This position is responsible for directing the organization's financial planning and accounting practices as well as its relationship with lending institutions, pay sources, and the financial community.
The Medical Group CFO develops and directs the overall financial policies and procedures for the physician group and reports to the Chief Executive Officer. The CFO will provide strategic direction of all financial functions, including accounting, budget, and tax/regulatory reporting. The CFO will ensure the proper financial auditing and controls are in place and supports the overall business strategy while conforming with applicable laws and regulations. This individual will design, coordinate, and prepare a wide variety of accounting and statistical data and reports.
Supervises
Supervises accounting manager, bookkeeping, and business office manager, with indirect supervision of all members of the finance department.
Essential Job Responsibilities:
- Interacts with clinic management staff in developing the strategic plan and its financial planning component.
- Oversees and directs budgeting, audit, tax, accounting, purchasing, long-range forecasting, and insurance activities for the organization.
- Evaluates the organization's financial position and issues periodic reports on the organization's financial stability, liquidity, and growth.
- Develops and implements financial policies and procedures and ensures compliance.
- Assures implementation of internal controls and generally accepted accounting procedures.
- Supervises the analysis of costs and makes rate recommendations to ensure appropriate income/cash flow.
- Prepares annual budget and grant budgets.
- Oversees and directs the preparation and issuance of the organization's annual tax and other reports.
- Prepares financial and statistical reports required by the CEO, Board of Directors, Physician Partners, and State/Federal regulations and program requirements.
- Ensures all insurance coverages including directors and officers, malpractice, general property, etc. are in place each year.
- Coordinates with other departments planning for short- and long-range fiscal needs and ensures that expenditures adhere to legal and budgetary requirements.
- Oversees the recruitment, supervision, training, and evaluation of the Finance department staff.
- Performs other duties as assigned.
Education
Master's degree in business administration, accounting, or finance.
Experience
Eight to 10 years of experience in financial/accounting management. Experience in health care financial management strongly preferred.
Other Requirements
CPA (highly preferred)
Performance Requirements
Knowledge:
- 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.
Skills:
- 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.
Abilities:
- 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, and appropriate practice management and accounting software.
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