CHIEF FINANCIAL OFFICER - Archbold Medical Center

CHIEF FINANCIAL OFFICER

General Summary

The Chief Financial Officer reports to the President/CEO of the health system. The CFO works in collaboration with, and at the direction of, the CEO, and functions as a key leader of the Archbold senior management team. The senior management team is defined as a dedicated, energetic and collegial team that believes success is carefully planned with intentional execution.

The CFO develops, recommends and directs the financial planning, management and control systems and programs to ensure both the short and long-term viability of Archbold. The CFO, along with other members of senior management team, will provide financial reporting to the board of trustees, Financial Committee and other boards regarding Archbold financials. With senior leadership, the CFO will work on value-based initiatives to focus from volume to value and redefine financial incentives toward reduced cost. The CFO will direct and coordinate the health system activities concerned with financial administration, general accounting, patient financial services, patient access, financial statement preparation, investment management, external financial reporting, financial and statistical reporting, and preparation of budgets and cost studies. He/she is responsible for the development, interpretation, coordination and administration of the organization’s policies on finance, accounting, investments, internal controls, compliance and auditing. The CFO will provide systemwide leadership, management, education and direction for accounting, reimbursement and revenue cycle.

Key Responsibilities

• Provides administrative direction, leadership and management for assigned health system departments and staff;
• Develops financial goals and objectives consistent with the overall goals and objectives for the health system;
• Serves as a member of the Archbold senior management team and represents the financial services department in planning and policy-making activities of the health system, including the coordination of financial and strategic planning to ensure continued viability of Archbold;
• Develops and analyzes the financial implications of all capital projects and operational changes;
• Directs and coordinates the financing of all capital projects initiated by Archbold;
• Oversees the treasury and investment function for the health system;
• Establishes and maintains a formal organization-wide budget program for operating and capital needs, and provides ongoing measurements indicative of actual performance compared with budget;
• Evaluates and determines chargemaster and ensures appropriate pricing and rate structure is in place to meet Archbold financial requirements;
• Member of the Finance Committee and attends board meetings;
• Reviews, interprets, analyzes and communicates financial reports, data and the implications of each to management and the board of directors;
• Ensures that all aspects of Archbold financial operations are in compliance with the standards of appropriate accrediting and audit agencies;
• Establishes and maintains an effective organizational structure for operating financial services throughout the health system;
• Develops and implements physician compensation models;
• Establishes a comprehensive financial plan supporting Archbold objectives;
• Keeps the CEO informed about conditions in the assigned areas of responsibility;
• Develops and implements policies and procedures that guide, support and develop the financial services department and the health system;
• Carries out all policies established by the board of directors and system CEO as they relate to the financial affairs of Archbold; and
• Develops, coordinates and monitors all financial policies for all departments of Archbold to control the receipt of revenue, expenditure of funds and the control of assets.

The Candidate

The selected candidate will have a track record in leading a high-performing finance department and revenue cycle, and will have significant experience in successfully negotiating and directing managed care contracts, budgets, short and long-range strategic financial planning, treasury, reimbursements, bank/bond financing and acting as a strong fiscal conscience. The executive will also bring experience dealing with physician employment agreements and compensation models. Personal characteristics sought in candidates include:

• High integrity; trustworthy; honest;
• Able to communicate effectively with physicians and at all levels of management, both within and outside the areas of his/her responsibility;
• Diplomatic and politically savvy; persuasive; tactful;
• Superb interpersonal skills with a genuine comfort interacting with a wide range of individuals and groups.
• Effective relationship builder; collegial, approachable; personable;
• Adaptable to Thomasville culture; Thomasville is a place where culture and heritage are valued along with commitment to the community and the residents of the community;
• Ability to listen, consider and assimilate input from a wide range of constituents; solid influencing skills, capable of building consensus; and
• Engages and seeks medical staff input; receptive and treats physicians as partners.

Qualifications

Educational Requirements

• Master’s degree in healthcare administration, business or health administration or related field
• Certified Public Accountant (CPA)

Experience Requirements

• 10 years of senior level management experience
• 5 years of hospital finance experience
• Experience as a CFO of a hospital or system similar in size and complexity is required

Required Skills

• Strong initiative, judgment, and decision-making abilities.
• Excellent written and verbal communication skills with all levels in the organization.
• Competency in organizing work, delegating tasks, and meeting organizational goals and objectives.
• Expertise in budgeting, financial planning and forecasting
• Proficiency in financial reporting and analysis
• Strong understanding of cost control and resource allocation in a healthcare setting
• Experience managing capital expenditures and investment strategies
• Deep understanding of healthcare reimbursement systems
• Understanding of regulatory compliance and healthcare specific financial regulations
• Strong knowledge of healthcare billing and coding practices
• Ability to navigate the complexities of value-based care and population health management
• Strong leadership skills to guide the finance team
• Experience in presenting financial reports and strategies to the board of directors and other high-level audiences
• Skilled in fostering a culture of accountability and continuous improvement

Physical Demands

Good physical and mental health. Must use good body mechanics. Must possess visual acuity with corrective lenses to read printed material, hearing ability with auditory aids to understand the normal speaking voice without viewing the speaker, and speaking ability to ask and answer pertinent questions and relay information. Must be able to work under stressful conditions and handle multiple priorities. Must be able to work under supervision or independently as directed by the situation.

Supervises: Direct reports include: chief accounting officer, vice president of revenue cycle operations, finance director of medical group, director of reimbursement and executive secretary.

Supervised by: CEO/President

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