pinnaclehealth system is a community-based , nonprofit , physician-led healthcare system serving the greater harrisburg , pennsylvania metropolitan area .

pinnaclehealth operates three hospitals — harrisburg hospital , community general osteopathic hospital and west shore hospital — as well as a network of family practices , imaging centers and walk-in care centers .

since its establishment in 1996 , pinnaclehealth has grown to a multi-county system with more than 6,000 employees and more than 1,250 physicians and allied health professionals with over 1 $ billion in revenue , two of pinnaclehealth 's largest facilities , harrisburg hospital and polyclinic medical center are teaching hospitals with a combined count of 884 inpatient beds , over 35,100 inpatient admissions and 235,000 outpatient visits per year as well as over 5,000 deliveries and 60,000 emergency room visits annually , making it one of the largest urban clinical institutions in the nation .

it is the fifth largest employer in central pa .

pinnaclehealth system has been a leading provider of inpatient and outpatient healthcare services in central pennsylvania since 1873 .

the 627-bed system has three acute care hospitals ( community general osteopathic , harrisburg and west shore hospitals ) on four campuses ( community , harrisburg , polyclinic and west shore ) serving a five-county service area and supporting rural hospitals through affiliations and telehealth services .

the system has approximately 6,000 employees and more than 1,250 physicians and allied health professionals .

pinnaclehealth pursues innovative treatment options for the region through cardiac and cancer clinical trials , while offering convenient community services including medical home-certified primary care , emergency and urgent care , magnet-recognized nursing excellence , imaging , high-volume maternity care and a level iii nicu , and workplace-based wellness services .

pinnaclehealth includes a cardiovascular institute and cancer institute , as well as a bone and joint institute , neurosurgery and neurosciences institute , and spine care center that combine a multi-disciplinary approach to comprehensive spine , bone , joint , orthopedic and sports medicine services .

pinnaclehealth is recognized for high-quality care with national and regional recognition for volumes , outcomes and safety .

pinnaclehealth by the numbers 37,000 + surgical procedures performed each year 4 hospitals campuses : harrisburg , community , west shore , york memorial hospital 37 operating rooms 1,300 coronary interventional procedures each year 627 beds 142,000 + emergency department visits 4,000 births 11,700 oncology visits 880,000 + outpatient visits 35,493 inpatient admissions $ 90,622,000 in uncompensated care $ 8.9 million + in charity care 1250 health care providers on the pinnaclehealth medical staff ( includes physicians and allied health professionals ) 60 medical specialties 6,200 + employees 536 volunteers

