This position is located a Whitfield Regional Hospital in Demopolis AL. The CFO of the hospital reports to the CEO/Administrator of WRH but will be an employee of the UAB Health System. The CFO has executive responsibility for and authority for the financial functions of Whitfield Regional Hospital.
GENERAL SUMMARY
The Chief Financial Officer provides leadership, direction and administration of the daily financial operations to ensure a cost effective and efficient healthcare operation along with supporting high quality, economical healthcare services. He/she is responsible for accounting and financial reporting, corporate finance and treasury functions, management of information systems, materials management, revenue cycle, and health information systems. Responsible for providing executive leadership and the management of financial resources to ensure achievement of business plans and objectives, and to preserve the assets and financial standing of the company. The CFO is a key member of the company’s senior executive management team.
IMMEDIATE SUBORDINATES: Admitting Supervisor, IT Director, Purchasing Director, AP Clerk, Centralized Scheduling Supervisor, Accountant, Payroll Clerk
KEY RESPONSIBILITIES
Works through the management team and medical leadership to manage the financial responsibilities of the organization; serving as a resource to improve revenues, reduce costs, and achieve utilization and quality goals and objectives. Works with the CEO in developing the financial plan and strategic plan for both short-term and long-range plans. Will work collaboratively to develop and prepare short-term and long-range plans based upon broad organizational goals and growth objectives. As the CFO, will direct and participate in growth activities, including investigations, evaluations, and negotiations in accordance with overall mission, objectives and plans of the organization. Works with department leaders to prepare the hospital/department budgets and allocations of funds based on reviews of department estimates/recommendations. Submits budgets for the organization and those areas reporting to this position and ensures administrators and managers understand and can explain variances, both positive and negative. Ability to communicate to senior leadership and the various board authorities of the organization financial performance, regulatory impacts, and material variances to budgets. Completes the preparation of all necessary financial reports to direct hospital operations to achieve budgeted results and other financial criteria to preserve the capital funds invested in the organization. Directs and works to improve the company’s financial planning and measurement/projection techniques, and reviews and oversees the development of business plans, performs various cost analysis and projections, profitability plans, return on investment analysis and budgets to ensure the attainment of the hospitals and financial goals. Oversees the treasury operations of the company including, but not limited to: cash management, securing and managing credit, debt financing and managing bond covenants on behalf of the company and other activities as appropriate. Assures compliance with accounting standards, legislative, and other requirements through the establishment of accounting/tax policies and procedures, maintenance of accounts and records. Responsible for coordinating the hospital’s annual audit, ensuring timely and accurate participation with external auditors, similar responsibilities for cost reporting. Manages and monitors the activities required for an optimal revenue cycle including but not limited to order-to-cash procedures, denials management, clinical documentation, charge master, etc. Develops an effective financial department as required by continued growth through the selection, training, and development of financial personnel. Continuously communicates to staff sounds financial performance; and champions out successes and priorities for improving performance in meeting organization goals and exceeding patient and customer expectations. Creates a work environment that is in alignment with our values.