Breckenridge, Texas
Chief Financial Officer (CFO) Job Opening in Breckenridge, Texas - To be considered for this position, please fill out an online application using the following link:
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POSITION SUMMARY
The Chief Financial Officer is responsible for developing and implementing the hospital?s financial plan and for implementing accounting and budgeting policies. The CFO is responsible for directing the processes whereby departments develop budgets, track expenses, record and collect revenue, and maintains financial statement, either personally or through subordinate personnel. The CFO is part of the senior leadership team and participates in the financial decision-making processes to successfully meet financial goals.
REPORTS TO: CEO
FSLA STATUS: Exempt
ESSENTIAL JOB RESPONSIBILITIES
Develop and implement organization?s financial budget activities to fund operation, maximize investments, or increase efficiency
Ensures that all balance sheet accounts are reconciled on a monthly basis and in compliance with company policies and standards and that any outstanding variances are identified and corrected timely.
Coordinate the development or implementation of budgetary control systems, recordkeeping systems, or other administrative control processes.
Prepare budgets for approval, including those for funding or implementation of programs.
Direct or coordinate an organization's financial or budget activities to fund operations, maximize investments, or increase efficiency.
Maintains a thorough working knowledge of federal, state and managed care reimbursement methodologies to ensure that facility is paid accurately and revenue deductions are recorded accurately. Facilitates preparation of any required cost reports.
Maintains a current knowledge of healthcare industry trends and changes and ensures the facility is prepared and compliant with state and federal guidelines.
Ensure timely filing of all necessary reports and surveys to federal, state or local governmental agencies, industry associations, third party payors and managed care companies.
Prepares annual capital budgets and Capital Equipment Requests. Ensures assets and related depreciation is recorded accurately and in compliance with company policies.
Coordinate annual audits and cost report preparations with firms chosen by the hospital to perform such audits.
Ensures all accounting and business office policies and required internal controls are in place to facilitate a clean audit with no material audit adjustments or deficiencies found. Ensures that all approval processes are in place.
Establish and maintain systems and controls which accurately collect all patient charge data in a timely manner and results in a complete statement for timely submission to payors/guarantors on each patient account.
Maintain an effective and compassionate collection process which maximizes reimbursements due the hospital.
Maintain required logs, journals, EOBs, and other historical patient information as required by various payors and regulatory agencies.
Ensures compliance with Group Purchasing contract and monitors purchases to ensure supply costs are kept to budgeted levels.
Directs the operations of the Revenue Cycle to ensure that accounts receivable are collected timely and uncompensated care is kept to a minimum. Routinely reviews revenue cycle metrics to proactively identify and address issues affecting overall performance.
Is actively involved in ensuring Front End Revenue Cycle processes are in place including ensuring the insurance verification is completed on 100% of patients, working with the Financial Counselor to ensure proper determination of patient portions and approval of any discounts or charity and proper logging of upfront collections.
MANAGEMENT RESPONSIBILITIES
Provides financial leadership and guidance to facility managers, trains managers on financial matters and provides feedback regarding department performance.
Provides guidance and assists the CEO in ensuring the facility is staffed appropriately and that productivity goals are met.
Appoints department heads or managers and assign or delegate responsibilities to them.
Direct, plan, or implement policies, objectives, or activities of organizations or businesses to ensure continuing operations, to maximize returns on investments, or to increase productivity.
Develop and maintain division goals and objectives which support the overall mission, vision and values of the organization as it relates to the stewardship of financial resources.
Supervises Accounting, Patient Accounting, Payroll, Health Information Management, Materials Management and other departments assigned by the CEO.
Establish departmental responsibilities and coordinate functions among departments and sites.
EMPLOYMENT REQUIREMENTS
Master?s degree in Business Administration, Accounting, Finance or related field
10 years? experience leading a Finance Department
5 years? experience in Healthcare Industry
CPA certification preferred
KNOWLEDGE, SKILLS AND ABILITIES
Proven financial analysis skills
Demonstrated leadership skills
Ability to think strategically and solve problems
Advanced proficiency in Excel
Ability to manage multiple tasks and prioritize demands
Salary: DOE
SMH is An Equal Opportunity Employer--M/F/D/V and a Drug/Tobacco Free Workplace
Job Type: Full-time
Required experience:
Healthcare Industry: 5 years
Accounting / Finance: 3 years
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