Chief Financial Officer

Company: ACG Cares
Location: Terre Haute
Posted on: March 31, 2025

Job Description:

The Chief Financial Officer provides leadership and direction for financial services throughout Union Health. This individual is responsible for the development and implementation of providing credible financial analysis and guiding decisions to preserve the financial position and performance of the organization. The CFO will participate with other senior management to address, interpret, resolve and monitor a broad and diverse range of financial, operational and strategic issues. The CFO contributes to the overall management of the organization by driving key strategies and financial performance as a member of the Senior Leadership Team.Job Duties

• Exercise financial management and leadership to support the organization and the efficient delivery of services that meet the needs of patients, families, and the community.
• Actively participate with the Board and senior management in setting the strategic direction for the hospital.
• Maintain accountability to the CEO for the financial results of the hospitals and physician organization and all related entities.
• Work collaboratively and effectively as a member of the senior leadership team in developing overall strategies to position the organization for financial sustainability.
• Oversee all finance functions, including financial reporting, accounting, managed care contracting, operating and capital budget process, strategic financial planning and analysis, patient accounts, patient access, revenue cycle/business office functions, land acquisitions and disposals, insurance coverage and treasury functions.
• Plan, organize, coordinate, and control financial policies to control receipt of revenue, expenditure of funds, and conservation of the organization's assets.
• Establish an integrated financial plan of operation, short-term and long-term, compatible with the Health System's strategic plan.
• Implement contemporary, best practice processes for budgeting, financial planning, capital planning, and capital investment decision making and reporting.
• Negotiate agreements with payors for healthcare services, including a strong knowledge of understanding risk contracts.
• Provide consultation to the Board in areas of organizational and financial strategy and policy to keep the governing body aware of trends, innovations and opportunities that will support the system's strategic directions.
• Establish a formal budget program providing a standard of measurement to evaluate actual performance on a timely basis.
• Lead budgeting efforts to ensure that organizational processes are efficient, effective and integrated; work with clinical and operational leaders in making their operating and capital budgets efficient. Provide variance analysis education and support to operations and clinical leaders and others as appropriate.
• Provide leadership for strategic financial and capital decision making; see the "whole picture" and monitor balance sheet performance and appropriate capital distribution as part of the capital allocation process.
• Provide financial and strategic analysis of all proposed projects and their short- and long-term impact on the overall financials of the organization.
• Manage and track the performance of the organization's investments in compliance with the policies and investment guidelines established by the Board.
• Work closely with the Board to analyze and determine short-term investments as appropriate for a public hospital.
• Maintain standards in accordance with regulatory, licensing and credentialing agencies, Generally Accepted Accounting Principles as well as regulatory and general audit requirements.
• Keep abreast and ensure compliance with directives issued by governmental/regulatory agencies or third-party payors.
• Work closely with those throughout the organization, in particular, to address revenue cycle and cost reduction issues, work redesign and overall performance improvement efforts.
• Develop a team within the Finance department who can lead continuous improvement efforts to improve finance departmental processes and effectiveness.
• Ensure the development and retention of the next generation of finance leaders through passionate mentorship and a genuine commitment to others' success.
• Interview, hire, develop, counsel, direct, coach, and, when necessary, discharge subordinate personnel. Counsel subordinates regarding resolution of complex employee relations problems in their areas.
• Recognize the importance of the teammate community; foster a collaborative and rewarding work environment.Education:Graduate degree in business administration, health care administration, management or related field.Knowledge and Work Experience:
  • Successful financial management experience, preferably as a Chief Financial Officer or strong number two in a successful, complex health system.
  • Experience in the areas of finance, managed care contracting, information systems, treasury, revenue cycle operations, business operations, strategic planning and board presentations.
  • Expertise in cash management and prudent oversight of risk payment/pay-for-performance contracting models under managed care and government insurance programs.
  • Experience in using and developing realistic financial projections and analysis to support decision making.
  • A good working knowledge of cost/productivity management systems and experience creating business intelligence tools in support of clinical and operational areas.
  • A proven track record of leading projects and teams as well as excellent project management skills and experience managing multiple priorities.
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Keywords: ACG Cares, Terre Haute , Chief Financial Officer, Accounting, Auditing , Terre Haute, Indiana