POSITION SUMMARY: The CFO serves as the primary financial officer for the Black River Memorial Hospital and Black River Healthcare Clinic. Responsible for overall executive oversight of general accounting, and patient business services, including third-party reimbursement, and financial and statistical reporting functions of the organization in accordance with established policies and accounting procedures. Demonstrates behaviors that are consistent with BRMH’s core values: Excellence, Progressive, Integrity, Collaboration, and Compassion. Promotes the effective management of BRMH’s resources, meeting internal benchmarks and short and long-term goals.
Essential Duties and Responsibilities
- Leadership
Inspires individual and organizational excellence, promotes and supports the shared mission and vision, and leads change to attain the organization’s strategic ends and successful performance. This includes but is not limited to:
- Uses key tenants of our leadership “must haves” and problem-solving to promote organizational success.
- Creates an organizational culture of mutual trust, transparency, and a focus on service.
- Identifies and leads change to promote ongoing learning and improvement.
- Encourages diversity of thought to support innovation, creativity, and continuous improvement.
- Responsible for the ongoing, effective operation of specific departments as assigned by the CEO.
- Communication and Relationship Management
Communicates clearly and concisely with internal and external customers while establishing and maintaining relationships that facilitate constructive interactions with individuals and groups. This includes but is not limited to:
- Manages and develops key stakeholder relationships by using collaborative, team-based techniques to engage stakeholders in shared decision-making.
- Demonstrates strong listening and communication skills.
- Prepares, delivers, and presents credible, accurate, and understandable information that supports decision-making.
- Demonstrates the ability to problem solve, negotiate, and manage conflict.
- Professional and Social Responsibility
Aligns personal and organizational conduct with ethical and professional standards that include a responsibility to the patients and community, a service orientation, and a commitment to lifelong learning and improvement. This includes but is not limited to:
- Demonstrates personal and professional accountability, integrity, and fiduciary responsibility in alignment with the organization’s values.
- Demonstrates commitment to lifelong learning, self-awareness, reflection, and development that enhances personal and professional growth for themselves, their profession, and the organization.
- Actively advocates for social and healthcare policy that advances the value of healthcare.
- Health and the Healthcare Environment
Understands the healthcare system and environment and uses this knowledge to lead the organization. This includes but is not limited to:
- Understands and uses knowledge of healthcare systems, processes, and indicators to assess and advance the organization’s patient care services.
- Balances efforts to drive outcomes for the Service, Quality, People, Community, Growth, and Finance pillars including customer service, access, safety, resource stewardship, patient, family, employee engagement, and community needs.
- Actively engages in work that aligns and advances community health, and emergency preparedness.
- Demonstrates the ability to optimize the healthcare workforce around local critical workforce issues, such as shortages, scope of practice, skill mix, licensing, and fluctuations in service.
- Business
Applies business principles and practices to the organization’s strategy and operations. This includes but is not limited to:
- Uses business processes to plan, execute, evaluate, and improve the operations of the organization.
- Ensures adherence to all legal, regulatory, and accrediting requirements.
- Effectively uses financial principles and tools including data to plan, execute, and evaluate business functions across areas of responsibility.
- Uses organizational philosophies, policies, and procedures to manage and drive employee engagement and productivity across the organization.
- Demonstrates knowledge of basic business practices such as business plans, contracting, and project management.
- Leads the development of key planning documents including strategic plans, business service plans, and business cases for new services.
- As the Chief Financial Officer for the organization:
Directs and oversees all aspects of the finance function including, assets, cash flows, insurance coverage, accounting practices, relationships with financial institutions, and 3rd party payers by performing duties personally or through subordinate staff. Oversees the entire process of generating revenue for the hospital, from patient registration and scheduling to claims submission and reimbursement. Develops strategies to optimize revenue capture and minimize revenue leakage throughout this cycle. Ensures accurate and timely invoicing of patients and third-party payers. This includes overseeing billing staff, implementing billing systems, and ensuring compliance with billing regulations. Prevents billing errors and optimizes revenue. Maintains the custody and directs the prudent use of funds, securities, and assets of the organization. Responsible for the accuracy and integrity of financial data and compliance with accounting standards and regulations. Monitors, analyzes, negotiates, and recommends reimbursement contracts with third-party payers. Informs stakeholders of the impact of economic and financial issues on the organization’s policies and operations.
Educational Qualifications:
- Master’s degree in accounting, finance, business administration, healthcare administration, or related field from an accredited college or university required
- Minimum of 10 years of progressive, related experience, and leadership/management responsibilities
- Fellow of the American College of Healthcare Executives certification preferred
- Exceptional knowledge of healthcare financial management, third-party reimbursement, contracts, and generally accepted accounting principles and practices
- Strong knowledge of hospital patient care principles and practices
- Extensive knowledge of relevant state and federal regulations and healthcare policies and practices
- Comprehensive knowledge of risk business management policies, procedures and practices
- Working knowledge of contemporary supervisory, management, and administrative principles and practices
- Excellent computer skills in a variety of software programs across a variety of applications
Work Relationship:
- Reports directly to the President and CEO
- Works closely with all other Department Leaders
- Works regularly with the members of the Senior Leader Team
- Regular contact with providers, medical staff, staff, vendors, and the public
- Occasional contact with attorneys
- Due to the nature of the position, will work with all employees and volunteers at the hospital on an occasional or regular basis
- Flexible work schedule available in accordance with hospital telecommuting policy and agreement
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