pinnaclehealth system

click here to learn more about nursing opportunities at pinnaclehealth system . the registered nurse is an essential member of the pinnaclehealth system health . . .
assist the physician recruitment department in recruitment of physicians to pinnaclehealth system . responsible for conducting search related activities , . . .
medical assistant ( ma ) – pinnacle health system . there are many benefits in becoming an employee at pinnaclehealth : . . . .
the clinical manager collaborates with the nurse manager to meet the strategic management goals of both the unit and pinnaclehealth system . . . .
deborah cancilla . cio of pinnaclehealth system ( harrisburg , pa . ) . ms . cancilla has been cio of pinnaclehealth since 2014 . in this role , she oversees technology initiatives such as a systemwide epic ehr implementation . [ read more ]
the registered nurse is an essential member of the pinnaclehealth system health care team who is responsible for assessing , planning , implementing , evaluating , . . .
responsible for the development , implementation , and management of stroke care within pinnaclehealth hospitals . . . .
pinnaclehealth ceo and president philip guarneschelli said the affiliation with upmc offers an alignment of low - cost health insurance through the pittsburgh system ' s provider - sponsored health plan .
pinnaclehealth home care is now known as affilia home health . we are affiliated with lancaster general health and reading health system . job openings are posted through lancaster general health careers .
pinnaclehealth system said staffing , medical providers and management oversight at the allbettercare urgent care centers in mechanicsburg , carlisle and harrisburg will remain unchanged . financial terms of the deal were not disclosed .
the operator position will provide answering services for pinnaclehealth entities ( including , but not limited to : . . . .
lancaster regional medical center ceo brooks turkel and president & ceo of pinnaclehealth phil guarneschelli , raise the new flag that will fly at lancaster regional medical center and heart of lancaster after merging with pinnaclehealth on thursday , july 6 , 2017 .
brent snyder . cio of adventist health system ( altamonte springs , fla . ) . mr . snyder , who has spent more than 30 years with adventist health system , has been corporate cio for the system since 2016 , when adventist health system integrated its two it departments into one it service provider . [ read more ]
but the merger would allow hershey to send routine hospital and surgery cases to pinnaclehealth facilities such as harrisburg or community general osteopathic hospitals .
mike canfield . cio of augusta health system ( fishersville , va . ) . mr . canfield has been cio of augusta health system since january 2016 . [ read more ]
pinnaclehealth has a vision for a healthier community . basic computer skills required in order to complete mandatory training programs and effectively use . . .
the university of pittsburgh medical center also said it planned to affiliate with pinnaclehealth when the four - hospital purchase agreement was announced in march .
pamela mcnutt . senior vice president and cio of methodist health system ( dallas ) . ms . mcnutt has been senior vice president and cio of methodist health system since 1993 , and she served as the system ' s privacy officer from 2002 to 2011 . [ read more ]
pinnaclehealth has a vision for a healthier community . basic computer skills required in order to complete mandatory training programs and effectively use an . . .
leaders of pinnaclehealth system and penn state milton s . hershey medical center argued monday that merging their systems is best for the people and businesses of the harrisburg region , and is needed to prevent big players from outside the region from seriously weakening them .
pamela arora . senior vice president and cio of children ' s health system of texas ( dallas ) . ms . arora , who joined the children ' s health system of texas in 2007 , oversees technology , health information management and biomedical technology and systems for the health system . [ read more ]
as part of the changes , the health system will also introduce a new name : tower health .
frank disanzo . chief strategy officer and cio of saint peter ' s healthcare system ( new brunswick , n . j . ) . mr . disanzo joined saint peter ' s healthcare system in 2008 . [ read more ]
indranil ( neal ) ganguly . vice president and cio of jfk health system ( edison , n . j . ) . before being named vice president and cio of jfk health system in 2013 , mr . ganguly was cio of freehold , n . j . - based centrastate healthcare system for almost 15 years . [ read more ]
they depicted pinnaclehealth as a community - focused provider which , among other things , has a mission of serving an urban population with intense health needs and limited ability to pay .
mary alice annecharico , rn . senior vice president and cio of henry ford health system ( detroit ) . in 2011 , ms . annecharico was appointed senior vice president and cio of henry ford health system . [ read more ]
jon burns . senior vice president and cio of university of maryland medical system ( baltimore ) . mr . burns , who has 31 years of healthcare experience , joined university of maryland medical system in 2006 . [ read more ]
julie berry . cio of steward health care system ( boston ) . ms . berry , who has more than 20 years of healthcare technology experience , has been the cio of steward health care system since 2013 . [ read more ]
carlos escobar . vice president and cio of adventist health system , central florida region ( greater orlando ) . mr . escobar was appointed vice president and cio of adventist health system , central florida region in april 2016 . [ read more ]
pinnaclehealth has operated in central pennsylvania for more than 140 years . it has three acute - care hospitals serving a five - county region and has net operating revenue exceeding $ 1 billion .
the upmc affiliation would also allow pinnacle to recruit more top doctors , the health system said in tuesday ' s announcement .
harrisburg - based pinnaclehealth bought four hospitals on july 1 , including lancaster regional medical center and heart of lancaster regional medical center , and is pursuing an affiliation with university of pittsburgh medical center .
gary barnes . senior vice president and cio of medical center health system ( odessa , texas ) . mr . barnes , who has been with medical center health system for 30 years , took on his current role in 2015 . [ read more ]
we looked at many other options and this is the best option by far ,
pinnaclehealth ceo mike young said during a meeting with the editorial board of pennlive - the partriot - news .
wellspan , for example , now extends from adams county through york and into lancaster county and , as a result of its recent acquisition of good samaritan health system , lebanon county . geisinger , which is bigger than a combined pinnaclehealth - hershey , also has entered the harrisburg - region market though its affiliation with holy spirit .
becker ' s hospital review is pleased to release the 2017 edition of its list of hospital and health system cios to know .
shirley gabriel . vice president of information systems and cio of university health care system ( augusta , ga . ) . ms . gabriel began her tenure as vice president of information systems and cio of university health care system in 2015 . [ read more ]
laura smith . cio of unitypoint health system ( west des moines , iowa ) . ms . smith became cio of unitypoint health in august 2016 after spending three years as vice president of it operations of the three - hospital system . [ read more ]
the reading health system has signed an agreement to purchase five pennsylvania hospitals and plans to change its name , officials said tuesday .
the ftc and the ag say the merger would give pinnaclehealth and penn state - hershey a 64 percent market share in dauphin county , and the loss of competition would lead to higher prices for consumers .
subra sripada . executive vice president , chief transformation officer and system cio of beaumont health ( royal oak , mich . ) . mr . sripada serves as executive vice president , chief transformation officer and system cio of beaumont health , a nonprofit organization established in 2014 by royal oak - based beaumont health system , farmington hills , mich . - based botsford health care and oakwood healthcare . [ read more ]
the new owner of two lancaster county hospitals is planning to add three urgent care centers to its system this fall , it announced thursday .
jonathan brown . vice president and cio of mission health system ( asheville , n . c . ) . in 2016 , mr . brown took on the cio role at mission health system in addition to the vice president position he has held since 2009 . [ read more ]
audrius polikaitis , phd . assistant vice president of health information technology and cio of university of illinois hospital & health sciences system ( chicago ) . since 2011 , dr . polikaitis has been assistant vice president of health it and cio of the health system . [ read more ]
tim thompson . senior vice president and cio of baycare health system ( clearwater , fla . ) . the health system named mr . thompson cio in september 2010 . he joined baycare from the houston methodist , where he was senior vice president and cio . [ read more ]
kumar chatani . executive vice president and cio of mount sinai health system ( new york city ) . mr . chatani , who has almost 30 years of it and business management experience , manages a budget of roughly $ 300 million for mount sinai health system . [ read more ]
marc chasin , md . vice president and cio and cmio of st . luke ' s health system ( boise , idaho ) . dr . chasin , who joined st . luke ' s health system in 2010 , was named cio and cmio in 2012 . [ read more ]
matthews said the health system plans to offer new insurance plans to employers and individuals that will help control costs and give patients access to care .
serves as a liaison for program staff , physicians , and system administration . oversees assessment , planning , implementation , and evaluation of diabetes . . .
brian tew . vice president of information technology and cio of greater hudson valley health system ( middletown , n . y . ) . mr . tew was vice president of operations and cio of catholic medical center in manchester , n . h . , before joining greater hudson valley health system . [ read more ]
the hospital statement did not say if there were any other possible acquisitions or mergers to come , but the new system will serve 2 . 5 million people .
it ' s the second name change for the hospital since november 2012 when reading hospital became reading health system to reflect the scope of services offered in the area .
craig richardville . senior vice president and chief information and analytics officer of carolinas healthcare system ( charlotte , n . c . ) . mr . richardville joined the health system in 1997 , before which he served in numerous administrative roles , including vice president of information systems , at toledo , ohio - based promedica . [ read more ]
pinnaclehealth president and ceo phil guarneschelli praised
the wonderful work done by the doctors and staff at abc in fostering better health and appropriate care in the right setting ,
saying the organizations share a vision
to reduce unnecessary emergency room visits and decrease emergency room wait times . ”
preston simons . cio of aurora health care ( milwaukee ) . mr . simons was named cio of the 15 - hospital , nonprofit health system in october 2015 . [ read more ]
in march , the tennessee chain announced plans to sell four of its hospitals to harrisburg - based pinnaclehealth . those hospitals are carlisle regional medical center in cumberland county ; heart of lancaster regional medical center and lancaster regional medical center in lancaster county ; and memorial hospital of york in york county .
memorial hospital said on its website that the acquisition agreement includes the sale of the hospital and its associated assets and includes a commitment from pinnaclehealth to offer employment to all active employees in good standing when the transaction is complete . privileges will continue for all physicians in good standing on the medical staff .
pinnaclehealth has announced it is affiliating with upmc , the university of pittsburgh medical center , and in a separate deal is acquiring four pennsylvania hospitals including memorial hospital of york in york , lancaster regional medical center in lancaster , heart of lancaster regional medical center in lititz and carlisle regional medical center in carlisle .
robert brandner . cio of spectrum health systems ( worcester , mass . ) . mr . brandner , who joined spectrum health systems in 2015 , is the system ' s first cio . [ read more ]
to receive the latest hospital and health system business and legal news and analysis from becker ' s hospital review , sign - up for the free becker ' s hospital review e - weekly by clicking here .
ryan smith . senior vice president of information technology and cio of banner health ( phoenix ) . mr . smith has been senior vice president of it and cio of the health system since 2013 . [ read more ]
john ward . senior vice president and cio of trihealth ( cincinnati ) . mr . ward was named senior vice president and cio of the health system in may 2015 after serving as director of ambulatory systems since february 2013 . [ read more ]
david l . house . vice president and cio of baptist health ( little rock , ark . ) . mr . house , who has spent 25 years with baptist health , is the system ' s vice president and cio . [ read more ]
scott joslyn . senior vice president and cio of memorialcare health system ( fountain valley , calif . ) . mr . joslyn was responsible for a $ 100 million enterprisewide rollout of memorialcare ' s ehr , registration and billing systems . [ read more ]
geoffrey brown . cio of piedmont healthcare ( atlanta ) . mr . brown joined piedmont healthcare as cio in 2014 . he has led various technology initiatives at the health system , such as establishing employee standards for security and privacy compliance . [ read more ]
jim veline . senior vice president and cio of avera health ( sioux falls , s . d . ) . mr . veline oversees the it services for the health system , which includes 900 employed physicians serving more than 300 locations . [ read more ]
john halamka , md . senior vice president of information systems and cio of beth israel deaconess medical center ( boston ) . dr . halamka took over the cio position at bidmc in 1998 and helped with an ehr system implementation there in 1999 . [ read more ]
jon morris , md . senior vice president and cio of wellstar health system ( alpharetta , ga . ) . dr . morris completed his medical degree from indianapolis - based indiana university school of medicine and has been a practicing emergency medicine physician since 1980 . [ read more ]
thomas mcgill , md . vice president of quality and safety and cio of butler ( pa . ) health system . board - certified in internal medicine and infectious disease , dr . mcgill earned his medical degree from worcester - based university of massachusetts medical school . [ read more ]
reading health system and subsidiaries of tennessee - based community health systems have signed an asset purchase agreement for reading health to acquire pottstown memorial medical center , pottstown ; brandywine hospital , coatesville ; phoenixville hospital , phoenixville ; jennersville regional hospital , west grove ; and chestnut hill hospital , philadelphia .
yet all of their remarks during an hour - long session indicated deep commitment to a merger path they ' ve spent well over a year studying and preparing to execute . george grode , a member of the pinnaclehealth board , told of receiving a call from a fellow board member who said it would a be a
disservice not to contest
the ftc decision .
frankly , we ' re about a mission of service , not disservice ,
grode said .
but the two local executives argued monday that the most pertinent competition involves
megasystems
from outside the immediate market . these include geisinger health system , wellspan health , the university of pittsburgh medical center , baltimore - based johns hopkins , and philadelphia - based university of pennsylvania , now collaborating with lancaster general .
“creating a regional network of hospitals and providers makes sense in the current environment and positions us well for the future , ” said rich newell , ceo of the pottstown hospital . “we are committed to providing our patients with the highest quality care and this will continue as we join with reading health system . ”
david weiss . senior vice president and cio of bjc healthcare ( st . louis ) . in addition to his role as cio of the health system , mr . weiss is the chairman of the telecommunication facilities corp . , a joint venture between bjc and washington university school of medicine in st . louis . [ read more ]
correction : an earlier version of this list included jayne bassler as vice president and cio of florida hospital in orlando . ms . bassler no longer holds this position . the list has been updated to include carlos escobar , who has assumed ms . bassler ' s responsibilities in the position of vice president and cio of adventist health system , central florida region .
“reading health has a rich 150 - year history of providing high - quality , cost - effective health care to the communities we serve , ” said clint matthews , president and ceo of the reading health system . “the proposed acquisition will ensure the continued development of acute care and related assets , and provider network capabilities to best serve our region in a cost - effective manner . ”
upmc pinnacle is a nationally recognized leader in providing high - quality , patient - centered healthcare services in central pennsylvania and surrounding rural communities . its more than 2 , 900 physicians and allied health professionals and approximately 11 , 000 employees serve a 10 - county area at outpatient facilities and eight acute care hospitals with 1 , 360 licensed beds : upmc carlisle , upmc community osteopathic , upmc hanover , upmc harrisburg , upmc lancaster , upmc lititz , upmc memorial , and upmc west shore . the not - for - profit system anticipates caring for more than 1 . 2 million area residents in fy 2018 .
upmc pinnacle complies with applicable federal civil rights laws and does not discriminate on the basis of race , color , national origin , age , disability or sex .
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our 2016 annual report highlights upmc pinnacle ' s commitment to community and our new vision for healthcare .
please take the time to read through this report and learn more about how upmc pinnacle achieves its mission to maintain and improve the quality of life for all people in central pennsylvania .
meet with one of our available care providers at one of our many convenient locations .
upmc pinnacle is here for you every step of the way . whether it is caring for newborn babies or helping with a chronic or acute illness , we are your health care partner , always . find a doctor near you today .
new guidelines issued by the american heart association ( aha ) and american college of cardiology ( acc ) have lowered t . . .
deb was diagnosed with breast cancer . at that moment she decided that breast cancer was not going to define who she i . . .
upmc pinnacle nurses to host 3 . 2 to protect the blue 5k – june 14 , 2018
proceeds benefit purchase of protective vests for the harrisburg police department harrisburg , pa . ( may 29 , 2018 ) - t . . .
he is the best ! ! no one comes close ! ! . . .
anticipates caring for more than 1 . 2 million area residents in fy 2018 .
bone and joint institute , neurosurgery and neurosciences institute , and spine care center combine a multi - disciplinary approach to comprehensive spine , bone , joint , orthopedic and sports medicine services .
since 1997 , cardiovascular institute’s clinical trials have transformed cardiovascular medicine and made new therapies available to our community before they were available elsewhere , such as transcatheter aortic valvereplacement ( tavr ) , next generation tavr valves and the latest in transcatheter mitral valve replacement .
comprehensive community programs and services to improve the health and wellness of our region , including school health screenings , insurance enrollment guidance , home - visiting programs , community paramedicine , “eat smart , play smart” energy pack program and community education and screenings .
named “high performing” among u . s . news & world report’s “best hospitals” :
alert : due to construction , starting april 5 , patients coming to labor & delivery should take the “a” elevator behind the lobby information desk to the 8th floor . read more
24 hours for emergency room patient registration : monday - friday , 5 a . m . - 10 p . m . ; saturday , 7 a . m . - 3 : 30 p . m . ; sunday , 7 a . m . - 3 p . m . laboratory : monday - friday , 6 a . m . - 4 p . m . ; saturday , 7 a . m . - 3 : 30 p . m . blood donor center : monday - friday , 7 a . m . - 5 : 30 p . m . imaging : monday - friday , 24 - hour emergency / stat coverage ; mammography ( screening only ) : monday / wednesday / friday , 8 a . m . - 3 p . m . ekg : monday - friday , 7 a . m . – 3 : 30 p . m . ; saturday , 8 a . m . – noon
attention ! during construction , pedestrian and traffic patterns along chestnut and second streets in harrisburg will temporarily change . we apologize for any inconvenience you experience and thank you for your patience while we build the future of remarkable healthcare in the region .
visitors may park in the brady visitor parking garage and pay a minimal fee . visitors may have their parking validated at the information desk in the lobby of the upmc pinnacle harrisburg . the brady visitor parking garage is free on weekends . free valet parking exists for all patients by pulling to the front lobby or they may self park in the physician / patient garage . valet parking is available from 6 : 30 a . m . - 5 p . m . monday - friday . the patient parking garage is free and is to be used by patient’s presenting for testing or treatment . click here for a parking map .
visitation is a therapeutic part of the patient ' s hospital experience . it is the policy of upmc pinnacle hospitals to allow visitation in the least restrictive manner possible while providing for the comfort and safety of our patients . parents are responsible for the control and behavior of their children visitors may be requested to leave at any time at the discretion of the medical , nursing or security staff .
breastfeeding has many benefits beyond all the nutrition your baby needs to grow and be healthy . despite what some pe . . .
courtney shares her life changing experience of emergency heart surgery and giving birth to twins all in the same day .
planning for a hospital stay ? why planning for your discharge is just as important as planning for your arrival to the hospital .
planning for your discharge home is a process that starts at the time you are admitted to one of our facilities . & nbsp . . . ;
harrisburg , pa , ( october 31 , 2017 ) – the leapfrog group , a national nonprofit health care ratings organization , . . .
upmc pinnacle offers a range of employment opportunities for providers who are committed to quality patient care .
