Fran Spreer Albert: The Woman Behind the Numbers

The first thing you notice in Fran Spreer Albert’s office—after the welcoming jars of candy and snacks—are the photos.

More than a hundred photos fill the walls, reaching to the ceiling. Colorful flowers, stunning landscapes, and faraway places. Family, friends, and co-workers smiling and laughing, with Spreer Albert alongside many of them.

The photos represent, she said, “love, grounding, perspective, and pure joy.”

Taken together, they capture the people and moments that are most important to her, but also her essence—her vivacity, her passion, her joyfulness.

Trailblazing Path

Fran Spreer Albert, senior executive vice president, chief financial officer, and chief operating officer for the Albany Med Health System, is one of the relatively few women nationwide serving in a senior health care leadership role.

She joined Albany Medical Center in 2000 as vice president of finance, rose to become executive vice president and chief financial officer in 2016, and was promoted to chief operating officer in 2018.

In her current role, she oversees a wide array of services including financial reporting, payroll, budgeting, human resources, security, engineering and construction, energy management, maintenance, and environmental services.

Spreer Albert earned a degree in accounting from the University at Albany in 1988, then began her career at the accounting firm KPMG, where she worked with the health care and banking sectors.

But deep down, she knew that her ideal job would be at Albany Med.

“I was always attracted to health care because of the mission and the type of work they do,” she said. “And I knew how important Albany Medical Center was, both as a place where people can get the kind of specialized care that only we can provide and as an employer and economic driver for the whole region.”

What she didn’t realize was the impact her ascent would have on others.

When asked about her promotion to COO, she becomes pensive recalling how many people, and especially how many women, reached out to tell her how proud they were of her, and how important it was for her to be in that role.

“It was very moving,” she said. “I hadn’t thought much about it before, but I felt very proud that it was something that people wanted to see, and that they were waiting to see.”

This spring, UAlbany will honor her with the 2025 Stoneman Distinguished Alumni award, named for Katherine “Kate” Stoneman, Class of 1866, who “paved the way for women on multiple fronts.”

Family, Faith, and Community

According to Spreer Albert, coming from a family of strong women, her faith, hard work, and keeping her mind “sharp and clean” have all contributed to her success.

In addition, her father, who also worked in finance in health care, was hugely influential. He held Fran and her two older sisters to high standards, pushing them to excel in school, sports, and part-time jobs. “We weren’t treated as fragile,” she said.

Yet she admits that outside of work, she’s very laid back. She cherishes spending time with her family, including her mom, who still lives in Voorheesville where Fran grew up, five nieces, and four grandnieces. Especially dear to her is her daughter, Caroline, who will graduate from the University of Chicago this spring. But, she said, they don’t hold back about telling her what to do. “I take a lot of orders,” she joked.

She’s known two of her best friends since they were all 7-year-olds, and they frequently travel together for “girls’ weekends.” She loves attending all types of live performances—from concerts to sports—and in the summer can often be spotted at the Saratoga Performing Arts Center, where she’s a member.

Leadership Style

Whether at work or in her free time, Spreer Albert loves being around people, which is evident in her leadership philosophy.

Like her father, she has high expectations for those she works with, but she also strives to nurture her teams and bring out the best in people. “I offer guidance, then get out of the way,” she said, adding that she loves bringing in smart, motivated people and seeing them grow.

She sees mindset, attitude, and hard work as the big drivers of success. And she believes that a leader’s team is their most significant legacy. “Good leaders will foster camaraderie, unification, and striving for the same goal,” she said.

“Relationships and teamwork, and collaboration with as many people and talents as possible, are so important,” she added.

Managing Challenges

Problem-solving is one of Spreer Albert’s key skills, and during her nearly 25-year tenure, there has been no shortage of challenges requiring her attention, from the Great Recession of the late 2000s to more recently, the Covid-19 pandemic followed by the Great Resignation.

But challenges can be opportunities too, she said. “In this region, we have an aging population, not a growing population. For the health system, that’s both a challenge and an opportunity.”

When the challenges come hard and fast, she leans into her colleagues and support team. “I focus on the core values and foundational elements of what the health system does and how important it is to the region,” she said. “I remind myself that everything is cyclical, and how many highs and lows we as an organization have been through over the past nearly 200 years.”

Passion for Numbers— and for People

Spreer Albert has always been drawn to numbers, but she also believes that financial reports should tell a story.

When done correctly, she said, financial statements show what is being done well and what needs to change.

“The System’s financials and budget shouldn’t be a mystery,” she added. “Everyone should understand the point of it and what the goals are.”

As she works with her team to develop the strategic plan for the System for the next ten years and beyond, one of her goals is to make the finance functions more strategic and valuable.

“By integrating the finance function with operations, emphasizing partnerships and sharing expertise from diverse groups, we’ll gain a better understanding of where the needs are and what will benefit clinical operations most,” she said.

While she is dialed in to budgets and numbers and financial data sets, it’s her admiration for the people who have devoted themselves and their careers to research and medicine that stands apart and is nearly boundless.

“I’m so proud of our workforce,” she said, noting that the System employs people from nearly 100 different countries, but also has career opportunities for people who grew up two blocks away from a System hospital.

“There are pathways into the System for care, for education, and for employment,” she added.

Vision for the Future

She’s just as passionate about the System’s mission and its role in ensuring the physical and economic well-being of the community and the entire region.

“We can get to where we want to be in the next five or ten years,” she said, noting that maintaining independence and continuing to serve the community at the highest levels are two main goals. “We do this through competitive differentiation, financial stability, and operating at the highest levels of education and research.”

For Spreer Albert, that also means continuing to analyze and problem solve. “We want to stay five steps ahead of whatever’s coming at us and picture where we need to get ourselves to,” she said.

Her advice for others follows in that vein: “Look for opportunities to collaborate, ways to add value, and use your skills,” she said. “Focus on the work, not milestones, and ask yourself, where’s the next project? How can I do more?”

It’s the same advice she follows herself.