A large physician owned practice (20+ physicians) in South Central Texas is seeking a Chief Operating Officer/Chief of Finance.
The practice is a highly successful and established group practice looking to recruit a financial executive to our practice to partner with our CEO and the leadership team to plan and direct the growth and development of the business. While this position is finance focused, the long term plan is to migrate to the position of Chief Operating Officer/Executive Director.
General Responsibilities Under the direction of the CEO, this position is responsible for all financial and revenue cycle operations of the practice. This position reports directly to the CEO, and will develop, recommend, and implement policies and procedures to ensure accomplishment of the financial goals and objectives.
Specific Duties Financial: • Oversees financial operations and revenue cycle • Develops and presents an annual budget to the Board for approval prior to the beginning of each fiscal year, and provide monthly reports and forecasts. • Conducts long-range financial planning to ensure sufficient funds are available to meet all operational needs as well and strategy and initiatives of the company. • Analyzes budget vs. actual revenues, expenses, cash flow and other financial results on a monthly and quarterly basis and reports to the Board • Creates and presents monthly and quarterly key performance indicators and other operational or financial reports, as needed, to the Board
• Ensures complete, maximum, and accurate revenue capture and collection • Manages and maximizes terms of payer contracts • Manages and reports on outside contractor relationships and performance. • Develops and presents recommendations to Board for a physician compensation model • Analyzes the practice's fee schedule regularly to ensure fees are comparable to the market Administrative: • Manages and represents the company in its relationships with all outside professional services including hospital contracts, EMR providers, billing companies, legal, accounting/tax, health organizations, third-party payers, governmental leaders and agencies. • Implements short and long-term strategic business objectives developed in conjunction with the Board • Develops and maintains policies and procedures that ensure efficiency, effective internal controls, and compliance with applicable regulations and laws • Ensures compliance with HIPAA/HITECH, OSHA, Medicare/Medicaid, ERISA, and other laws and regulations.
Leading candidates will have 5+ years of experience in a private practice setting, preferably in CFO/COO/Controller/Finance Manager role. Bachelors degree required, Master in Business/Finance/Healthcare Administration preferred. The preferred candidate will have experience in private practice with a large physician (10+ physicians) group, developing and administering a productivity based compensation system and overseeing financial operations of a large medical group. Excellent written and verbal communication skills are required. Ability to present financial information in a logical format to the board and in a way that assures understanding of the financial impact of decisions by the partners.
Success in this role will be contingent upon demonstrating competency in the following areas: problem solving, customer service, interpersonal skills, teamwork, leadership, change management, organizational support, judgment, initiative, adaptability and dependability.
Internal Number: 1001
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