Chief Financial Officer (CFO)

Lifepoint Health•Holyoke, MA

3d•Hybrid

About The Position

The Chief Financial Officer (CFO) - Facility drives key strategic initiatives for a facility or multiple facilities, providing oversight of all Financial Operations and operational performance. The CFO administers the general accounting, patient business services, including third party reimbursement, financial, and statistical reporting functions of the hospital in accordance with established policies and accounting procedures. They provide formal or informal direction in data processing, distributed systems, material management and medical records functions, and train subordinates on these areas, monitoring performance to ensure fiscal responsibilities are fulfilled. The CFO assists the Chief Executive Officer (CEO) in developing long and short-range hospital operations plans, including service demand analyses, resources availability analyses, and cost-benefit analyses of proposed capital and staff expansions. They develop long and short-range operational and capital budgets, prepare cash flow analyses and budget variance analyses, and make recommendations on budget modifications. The CFO also monitors, interprets, and analyzes hospital financial performance, identifies and reports undesirable trends and potential business opportunities, and directs the preparation of internal financial reports. They take a lead role in analyzing and exploring means of reducing hospital operating costs and increasing revenues, and are responsible for the direction and submission of all financial data and reports required by government and other regulatory agencies. This role requires regular and reliable attendance and may involve performing other assigned duties. The position serves both internal co-workers and external customers, clients, patients, contractors, and vendors, and involves access to sensitive and/or confidential information. A comprehensive understanding of healthcare regulatory and compliance (e.g., HIPAA), Business Office Standards and Recommended Practices, Generally Accepted Accounting Principles (GAAP), Securities and Exchange Commission (SEC) regulations, and state regulatory environments is necessary.

Requirements

Bachelor's Degree in Accounting or Finance
Minimum 15 years’ experience
3 years of experience working at the CFO level in an acute-care hospital is required
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
Ability to compute rates, ratios, and percentages and to draw and interpret graphs.
Routine use of electronic mail and computer systems.
Ability to incorporate complex and complicated functions into documents, spreadsheets, databases, and presentations to support business objectives.
Handles broad-based complex information across departments with company-wide impact.
Presents to diverse audiences, and can negotiate, motivate and persuade others.
Problems are broad, complex and abstract, often involving company-wide issues.
Must develop solutions using substantial creativity, resourcefulness, innovation, negotiation and diplomacy.
Decisions have significant, broad implications for the management and operations of a division.
Job contributes to decisions on the overall strategy and direction of LifePoint.
Sets direction and vision for major departments or multiple departments.
Establishes priorities, develops policies and allocates resources for LifePoint.
Prioritize, organize, and delegate project assignments company-wide: responsible for project outcomes.
Exhibit a comprehensive understanding of healthcare regulatory and compliance (e.g., HIPAA).
Skilled in the application of policies and procedures.
Knowledge of Business Office Standards and Recommended Practices.
Knowledge of Generally Accepted Accounting Principles (GAAP), Securities and Exchange Commission (SEC) regulations, and state regulatory environments as needed.
Occasionally required to stand; walk; sit for extended periods of time; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, bend, crouch or crawl; talk or hear; taste or smell.
Must occasionally lift and/or move up to 20 pounds.
Repetitive motion of upper body required for extended use of computer.
Required specific vision abilities include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

Nice To Haves

Master’s Degree Preferred
Certified Public Accountant (CPA) Certifications Preferred
Certified Public Accountant (CPA) License Preferred

Responsibilities

Administer the general accounting, patient business services, including third party reimbursement, financial, and statistical reporting functions of the hospital in accordance with established policies and accounting procedures.
Provide formal or informal direction in data processing, distributed systems, material management and medical records functions.
Train subordinates on the above areas and monitor performance to ensure fiscal responsibilities are fulfilled.
Assist the Chief Executive Officer (CEO) in the development of long and short-range hospital operations plans that may include service demand analyses, resources availability analyses and cost benefit analyses of proposed capital and staff expansions.
Develop long and short-range operational and capital budgets, which are supported by the hospitals long and short-range plans and objectives.
Prepare cash flow analyses and budget variance analyses and make recommendations on budget modifications as required.
Assist managers in the development of departmental budgets and the budget process.
Monitor, interpret, and analyze hospital financial performance in realizing established plans and objectives of the hospital.
Identify and report undesirable trends and potential business opportunities and make recommendations for action.
Direct the preparation of internal financial reports including work papers for annual financial audit.
Assure the timely and accurate preparation of financial reports and assure the reports reliably reflect the financial position of the hospital.
Assume a lead role in analyzing and exploring means of reducing hospital operating costs and increasing revenues based on knowledge of market trends, financial reports and operating procedures.
Responsible for direction and submission on a timely basis all financial data associated reports required by government and other regulatory agencies including payroll tax reports, public disclosure reports and third-party payor cost reports.
Manage the work of others, including planning, assigning, scheduling and reviewing work, ensures quality standards.
Responsible for hiring, terminating, training and developing, reviewing performance and administering corrective action for staff.