St. Clair Health Announces Retirement of Senior Vice President and CFO Richard C. Chesnos
Vice President of Finance Eric J. Luttringer to Assume Role
PITTSBURGH, PA (January 12, 2022) – St. Clair Health announced today that Richard C. Chesnos will retire from his position of Senior Vice President and Chief Financial Officer effective April 1, 2022. Eric J. Luttringer will assume the role effective April 2, 2022.
Chesnos played a key role in the success of St. Clair since stepping into the role of Senior Vice President and Chief Financial Officer in 2006. Upon inheriting a bond rating of A- and a small operating loss, he astutely guided St. Clair’s finances to achieve the region’s highest bond rating (AA-) and consistently strong performance—among many other accomplishments.
According to Chesnos, “I saw an opportunity to reinvest back into the organization to
better serve the community and everyone associated with St. Clair.”
To that end, he oversaw expansions that nearly doubled the institution’s square footage and modernized its facilities and equipment, both critical elements in making St. Clair a perennial 100 Top Hospital®.
Additionally, Chesnos was an industry leader in hospital price transparency. St. Clair was the first hospital in the nation to introduce an online patient-friendly tool that takes the mystery out of healthcare costs. The Patient Estimates Tool—lauded by consumer advocates such as PatientRightsAdvocate.Org—became available in early 2016, nearly five years before the ongoing federal effort to make hospitals disclose their pricing.
“Rick has been an exemplary steward of St. Clair’s finances for the past 15 years,” said James M. Collins, President and Chief Executive officer, St. Clair Health. “His retirement is undeniably a loss for our organization, but we are fortunate that he built a very capable finance team, assisted for more than a decade by his successor.”
Eric J. Luttringer, currently Vice President of Finance, will assume the role of Senior Vice President and Chief Financial Officer effective April 2, 2022. He will work with the St. Clair senior leadership team and Board of Directors to maintain the organization’s strong financial profile to serve the community for generations to come.
“I have the utmost confidence in Eric as he steps into this senior leadership role. In our more than 19 years of working together, he has exhibited the leadership and other skills necessary to effectively direct the financial operations at St. Clair,” said Chesnos. “Eric’s institutional knowledge and experience will enable him to enhance the organization’s position as a low cost, high quality healthcare provider in southwestern Pennsylvania.”
Luttringer holds a Bachelor of Science in Business Administration in accounting from Duquesne University and a Master of Business Administration from Waynesburg University. He is a certified public accountant and is certified as a fellow by the Healthcare Financial Management Association.
About St. Clair Health
St. Clair Health is a nationally recognized, integrated health system with more than 2,500 employees and 600 physicians serving 500,000 residents of the region. It encompasses St. Clair Hospital; St. Clair Medical Group—a 135-physician multispecialty group; St. Clair Health Foundation; and other related entities. In 2016, St. Clair Health became a member of Mayo Clinic Care Network. As a leader in high value healthcare, it participates with all major insurers. For more information, visit: www.stclair.org.