PSBJ

David Nosacka, Virginia Mason Franciscan Health (VMFH) and CommonSpirit Health Northwest Region Chief Financial Officer (CFO), has been recognized as CFO of the year by the Puget Sound Business Journal. 

Nosacka is one of only 10 CFOs honored for his financial stewardship and steadfast dedication to our mission and our people. The awardees represent leaders across industries from retail to health care, non-profit organizations and more. 

"David has been a vitally important member of the VMFH and Northwest Region leadership team and has been instrumental in our ongoing financial recovery, with a clear vision to achieve success," noted Ketul Patel, Chief Executive Officer of Virginia Mason Franciscan Health and President of CommonSpirit Health’s Northwest Region. "His expertise has been especially important during this time of rapid change in the health care industry."

Hospital systems nationwide continue to face financial pressures and workforce challenges. According to the Washington State Hospital Association, 85% of Washington state hospitals are continuing to lose money and have "very little left in reserve to counteract the continuing losses without cutting services." 

Addressing such challenges requires strong and visionary leadership. Nosacka is highly respected by his peers and team members in the industry for his commitment to transparency and results-driven approach. Nosacka’s thoughtful planning, and delivery of results on a number of strategic initiatives have increased access to care, strengthened alignment with colleagues and improved operating results.

"I’m excited to move beyond the historic adversity of the COVID-19 pandemic and the post-pandemic economic challenges to focus on the community's need for services from our more than 300 sites of care," says Nosacka. "Our ability to serve our patients is directly tied to our financial performance, and that imperative inspires me to work as hard as I can to ensure we’re on stable ground."

He joined the VMFH team in 2021, bringing 25 years of expertise in health care finance, growth and strategy. Nosacka has held numerous leadership roles in both for-profit and nonprofit organizations around the country, including Hospital Sisters Health System in Illinois; HCA Healthcare/Triad Hospitals in Texas; and Creighton University Medical Center in Nebraska.

Beyond VMFH, David is deeply involved in community and industry organizations, including serving as a mentor at the Seattle University Albers School of Business and Economics, and on the boards of the Washington State Health Alliance and Rural Physicians Group.

Nosacka was honored at the official PSBJ event on June 27.