central pennsylvania ' s capital region has much to offer , earning it a place on the urltoken list of “america’s most livable cities . ”
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according to a news release , allbettercare has provided care to nearly 100 , 000 new patients since opening in 2010 and employs 12 physicians and seven physician assistants .
upmc pinnacle offers the best primary care in the region with over 50 locations across 10 counties .
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but young and his counterpart at penn state - hershey , dr . craig hillemeier , said their boards still must decide whether to wage a legal fight against the federal trade commission , which plans to oppose the merger . they expect the decision within the week .
last week , the ftc and the pennsylvania attorney general announced they will , in partnership , oppose the merger of the two largest harrisburg region - based health systems .
young and hillemeirer on monday declined to address specifics of the ftc ' s stance , aside from calling it
an unfortunate decision .
encroachment by those systems , they said , can deny the harrisburg systems the size and scale needed ensure the highest caliber of health care in the harrisburg region , and to keep local control of such services .
they said penn state - hershey in particular is threatened . hillemeier said penn state - hershey is operating at near capacity in its hospital , raising the prospect of having to turn away patients seeking the advanced care offered at medical schools , and forcing them to facilities in places such as pittsburgh , philadelphia and baltimore .
that would enable penn state - hershey to save
hundreds of millions
in construction costs that otherwise would be passed along to businesses , insurers and patients paying for health care in the midstate .
they also said the increased size and scale attained through merger is needed to enable the two local systems to compete nationally for medical talent , compete for medical research dollars , and offer robust local opportunities for participation in clinical trials .
they depicted penn state - hershey as an institution whose main attributes include its medical school , highly advanced treatments , and research .
we certainly need to keep those jobs and research efforts here in central pennsylvania ,
hillemeier said .
merging the two , they said , would allow elimination of assorted redundancies and give efficiences that would produce affordable health care .
the leaders of the two entities further argued their costs are already lower then their counterparts in other areas , especially those located in cities that threaten to syphon off local patients in need of the highest levels of care .
pressed on when and how prices would truly become lower for harrisburg - region patients , grode acknowledged total health care costs always go up , but argued the merger will produce lower case - by - case costs .
they further said the merger has support of 40 harrisburg - area entities , including the harrisburg regional chamber , and health insurers highmark and capital bluecross .
the insurers would not be in favor of this if they were concerned about a lack of competition . they understand the competition is the university of pennsylvania , geisinger , johns hopkins . . .
said young , adding that players as far away as the cleveland clinic are advertising in the local market .
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these executives are leading their organizations through healthcare ' s technology revolution , overseeing ehr installations , new patient portals and telemedicine advancements while working to keep data secure from breaches . they have received various awards and maintain involvement in organizations such as the healthcare information and management systems society and the college of healthcare information management executives .
the becker ' s hospital review editorial team selected leaders for this list based on editorial research and discretion , including prominent cios and those who head up it for some of the nation ' s largest and most respected hospitals and health systems . nominations were also considered .
note : this list is not an endorsement of included hospitals , health systems or associated providers . leaders could not pay for inclusion on this list . leaders are presented in alphabetical order .
michael archuleta . director of it for mt . san rafael hospital ( trinidad , colo . ) . mr . archuleta joined mt . san rafael hospital , a critical access hospital , as director of it in 2012 . [ read more ]
pamela banchy , rn . cio of western reserve hospital ( cuyahoga falls , ohio ) . ms . banchy , who has more than 15 years of health it experience , joined western reserve hospital in 2012 . [ read more ]
daniel barchi . cio of newyork - presbyterian ( new york city ) . mr . barchi , who joined newyork - presbyterian in 2015 , led the hospital ' s telehealth program implementation , which formally launched in 2016 . [ read more ]
chris belmont . vice president and cio of university of texas md anderson cancer center ( houston ) . mr . belmont , who has more than 30 years of health it experience , joined university of texas md anderson cancer center in 2013 and has since led the center through technology overhauls such as a systemwide epic ehr implementation . [ read more ]
david bensema , md . cio of baptist health ( louisville , ky . ) . dr . bensema was appointed cmio of baptist health in 2013 . in 2014 , he was named cio of baptist health . [ read more ]
nancy birschbach . vice president and cio of agnesian healthcare ( fond du lac , wis . ) . ms . birschbach has been with agnesian healthcare since 1998 and currently is vice president and cio . [ read more ]
john bosco . senior vice president and cio of northwell health ( great neck , n . y . ) . mr . bosco , who has spent his career in it management , joined northwell health in 2004 as vice president and chief technology officer . [ read more ]
james brady , phd . area cio of kaiser permanente orange county ( calif . ) . dr . brady joined kaiser permanente orange county in 2013 and has since won the los angeles business journal 2015 cio of the year award and the himss 2015 distinguished fellows service award . [ read more ]
russ branzell . president and ceo of college of healthcare information management executives ( ann arbor , mich . ) . mr . branzell was ceo of loveland - based colorado health medical group before being named ceo of chime in 2013 . [ read more ]
paul browne . senior vice president of applied informatics and cio of tenet healthcare ( dallas ) . mr . browne was appointed cio of tenet healthcare in 2012 after taking on the role of senior vice president of the applied informatics department earlier that year . [ read more ]
bobbie byrne , md . executive vice president of consumer driven health and cio of edward - elmhurst health ( naperville , ill . ) . dr . byrne , who has been cio of edward - elmhurst health since 2009 , was appointed executive vice president of consumer driven health in 2016 . [ read more ]
matthew chambers . cio of baylor scott & white health ( dallas ) . mr . chambers was named cio of baylor scott & white health when it formed in 2014 . prior to this appointment , he was cio of scott & white healthcare . [ read more ]
carl christensen . senior vice president and cio of northwestern memorial healthcare ( chicago ) and cio of northwestern university ' s feinberg school of medicine ( chicago ) . mr . christensen joined northwestern university in 2010 as cio of the northwestern medical faculty foundation . [ read more ]
george conklin . senior vice president and cio of christus health ( irving , texas ) . mr . conklin joined christus health in 1998 after serving as cio of oklahoma city - based integris health for five years . [ read more ]
andy crowder . corporate senior vice president and cio of scripps health ( san diego ) . mr . crowder , who joined scripps health in 2016 , has almost 30 years of it and healthcare experience . [ read more ]
richard ( dick ) daniels . executive vice president and cio of kaiser permanente ( oakland , calif . ) . mr . daniels , who was appointed executive vice president and cio in 2015 , first joined kaiser permanente in 2008 as information technology senior vice president and business information officer . [ read more ]
randy davis . cio and vice president of support services at cgh medical center ( sterling , ill . ) . mr . davis joined cgh medical center in 1996 . throughout his career , he spent more than 30 years as an administrator for physician multispecialty group practices . [ read more ]
myra davis . senior vice president of information services and cio of texas children ' s hospital ( houston ) . ms . davis , who joined texas children ' s hospital more than a decade ago , was named senior vice president of information services and cio in 2012 . [ read more ]
jake dorst . chief innovation officer and cio of tahoe forest health district ( truckee , calif . ) . mr . dorst has been cio of tahoe forest health district since 2014 . [ read more ]
marcy dunn . senior vice president and cio of mainehealth ( portland ) . ms . dunn has been the senior vice president and cio of mainehealth since 2016 . [ read more ]
dee emon , bsn . vice president and cio of wake forest baptist medical center ( winston - salem , n . c . ) . ms . emon joined wake forest baptist medical center in 2014 and was named vice president and cio in 2015 . [ read more ]
ferdinand feola . vice president and cio of pocono medical center ( east stroudsburg , pa . ) . mr . feola joined pocono medical center in 2008 . [ read more ]
dave fiser . vice president and cio of cleveland clinic akron ( ohio ) general . mr . fiser has been vice president and cio of akron general since 2009 , and he continued to hold his role after cleveland clinic took full ownership of akron general in 2015 . [ read more ]
rick frederick . cio of cottage hospital ( woodsville , n . h . ) . in 2014 , mr . frederick became cio of cottage hospital , a 25 - bed critical access hospital , after spending time as the hospital ' s director of information technology . [ read more ]
renee fosberg . cio of emerson hospital ( concord , mass . ) . ms . fosberg is cio of emerson hospital , a 179 - bed hospital that hospitals & health networks named on the health care ' s most wired list in 2016 . [ read more ]
roland garcia . senior vice president and cio of baptist health ( jacksonville , fla . ) . mr . garcia took on the role of senior vice president and cio of baptist health in 2001 . [ read more ]
sreekant gottimukkala . vice president of information systems and cio of prime healthcare services ( ontario , calif . ) . in 2006 , mr . gottimukkala became cio of prime healthcare . [ read more ]
joy grosser . cio of university hospitals ( cleveland ) . ms . grosser ' s appointment as cio of university hospitals is recent — she took over the role in september 2016 . [ read more ]
c . martin harris , md . cio and chairman of the information technology division for cleveland clinic . not only is dr . harris the cio and chairman of the information technology division of cleveland clinic , but he ' s also a practicing physician and board - certified in internal medicine . [ read more ]
steve hess . cio of uchealth ( aurora ) . mr . hess became cio of aurora - based university of colorado hospital in 2009 and held that role through the organization ' s 2012 merger with three other systems and the subsequent formation of uchealth . [ read more ]
ross hurd . cio of lake chelan community hospital ( chelan , wash . ) . mr . hurd is cio of lake chelan community hospital , a 25 - bed critical access hospital . [ read more ]
