Controller

4 weeks ago

Chicago, United States Chicago Cosmetic Surgery and Dermatology Full time
Job DescriptionJob Description

Date: January 17, 2024

Position: Controller

Department: Finance (Administration)

Reports To: Practice Administrator and Medical Director

Position Summary:

Under the direction of the Medical Director/Founder, the Controller directs and supervises the complete accounting system and financial function of the company. This individual will oversee all aspects of the company's financial management, including budgeting, financial reporting, accounting, and auditing. This individual will also work closely with the executive team to ensure the company's financial health, growth and profitability, and compliance with all relevant regulations.

Essential Functions and Job Responsibilities:

  1. Primary Responsibilities
  • Develop and maintain financial systems, policies, and procedures to ensure accurate and timely financial reporting and analysis.
  • Ensure compliance with all relevant regulations, including tax laws and accounting standards.
  • Develop and implement financial policies and procedures to ensure the accuracy and integrity of financial reporting.
  • Prepare monthly, quarterly, and annual financial statements, including income statements, balance sheets, and cash flow statements.
  • Manage the company's accounts payable and accounts receivable functions.
  • Manage the company's cash flow and banking relationships.
  • Coordinate with the external auditors to ensure timely completion of audits and regulatory filings.
  • Provide financial leadership and support to ensure the achievement of business objectives.
  • Analyze financial data to identify trends and provide insights into the company's financial profitability, revenue growth, and cost efficiency.
  • Manage the company's budgeting and forecasting process to support strategic planning and decision-making.
  • Provide financial analysis and support to the executive team, including preparing financial models and forecasts.
  • Monitor and analyze financial performance, identifying areas for improvement and making recommendations to management.
  • Maintain strong relationships with key stakeholders, including investors, lenders, and regulatory agencies.
  • Participate in the development of strategic plans and annual budgets.
  • Analyze costs, pricing, variable contributions, sale results and the company's actual performance compared to business plans/budgets
  • Conduct reviews and evaluations for cost-reduction opportunities
  • Runs financial reports in NexTech and accounting software as needed
  • Reconcile Alle and ASPIRE rebates quarterly with bank
  • Reconcile Care Credit
  • Create month-end reports for all providers and companies (CCSD (Chicago Cosmetic Surgery and Dermatology), CSS, CCDR, JEC) to verify accuracy
  • Perform monthly financial close in NexTech PM system on last business day of month after close of business
  • Provides weekly reports of bank account values and performs transactions between accounts (JEC to CCSD, CCDR to CCSD)
  1. Revenue Cycle Management
  • Meets and oversees accounts receivable and aging activities with Revenue Cycle Coordinator
  • Along with Revenue Cycle Coordinator, review fee schedules annually or as needed; Assist with updating fee schedules in NexTech
  • Reviews with Revenue Cycle Coordinator patient/insurance collections accounts
  • Reviews monthly A/R reports for all accounts for all pay classes
  • Meets with Revenue Cycle Coordinator and Practice Administrator/Director bi-monthly to discuss challenges, which includes, but not limited to patient accounts, insurance companies, staff, workflow/load, suggestions for improvement
  1. Sales and Inventory Management
  • Prepare Sales Tax (review reports) and file and pay online
  • Review product and procedure sales, complete spreadsheets and prepare bonus for Patient Care and Store Associate staff quarterly
  • Evaluate needs and determine best practices for inventory purchasing with maximizing rebates, codes, and discounts with cosmetic consumables as well as store products on an ongoing basis.
  • Develop and monitor purchasing protocols for supplies and implement best practices.
  • Evaluate and negotiate contracts, leases, etc.
  1. Other Administrative Responsibilities
  • Prepare correspondence, documentation, or presentation materials for trainings or meetings
  • Add to office meeting agendas for staff education
  • Participate in office meetings
  • Creates a formal training plan for staff, performing evaluations post training
  • Performance reviews of new and current Finance and Billing staff
  • Monitor staffing needs. Assist with recruiting new hires
  • Performs other duties necessary or required by management

Performance/Competency Requirements:

  • Proficient computer skills (Word, Excel, QuickBooks, financial software)
  • Financial management
  • Strong ethical conduct
  • Self-directed and able to work without supervision
  • Excellent written and verbal communication skills, follow up skills
  • High level of attention to detail
  • Ability to multitask, prioritize, and manage time efficiently
  • Strong organizational skills
  • Ability to work as a team player

Education:

  • BS degree in accounting, economics, finance
  • MS degree in accounting, economics, finance preferred
  • Minimum of three (3) years of financial management experience in a health care office or clinical setting; Dermatology experience is highly regarded
  • Strong knowledge of accounting principles and practices, as well as tax laws and regulations
  • Excellent analytical and problem-solving skills
  • Strong attention to detail and accuracy
  • Ability to work independently and as part of a team
  • Excellent communication and interpersonal skills
  • Experience with financial modeling and forecasting
  • Strong computer skills, including proficiency in Microsoft Excel and accounting software
  • Extensive experience with practice management systems


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