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Essentia’s Morris recognized as CFO of the Year honoree
December 20, 2023 By: Louie St. George
The Minneapolis/St. Paul Business Journal has recognized Essentia Health's Traci Morris as a 2023 Chief Financial Officer of the Year honoree.
Morris has served as Essentia’s chief financial officer since 2018, previously working for Benedictine Health System before those two organizations came together in 2008. In her role, Morris oversees the finances for a health system that has nearly 16,000 employees, including about 2,350 physicians and advanced practitioners. Essentia operates 14 hospitals and 78 clinics across Minnesota, North Dakota and Wisconsin.
The Duluth resident was instrumental in helping Essentia secure funding for the transformational Vision Northland project. The $900 million project featured 942,000 square feet of new construction and replaced the century-old St. Mary's Medical Center with a new, state-of-the-art hospital that anchors Duluth’s Medical District. It opened in July 2023, concluding four years of construction that doubled as the largest private investment in the city's history.
"To see a project of this magnitude through from start to finish was a once-in-a-lifetime experience," Morris said. "I am grateful for the opportunity to have worked with so many talented individuals along the way, from early Board of Directors approvals to the financing road shows, managing the construction budget, and finally to the patient-move day in July. To top it all off, this project came in on time and on budget through the hard work of so many."
Morris has a bachelor's degree in accounting from Minnesota State-Moorhead, as well as her MBA (with a focus on health care management) from Concordia University in St. Paul, Minnesota.
Despite the financial challenges confronting health care, especially rural health care, Morris loves her work.
"I especially enjoy working with our great colleagues here at Essentia," she said. "This recognition is truly a reflection of the strength and support of our team members. I am blessed to work with such value-driven individuals."
Morris has served as Essentia’s chief financial officer since 2018, previously working for Benedictine Health System before those two organizations came together in 2008. In her role, Morris oversees the finances for a health system that has nearly 16,000 employees, including about 2,350 physicians and advanced practitioners. Essentia operates 14 hospitals and 78 clinics across Minnesota, North Dakota and Wisconsin.
The Duluth resident was instrumental in helping Essentia secure funding for the transformational Vision Northland project. The $900 million project featured 942,000 square feet of new construction and replaced the century-old St. Mary's Medical Center with a new, state-of-the-art hospital that anchors Duluth’s Medical District. It opened in July 2023, concluding four years of construction that doubled as the largest private investment in the city's history.
"To see a project of this magnitude through from start to finish was a once-in-a-lifetime experience," Morris said. "I am grateful for the opportunity to have worked with so many talented individuals along the way, from early Board of Directors approvals to the financing road shows, managing the construction budget, and finally to the patient-move day in July. To top it all off, this project came in on time and on budget through the hard work of so many."
Morris has a bachelor's degree in accounting from Minnesota State-Moorhead, as well as her MBA (with a focus on health care management) from Concordia University in St. Paul, Minnesota.
Despite the financial challenges confronting health care, especially rural health care, Morris loves her work.
"I especially enjoy working with our great colleagues here at Essentia," she said. "This recognition is truly a reflection of the strength and support of our team members. I am blessed to work with such value-driven individuals."
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