The Chief Financial Officer (CFO) provide financial expertise, advice and analysis to the hospital executives and hospital leadership teams through active participation as a member of the leadership team of the North Region hospitals. The CFO monitors daily activity, gross revenue, operating expenses and productivity reports and spurs corrective action where needed, identifies strategic and operational opportunities and communicates them to the hospital leadership teams.
Essential Functions
- Prepares financial projections for new projects, capital expenditures, or proposed changes in regional operations. Designs and prepares ad hoc reports.
- Leads monthly review of operating results for the Region or Hospital. Coordinates the preparation of monthly financial reports, variance analysis, and action plans.
- Develops and manages the hospital’s key performance indicators and provides leadership in improving finance and operations using such indicators.
- Analyzes variances from budget and provides leadership to managers in preparing action plans to correct variances.
- Leads Care Management, Utilization Management and HIM activitivies within the hospital in concert with Corporate Revenue Management.
- Leads revenue cycle, supply chain, labor management, and other corporate initiatives for the hospital in collaboration with Corporate leaders.
- Oversees charge capture at the facility and performs charge reconciliations to ensure appropriate charge capture on a daily and monthly basis.
- Ensures timely compliance with medical record documentation/deficiencies/work queue management to ensure timely submission of claims
- Leads preparation of the hospital’s operating and capital budget in concert with Corporate Financial Planning.
- Oversees the review, approval, and financial monitoring of all capital projects at the facility and oversees the maintenance of the overall long-term capital plan for the hospital.
- Anticipates future trends, threats and opportunities affecting financial results for the hospital.
- Interacts with physicians in support of hospital financial operations goals including understanding physician needs and educating physicians in the hospital’s financial dynamics.
- Updates and manages the preparation of the hospital’s 5-year strategic plan in coordination with Corporate Finance.
- Provides leadership and educates other hospital team members regarding financial management & reporting.
- Manages supporting staff such as administrative support and financial analysts, as needed.
- Follows corporate standards for financial analysis and projections.
- Works closely with the Sr. Vice President of Finance for corporate initiatives such as information systems, long range financial planning, labor management, budget, and accounting.
- Understands the proper use of financial systems to be efficient and effective in the analysis of operations.
- Follows internal controls and policies and procedures and actively promotes compliance.
- Performs other duties as assigned by the Hospital President and/or Sr. Vice President of Finance.
- Knowledge of healthcare reimbursement regulations and compliance requirements.
Qualifications
Education/Training
- Bachelor’s Degree in Accounting, Finance, Taxation, and/or Business Administration is required.
- Master's Degree and CPA is highly preferred.
Experience
- Minimum of 10 (ten) years financial leadership experience within healthcare is required.
- Experience working in a treasury function.
