Director of Finance

Summary: This position is a senior executive responsible for directing the organization's financial planning and accounting practices by managing budgeting, forecasting, financial reporting, and compliance with regulations to ensure the company’s financial health and long-term goals.

Responsibilities:

•  Direct Supervision of all members of the finance department, revenue cycle management, facilities, purchasing and other departments assigned by the CEO. 

• Work with the Leadership team in developing and implementing strategic goals and business planning by providing financial insights and recommendations that guide overall business strategy and growth initiatives.

• Evaluate the organization's financial position and issue periodic reports on the organization's financial stability, liquidity, and growth.

• Develop and implement financial policies and procedures and ensure compliance.

• Assure implementation of internal controls and generally accepted accounting procedures for accounting, revenue cycle, purchasing, banking, and other financial activities

• Supervise the analysis of expenses and make rate recommendations to ensure appropriate income/cash flow.

• Assist CEO with developing annual financial plans, projections and budget, spearhead managing same with quarterly status reports prepared for leadership team and Board of Directors.

• Prepare general and requested financial and statistical reports required by the CEO, Board of Directors, Senior Management Team, and State/Federal regulations and program requirements.

• Ensure all insurance coverage, including directors and officers, malpractice, general property, etc. are in place each year.  Analyze contracts and policies for renewal.

• Coordinate with other departments planning for short- and long-range fiscal needs and ensure that expenditures adhere to legal and budgetary requirements.

• Supervise, train, and evaluate the Finance department staff including revenue cycle team, bookkeeping and credentialing, including but not limited to, performance reviews, timecard approvals, individual goal setting and overall guidance.

• Oversee and direct the activities of the Revenue Cycle Management team to ensure we are meeting collection and account receivable goals and maximizing all revenue opportunities.

• Develop, review and analyze KPI’s appropriate for various departments and overall goals of the business.

• Work with the CEO in negotiating and analyzing managed care contracts along with other key stakeholder contracts.

• Work in collaboration with the CEO to operate the business.

• Additional financial projects as assigned.

Requirements:

• Knowledge of the principles of financial management sufficient to direct professional staff and coordinate all aspects involved with fiscal requirements.

• Knowledge of clinic financial and budgetary practices to develop annual budget, analyze financial data and patterns, and prepare financial statements.

• Knowledge of clinic's strategic business objectives and employee performance objectives.

• Knowledge of the competitive managed care marketplace and the integrated healthcare delivery network.  

• Knowledge of governmental and health care fiscal regulations and reporting requirements.

• Knowledge of revenue cycle management.

• Skill in supply chain management. purchasing and contracting.

• Skill in exercising a high degree of initiative, judgment, discretion, and decision-making to achieve objectives.

• Skill in evaluating operations as they relate to policies, goals and objectives, costs, and rate levels.

• Skill in establishing and maintaining effective working relationships with patients, medical staff, and the public.

• Skill in identifying, analyzing, and resolving accounting and financial problems.  

• Ability to analyze financial results from operations, complete financial and cash flow forecasts.

• Ability to negotiate managed care contracts.

• Ability to delegate responsibility and authority to staff.

• Ability to effectively present information one-on-one and in small groups to employees, patients, and the public.

• Ability to communicate effectively and clearly with people from diverse backgrounds.  

• Ability to competently use Microsoft Office, including Word, PowerPoint, Excel, bookkeeping software, and appropriate practice management software.

• Requires occasional evening and weekend work and some commuting to various locations.

Education: Bachelor's degree in business administration, accounting, or finance or comparable experience and certifications.

Experience: 5+ years of experience in executive level financial/accounting management in the health care field. Experience with direct management of revenue cycle and supply chain management preferred. 

Mental and Physical Requirements: Must possess the physical and mental abilities to perform the tasks normally associated with Director of Finance. Daily activity is mostly sedentary with occasional standing, walking. Dealing with many financial deadlines and interacting with a wide variety of people on various issues may cause stress.

Conditions: The position is in a well-lighted office environment and requires the ability to work under pressure and with a diverse population, including staff, physicians, clients, patients, insurance companies, labs, hospitals, and other members of the public on a regular basis. The position may cause exposure to communicable diseases, bodily fluids, toxic substances, ionizing radiation, medicinal preparations, and other conditions common to a clinical environment.