Senior Vice President of Financial Operations

2 weeks ago

Knoxville, Tennessee, United States Covenant Health Full time

Senior Vice President of Financial Operations

Full-time, 80 hours per pay period, Day Shift

Covenant Medical Group is a prominent healthcare organization under Covenant Health, employing over 300 esteemed physicians and providers across a diverse range of specialties in multiple locations. Our areas of expertise encompass cardiology, cardiothoracic surgery, endocrinology, gastroenterology, general surgery, infectious disease, neurology, obstetrics and gynecology, orthopedic surgery, physical medicine and rehabilitation, primary care, pulmonology, reproductive medicine, rheumatology, sleep medicine, and urology.

Position Overview:

The Senior Vice President of Financial Operations is responsible for the strategic oversight and management of the financial resources within Covenant Medical Group. This role includes direct supervision of various financial departments such as General Accounting, Cost Accounting, Accounts Payable, Budgeting, and Reimbursement. The position reports to the facility's President & CAO for operational duties and to the EVP Finance for corporate responsibilities.

Key Responsibilities:

  • Oversee all financial resources effectively.
  • Manage human resources and ensure the achievement of strategic goals for the Financial Services Division.
  • Collaborate with medical staff and other system members to enhance service quality for patients.
  • Facilitate processes to address capital requirements efficiently.
  • Prepare and ensure timely submission of federal, state, and third-party financial reports as necessary.
  • Stay informed about economic trends and changes in healthcare, assessing their implications for operations while educating the Senior Leadership team.
  • Lead the organization by envisioning the future and guiding financial strategies based on historical insights.
  • Provide budget planning guidelines and present budgetary and performance objectives to the corporate office.
  • Coordinate with Risk Management to ensure adequate insurance coverage to mitigate liabilities and losses.
  • Supervise the analysis of costs, charges, and rates, making recommendations to support organizational activities.
  • Revise rate structures as needed.
  • Actively participate as a member of the Senior Leadership Team.
  • Promote the desired culture and environment of Covenant Health.
  • Maintain comprehensive knowledge of business results by Product Line and make strategic recommendations based on projected outcomes.
  • Establish and maintain accounting systems that meet organizational requirements, providing accurate reports of assets, liabilities, and financial transactions.
  • Evaluate information system needs to support financial services and assist in the development of new applications.
  • Review and analyze monthly financial statements and operating reports, providing recommendations for cost containment and revenue enhancement.
  • Coordinate financial services with other departments and act as a resource for record-keeping and financial information processing.
  • Serve as a liaison to corporate Information Services departments.
  • Perform additional duties as assigned.

Qualifications:

Education:

Master's degree in Business Administration or Accounting, or CPA certification.

Experience:

A minimum of seven (7) years of experience, preferably in a large, multi-entity hospital environment.

Licensure:

No specific licensure required.

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