mark jacobs . cio of delaware health information network ( dover ) . mr . jacobs is the inaugural cio of the delaware health information network , a statewide health information exchange . [ read more ]
kyle johnson . vice president and cio of eastern maine healthcare systems ( brewer ) . with more than 30 years of healthcare experience , ms . johnson is vice president and cio of emhs , a role she took on in 2014 . [ read more ]
liz johnson , ms , faan , fchime , fhimss , chcio , rn - bc - chief information officer , acute care hospitals & applied clinical informatics for tenet healthcare ( dallas ) . in her current role as cio of acute hospitals and applied clinical informatics , ms . johnson oversees the clinical systems used across tenet ' s more than 80 hospitals across the country . [ read more ]
beverly jordan , msn , rn . vice president and chief information and transformation officer of baptist memorial health care ( memphis , tenn . ) . ms . jordan has been working at baptist memorial health care for nearly 40 years . [ read more ]
mark kilborn . cio of springhill medical center ( mobile , ala . ) . mr . kilborn was appointed area vice president of allscripts professional services and cio of springhill medical center in 2000 . [ read more ]
mark lantzy . senior vice president and cio of indiana university health ( indianapolis ) . mr . lantzy , who has a 20 - year career in healthcare it , took over as senior vice president and cio of iu health in early 2016 . [ read more ]
ken lawonn . senior vice president and cio of sharp healthcare ( san diego ) . mr . lawonn joined sharp healthcare in 2014 , bringing more than 30 years of healthcare technology experience . [ read more ]
mary anne leach . senior vice president and cio of children ' s hospital colorado ( aurora ) . in 2007 , ms . leach was appointed senior vice president and cio of children ' s hospital colorado . [ read more ]
. senior vice president and cio of ascension ; ceo of ascension information services ( st . louis ) .
became the interim senior vice president and cio of ascension and ceo of ascension information services in july 2016 and took on the role permanently in october .
philip loftus , phd . senior vice president and cio of ssm health ( st . louis ) . dr . loftus joined ssm health as senior vice president and cio in january 2015 . [ read more ]
jonathan manis . senior vice president and cio of sutter health ( sacramento ) . with more than two decades of health it leadership experience , mr . manis was appointed senior vice president and cio of sutter health in 2006 . [ read more ]
edward marx . interim cio of nyc health + hospitals ( new york city ) . mr . marx is an executive vice president of clinovations , a healthcare and management consulting company within advisory board consulting and interim cio at nyc health + hospitals . [ read more ]
ed mccallister . senior vice president and cio of upmc ( pittsburgh ) . in 2014 , mr . mccallister took the reins as senior vice president and cio of upmc . [ read more ]
mark mcmath . senior vice president and cio of methodist le bonheur healthcare ( memphis , tenn . ) . since 2015 , mr . mcmath has held the role of senior vice president and cio of methodist le bonheur healthcare . [ read more ]
bruce metz , phd . senior vice president and cio of lahey health ( burlington , mass . ) . dr . metz has held various it leadership positions in healthcare and higher education for more than two decades . [ read more ]
michael mistretta . vice president and cio of virginia hospital center ( arlington ) . mr . mistretta , who has almost 30 years of healthcare leadership experience , became vice president and cio of virginia hospital center in 2015 . [ read more ]
dana moore . senior vice president and cio of centura health ( englewood , colo . ) . with more than 20 years of healthcare financial management experience , mr . moore joined centura health in 2001 . [ read more ]
janice newell . senior vice president and cio of providence st . joseph health ( renton , wash . ) . ms . newell , who serves as senior vice president and cio of providence st . joseph health , started her career as an officer in the air force . [ read more ]
daniel nigrin , md . senior vice president for information services and cio of boston children ' s hospital . dr . nigrin , who is board - certified in pediatric endocrinology and clinical informatics , earned his medical degree from baltimore - based johns hopkins university . [ read more ]
jim noga . vice president and cio of partners healthcare ( boston ) . before becoming vice president and cio of partners health care in 2011 , mr . noga held various roles at boston - based massachusetts general hospital , including cio and director of clinical applications . [ read more ]
joe norris . cio of new hanover regional medical center ( wilmington , n . c . ) . mr . norris joined new hanover regional medical center in 2011 as chief technology officer and was appointed cio in 2014 . [ read more ]
michael o ' rourke . senior vice president and cio of catholic health initiatives ( englewood , colo . ) . with more than 26 years of healthcare technology experience , mr . o ' rourke was appointed cio of catholic health initiatives in 2009 . [ read more ]
jaime parent . vice president of information services and associate cio of rush university medical center ( chicago ) . in addition to his role as rush ' s vice president of information services and associate cio , mr . parent is associate professor of health systems management at chicago - based rush university ' s college of health sciences . [ read more ]
marty paslick . senior vice president and cio of hospital corporation of america ( nashville , tenn . ) . mr . paslick has been part of hca for almost 30 years , moving from manager of clinical systems development to vice president of product development to vice president and coo . [ read more ]
doris peek , phd . senior vice president of information technology and cio of broward health ( ft . lauderdale , fla . ) . dr . peek has been in her current role as senior vice president and cio of broward health for the last decade . [ read more ]
fred peet . vice president of information technology and cio of yuma ( ariz . ) regional medical center . yuma regional medical center named mr . peet interim cio in april 2015 , and one month later he was promoted to the position permanently . [ read more ]
keith perry . cio of st . jude children ' s research hospital ( memphis , tenn . ) . mr . perry took on the role of cio of st . jude children ' s research hospital in august 2015 . [ read more ]
cindy peterson . vice president and cio of henry mayo newhall memorial hospital ( valencia , calif . ) . for the last 15 years , ms . peterson has led it staff and services as cio of henry mayo newhall memorial hospital . [ read more ]
marc probst . cio of intermountain healthcare ( salt lake city ) . mr . probst has 32 years of experience in it and healthcare services and has served on the federal healthcare information technology policy committee , which helped the government develop health it policy . [ read more ]
shafiq rab , md . cio of rush university medical center ( chicago ) . dr . rab took on the role of rush ' s cio on jan . 9 , 2017 . he was previously cio and senior vice president of information technology at hackensack ( n . j . ) university health network . [ read more ]
jayashree raman . vice president and cio of cooper university health care ( camden , n . j . ) . ms . raman has been in her current roles since 2012 , when she joined cooper university health care after serving as vice president of healthcare strategy and cio of waltham , mass . - based stanley healthcare solutions . [ read more ]
david rapp . vice president of supply chain and cio of wheeling ( w . va . ) hospital . mr . rapp was named cio and vice president of supply chain for the hospital in 2006 . [ read more ]
stephanie reel . vice provost for it and cio of johns hopkins university and vice president for information services of johns hopkins medicine ( baltimore ) . in 1994 , ms . reel became johns hopkins medicine ' s vice president for information services . [ read more ]
ed ricks . vice president of information services and cio of beaufort ( s . c . ) memorial hospital . prior to his current position at beaufort , mr . ricks was cio of samaritan medical center in watertown , n . y . [ read more ]
bert robles . executive vice president and cio of guthrie ( sayre , pa . ) . guthrie named mr . robles executive vice president and cio in june 2015 . [ read more ]
cris ross . cio of mayo clinic ( rochester , minn . ) . mr . ross has been cio of mayo clinic since 2012 , prior to which he was the executive vice president and general manager for clinical interoperability at surescripts , a health information network based in arlington , va . , minneapolis and beaverton , ohio . [ read more ]
robin sarkar , phd . cio of lakeland health ( st . joseph , mich . ) . dr . sarkar became cio of lakeland health in may 2015 . [ read more ]
katherine schneider , md . president and ceo of delaware valley accountable care organization ( villanova , pa . ) . dr . schneider was named ceo of delaware valley aco in 2014 , prior to which she was executive vice president and cmo of wayne , pa . - based medecision . [ read more ]
rick schooler . vice president and cio of orlando ( fla . ) health . since 2001 , mr . schooler has been vice president and cio of orlando health . [ read more ]
manish shah . senior vice president and cio of community health systems ( franklin , tenn . ) . mr . shah joined chs in 2013 as deputy cio , prior to which he was senior vice president at milwaukee - based aurora health care . [ read more ]
william showalter . senior vice president and cio of froedtert health ( milwaukee ) . mr . showalter has been in his current roles since june 2015 . [ read more ]
alan smith . senior vice president and cio of capella healthcare ( franklin , tenn . ) . in may 2011 , capella healthcare named mr . smith to his current roles . [ read more ]
steven smith . cio of northshore university healthsystem ( evanston , ill . ) . northshore named mr . smith cio in april 2012 , after he spent more than 11 years as chief technology officer of the organization . [ read more ]
brian sterud . cio of faith regional health services ( norfolk , neb . ) . mr . sterud , a chime certified cio , assumed his current role at faith regional in 2012 . [ read more ]
joey sudomir . senior vice president of innovative technology solutions and cio of texas health resources ( arlington ) . mr . sudomir joined texas health resources as vice president of it operations in 2013 . [ read more ]
phyllis teater . associate vice president and cio of the ohio state wexner medical center ( columbus ) . ms . teater has been cio of the medical center for the past seven years , since january 2010 . [ read more ]
joel vengco . vice president and cio of baystate health ( springfield , mass . ) . mr . vengco has been in his current roles since june 2012 . [ read more ]
deanna wise . executive vice president and cio of dignity health ( san francisco ) . since november 2011 , ms . wise has been as executive vice president and cio of dignity health , formerly known as catholic healthcare west . [ read more ]
eric yablonka . vice president and cio of university of chicago medicine and biological sciences . mr . yablonka has been in his current roles for the more than 15 years , beginning in 2001 . [ read more ]
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channel stuffing is a business practice in which a company , or a sales force within a company , inflates its sales figures by forcing more products through a distribution channel than the channel is capable of selling .

