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Release: Immediate

UIHC names Ann Madden Rice new chief financial officer

IOWA CITY, Iowa -- Ann Madden Rice, vice president and chief financial officer of the Mary Greeley Medical Center in Ames, has been named associate director and chief financial officer of the University of Iowa Hospitals and Clinics, effective May 3, 1999.

As UIHC's new chief financial officer and director of the Office of Financial Management and Control, Rice, 41, will have direct oversight of an annual operating budget in excess of $400 million.

Rice succeeds Kenneth H. Yerington, who is entering phased retirement after 33 years of service with the UIHC, most recently as director of financial management and control.

"Ann Madden Rice brings to the UIHC first-rate financial management experience, proven excellence in leadership, and fresh insight regarding the changing climate of health care," said R. Edward Howell, UIHC director and chief executive officer. "We're very excited and pleased to welcome her back."

Rice served two years as a financial analyst at the UIHC while pursuing her master's degree in accounting, which she received from the UI in 1983.

"I'm delighted to be coming back. The UIHC is a world-class institution," said Rice, a certified public accountant. "I was attracted to the UIHC's great programs and high quality of care. It's a great opportunity."

Rice, who was named an "up and comer" in the health care industry by Modern Healthcare Magazine in 1994, is a diplomate of the American College of Healthcare Executives and a fellow of the Healthcare Financial Management Association.

Howell said, "We're grateful for Ken Yerington's service, which has spanned a time of great growth and change in hospital services and facilities. We couldn't be more pleased to know that in Ann Madden Rice we have found a person who will build on that foundation of excellence and growth."

Rice, a native of Mason City, received a bachelor's degree in industrial administration from Iowa State University in 1979. She moved to Vermont in the early 1980s, returning to Ames in 1996 to join the leadership team at the Mary Greeley Medical Center. Her husband, Tom Rice, received his doctorate in political science at the UI in 1984 and is a professor of political science at Iowa State University.

"We're delighted to have Ann join our team," said Robert P. Kelch, M.D., dean of the UI College of Medicine. "We're confident she's going to be a tremendous asset, not only to the hospital and the university, but to the community as well."