Job Description
Chief Financial Officer (CFO)
Position Summary
Cedar County Memorial Hospital (CCMH) is seeking an experienced, strategic, and collaborative Chief Financial Officer (CFO) to lead the financial operations of our independent rural Critical Access Hospital. As a key member of the executive leadership team, the CFO provides strategic financial leadership to ensure the organization's long-term financial stability, operational excellence, and continued ability to fulfill its mission of delivering high-quality healthcare to the communities we serve.
The CFO is responsible for all aspects of the hospital's financial management, including financial planning and analysis, accounting, budgeting, revenue cycle oversight, reimbursement, compliance, treasury management, and regulatory reporting. The ideal candidate will possess extensive healthcare finance experience, preferably within a Critical Access Hospital environment, and demonstrate the ability to partner with hospital leadership, the Board of Directors, medical staff, and department leaders to drive organizational success.
Duties include, but are not limited to the following:
Executive Leadership & Strategic Financial Planning
- Serve as a member of the executive leadership team, contributing to organizational strategy and decision-making.
- Develop and execute financial strategies that support CCMH's mission, vision, and long-term sustainability.
- Advise the Chief Executive Officer and Board of Directors on financial performance, capital investments, reimbursement trends, and strategic initiatives.
- Lead the annual operating and capital budgeting process and long-range financial planning.
- Evaluate new service lines, partnerships, and growth opportunities through financial analysis and business planning.
Financial Management & Reporting
- Direct all accounting and finance functions, including general ledger, accounts payable, payroll oversight, cash management, and financial reporting.
- Ensure timely and accurate preparation of monthly, quarterly, and annual financial statements.
- Monitor financial performance through key performance indicators, dashboards, and variance analysis.
- Develop financial forecasts and recommend corrective actions to achieve organizational goals.
- Maintain effective internal controls to safeguard organizational assets.
Reimbursement & Revenue Cycle Oversight
- Oversee Medicare and Medicaid reimbursement, Critical Access Hospital cost reporting, and third-party payer financial performance.
- Collaborate with revenue cycle leadership to optimize billing, collections, reimbursement, and cash flow.
- Monitor changes in healthcare reimbursement, regulations, and payment models and assess their financial impact.
Compliance, Risk Management & Audit
- Ensure compliance with Generally Accepted Accounting Principles (GAAP), federal and state regulations, Medicare Conditions of Participation, and healthcare financial reporting requirements.
- Oversee preparation of the annual Medicare Cost Report and coordinate all external financial audits.
- Maintain appropriate financial policies, procedures, and internal controls.
- Manage relationships with external auditors, financial institutions, regulatory agencies, and other financial partners.
Operational & Organizational Leadership
- Partner with department leaders to improve operational efficiency and financial performance.
- Provide financial guidance for organizational initiatives, capital projects, and performance improvement efforts.
- Foster a culture of accountability, transparency, collaboration, and continuous improvement.
- Recruit, mentor, and develop finance department staff while promoting professional growth and succession planning.
Qualifications:
Required
- Bachelor’s degree in Accounting, Finance, Business Administration, or related field.
- Certified Public Accountant (CPA) or master’s degree in business administration (MBA), Healthcare Administration (MHA), or Finance preferred.
- Minimum of 7–10 years of progressive healthcare financial leadership experience.
- At least 3–5 years in a senior financial leadership role, preferably within a Critical Access Hospital or rural healthcare organization.
- Strong knowledge of healthcare reimbursement methodologies, including Medicare and Medicaid.
- Demonstrated experience with strategic financial planning, budgeting, forecasting, and financial analysis.
- Excellent leadership, communication, and relationship-building skills.
- Ability to present financial information effectively to executive leadership and the Board of Directors.
Preferred
- Experience in a Critical Access Hospital.
- CPA designation.
- Experience preparing Medicare Cost Reports.
- Knowledge of Rural Health Clinic (RHC) reimbursement.
- Experience with Meditech financial systems.
- Familiarity with grant management and rural healthcare funding programs.
- Experience with capital financing, debt management, and bond compliance.
Working Conditions
- Primarily on-site executive leadership position with limited remote work flexibility based on organizational needs.
- Regular attendance at executive leadership meetings, Board meetings, and community events.
- Occasional evening or weekend meetings may be required.
- Periodic extended hours during budgeting, audit, cost reporting, and strategic planning cycles.
- Active engagement with all hospital departments to support organizational objectives.
Why Join Us?
Cedar County Memorial Hospital serves as a vital healthcare resource for our rural communities by providing compassionate, high-quality care close to home. As Chief Financial Officer, you will play a critical role in shaping the hospital's future by ensuring financial strength, supporting strategic growth, and preserving access to healthcare for generations to come.
This is an opportunity to make a meaningful impact as an executive leader within a mission-driven organization dedicated to excellence, innovation, and the health of our community.
Benefits:
- 403(b)
- Dental insurance
- Employee assistance program
- Health insurance
- Vision insurance
Work Location: In person