also known as trade loading , this can be the result of a company attempting to inflate its sales figures .

alternatively , it can be a consequence of a poorly managed sales force attempting to meet short term objectives and quotas in a way that is detrimental to a company in the long term .

channel stuffing has a number of long-term consequences for a company .

firstly , distributors will often return any unsold goods to the company , incurring a carrying cost and also developing a backlog of product inventory .

wildly fluctuating demand , combined with this excess inventory , leads to costly overtimes and factory shutdowns .

even mild channel stuffing can spiral out of control as sales works to make up for prior over-selling .

discounts used to drive trade loading can greatly affect profits , and even help establish gray market channels as salesmen no longer adequately qualify their prospects .

occasionally , distribution channels such as large retailers have been known to identify the practice of channel stuffing in their suppliers , and use the phenomenon to their advantage .

this is done by holding back on orders until the end of the suppliers ' quota period .

the supplier 's sales force then panics , and sells a large amount of the product under more favorable terms than they would under ordinary circumstances .

at the beginning of the next period , no new orders are placed , and , barring any action , the cycle is then repeated .

this affects customers , with gluts and shortages as buyers turn to competing products .

corporations have been known to engage in channel stuffing and hide such activities from their investors .

in the united states , the u.s. securities and exchange commission has in some cases litigated against such corporations , and private class-action suits have been engaged .

channel stuffing might also be part of a broader set of financial improprieties .

