What are the responsibilities and job description for the Director of Finance position at Capital Orthopaedics And Sport?
Job Title: Director of Finance
Reports To: Vice President/COO
FLSA Classification: Non-Exempt
Date: December 23, 2024
Job Summary
This position is responsible for the oversight and management of the Central Billing Office (CBO) and non-clinical departments. The person manages staff for efficiency and effectiveness, monitors benchmarks, and reviews practice performance statistics. The Director is responsible to work with individual departments and practice staff alone or in conjunction with assigned supervisors to support the goals and protocols of the revenue cycle workflow or revenue affecting tasks. The individual must be able to process large quantities of data to monitor Key Performance Indicators (KPI) and research all barriers to successful revenue cycle management. The position will act as an ambassador on behalf of the company with customers, clients, and vendors in public.
ABOUT YOU: Essential Character Traits:
- Dependability and Punctual – Follows instructions, responds to management direction; Takes responsibility for own actions; Consistently at work and on time; Commits to long hours of work when necessary to reach goals.
- Team-player - Highly resourceful team-player, with the ability to be extremely effective independently.
- Quality and Quantity – Demonstrates accuracy and thoroughness, while completing work in a timely manner. Utilizes effective time management skills. Pays attention to detail.
- Problem-Solver - Demonstrates proactive approaches to problem-solving and strong decision-making skills. Reacts well under pressure.
- Communicator – Effective management of interpersonal skills, communicates issues with high degree of professional communication through support, and responds as appropriate. Demonstrates strong emotional intelligence, relationship builder with a strong customer focus.
- Motivated – Forward thinker, who actively seeks opportunities to improve processes and efficiencies and proposes solutions. Sets and achieves challenging goals.
- Ethical – Treats people with respect; Keeps commitments; inspires the trust of others; Works with integrity and ethically; Upholds organizational values. Sensitive to cultural differences, values diversity and upholds confidentiality.
- Adaptable – Highly adaptable, embraces changes in the work environment.
Essential Duties and Responsibilities (not limited to):
- Oversight and management of CBO and all non-clinical positions with support from assigned supervisors over front desk, scheduling and billing operations.
- Successful distribution of work among staff members to drive work allocation and productivity.
- Measure and monitor efficiency and effectiveness of staff (i.e. research models for measuring productivity and performance for individual staff members as well as organizational structures to support effective operations.)
- Monitor benchmarks and expectations in relationship to reporting, projects, or departments.
- Review performance statistics leveraging AthenaNet reporting tools, including overall performance metrics, key driver metrics, and staff productivity to present to the COSM leadership team and Board .
- Ability to research and process large quantities of data, analyze trends, and identify areas where behavior is not compliant with expectations. Communicate accordingly through avenues based on organizational policies and procedures.
- Identify improvement opportunities based on performance metrics and trends. (i.e. chart completion and collection performance)
- Develop strategy for routine audits of revenue cycle processes for effectiveness (i.e. coding)
- Research and direct claims resolution in AthenaNet using associated AthenaCollector system knowledge of upstream and downstream impact of work.
- Contract management, A/R oversight, Billing rules management and front desk/scheduling systems.
- Oversight and management of revenue cycle platform tables (i.e., insurance, fee schedule, contracts, etc.).
- Define root cause analysis and drive claims resolution.
- Audit outreach site productivity and payments quarterly in conjunction with reporting.
- Research and assist CBO with any/all barriers to successful revenue cycle management.
- Utilize all available reporting tools to provide insight into financial health of Capital Orthopaedics & Sports Medicine; provide board overviews and perform ad-hoc reporting as requested
- Work with individual departments and practice staff to support the goals and protocols of revenue cycle workflow and tasks.
- Manage new staff onboarding, including compliance, training, testing, and shadowing.
- Performance management and recommendations for annual merit increases, if applicable for assigned departments.
- Develop training material and forms to be used by all non-clinical staff.
- Coordinate training for all staff on all system updates with Phreesia, Athena, etc.
- Oversight and sign-off on hours for CBO and all non-clinical departments for final review and approval by senior management.
- Work directly with Accounting partners for the practice for monthly financials, accounts payable and accurate allocations for the practice
- Deliver monthly financial statements to COSM physicians to communicate key statistics and departmental revenue and expenses
- Assists in the development of annual budgets and reports on variances throughout the year.
- Works directly with PHO to ensure contract monitoring and payments monitoring.
- Oversees the Sage Accounting software
- Work with VP/COO to oversee the Accounts Payable, Banking and overall cash flow of practice
- Other duties as assigned.
Skills and/or Qualifications (not limited to):
- Exceptional communication skills.
- Strong analytical skills.
- Strong problem-solving skills and attention to detail.
- Strong research skills.
Physical Requirements:
- Prolonged period of sitting at a desk and working on a computer
- Prolonged periods of being on phone calls
- Bending/twisting/lifting
- Keen sense of eyesight and hearing
- Ability to lift and/or carry up to twenty (20) pounds
- Ability to stand or sit for an extended period
- Ability to lift, grip, carry, touch, speak, and listen
Education and/or Experience:
- High School Diploma or G.E.D.
- Minimum 2-year post-secondary education, required.
- Bachelor's Degree in Business Administration, Healthcare Administration, or a related field, strongly preferred.
- Certified Professional Coder (CPC), strongly preferred.
- Minimum of 3 to 5 years working in healthcare field, preferably in Orthopaedics.
- Accounting degree desired
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