New Chief Financial Officer Appointed for Bassett Medical Center

August 1, 2014

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Sue Andrews has been appointed Chief Financial Officer (CFO) of Bassett Medical Center effective September 1, 2014. Andrews, who has been with Bassett’s Division of Finance for 34 years and vice president since 2008, will succeed Nicholas Nicoletta, who announced last month that he is retiring December 31, 2014 as CFO of Bassett Medical Center and Corporate CFO of Bassett Healthcare Network.

In making the announcement, Bassett’s President and Chief Executive Officer, Vance M. Brown, M.D., said, “This is an extremely important transition that maintains the experience and knowledge base in the Division of Finance necessary to the financial infrastructure of Bassett Medical Center. I have tremendous confidence that Sue will continue with her outstanding work and leadership in this role.”

As CFO of Bassett Medical Center, Andrews will be the executive financial leader and strategist responsible for overseeing the financial matters of the institution as well as providing financial leadership and management under contract to certain entities within Bassett Healthcare Network.

“I am very humbled and honored to be entrusted with the Bassett Medical Center CFO responsibilities,” said Andrews. “I am thankful for all the mentorship and support over the years from so many leaders at Bassett, especially Mr. Nicoletta, and look forward to this opportunity now to be his successor.”

A search will also commence for a Corporate CFO who will be the financial, insurance, capital, debt and overall financial strategist for Bassett Healthcare Network, which includes the network’s six hospitals, First Community Care of Bassett, At Home Care, Templeton Foundation and Friends of Bassett.

Nicoletta has been at Bassett over 38 years, 27 of those in the Corporate CFO position guiding the financial futures of Bassett Medical Center and Bassett Healthcare Network through the maturation of the affiliates, and the capital planning and debt leveraging necessary for the major bricks and mortar initiatives that have occurred during his tenure. He has also developed a talented and long-tenured staff in Finance, which includes Andrews who he promoted to vice president six years ago.

“It has been an honor and now a proud moment to have Sue recognized for her many years of insuring Bassett’s financial integrity,” said Nicoletta. “She is meticulous in her every day professional approach to her staff, her colleagues and overall responsibilities. I am so proud to see Sue recognized with this wonderful vote of confidence from Dr. Brown and the board of trustees.”

Prior to becoming VP of the division, Andrews was senior director of corporate finance. She has been responsible for comprehensive management of revenue cycle, payroll, accounts payable, cash and asset management, and external audit coordination and oversight. Andrews has spearheaded various financial system implementations, developed and redesigned the patient finance division, and implemented controls and practices that have earned accolades from outside auditors. Her leadership, relationship building and customer service skills are well recognized within and outside of Bassett.

Andrews, who grew up in Sidney, N.Y., lives in Schuyler Lake with her husband Bruce.

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