What are the responsibilities and job description for the Chief Financial Officer position at Bethany Medical?
Chief Financial Officer
“The Largest Independent Established Multi-Specialty Group in Central North Carolina is Seeking a CFO to join our Team!”
VOTED “BUSINESS OF THE YEAR” 2018
VOTED ONE OF THE “FASTEST GROWING COMPANIES IN THE TRIAD” 2019, 2020, 2021, 2022.
Our mission at BMC is to provide excellent care through a Multi-Specialty approach from prevention to intervention of potentially life-threatening health problems.
Job Description
As part of an executive management team, the Chief Financial Officer is responsible for the organization's financial plans, policies, and accounting practices. They will supervise the Collections and Billing Departments, and they will lead and administer the organization’s budgeting processes. The CFO will direct treasury, budgeting, audit, tax, and accounting activities for the organization. They will establish financial reporting systems with controls and standards to safeguard Bethany Medical’s assets and ensure accurate and timely financial information. They will develop accounting and statistical data. The CFO must display a cohesive ability at interpersonal and communication skills, both verbal and written and must be able to engage with staff at all levels of the organization and exercise sound and ethical judgment.
Essential Job Responsibilities
“The Largest Independent Established Multi-Specialty Group in Central North Carolina is Seeking a CFO to join our Team!”
VOTED “BUSINESS OF THE YEAR” 2018
VOTED ONE OF THE “FASTEST GROWING COMPANIES IN THE TRIAD” 2019, 2020, 2021, 2022.
Our mission at BMC is to provide excellent care through a Multi-Specialty approach from prevention to intervention of potentially life-threatening health problems.
Job Description
As part of an executive management team, the Chief Financial Officer is responsible for the organization's financial plans, policies, and accounting practices. They will supervise the Collections and Billing Departments, and they will lead and administer the organization’s budgeting processes. The CFO will direct treasury, budgeting, audit, tax, and accounting activities for the organization. They will establish financial reporting systems with controls and standards to safeguard Bethany Medical’s assets and ensure accurate and timely financial information. They will develop accounting and statistical data. The CFO must display a cohesive ability at interpersonal and communication skills, both verbal and written and must be able to engage with staff at all levels of the organization and exercise sound and ethical judgment.
Essential Job Responsibilities
- Oversee and implement contracts with Payors.
- Manage Billing Team Leads and provide oversight to the entire billing department.
- Plan, develop, organize, implement, direct, and evaluate the organization's fiscal function and performance to include oversight of all financial-related systems.
- Participate in the development of the corporation's plans and programs as a strategic partner. Evaluate and advise on the impact of long-range planning, introduction of recent programs/strategies, and regulatory action.
- Owns the budgeting process and develops credibility by providing timely and accurate analysis of budgets, financial reports, and financial trends to assist the CEO, President, and Vice Presidents.
- Enhance and/or develop, implement, and enforce policies and procedures of the organization by way of systems that will improve the overall operation and effectiveness of the corporation and ensure fiscal compliance.
- Establish credibility with the CEO, President, Vice Presidents, senior management team, and throughout the organization.
- Continual improvement of the budgeting process through developing capability in department managers on financial issues impacting department budgets.
- Provide strategic financial input and leadership on decision-making issues affecting the organization, i.e., multi-site, multi-specialty operations and ancillary operations, etc.
- Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position.
- Develop a reliable cash flow projection process and reporting mechanism that includes a minimum cash threshold to meet operating needs. Works with Revenue Cycle Manager to achieve the set goals and drive continual improvement.
- Be an advisor from the financial perspective on any contracts into which the corporation may enter. This includes ownership and expertise in Managed care/payer contract comprehension and oversight.
- Provide Leadership and Oversight by directly reporting to the following department areas: Medical Records, Accounting, Information Systems/Compliance, Materials Management, and Business office operations.
- Enact cost optimization and negotiate pricing with vendors.
- Strategic Leadership - The ability to set long-term strategies for the organization and develop comprehensive actions to achieve those chosen strategies.
- Organization Engagement - The ability to communicate with groups within the organization in an engaging and motivational manner to move the organization toward chosen strategies and goals.
- Speaking - Talking to others to convey information effectively.
- Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Judgment and Decision Making- Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- The ideal Candidate will have a master’s degree in accounting or a related field.
- Bachelor’s degree in business administration is a must.
- Minimum ten (10) years of experience in Healthcare Accounting.
- Prior CFO experience of at least three (3) years preferred in a multi-specialty practice setting.
- Must have experience with medical billing.
- Competitive Annual Salary
- Employee medical/dental/vision insurance. Family coverage is available at a discounted rate.
- 401K with company matching.
- Employee Life Insurance
- Employee Short Term Disability
- Incentive-based monthly bonus program
- Paid Time Off and Paid Holidays
