Chief Financial Officer – St. Luke’s Baptist Hospital

Conifer Health Solutions•Dallas, TX

10d•Onsite

About The Position

The Chief Financial Officer (CFO) at St. Luke’s Baptist Hospital is responsible for safeguarding the facility's assets and ensuring financial statements, including books and records, are prepared and maintained in accordance with Generally Accepted Accounting Principles (GAAP). The CFO ensures compliance with company financial and accounting policies and procedures, and that internal controls are effective in both design and operation, including routine monitoring. As a key member of the Facility A-Team, the CFO participates in establishing and implementing strategic business plans for the facility. This role is a key member of the facility management team, interacting regularly with internal and external constituents, including various regulatory bodies.

Requirements

At least ten years of progressive financial healthcare or equivalent experience in general accounting; operations; financial systems; financial statement preparation; review and analysis; multi-discipline management experience; and ethics.
Good organization skills with the ability to prioritize workload and successfully manage all financial activities.
Resilience to working successfully under pressure.
Ability to convert complex finance, operational, and compliance issues into terms and concepts easily disseminated throughout all levels of the organization.
A referenceable track record in facility finance, defining issues and making decisions to generate improved financial performance.
Participation, as well as supervisory experience, in negotiating managed care contracts.
Substantial financial management experience including financial operations, strategic and financial planning, contracts, reimbursement, budgeting, and capital financing in a complex environment.
A thorough understanding of healthcare trends with the ability to anticipate opportunities.
Successful experience as a Chief Financial Officer in a highly competitive market.
A cooperative approach to problem-solving with the capability of building consensus and support, working across functional lines to engage disparate resources to achieve desired results.
A broad financial thinker and team player who works well with ambiguity and can transfer the vision/mission of the organization into a focused financial strategy and detailed practical plan for the future.
An intuitive thinker who generates ideas and recommends new and/or modified approaches.
An individual of highest personal and professional integrity, principle, and knowledge, earning respect and support when making difficult decisions and choices.
Able to establish immediate credibility with peers, senior leadership, and medical staff.
Must listen actively and accurately, encourage input from others.
Provide clear directions.
Maintain an ongoing dialogue with employees to ensure continual progress.
Ability to work collaboratively with individuals critical to the successful execution of financial tasks.
Excellent oral and written presentation skills.
Articulate, good conversationalist and possessing a gracious demeanor.
A Bachelor’s degree in Finance or Accounting is required.

Nice To Haves

An MBA, MHA and/or CPA designation strongly preferred.

Responsibilities

Identify and independently assess financial risk, establish and monitor mitigation plans, and communicate financial risk and opportunity to the Group Chief Financial Officer and Facility Chief Executive Officer.
Monitor financial performance and maintain reasonable and appropriate financial plans and forecasts.
Collaborate effectively with home office departments such as Compliance, Home Office Accounting/Financial Reporting, Information Systems, Internal Audit, Legal, and Treasury.
Monitor the revenue cycle process and, with stakeholders, improve it through rate setting, charge capture, managed care negotiations, and cash collections.
Evaluate and manage investments in capital projects by applying unbiased scrutiny to determine financial impact and ROI, and manage capital spend according to capital cash flow projections.
Analyze daily operating results to ensure revenues, expenses, and labor are within budgeted objectives; advise department heads and administration of needed changes and improvements.
Establish and maintain sound financial controls and record keeping; approve financial expenditures up to the level established by the CEO.
Stay informed about government regulatory requirements and the changing reimbursement environment to develop and implement policy and procedure changes.
Ensure financial operations are carried out in an ethical and responsible manner.
Establish and monitor the annual operating budget according to sound budgeting principles and home office guidelines.
Interface with Human Resources and other departments in preparing workforce plans and salary and benefit proposals.
Evaluate the facility’s overall financial position and prepare periodic financial and operating reports.
Provide consistent and accurate financial, accounting, and reporting processes throughout the facility.
Prepare financial forecasts, monitor performance versus budget, consolidate results, prepare rolling 90-day forecasts, and develop and implement cash management controls.
Coordinate with other senior leadership in developing major strategic and financial plans, including capital expenditure programs.
Review, evaluate, and ensure the effectiveness of all financial and accounting systems in the facility.
Direct the development and implementation of new systems, policies, and procedures as required.
Assist in the development of new business by analyzing the feasibility of new programs, including managed care contracts, and advise management of financial prospects.
Attend promptly to administrative details, including signing documents, preparing reports, completing performance appraisals, and other employee-related actions.
Deliver year-over-year improved financial performance in a complex, matrix organization.
Demonstrate high degree of financial operational excellence (e.g., planning, contracts, budgeting, capital financing, and cash management).
Hold the finance team accountable to high ethical standards (e.g., compliance, internal controls, audits, and SOX reporting).
Effectively gauge external factors and trends to provide a forward-looking perspective when creating business strategy and forecasting (e.g., FTE/AADC targets, supply Cost/APD targets, EBITDA margin, A/R days, Operations cash flow goals).
Demonstrate business and analytical skills to identify gaps in the current business plan and actively refresh the financial outlook and strategy as needed (e.g., case management, staff/volume adjustment, net revenue management).
Act as a full partner at the facility, market, and home office level in pursuit of new revenue generation opportunities (e.g., improve payer mix, maximize reimbursement, prudent acquisition and merger strategies, reduce bad debt, grow EBITDA margin).
Be a highly visible leader who works with the team to identify challenges and capitalize on opportunities (e.g., department improvement plans, capital project prioritization and vetting, manpower planning accuracy, supply management efficiency).
Act as a thought partner for the CEO and thought leader in promoting own perspective and ideas in a bold and respectful manner (e.g., cost containment, acquisition/divestiture, ACOs, physician strategies, capital forecasting, productivity improvement).
Demonstrate excellence in formal and interpersonal communications that result in financial understanding and “ownership” at all organizational levels.
Evidence collaborative leadership to engage managers and physicians in improving short- and long-term results (e.g., department improvement plans, supply inventory management, clinical informatics implementation, labor management and reporting systems).
Act as an intuitive thinker willing to take prudent and necessary risk to achieve balanced results (e.g., cost, growth, people, service, quality).
Perform as a financial consultant to the facility.
Establish realistic and aggressive financial goals, targets, and metrics consistent with home office and facility strategic and operational objectives (e.g., meet upfront collection and cash goals, reduce A/R days year over year, meet 3.0 days in DNFC Gross A/R, meet HIM coding compliance accuracy for all patient types, manage a 24/7 HIM Department, attain HIM coding quality goals).
Set and maintain fiscal year pace and rigor for facility management (e.g., business planning and reporting cycle, CFO and Controller sign off on monthly balance sheet reconciliation with unresolved items less than 30 days old).
Build consensus and commitment across disparate people with often competing priorities.
Continually analyze and interpret financial performance and recommend and/or execute corrective action as needed (e.g., managed care and physician contracts, and strategic direction).
Maintain high-quality standards (e.g., oversee preparation of financial statements, reports, business plans and manpower plans; ensure 5-bar internal audits with no Sarbanes-Oxley items; maintain and address monthly internal control checklist).
Shape roles and assignments to maximize individual capability and performance contribution.
Regularly provide performance and professional development feedback, coaching, and guidance to improve performance and build career potential (e.g., all direct reports receive regular feedback and well-managed development plans).
Engage in team bench strength assessments and recruitment or promotion action plans that meet current/future talent requirements (e.g., Controllers, ACFO developed for CFO promotion readiness).