Chief Financial Officer

La Rabida Children's Hospital•Chicago, IL

8d•Onsite

About The Position

The Chief Financial Officer (CFO) serves as the senior financial executive for La Rabida Children's Hospital and is responsible for the overall financial stewardship, financial strategy, planning, reimbursement, revenue cycle oversight, budgeting, treasury management, decision support, and long-term financial sustainability of the organization. The CFO provides executive leadership and collaborates closely with the CEO, executive team, medical leadership, department directors, and the Board of Trustees to ensure the hospital maintains strong financial performance while advancing its pediatric clinical mission. Unlike the Controller, whose primary focus is accounting operations and financial reporting, the CFO is responsible for organizational financial strategy, business planning, reimbursement optimization, capital planning, payer contracting support, revenue integrity, and enterprise financial performance.

Requirements

Bachelor's degree in Finance, Accounting, Business Administration, Healthcare Administration, or related field.
Minimum 10 years of progressive healthcare finance experience.
Minimum 5 years in a senior finance leadership role.
Hospital finance experience required.
Experience with healthcare reimbursement methodologies.
Experience presenting to executive leadership and governing boards.
CPA designation preferred.
Finance and Reimbursement
Healthcare financial management
Budgeting and forecasting
Revenue cycle operations
Medicare reimbursement
Medicaid reimbursement
Cost reporting
Provider-based billing
Managed care contracting
Net revenue valuation
Service line profitability analysis
Leadership
Executive communication
Strategic planning
Board relations
Team development
Change management
Financial stewardship
Systems
Strata
Epic ERP/General Ledger Systems
Microsoft Excel (advanced)
Business Intelligence and Decision Support
Key Performance Indicators (KPIs)

Nice To Haves

Master's Degree preferred (MBA, MHA, or related discipline).
Experience in pediatric, specialty, rehabilitation, or behavioral health hospitals.
Experience with Medicaid managed care.
Experience with Medicare cost reporting.
Experience with provider-based billing programs.
Experience with healthcare financial turnaround or performance improvement initiatives.
Experience supporting managed care contract negotiations.

Responsibilities

Serve as the senior financial advisor to the CEO and executive leadership team.
Lead development of the hospital's financial strategy and long-range financial plans.
Provide financial guidance for organizational growth initiatives and strategic partnerships.
Present financial performance and forecasts to the Board of Trustees and Finance and Audit Committees.
Translate complex financial information into actionable recommendations for leadership.
Participate in enterprise strategic planning and organizational decision-making.
Direct annual operating and capital budgeting processes.
Develop rolling forecasts and long-range financial projections.
Monitor organizational financial performance against budget and strategic targets.
Lead service line profitability analyses.
Oversee productivity, labor, and expense management initiatives.
Direct financial modeling of new clinical programs and business opportunities.
Ensure department leaders receive meaningful financial information and support.
Provide executive oversight of Revenue Cycle operations.
Monitor key revenue cycle metrics including: Days in A/R, Gross collection rates, Denial rates, Cash collections, Bad debt expense, Point-of-service collections.
Oversee net patient revenue estimation methodologies.
Direct reimbursement strategy related to Medicare, Medicaid, Managed Medicaid, and Commercial payers.
Support payer contract modeling and negotiations.
Oversee provider-based billing and reimbursement optimization initiatives.
Ensure accurate charge capture and revenue integrity processes.
Oversee organizational liquidity and cash flow.
Develop short- and long-term cash forecasts.
Manage banking relationships.
Monitor debt compliance and financial covenant performance.
Oversee investment activities consistent with Board policies.
Develop strategies to maximize cash flow and working capital.
Evaluate financial viability of strategic initiatives.
Lead business case development for major capital projects.
Direct financial due diligence activities for affiliations, partnerships, and acquisitions.
Assess risks and opportunities associated with operational initiatives.
Develop organizational financial performance dashboards.
Monitor healthcare market trends and potential impacts on financial performance.
Provide executive oversight of accounting operations through the Controller.
Review monthly financial statements and executive financial reports.
Ensure compliance with GAAP and applicable healthcare regulations.
Review audit findings and corrective action plans.
Ensure timely completion of annual audits, tax filings, and cost report submissions.
Maintain effective enterprise-wide financial controls and compliance processes.
Provide oversight of financial analytics and decision support functions.
Direct development of service line profitability reporting.
Oversee payer mix analysis and reimbursement forecasting.
Lead development of physician and clinic financial performance reporting.
Ensure effective use of Strata and financial analytics tools.
Support operational leaders with financial data and analytic resources.
Oversee financial management of grants and restricted funds.
Ensure compliance with federal, state, and foundation funding requirements.
Support grant application financial modeling.
Monitor grant performance and reporting requirements.
Lead and develop the finance leadership team.
Establish performance expectations and accountability standards.
Build a culture of financial stewardship and operational partnership.
Identify and develop future financial leaders.
Promote continuous improvement and process automation.
Performs other duties as assigned.