Overview:
This position is designed for an experienced financial leader seeking long-term career growth. As part of the organization's executive succession planning, the successful candidate will have the opportunity to develop toward a future Chief Financial Officer (CFO) role through mentorship, strategic exposure, and progressive leadership responsibilities.
Job Summary:
The Director of Finance reports to the VP of Finance and CFO and is the key contact for day-to-day financial operational matters at Heywood Healthcare. While the Director of Finance reports to the VP of Finance and CFO, they are instrumental in supporting the Senior Team on key strategic matters. The Director of Finance is a dynamic leader who challenges conventional wisdom and has professional, respectful, and supportive relationships with key stakeholders, staff, consultants, auditors, and vendors alike. The Director of Finance will support the values of the organization, and the VP of Finance and CFO’s vision on providing outstanding customer service to those we are privileged to serve. They engage their team members to help solve today’s challenges. The Director of Finance is responsible for the following areas: accounting, reimbursement analysis, cash management, operating budget and program support, long-term and short-term financial analysis and modeling, cost reporting, financial data analytics, audit/internal controls, charge master and internal and external financial reporting.
Heywood Healthcare values our employees! We offer competitive wages, great benefits and generous earned time off. Come work where you will matter!
Hours: 40-Hours, Days, Hybrid
Max Salary: $175,100
Disclaimer:
We are committed to equitable and transparent compensation practices. The salary range for this position reflects our good-faith estimate of base pay at the time of posting. Final compensation will be determined based on a variety of factors, including relevant experience, skills, qualifications, and internal equity. We regularly review our compensation structures to ensure fairness and consistency across our organization.
Responsibilities:
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Controls and maintains stewardship of assets
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Ensures that transactions are recorded and accounted for in accordance with generally accepted accounting principles.
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Monitors compliance with and recommends change to internal controls.
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Records adequate liability estimates in appropriate periods.
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Identifies and acts to secure necessary resources for Finance Department’s future needs
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Provides timely and accurate internal reporting of financial status.
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Accurately reports financial and statistical information on a timely basis in required formats to external customers
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Identifies opportunities for operational changes that enhance profitability.
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Adapts reporting as needed to accommodate operational changes.
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Assists CFO with payor contracting and evaluation.
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Assists CFO and VP of HR with insurance renewals
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Assists CFO with Finance Committee and Board of Directors presentations as needed.
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Adhere to a “customer satisfaction” philosophy and consistently follows the same:
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Provide reliable, responsible, consistent, accurate quality service in a timely manner
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Demonstrate teamwork and cooperation in all organizational relationships
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Responsive to customer needs, make others feel understood and comfortable.
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Develop and maintain cooperative and effective working relationships with other departments and external parties.
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Identifies and makes recommendations to VP Finance and CFO on revenue maximization strategies.
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Working with the CFO, develop short and long-term financial planning models to ensure financial sustainability of the Health system.
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Provide budget training /or assistance for senior and middle management
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Partner with program leadership on operating and capital budgeting to ensure ongoing sustainability of their programs, Make a comparative analysis of budget to expenditures, and research and report variances
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Performs net revenue forecasting and budget projections
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Research all budget and reimbursement issues regarding new programs considered and make appropriate recommendations
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Responds to external financial reporting requirements
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Working with VP of Finance and CFO develops and maintains a contribution margin analysis by program
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Develop financial productivity and cost benchmarking reports to compare against ourselves and peer organizations
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Keeps up to date on current laws and regulations pertaining to reimbursement issues and is aware of their effect on overall revenues
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Responsible for oversight all third-party filings (including, but not limited to the Medicare 2552, DHCFP-403, and UCC reports). Ensures the accuracy of all filings, that appropriate documentation is available and complies with all government regulations pertaining to the content and accuracy of the reports filed
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Files, updates, and maintains CMS 855 A and B enrollment applications
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Supervise staff and monitor changes to the Charge Description Master ("CDM") on a timely basis
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Reviews major changes to the charge master with the Senior Financial Analyst to ensure optimum reimbursement
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Prepares monthly contractual adjustments and reserves
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Communicates with third party auditors and gathers all information necessary for them to perform annual audit of our reports. Notifies the V.P. of Finance of any significant issues
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Coordinates the third-party portion of the annual financial audit and ensures that all schedules and contractual calculations are completed within the set audit time frame
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Performs third party analytical work in support of financial decision making
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Maintains organizational statistical reporting system to ensure appropriate allocation methodologies
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Interacts with outside consultants to maintain appropriate reimbursement for the Hospital
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Communicates with various other internal/external customers as necessary, regarding reimbursement issues
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Maintains a database of payors contract terms and payment schedules so as to provide accurate assessments of net revenue estimates at the procedural level, as needed
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Monitors payors for reimbursement performance and contract payment compliance, and reports on their performance, identifying contract variances
Statement of Other Duties:
This document describes the major duties and responsibilities for this job, and is not intended to be a complete list of all tasks and functions. It should be understood, therefore, that employees may be asked to perform job-related duties beyond those explicitly described.
Physical Requirements:
Exerts up to 10 pounds of force occasionally and/or a negligible amount of force frequently to lift, carry, push, pull, or otherwise move objects. Involves sitting most of the time, but may involve walking or standing for brief periods. Occasionally reaches (extending hands and arms in any direction), and handles (seizing, holding, grasping, turning, or working with hands).
Qualifications:
Minimum Education
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Bachelor’s Degree in Accounting, Business Administration, or Economics is required.
- Master’s Degree and/or CPA is preferred. Relevant work experience may take place of Master’s Degree &/or CPA.
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Requires 3-5 years of Healthcare experience as a Director of Finance or higher.
Required Skills
A dynamic thinker that is comfortable in challenging conventional wisdom, is highly motivated, and whose customer service skills would be considered to be excellent.
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Demonstrated knowledge of general accounting principles, along with proficiency in revenue recognition practices for both Hospitals and Medical Group organizations
Able to deal with conflict without being adversarial.
Comfortable establishing professional relationships with program leadership, physicians, and the Finance Committee of the Board of Directors.
