Senior VP/CFO

3 weeks ago

Lawrence, United States Lawrence General Hospital Full time
JOB SUMMARY:

The CFO will function as a strategic partner to the Chief Executive Officer and to the executive leadership team. The CFO will establish strong relationships in order to promote teamwork; drive business strategy, initiatives and lead the finance function to provide proactive guidance, consultation and support to the operations team in the attainment of their business objectives and financial performance commitments. The CFO plays an active role with the Board of Trustees. In addition to staffing the Board Finance Committee, the CFO interacts with the Board at large and directly with most other committees. In addition to maintaining the high quality and accuracy of the organization's internal financial and accounting control systems, the CFO will be called on to provide financial leadership, creativity, and vision. Will focus on critical financial issues, develop a clear picture, and work with the team to develop accurate reporting. The CFO will help to better position this healthcare organization in achieving its financial and strategic objectives.

DUTIES AND RESPONSIBILITIES:
  • Plan, organize, coordinate, and control financial policies for the hospital to control receipt of revenue, expenditure of funds, and conservation of the organization's assets.
  • Ensures finance department has strong understanding and actively supports LGH programs and services, operating and financial performance, payer contracts, ACO participation, Medicare and Medicaid reimbursement and Section 1115 demonstration waiver program parameters and supplemental funding.
  • Supports LGH advocacy efforts to engage State and Federal authorities on reimbursement policies and initiatives, including the Section 115 waiver.
  • Advise on accountable care initiatives, including local clinically integrated network and Medicaid ACO.
  • Establish short and long-term financial plans of operation compatible with the hospital's strategic plan.
  • Direct, supervise, and encourage professional development of direct reports.
  • Review, interpret, analyze, and communicate monthly/annual financial reports and other financial data/business plans to management and the Board of Trustees.
  • Participate in strategic planning aligned with the Hospital's goals including market growth, revenue enhancement, and cost containment.
  • Work closely with the senior executive team to ensure a collaborative approach to problem solving.
  • Maintain a formal budget program with engagement from physicians and departmental leaders to evaluate and optimize performance.
  • Negotiate agreements with payors for health care services.
  • Keep abreast and ensure compliance with directives issued by governmental/regulatory agencies or third-party payors, especially Form 990.
  • Participate in discussions and planning on capital equipment purchases or lease arrangements. Oversee the annual Capital Budget.
  • Monitor cash flows and forecasting to meet operating and capital expenditure requirements.
  • Work closely with the Finance, Compliance, Audit & Risk, and Investment Committees of the Board of Trustees.
  • Plan educational programs in the area of departmental financial management for management/supervisory staff.
EDUCATION AND RELATED EXPERIENCE:

Required:
  • A bachelor's degree in an appropriate discipline (accounting/finance) and a master's degree in business administration, finance, or related field is required; a CPA is desirable.
  • Minimum of eight years of progressively responsible financial management experience within a complex health care setting.
  • Demonstrated competence in building and leading an effective and cohesive financial division.
  • Prior experience working effectively with and making presentations to a Board of Trustees.
  • Well-versed in healthcare finance, including reimbursement, billing procedures, managed care, payer contracting, and compliance.
  • Knowledge of the application of information technology for business and financial operations as well as the implementation of healthcare informatics

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