Chief Financial Officer (CFO), Full Time, Job ID # 1827258

Palmetto General Hospital•Hialeah, FL

21d•Onsite

About The Position

The Chief Financial Officer (CFO) serves as the senior financial executive of the hospital and is responsible for the strategic leadership, financial management, and operational oversight of all financial functions. As a member of the Hospital Executive Leadership Team, the CFO partners with the Chief Executive Officer (CEO), medical staff, department leaders, and corporate leadership to ensure the organization's financial strength, regulatory compliance, and long-term sustainability. The CFO provides leadership over accounting, budgeting, financial planning and analysis, treasury, revenue cycle oversight, reimbursement, managed care, capital planning, supply chain finance, and financial reporting. The CFO is responsible for developing strategies that improve financial performance while supporting high-quality patient care and organizational growth.

Requirements

Bachelor's degree in Finance, Accounting, Business Administration, or related field.
Master's degree in Business Administration (MBA), Finance, or Accounting preferred.
Certified Public Accountant (CPA) designation preferred.
Minimum of 7-10 years of progressive financial leadership experience in a hospital or healthcare setting.
Proven experience in financial planning and analysis, budgeting, accounting, treasury, revenue cycle management, and healthcare reimbursement.
Strong understanding of healthcare regulations, compliance, and reimbursement methodologies (Medicare, Medicaid, Commercial Insurance).
Experience with financial systems and reporting tools.
Excellent strategic thinking, analytical, and problem-solving skills.
Exceptional communication, presentation, and interpersonal skills.
Demonstrated ability to lead and manage a diverse team.
Experience presenting to Boards of Directors and executive leadership.

Nice To Haves

Master's degree in Business Administration (MBA), Finance, or Accounting.
Certified Public Accountant (CPA) designation.

Responsibilities

Serve as a strategic advisor to the Hospital CEO and Executive Leadership Team.
Develop and execute the hospital's financial strategy in alignment with organizational goals.
Present financial results, forecasts, and strategic initiatives to the CEO, Board of Directors, Finance Committee, and Corporate Leadership.
Provide financial leadership for hospital expansion, new service lines, physician alignment, and strategic initiatives.
Foster a culture of accountability, collaboration, and continuous improvement.
Direct and oversee all hospital financial operations, including: General Accounting, Financial Reporting, Financial Planning & Analysis (FP&A), Budgeting and Forecasting, Treasury and Cash Management, Payroll, Accounts Payable, Capital Asset Management, Fixed Assets, Internal Controls, Financial Systems.
Ensure timely preparation of: Monthly financial statements, Annual operating and capital budgets, Cash flow forecasts, Variance analyses, Board reports, Regulatory financial reports, Annual audited financial statements.
Provide executive oversight of revenue cycle operations, including: Patient Financial Services, Patient Access, Health Information Management (HIM), Clinical Documentation Improvement (CDI), Coding, Billing, Collections, Denial Management, Revenue Integrity.
Monitor and improve key performance indicators including: Days in Accounts Receivable (AR), Net Collection Rate, Clean Claim Rate, DNFB (Discharged Not Final Billed), DFNC (Discharged Final Not Coded), Bad Debt, Cash Collections, Point-of-Service Collections, Revenue Capture.
Collaborate with revenue cycle vendors and hospital leadership to maximize reimbursement and improve operational efficiency.
Oversee reimbursement strategies related to: Medicare, Medicaid, Commercial Insurance, Managed Care, Self-Pay, Medicare Cost Reports, Medicaid Cost Reports, Supplemental payment programs (LIP, DSH, UPL, DPP, and applicable state programs), Value-Based Purchasing, Quality incentive programs.
Analyze reimbursement trends and recommend strategies to optimize revenue.
Lead the annual budget and long-range financial planning process.
Prepare monthly financial forecasts and cash flow projections.
Analyze hospital financial performance and operational trends.
Evaluate service line profitability and physician practice performance.
Develop productivity and labor analyses.
Identify opportunities to improve operating margins and reduce costs.
Manage hospital cash flow and liquidity.
Oversee banking relationships and treasury operations.
Monitor debt obligations and financial covenant compliance.
Develop capital expenditure plans.
Evaluate return on investment (ROI) for capital projects and new service lines.
Ensure compliance with Generally Accepted Accounting Principles (GAAP).
Maintain strong internal controls and financial governance.
Coordinate annual independent audits.
Ensure compliance with CMS, Medicare, Medicaid, state regulations, and other applicable healthcare requirements.
Support enterprise risk management initiatives.