Facility CFO- Behavioral Health

Job Description

*Please read before applying*

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This is an application to be considered for a Facility CFO position at an Acute Psychiatric facility within Summit BHC's network.

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*These positions are NOT remote. They are on site- must be willing to relocate

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*Must have 5 years of financial management experience (CFO, ACFO, Director of Finance, Controller) in a healthcare setting

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The Facility CFO is an integral part of the senior leadership team and is expected to participate in the financial and functional decision-making processes necessary for the successful attainment of the facility’s operational and financial goals. The CFO is accountable for overall financial operations and is responsible for all aspects of the day to day fiscal management of the facility.

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Job Description

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ESSENTIAL FUNCTIONS:

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• Ensures that monthly financial statements are completed timely and accurately.
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• 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.
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• Prepares corporate required reports (including the Monthly Operating Report, Monthly Certifications, Corporate Disclosures, Forecasts) timely and accurately.
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• 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.
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• Directs the operations of the Revenue Cycle to ensure that accounts receivable are collected timely and uncompensated care is kept to a minimum. Strives to achieve goals for cash collections and AR days and to reduce bad debt and denials. Routinely reviews revenue cycle metrics to proactively identify and address issues affecting overall performance.
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• Ensures 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.
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• 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.
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• Supervises Accounting, Patient Accounting, Health Information Management, Materials Management and other departments as assigned by the CEO.
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• Leads a team of highly engaged members thru hiring, orienting, performance assessment and management, motivating, training, scheduling, and coaching to meet department goals and ensure effective and efficient department operation.
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• Ensures compliance with Group Purchasing contract and monitors purchases to ensure supply costs are kept to budgeted levels.
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• Prepares annual operating budget and participates in the annual strategic planning process which serves as a basis for the budget. Provides ongoing analysis of variances from budget and assists the CEO in implementing changes needed to achieve budget goals.
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• Prepares annual capital budgets and Capital Equipment Requests. Ensures assets and related depreciation is recorded accurately and in compliance with company policies.
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• Provides financial leadership and guidance to facility managers. Trains managers on financial matters and provides routine feedback regarding department performance.
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• Provides financial expertise in planning new services including preparation of pro-formas.
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• Works as a partner with the CEO and ensures that there is an open line of communication and positive
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• Interaction and facility is staffed appropriately and that productivity goals are met.
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• Participates with managed care contracting and other business development activities to ensure net revenue maximization.
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• Approves or denies all computer access privileges (SAF’s) and ensuring that access is terminated for employees that have been terminated.
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EDUCATION/EXPERIENCE/SKILL REQUIREMENTS:

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• Bachelor’s degree in accounting or business-related field; Master’s degree preferred.
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• A minimum of five years financial management experience (CFO, ACFO, Director of Finance, Controller) in a healthcare setting is required.
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• Previous Behavioral healthcare experience highly preferred.
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• Previous experience with a proprietary healthcare system highly preferred.
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• Proven financial analysis skills and strong technical accounting and finance skills.
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• Experience working with information technology and proficiency with software packages including Excel and Word.
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LICENSES/DESIGNATIONS/CERTIFICATIONS:

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CPA preferred.

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SUPERVISORY REQUIREMENTS:

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Five or more years of supervisory/management experience in healthcare setting required