The Chief Financial Officer assists the COO, President, CEO and other hospital leadership in managing the financial and legal aspects of the business. In addition, this position has operational responsibility for the accounting, treasury, finance, billing and collections, non-clinical risk management, purchasing materials warehousing and Health Information Management of the company. Due to the size of the company, this position must maintain extensive skills in the areas being supervised, and will often assist those reporting departments in a direct, hands-on manner. A critical need to balance time spent on operational areas versus strategic management issues requires a fast-working, confident, critical thinker who can juggle multiple high priority projects simultaneously.
- Assists company leadership in the overall process of management by providing input on financial, legal, strategic planning and/or operational matters as they affect the business.
- Recommends appropriate policies and procedures to enhance the safety of assets or operational efficiency.
- Actively participates in strategic planning through the development and dissemination of budgets, forecasts, models and other data. Provides feedback on the financial or statistical results of operations with suggestions for improvement.
- Responsible for accounting, budgeting and analysis, capital planning, patient financial services and revenue cycle functions.
- Continuously evaluates economic, social and government influences and interprets their effects on the hospital’s financial performance.
- Plans, implements and evaluates long-term and short-term financial goals and benchmarks, ensuring compliance with legal and regulatory requirements, to ensure the long-term financial future of the hospital.
- Leads the establishment and implementation of system financial goals, initiatives and the evaluation and implementation of revenue growth strategies from new and existing programs and services.
- Develops and coordinates the operational and capital budget process including maintenance of Charge Description Master.
- Oversees gathering and analyzing of all financial data and information to ensure the hospital is operating within budget and to determine how to allocate funds to various areas.
- Prepares detailed reports outlining the hospital’s financial position and communicates financial information to hospital leadership.
- Ensures compliance with closing calendar, planning deadlines and reporting requirements.
- Serves as a prudent fiscal steward of the hospital’s resources and leads the identification and implementation of cost management strategies throughout the system to remain competitive and manage through health care reform.
- Proactively advises and educates management on all business aspects which financially impact the hospital’s operations.
- Manages treasury functions of the company by ensuring proper controls on incoming and outgoing cash as well as deciding on timing and amounts of cash outflows.
- Works with lending institutions on all items related to lending requirements and management of loans.
- Maintains professional growth and development through seminars, workshops and professional affiliations to keep abreast of latest industry trends.
- Supports process change improvement.
- Recruits, hires, trains and provides organizational support for the key areas of operational responsibility/
- Dialogues with middle and upper management regarding any issues and concerns affecting efficiency, productivity and/or morale as they relate to those areas assigned.
- Responsible for communication of pertinent information to staff on daily basis.
- Responds to issues of harassment and discrimination per company policy.
- Completes employee evaluation(s) in a timely manner per company policy.
- Education: Bachelor degree from a recognized university in field of finance, accounting or health care administration is required. Graduate course work or degree in similar fields is preferred.
- Licensure/Certification: None required. Certified Public Accountant and/or Certified Management Accountant preferred.
- Experience: Minimum of five years progressive leadership experience in health care finance required (hospital environment preferred). Minimum of five years management experience required.