The Company
Based in North Dallas, this private equity sponsored organization owns and operates inpatient rehabilitation hospitals throughout the continental United States. Presently, the organization is operating more than 20 locations, with several more in the development phase. They are a rapidly emerging leader in rehabilitation services, known for dedication to clinical excellence, solid financial performance, and as an employer of choice in each market served.
The Position
Reporting to the CEO, the Chief Financial Officer (CFO) will set company financial policy, accounting, tax compliance, and revenue cycle direction, while also serving as an active participant in, and driver of, the organization’s overall managed care contracting and financial strategy. The CFO will work closely with the CEO in capital structure management while leading financial administration and budgeting. This corporate executive will serve as a key advisor to the CEO, board of directors, equity sponsors, and other key stakeholders, while maintaining a strategic role as a senior leader in the organization.
Specific responsibilities include, but are not limited to, the following:
Strategy
- Partnering with the CEO and other management staff on all operational and strategic issues as they arise; providing strategic recommendations based on financial analysis and projections, cost identification and allocation, and revenue/expense analysis
- Participating in the ongoing strategic planning process as an integral member of the senior management team
- Participating in budgetary planning, financial planning, and cost management.
- Projecting capital and cash needs and opportunities
- Organizing and investing capital to meet the strategic goals and immediate demands of the organization
- Coordinating, with the CEO and others, any opportunities for M&A activity, while managing de novo growth initiatives
- Engaging the board around issues, trends, and changes in the operating model and operational delivery complications or opportunities
- Providing support and data necessary to establish favorable contracts with payors, service providers, and client organizations
- Collaborating with the CEO, management company, equity sponsors, and board of directors to establish the appropriate organization of company assets to achieve strategic goals and objectives
Financial and Operational Management
- Maintaining responsibility for financial reporting and tax compliance
- Playing a key role in the overall budgeting and budget implementation process
- Ensuring finance staff maintain financial record systems in accordance with Generally Accepted Accounting Principles, and monitoring use of all funds
- Instituting, with support of the company’s controller, effective and efficient cost containment strategies
- Managing the preparation and approval of all financial reporting materials and metrics for funding the organization; preparing and communicating monthly and annual financial statements
- Managing cash flow and forecasting; directing all financial, project-based, and departmental accounting
- Driving and coordinating all audit activities with financial consultant and/or external CPA firm/s. The CFO is the sole contact for coordination of all federal and state income tax returns.
- Reviewing all formal finance and IT-related procedures, processes, and administration, recommending improvements to the systems in place and managing the systems going forward
- Reviewing and approving managed care contracts
Revenue Cycle Management
- Building and managing a team capable of achieving well-respected metrics and an overall highly efficient revenue cycle function
- Setting revenue, AR, and collections targets and conducting detailed monthly performance/variance reviews
- Ensuring contractual requirements within the financial function are carried out in a timely and responsible manner
- Continuously evaluating systems, vendors, technology, and processes to ensure optimal quality and performance
- Serving as the organization’s primary contact for cost reporting
Treasury
- Maintaining banking relationships
- Setting up appropriate bank accounts, lockboxes, and credit card accounts for new locations
- Managing and ensuring compliance with all debt covenants
- Managing and ensuring compliance with investor group contracts and obligations
Ensuring capital structure aligns with the strategic objectives of the organization
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The Successful Candidate
The CFO will possess the knowledge, skills, and abilities to lead the financial operations function of this organization during periods of strategic optimization and scale. These competencies include, but are not limited to, the following:
- 10+ years of progressive senior-level experience in the financial function of a multi-site hospital system
- Master’s degree in accounting, finance, business, or related field
- CPA preferred
- Ability to work onsite in North Dallas, Texas
- Prior experience in private equity sponsored hospital organizations strongly preferred
- Experience and knowledge of healthcare revenue cycle and managed care contracting
- Demonstrated track record of successful leadership of growing organizations, including M&A
- Skill in examining, developing, reengineering, and recommending financial, AR, and technology policies and procedures
- Prior experience managing the treasury function of a multi-hospital system
- Strong analytical skills and experience interpreting a strategic vision into an operational model
- Exceptional written and verbal communication skills
- Strong computer skills; proficiency with MS Office and common web applications
- Exceptional leadership, interpersonal, and motivational skills; able to communicate effectively with employees and stakeholders at all levels of the organization
- Exceptional problem-solving skills
- Track record of success in fast-paced, high-accountability environments
Compensation
The successful candidate will receive a highly competitive compensation package, including, but not limited to:
- Competitive salary
- Incentive compensation
- Equity
- Paid time off
- Full suite of health and welfare benefits
- Retirement plan
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