channel stuffing

a trading channel is a channel drawn on a security price series . . .
in industry parlance , what the sec is looking for is
channel - stuffing .
channel - stuffing is one of the most tempting — and most disastrous — ways that companies cook their books .
channel stuffing . investorguide . com . webfinance , inc . urltoken ( access : july 4 , 2018 ) .
channel stuffing is a deceptive business practice used by a company to inflate its sales and earnings figures by deliberately sending retailers along its distribution channel more products than they are able to sell to the public . channel stuffing typically would take place just before quarter - end or year - end so that management , fearful of bad consequences to their compensation , can ' make their numbers ' .
understand what a distribution channel is and how companies use them to move product . learn how to make a distribution channel . . . read answer > >
at no time during 2000 or 2001 did bristol - myers disclose that ( 1 ) it was artificially inflating its results through channel stuffing and improper accounting ; ( 2 ) channel - stuffing was contributing to a buildup in excess wholesaler inventory levels ; or ( 3 ) excess wholesaler inventory posed a material risk to the company ' s future sales and earnings .
in the meantime , it ' s worth knowing what channel - stuffing actually is . it ' s an interesting — and common — business phenomenon , but most people don ' t know that it exists . channel - stuffing can occur in almost any type of retail operation where products have to be shipped to retail sellers before they ' re actually bought by the public .
by channel stuffing , distributors temporarily increase sales figures and related profit measures for a particular period . this activity also causes an artificial bump up of accounts receivables . however , unable to sell the excess products , retailers will send back the surplus goods instead of cash to the distributor , who then must readjust its accounts receivable ( if it adheres to gaap procedure ) and ultimately its bottom line . in other words , stuffing always catches up with the company , because it cannot maintain sales at the rate it is stuffing . channel stuffing is not confined to the wholesale and retail trade ; it can take place in the industrial sector , high tech industry , and pharmaceutical industry as well . valeant pharmaceuticals is an egregious example of a company found guilty in 2016 of channel stuffing .
the problem with channel - stuffing is that although it makes a company ' s books look great in the short - term , in the long - term it ' s a sort of internal ponzi scheme : eventually it comes crashing down . in the us , it is a criminal offence : two medical device executives went to prison last year for 10 - and 20 - year stretches after they were found guilty of channel - stuffing .
in addition , as a result of its channel - stuffing , bristol - myers materially understated its accruals for rebates due to medicaid and certain of its prime vendors , customers of its wholesalers that purchased large quantities of pharmaceutical products from those wholesalers .
this sort of practice , called channel stuffing or trade loading , is often borne from the pressure of meeting sales targets . sales are recorded on shipment , thus the sales target is met in the short term . in the longer term , goods often end up being returned or sales in subsequent months are lower due to having ‘over - sold’ previously . this may seem harmless but would it still feel so to a buyer of a company which had been valued based on trading in a period where channel stuffing had occurred ?
a handful of commodity stocks continue to offer short - term trading opportunities as they move higher within a trend channel .
on august 4 , 2004 , the commission filed a civil action against bristol - myers alleging violations of the antifraud , reporting , books and records and internal controls provisions of the federal securities laws . the commission ' s complaint alleged that , from the first quarter of 2000 through the fourth quarter of 2001 , bristol - myers engaged in a fraudulent scheme to overstate its sales and earnings in order to create the false appearance that the company had met or exceeded financial projections set by the company ' s officers (
targets
) and earnings estimates established by wall street securities analysts . bristol - myers inflated its results primarily by : ( 1 ) stuffing its distribution channels with excess inventory near the end of every quarter in amounts sufficient to meet sales and earnings targets set by officers (
channel - stuffing
) ; and ( 2 ) improperly recognizing about $ 1 . 5 billion in revenue from sales associated with the channel - stuffing in violation of generally accepted accounting principles . when bristol - myers ' results fell short of the wall street analysts ' earnings estimates , the company used improper accounting , including
cookie jar
reserves , to further inflate its earnings . at no time during 2000 or 2001 , did bristol - myers disclose that : ( 1 ) it was artificially inflating its results through channel - stuffing ; ( 2 ) channel - stuffing was contributing to a buildup in wholesaler inventory levels ; ( 3 ) the buildup in wholesaler inventory posed a risk to bristol - myers ' future sales and earnings ; or ( 4 ) the company was using
cookie jar
reserves to further inflate its results . in march 2003 , bristol - myers restated its prior financial statements and disclosed its channel - stuffing activities and improper accounting .
facebook stock rallied to channel resistance above $ 190 after fourth quarter results and could trap late - to - the - party buyers in a reversal .
put that coffee down ! coffee is for channel - stuffers ! alec baldwin in the famous
always be closing
scene in the movie glengarry glen ross .
occurs when a company induces retailers along its distribution channel to substantially increase their purchases before they would , in the normal course , otherwise purchase products from a company .
the related plans can be quite ingenious – we’ve seen ‘secret’ warehouses used to store goods that are meant to have been shipped and side deals being done to force higher sales through at the year end . however , the repercussions of putting too many products into a distribution channel than the channel is able to sell can be far reaching .
artificially inflating current sales and earnings by shipping more goods than would normally be ordered . for example , an appliance manufacturer may inflate revenues and earnings in the current accounting period by shipping to retail stores more refrigerators , stoves , and dishwashers than the stores are likely to sell . the practice of channel stuffing borrows revenues and earnings from the future because overstocked customers will reduce orders in future periods .
these stocks have been within rising trend channels , but recently have broken the trend channel to the upside . such a breakout usually signals two potential outcomes : an acceleration of the trend . . .
timothy l . warren , associate regional director of the sec ' s midwest regional office , added ,
for two years bristol - myers deceived the market into believing that it was meeting its financial projections and market expectations , when , in fact , the company was making its numbers primarily through channel - stuffing and manipulative accounting devices . severe sanctions are necessary to hold bristol - myers accountable for its violative conduct , and deter bristol - myers and other public companies from engaging in similar schemes .
one of the chief responsibilities of a manager is to channel the talent and energy of each of his subordinates towards the meeting of corporate objectives . setting individual goals and monitoring progress against their achievement can be an extremely . . .
according to the complaint , mcafee defrauded investors into believing that it had legitimately met or exceeded its revenue projections and wall street earnings estimates during the 1998 through 2000 period . in reality , however , mcafee had used a variety of undisclosed ploys during the period to aggressively oversell its products to distributors in amounts that far exceeded the public’s demand for the products . while engaging in this “channel stuffing , ” mcafee improperly recorded the sales to distributors as revenue . mcafee offered its distributors lucrative sales incentives that included deep price discounts and rebates in an effort to persuade the distributors to continue to buy and stockpile mcafee products . mcafee also secretly paid distributors millions of dollars to hold the excess inventory , rather than return it to mcafee for a refund and consequent reduction in mcafee’s revenues . in other instances , mcafee used an undisclosed , wholly - owned subsidiary , net tools , inc . , to repurchase inventory that mcafee had oversold to its distributors . all of these actions were inconsistent with generally accepted accounting principles and led to mcafee’s october 2003 restatement of its financial results for 1997 through 2003 .
bristol - myers inflated its results primarily by ( 1 ) stuffing its distribution channels with excess inventory near the end of every quarter in amounts sufficient to meet its targets by making pharmaceutical sales to its wholesalers ahead of demand ; and ( 2 ) improperly recognizing $ 1 . 5 billion in revenue from such pharmaceutical sales to its two biggest wholesalers . in connection with the $ 1 . 5 billion in revenue , bristol - myers covered these wholesalers ' carrying costs and guaranteed them a return on investment until they sold the products . when bristol - myers recognized the $ 1 . 5 billion in revenue upon shipment , it did so contrary to generally accepted accounting principles .
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bristol - myers squibb company : lit . rel . no . 18822 / august 6 , 2004
securities and exchange commission v . bristol - myers squibb company , civil action no . 04 - 3680 ( d . n . j . ) ( filed aug . 4 , 2004 ) ( hochberg , j . )
the securities and exchange commission today announced that the honorable faith s . hochberg , united states district court judge for the district of new jersey has entered a final judgment order (
order
) against defendant bristol - myers squibb company in the above matter . the order , to which bms consented without admitting or denying the allegations in the commission ' s complaint , provides the following relief :
a permanent injunction against future violations of certain antifraud , reporting , books and records and internal controls provisions of the federal securities laws .
monetary remedies for the benefit of shareholders , including a civil penalty of $ 100 million plus a $ 50 million shareholder fund .
various remedial undertakings , including the appointment of an independent advisor to review bristol - myers ' accounting practices and internal control systems and periodically assess the status of remedial actions undertaken or planned by the company in those and other areas , such as financial reporting .
for further information , see litigation release no . 18820 ( august 4 , 2004 ) .
washington , d . c . , aug . 4 , 2004 - - the securities and exchange commission today announced that it filed an enforcement action against bristol - myers squibb company , a new york - based company whose largest division , the u . s . medicines group , is based in new jersey . the commission ' s complaint , filed today in the united states district court for the district of new jersey , alleges that bristol - myers perpetrated a fraudulent earnings management scheme by , among other things , selling excessive amounts of pharmaceutical products to its wholesalers ahead of demand , improperly recognizing revenue from $ 1 . 5 billion of such sales to its two largest wholesalers and using
cookie jar
reserves to meet its internal sales and earnings targets and analysts ' earnings estimates .
in settling the commission ' s action , bristol - myers agreed to an order requiring it to pay $ 150 million dollars and perform numerous remedial undertakings , including the appointment of an independent adviser to review and monitor its accounting practices , financial reporting and internal controls .
stephen m . cutler , director of the sec ' s division of enforcement , said ,
bristol - myers ' earnings management scheme distorted the true performance of the company and its medicines business on a massive scale and caused significant harm to the company ' s shareholders . the company ' s conduct warrants a stiff civil sanction . as our investigation continues , we will be focusing on , among other things , those individuals responsible for the company ' s failures .
from the first quarter of 2000 through the fourth quarter of 2001 , bristol - myers engaged in a fraudulent scheme to inflate its sales and earnings in order to create the false appearance that the company had met or exceeded its internal sales and earnings targets and wall street analysts ' earnings estimates .
when bristol - myers ' results still fell short of the street ' s earnings estimates , the company tapped improperly created divestiture reserves and reversed portions of those reserves into income to further inflate its earnings .
various remedial undertakings , including the appointment of an independent adviser to review , assess and monitor bristol - myers ' accounting practices , financial reporting and disclosure processes and internal control systems .
securities and exchange commission v . mcafee , inc . , civil action no . 06 - 009 ( pjh ) ( n . d . cal . ) ( january 4 , 2006 )
the securities and exchange commission today filed securities fraud charges against mcafee , inc . ( formerly known as network associates , inc . ) , a santa clara , california - based manufacturer and supplier of computer security and antivirus tools . the commission ' s complaint alleges that from the second quarter of 1998 through 2000 , mcafee misled investors when it engaged in a fraudulent scheme to overstate its revenue and earnings by hundreds of millions of dollars in violation of the federal securities laws . the complaint specifically alleges that , during the period 1998 through 2000 , mcafee inflated its cumulative net revenues by $ 622 million and that , for 1998 alone , mcafee overstated revenues by $ 562 million ( a misstatement of 131 percent ) .
mcafee has consented , without admitting or denying the allegations of the complaint , to the entry of a court order enjoining it from violating the antifraud , books and records , internal controls , and periodic reporting provisions of the federal securities laws . the order also requires that mcafee pay a $ 50 million civil penalty , which the commission will seek to distribute to harmed investors pursuant to the fair funds provision of the sarbanes - oxley act of 2002 . in addition , mcafee has agreed to appoint an independent consultant to examine and recommend improvements to mcafee’s internal accounting controls and revenue recognition and reserves practices to better ensure compliance with the federal securities laws . this proposed settlement is subject to court approval .
the complaint further alleges that mcafee took action to conceal the fraud from investors by , among other things , wrongly recording in its books the payments and discounts that it offered to distributors , and improperly manipulating reserve accounts to increase inadequate sales reserves and cover the costs of the distributor payments . the complaint alleges that mcafee defrauded investors by reporting false and materially misleading financial and other information in periodic reports , financial statements , and securities registration statements that mcafee filed with the commission , in press releases , and in other public statements .
the final judgment would enjoin mcafee from violating section 17 ( a ) of the securities act of 1933 , sections 10 ( b ) , 13 ( a ) , 13 ( b ) ( 2 ) ( a ) and 13 ( b ) ( 2 ) ( b ) of the securities exchange act of 1934 , and exchange act rules 10b - 5 , 12b - 20 , 13a - 1 , and 13a - 13 thereunder .
this is the fourth lawsuit that the commission has filed in connection with fraudulent accounting issues at mcafee . see
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urltoken
the time value of money is the idea that money presently available is worth more . . .
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this fraudulent practice is usually done in an attempt to hit compensation targets , or to raise the value of the stock or prevent its fall upon release of quarterly or annual results .
learn how to trade channels , a chart pattern that tells you where to enter , where to exit and even how long the trade may take .
these stocks are all moving within trend channels . with prices of these stocks trading near the extremes of those channels , there ' s an excellent trading opportunity .
buying secondhand items is a great way to save money , but these seven kids items should not be bought used .
the seattle - based e - commerce giant wants to create a platform catering to niche programming .
these stocks are currently trading near the bottom of trend channels but moving higher , presenting a buying opportunity .
as both a parent and an investor , build - a - bear workshop ( nyse : bbw ) has always struck me as a challenging business to operate . the chain , which lets kids make their own stuffed animals , has . . .
microsoft shares traded above $ 100 for the first time last week and could add to gains in the coming months .
learn about the primary differences between direct and indirect distribution channels , and under what circumstances a company . . . read answer > >
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take a deeper look into the development and purpose of the generally accepted accounting principles , also known as gaap , . . . read answer > >
find out the typical profit margin for a major retail company , and learn how it compares to the profit margins for other . . . read answer > >
the time value of money is the idea that money presently available is worth more than the same amount in the future due to . . .
a call option is an agreement that gives the option buyer the right to buy the underlying asset at a specified price within . . .
an annuity is a financial product that pays out a fixed stream of payments to an individual , primarily used as an income . . .
preferred stock refers to a class of ownership that has a higher claim on assets and earnings than common stock has .
a liability is defined as a company ' s legal financial debts or obligations that arise during the course of business operations .
the standard deviation is a statistic that measures the dispersion of a dataset relative to its mean and is calculated as . . .
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it doesn ' t look good , the wsj says . diageo has recently seen the disappearance of a president and a cmo :
the inquiry coincides with a period of tumult in diageo ' s executive ranks . the company announced in june that north american president larry schwartz would be retiring by the end of the year . since then , the company has also announced the departures of its chief marketing officer for north america and a president of national accounts in the u . s .
it recently named deirdre mahlan , currently chief financial officer , as president of diageo north america .
we are not saying this is what happened at diageo . let ' s let the sec probe take its course .
let ' s say you ' re at a company where sales are in decline , but your bosses are insistent that you ' ve got to show sales growth . you ' d be tempted to fudge the numbers somehow . ( in an amazing coincidence , that ' s the situation at diageo . volume sold in the us last year decreased 1 % ; the company only saw a sales increase of 3 % to $ 5 . 34 billion due to price increases . )
one way of showing more
sales
is to ship more cases of product to your distributors and retailers . you ' ve got a pretty good expectation that they ' re going to be sold eventually , so you book them as sales . hooray ! sales are going up !
the problem is that next month , when you call up those distributors to ask how much new product they need , the reply is ,
well , because you shipped us slightly more than we needed last month , we ' ve still got a bunch of stock sitting around . so this month we ' d like you to ship fewer cases .
uh oh . that one - month sales bump you showed is now going to turn into a sharp decline in the following month . so maybe you ' re tempted to ship extra product again , in the hopes that somehow sales will suddenly pick up dramatically and fix all your problems .
now you ' re into real trouble , because you ' re shipping products that no one wants , and booking them as revenue ( even though the revenues never arrive ) . and those unsold cases are piling up at distributor warehouses .
this sounds like a great idea ! and the distributor agrees . the unsold cases come back , and they can be written off against the original revenue as
sales returns ,
or something . they ' re going to look like defective units or stuff that customers bought , didn ' t like , returned and replaced with new product . and most people never look at the
sales returns
line in company accounts anyway .
like a ponzi scheme , this all comes crashing down . you end up shipping more product that can be sold , and accepting as returns more product than you sell , and eventually someone asks why it is that the company has become so unprofitable even though sales are growing .
and i thought that was not good because too much inventory might mess things up a bit .
how to start a business - on your mark , get ready , . . .
on your mark , get ready , go ! in the simplest of terms , that is how you start a business and then run like crazy to not only cross the finish line , but win the race . starting your own business could be a life - long dream , a family endeavor , or even a . . .
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how badly do you want your year - end performance bonus ? this is a question i was pondering today as we are hearing more frequently about individuals in companies who are engaging in activities that artificially inflate sales or shipments for the sake of hitting their targets . unfortunately , they don’t often think of this as fraud until it’s too late .
striking the right balance between setting ambitious revenue targets and incentivising people to ‘ do the right thing ’ is always a challenge . get it wrong , and someone will cross the line and ship those extra products or bring forward that big sale . get it right , and you will have a motivated team built on solid ethical foundations .
we are seeing more of these issues coming to light as individuals , placed under huge pressure to bend the rules by those afraid to deliver bad news , blow the whistle . and it is always worth bearing in mind , as we see every week in the press , that these issues , when they come to light , can have a big impact on the reputation of a business and life changing consequences for employees .
« economic crime is rising : has your organisation considered how it would respond ? | main | fake , nasty and bad for business . could food fraud happen to you ? »
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an illegal practice in which a company willfully sells more of its product to distributors than the distributors can sell to customers . the company makes these sales on credit , which temporarily boosts its accounts receivable and by extension its current assets . this makes the company look healthier than it really is which can raise its stock price . eventually , when the distributors are unable to sell the product they return it to the company instead of paying , which reduces the accounts receivable and brings the company ' s balance sheet in line with reality .
enhance current earnings at the expense of future sales , which leads to a slippery slope of needing to artificially boost future earnings as well .
can technology handle supply chain risk ? today ' s supply chain technology has a notable lack of risk management tools . developers need to change this to compete in a global market
ten best practices for audit committees : the public company audit committee now has an enhanced role and needs to revise some of its practices . here are some key areas to focus on
public defender : former assistant u . s . attorney provides an inside look on fraud prosecution
ecr ' s transparent legacy : like manufacturing processes , buying models continue to move toward opposite poles . your company ' s future could depend on which side it chooses
, but if there is a sense of pressure within the company to book revenue , past events have shown that not all the revenue was legitimate .
may work for awhile , however problems arise when high sales from past quarters are made at the expense of poor sales in another quarter .
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a fraudulent practice in which a company inflates its sales revenues by enticing wholesalers and / or retailers to order more product than they realistically expect to sell in the normal course of business . this is typically accomplished through extra - deep discounts and an understanding that the unsold product can be returned at a later date .


