Peter Markell is currently Executive Vice-President of Administration and Finance, CFO & Treasurer at Partners HealthCare Systems, Inc., and has been a leading executive at Partners since 1999. His responsibilities as Vice President include financial oversight of $10 billion in operations with assets of approximately $13 billion, and management of over 3,000 employees within the areas of Partners Corporate Finance, Research Management, Research, Ventures & Licensing, Information Systems, Real Estate, Treasury and Human Resources.
As head of the Partners administrative functions, Mr. Markell views strong financial performance as the foundation to supporting the over-arching goals of Partners and is committed to positioning Partners so that the organization continues to prosper. Mr. Markell leads a number of strategic efforts aimed towards Care Redesign and Patient Affordability, to assure Partners remains a leader among world-renowned health care providers and evolves to meet the ever-changing needs of the marketplace and its customers. Another major focus of Mr. Markell’s is developing and nurturing talent within the organization, driving the creation of a larger human capital management strategy.
Prior to his roles as an executive at Partners HealthCare, Mr. Markell was a Partner at Ernst and Young from 1977-1998. At the beginning of his career, Mr. Markell was responsible for a variety of activities including mergers and acquisitions, financial strategies, taxes, Securities and Exchange Commission filings and interactions, and restructuring account executive expenditures. In his role as Partner, Mr. Markell was in charge of Human Resources and Administration, including the management of the merger and consolidation of Ernst & Whinney and Arthur Young in New England, which involved the integration and consolidation of 800 professionals. In this role, Mr. Markell developed expertise in compensation, employee management, and space and office management. Mr. Markell also served as Interim Chief Financial Officer at Massachusetts General Hospital from 1995-1996.
Mr. Markell is a Certified Public Accountant and earned his B.S./B.A. with concentrations in Accounting and Finance from Boston College in 1977. He sits on several boards including the Boston College Board of Trustees, Big Brother of Greater Boston, Courier Corporation, Eastern Bank, CRICO, McLean Hospital Board and Massachusetts Taxpayers Association.
Articles Peter Markell has written
Behind the Numbers: Our Finances
Every 90 days, Partners voluntarily issues a press release detailing our financial performance as a system. We do this out of a sense of obligation to be transparent with our patients, our employees, government, bondholders, the media as well as the rest of the health care marketplace.
Transparency on Our Finances
Occasionally, as part of the ongoing health care cost dialogue, the issue of hospital assets is raised and the question is asked – why do hospitals need “reserves”? Most hospitals and health systems across the state have some level of investment assets and there are good reasons for it.