Market Chief Financial Officer – Desert Care Network

Tenet Executive Search • Palm Springs, CA

20d • $230,000 - $330,000

About The Position

The Market Chief Financial Officer (CFO) is responsible for safeguarding the assets of the Desert Care Network facilities and ensuring that financial statements, books, and records are prepared and maintained in accordance with GAAP. The CFO ensures compliance with company financial and accounting policies, maintains effective internal controls, and routinely monitors those controls. As a member of the Facility A-Team and facility and market management teams, the CFO helps establish and implement strategic business plans and communicates with internal and external stakeholders, including regulatory bodies.

The role identifies and independently assesses financial risks, develops and monitors mitigation plans, and communicates financial risks and opportunities to the Group Chief Executive Officer and Facility Chief Executive Officer. The CFO monitors financial performance, maintains appropriate financial plans and forecasts, supports revenue-cycle improvement, and evaluates the financial impact and return on investment of capital projects. The position works collaboratively with facility leaders and home-office functions, including Compliance, Accounting/Financial Reporting, Information Systems, Internal Audit, Legal, and Treasury.

The CFO is expected to provide strategic and operational financial leadership across the facilities, support ethical and compliant financial operations, strengthen organizational performance, and develop the finance team through feedback, coaching, and talent planning. The position serves the Desert Care Network, including Desert Regional Medical Center and its associated facilities and outpatient locations.

Requirements

• At least 10 years of progressive financial healthcare or equivalent experience in general accounting, operations, financial systems, financial statement preparation, review and analysis, multidisciplinary management, and ethics.
• Bachelor’s degree in finance or accounting.
• Successful experience as a Chief Financial Officer in a highly competitive market.
• Substantial financial management experience in financial operations, strategic and financial planning, contracts, reimbursement, budgeting, and capital financing in a complex environment.
• Experience participating in and supervising managed-care contract negotiations.
• A referenceable track record in facility finance, identifying issues, and making decisions that improve financial performance.
• Thorough understanding of healthcare trends and the ability to anticipate opportunities.
• Good organizational and prioritization skills, with the ability to manage financial activities and work successfully under pressure.
• Ability to explain complex finance, operational, and compliance issues in terms readily understood throughout the organization.
• Ability to build consensus, work across functional lines, and engage diverse resources to achieve results.
• Broad financial perspective, collaborative team approach, comfort with ambiguity, and ability to translate organizational vision and mission into practical financial strategy.
• Strong listening, communication, direction-setting, and presentation skills, including excellent oral and written communication.
• High personal and professional integrity, credibility, and ability to make difficult decisions while earning the respect and support of peers, senior leadership, and medical staff.

Nice To Haves

• MBA, MHA, and/or CPA designation.
• Experience working collaboratively in a complex, matrix healthcare organization.

Responsibilities

• Analyze daily operating results to ensure revenues, expenses, and labor are within budget; advise department heads and administration about needed changes and improvements.
• Establish and maintain financial controls and record keeping, and approve expenditures up to the level established by the CEO.
• Monitor government regulatory requirements and changes in reimbursement, and develop or implement policy and procedure changes as needed.
• Ensure facility financial operations are conducted ethically and responsibly.
• Establish and monitor the annual operating budget in accordance with sound budgeting principles and home-office guidelines; coordinate workforce plans and salary and benefit proposals with Human Resources and other departments.
• Evaluate the facilities’ financial position; prepare periodic financial and operating reports; and ensure consistent financial, accounting, and reporting processes.
• Prepare financial forecasts, monitor performance against budget, consolidate results, prepare rolling 90-day forecasts, and implement cash-management controls.
• Coordinate with senior leadership on strategic and financial plans, including capital expenditure programs.
• Review the effectiveness of financial and accounting systems and direct the development and implementation of new systems, policies, and procedures as required.
• Analyze the feasibility and financial prospects of new businesses and programs, including managed-care contracts.
• Complete administrative duties, including signing documents, preparing reports, conducting performance appraisals, and handling other employee-related actions.
• Identify and independently assess financial risks, establish and monitor mitigation plans, and communicate financial risks and opportunities to the Group CEO and Facility CEO.
• Monitor financial performance and maintain appropriate financial plans and forecasts.
• Collaborate with home-office support functions, including Compliance, Accounting/Financial Reporting, Information Systems, Internal Audit, Legal, and Treasury.
• Monitor and improve revenue-cycle processes through rate setting, charge capture, managed-care negotiations, and cash collections.
• Evaluate capital-project investments and ROI, and manage capital spending in accordance with capital cash-flow projections.
• Participate in facility and market strategy development and implementation.
• Demonstrate financial and operational leadership, including planning, contracts, budgeting, capital financing, cash management, compliance, internal controls, audits, and SOX reporting.
• Identify business-plan gaps, assess external factors and trends, and refresh the financial outlook and strategy as needed.
• Pursue revenue-generation and performance-improvement opportunities with facility, market, and home-office partners.
• Communicate financial insights effectively and collaborate with managers and physicians to improve short- and long-term results.
• Establish financial goals, targets, and metrics; maintain planning and reporting rigor; analyze performance; and recommend or execute corrective action.
• Build consensus across stakeholders and maintain high standards for financial statements, reports, business plans, manpower plans, and internal controls.
• Develop organizational talent through role design, feedback, coaching, development plans, bench-strength assessments, and recruitment or promotion planning.

Benefits

• Position may be eligible for an annual incentive plan bonus of 10%–50%, depending on role level.
• Management-level positions may be eligible for sign-on and relocation bonuses.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive