Chief Financial Officer - The Ridge Behavioral Health System

UHS•Lexington, KY

25d•Onsite

About The Position

As the only free-standing psychiatric hospital in the Central Kentucky area, The Ridge Behavioral Health System is a 110-bed hospital located in the heart of the Bluegrass, Lexington, KY. The Ridge provides psychiatric and substance use disorder treatment for children, adolescents, and adults. The Ridge offers Partial Hospitalization, Intensive Outpatient Programs, Individual Counseling, as well as Medication Management for all ages. We have provided behavioral health services to over 92 Kentucky counties for more than 39 years. The Chief Financial Officer monitors and controls accounts receivables, oversees Business Office functions to ensure cash collection goals are met, and net revenue is properly stated. This role facilitates weekly A/R meetings with the CEO and Business Office Manager, monitors and affects relationships between Business Office, Intake, and Utilization Review departments to maximize patient revenue. The CFO improves the profitability of the hospital by continually monitoring costs, payor mix, and length of stay to maximize reimbursement. They also assist in negotiating contract terms with third-party payers, prepare pro-forma analysis of new programs, and monitor the success/failure of implemented programs. The position involves developing and monitoring policies and procedures within generally accepted accounting principles and corporate guidelines to ensure sufficient cash flow, reduced hospital operating costs, and increased revenues. The CFO prepares monthly financial statements, financial packages, and other informational reports/analyses, including account analysis, variance analysis, journal entries, and internal controls. They provide required reporting, reconciliations, account analyses, and other information for Reimbursement Department, Tax Department, Auditors, etc. Additionally, the CFO prepares the annual budget in conjunction with UHS standards, reviews prior financial results, and discusses anticipated changes to highlight future needs and trends of the facility, tailoring hospital needs to UHS objectives. Other duties as assigned/required.

Requirements

Minimum education requirement of a bachelor’s degree. Master's degree preferred
Must possess a working knowledge of hospital financial operations, federal and local tax regulations; knowledge of all business office, accounting, payroll and other administrative office operations including all processes from registration through discharge.
Must be skilled at interpreting financial analysis and performance information; preparing schedules and reports, using source data and compiling reports from others’ schedules; using electronic spreadsheets and ability to manipulate data within proprietary and acquired databases.

Responsibilities

Monitors and controls accounts receivables. Closely oversees Business Office functions to ensure cash collection goals are met, and net revenue is properly stated. Facilitates weekly A/R meeting with CEO and Business Office Manager to communicate results and monitor areas of weakness. Monitors and affects as needed relationship between Business Office, Intake and Utilization Review departments to maximize patient revenue.
Improves the profitability of the hospital. Continually monitors costs in all areas, especially staffing as it relates to patient volume. Continually monitors payor mix and length of stay to maximize reimbursement. Assists in negotiation of contract terms with third party payers. Prepares pro-forma analysis of new program, contracts, etc. to determine estimated outcome. Monitors and evaluates success/failure of implemented program including physician arrangements.
Develops policies and procedures. Develops and monitors policies and procedures within generally accepted accounting principles and corporate guidelines to ensure sufficient cash flow, reduced hospital operating costs, and increased revenues.
Prepares monthly financial statements, financial packages, and other informational reports/analyses. Through account analysis, variance analysis, journal entries, and internal controls, prepares detailed financial statements to accurately reflect the monthly operating results.
Provides required reporting. Provides reconciliations, account analyses, and other information for Reimbursement Department, Tax Department, Auditors, etc., to aid in preparation of reports.
Prepares annual budget in conjunction with UHS standards. In cooperation with management and department heads, reviews prior financial results and discusses anticipated changes to highlight future needs and trends of the facility. Tailor’s hospital needs to UHS objectives.
Performs other duties as assigned/required.