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Chief Financial Officer
3 weeks ago
$140K-180K+ Signing Bonus + Paid Relocation + Full Benefits + Signing Bonus
Role Overview: Strategic Financial Leadership
The Chief Financial Officer (CFO) is an integral member of the senior leadership team, responsible for the overall financial and fiscal management of a major healthcare facility. This is a critical leadership position that actively participates in the financial and functional decision-making processes necessary for the successful attainment of the facility's operational, clinical, and financial goals.
The CFO is accountable for all day-to-day fiscal operations, reporting, revenue cycle performance, and strategic budgeting. This position reports directly to the facility's Chief Executive Officer (CEO).
On-site, 5 days per week.
Seniority: Executive Level
Essential Functions & Strategic Accountabilities
I. Financial Reporting & Controls
- Ensure the timely and accurate completion of all monthly financial statements and corporate-required reports (including monthly operating reports, certifications, disclosures, and forecasts).
- Maintain impeccable financial integrity by ensuring all balance sheet accounts are reconciled monthly, in compliance with corporate policies and standards, with timely identification and correction of all outstanding variances.
- Establish, implement, and rigorously enforce accounting and business office policies, procedures, and internal controls to guarantee a clean annual audit with no material adjustments or deficiencies.
- Oversee and approve all computer access privileges (SAF's) to maintain system security and ensure access is terminated for departing employees.
- Direct the entire Revenue Cycle operation to ensure timely collection of accounts receivable, minimization of uncompensated care, and optimization of net revenue.
- Proactively monitor and analyze key revenue cycle metrics (e.g., cash collections, AR days, bad debt, and denial rates) to identify issues and implement immediate, effective corrective actions.
- Ensure Front End Revenue Cycle processes are fully effective, including 100% insurance verification, accurate determination of patient financial portions, proper approval of discounts/charity care, and effective upfront collection logging.
- Maintain expert working knowledge of federal, state, and managed care reimbursement methodologies to ensure accurate facility payment and precise recording of revenue deductions.
- Actively participate in managed care contracting and other business development activities to maximize net revenue.
- Lead the preparation of the annual operating budget and participate in the annual strategic planning process that serves as the basis for the budget.
- Provide ongoing, in-depth analysis of variances from budget and collaborate with the CEO and department managers to implement necessary changes to achieve financial goals.
- Prepare annual capital budgets and Capital Equipment Requests, ensuring assets and related depreciation are accurately recorded.
- Provide financial leadership, guidance, and training to facility managers, offering routine feedback regarding departmental financial performance and productivity goals.
- Ensure compliance with Group Purchasing contracts and monitor purchasing to keep supply costs within budgeted levels.
- Serve as a trusted strategic partner to the CEO, ensuring open communication and positive collaboration to achieve facility objectives.
- Supervise and lead the Accounting, Patient Accounting, Health Information Management (HIM), Materials Management, and any other assigned departments. Ensure departments are adequately staffed, trained, and managed.
- Provide financial expertise and conduct pro-forma analysis for planning and launching new services.
- Maintain a current, thorough knowledge of healthcare industry trends and regulatory changes to ensure the facility remains prepared and compliant.
Education and Experience
- Education: Bachelor's degree in Accounting or a business-related field. Master's degree preferred.
- Experience: Minimum 3 years of successful CFO experience in a healthcare setting is required, specifically managing facility-level financial operations. (10+ to 15 years total experience desired).
- Seniority: Management/Executive level experience required.
- Preference: Previous experience in the proprietary (for-profit) healthcare system environment is highly preferred.
- Preference: Previous Behavioral healthcare experience is highly preferred (specifically for profit, inpatient beds).
- Proven, advanced financial analysis skills and ability to think strategically and solve complex problems.
- Demonstrated ability to lead and manage a multi-level team, including hiring, performance accountability, and corrective action.
- Expert knowledge of Month End Close procedures and Expense Management.
- Excellent written and verbal communication skills, including the ability to influence and train facility managers.
- Ability to lead with a high degree of emotional intelligence and ethics.
- Proficiency with information technology and software packages, including Microsoft Excel and Word.
- Ability to work professionally with sensitive, proprietary data while maintaining strict confidentiality.
- CPA Designation is highly preferred.