candie 's is a clothing brand started in 1978 .

originally a charles cole line of shoes from el greco inc. , the brand underwent several changes in ownership , and was purchased by iconix brand group in 1993 .

since 2005 , kohl 's department stores has had exclusive rights to the candie 's brand in all departments except shoes .

candie 's sells juniors ' jewelry and apparel .

candie 's has two fragrances : candie 's heartbreaker perfume collection and candie 's luxe eau de toilette perfume spray .

the brand has also added curtains and girls ' clothing and apparel .

in june 2001 , candie ’s launched a non-profit foundation called the candie ’s foundation .

the foundation 's mission is to fight teenage pregnancy .

sarah hyland is the current face of candie 's .

bella thorne and carly rae jepsen were the previous spokesperson in 2014 and 2013 while lea michele , vanessa hudgens , britney spears , dixie chicks , hayden panettiere , alyssa milano , fergie , lil ' kim , ashlee simpson , hilary duff , kelly clarkson , jenny mccarthy , vanessa carlton , ashanti and destiny 's child have also represented the brand .

candie ' s

today , candie’s remains one of the most recognized brands worldwide . fun , flirty and irreverent , candie’s is synonymous with pop culture .
candie’s was founded in 1981 with the now famous sexy , high - heeled wood bottom slide , called the “candie” . by the mid 1980’s , sales of candie’s slides soared to 14 million pairs . one out of every four women in america owned a pair of candie’s .
dress head to toe in your favorite colors with bright intimates . candie’s® bras and panties are a fun part of any outfit . florals , stripes and other graphic patterns adorn candie’s® shoes , including candie’s® pumps or wedges . grab a candie’s® handbag as the final finishing touch to your outfit . find all the beautiful details you love with candie’s® purses , accessories and clothing !
© 2018 kohl’s illinois , inc . , kohl’s® and kohl’s brand names are trademarks of kohl’s illinois , inc .
when you say the name candie’s , an image will pop into your mind . it may be your first pair of candie’s or your favorite candie’s ad . candie’s is pop culture and always has the “it” girl for its national ad spokesperson . the brand is worn by numerous celebrities and has been featured in tv and movies .
candie’s was founded in 1981 with the now famous , sexy , high - heeled wood bottom slide , called the “candie . ” by the mid 1980’s , sales of the candie’s slides soared to 14 million pairs and one out of every four women in america owned a pair !
the candie’s® girl knows what she wants from her career , her life and her style . she loves that the candie’s® collection takes her from monday morning to sunday brunch—and every day in between .
lea ' s fans are the same as candie ' s fans ,
an insider for the fashion brand told e ! news .
candie’s award - winning advertising is known for its sexy but playful concepts . over half of teens in the u . s . recall seeing candie’s advertising , thanks to the collection of campaign “it” girls including britney spears , fergie , destiny’s child , lea michele , vanessa hudgens , hilary duff , bella thorne , kelly clarkson , & jenny mccarthy .
flirty and girly , candie’s® clothing and accessories combine bold colors , patterns and delicate details to create a collection of on - trend apparel . embellishments like ruffles , lace and subtle shimmer make casual pieces pop , while candie’s® tops & tees , necklaces and other jewelry add a touch of sparkle to any outfit . revel in all the fun , feminine details in candie’s® shoes and apparel .
candie’s award winning advertising is noted for its sexy but playful concepts . past candie’s girls include lea michele , fergie , pat benatar , cheyenne kimball , hilary duff , ashlee simpson , kelly clarkson , destiny’s child , ashanti , alyssa milano , dixie chicks , jenny mccarthy , and britney spears . the brand is one of the most recognized in the country and is one of the top brands on the minds of the fast - growing “ millennials ” consumer segment . candie’s is sold exclusively at kohls department stores nationwide and kohls . com .
glee ' s resident red carpet diva is about to profit from her increasingly cooed - over sartorial style , as e ! news has exclusively learned that lea michele has been named the newest spokeswoman for candie ' s .
the candie ' s foundation educates america ' s youth about the consequences of teen pregnancy . we are a non - profit organization that works to shape the way youth in america think about teen pregnancy and parenthood . learn more
candie’s® creative director , sarah hyland , is always keeping an eye on flirty , of–the–moment trends—and she’s made sure her new campaign , sarah styles , has the latest day–to–night looks , signature pieces and style tips you’ll need this season .
as it is , she ' s stepping into some well - heeled shoes for the new gig . vanessa hudgens is candie ' s most recent celebrity spokeswoman , and the job has been filled in the past by britney spears , ashlee simpson , fergie and jenny mccarthy .
lea ' s rep could not be reached for comment and candie ' s has also remained mum on the stylish new appointment , though a source told e ! news that michele will appear in a series of print ads for the company later this year as part of her endorsement deal .
back in june , we noted hilary duff would become the face of candie ' s . perhaps because the poor girl ' s just not quite weighty enough to carry the role herself , candie ' s has decided to add a few more celebrities to heavy up its campaign adding
entourage
and former ' the o . c . ' star samaire armstrong ,
eurotrip
hottie and
ice princess : sweetie michelle trachtenberg and relative newcomer crunk & b artist ciara . the celebs will appear in tv , print and online ads to support the roll out of the brand in kohl ' s stores .
if you ask us , pretty panties are one of life’s basic necessities . shop our favorites
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the candie ' s foundation is a non - profit organization that works to shape the way the youth in america think about the devastating consequences of teen pregnancy and parenthood . we are an operating foundation that develops and runs communication campaigns to raise awareness about our cause .
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as we continue our work educating america ' s youth about the consequences of teen pregnancy through our campaigns , we would love to hear from you .
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each year millions of teens are exposed to the foundation ' s message , which encourages them to delay pregnancy and shows the realities of teen parenthood . our approach is unique : all of our ads feature celebrities that teens can relate to and speaks to them directly using their own language . we go beyond raising awareness ; our goal is to influence teen culture .
our campaigns are making a difference . research has shown that teen girls who have been exposed to the foundation and its messages are more likely to view teen pregnancy and parenthood as stressful and negative , and are more likely to be skeptical of the media ' s portrayal of teen pregnancy and parenting . teens exposed to the campaign also believe their peers should wait longer to have sex versus those who are not aware of the foundation and the education it brings about teen parenthood .
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in 2016 , the brand introduced sarah hyland as the first ever creative director . in addition to starring in each campaign , sarah will be influencing the development and design of each new collection .
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another key to the success of our campaigns is sharing our content with organizations around the country that are doing community - level teen pregnancy prevention programs . this way we reach teens simultaneously at the national level via pop culture as well as the grassroots level with a localized approach .