Chief Business Officer for a Large Private Practice Anesthesia Group
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Department : Anesthesiology
Location : Knoxville, TN
Reports To : Chairperson
Position Summary :
The Chief Business Officer will provide comprehensive administrative, financial, and operational support to the Anesthesiology Department. This role includes assisting with strategic planning, financial management, and operational oversight to ensure the group's efficient functioning. The manager will work closely with the Chair, partners, and administrative staff to support the group's mission of clinical excellence, education, and research.
Key Responsibilities :
- Strategic Planning and Support :
Assist the department in developing and implementing strategic plans aligned with the stated mission.
Identify growth opportunities and potential areas for improvement within the practice.Collaborate with the Chair to drive initiatives that enhance patient care, education, and research.Facilitate the alignment of group operations with both clinical and academic missions, ensuring seamless collaboration between the independent practice and its academic counterparts.Assist the Chair in the development of strategic initiatives to enhance operational efficiency, financial sustainability, and workforce stability.Support the mission and vision of the Chair by acting as a key liaison between physicians, hospital administrators, and external stakeholders to build consensus and drive strategic goals.Financial Management :Assist in managing the annual revenue and expenses in alignment with expectations, including forecasting and financial planning.
Monitor financial performance, analyze variances, and recommend corrective actions.Oversee billing, coding, and reimbursement processes to maximize revenue and ensure compliance.Prepare and analyze quarterly financial reports for the Chair and other stakeholders.Develop and implement transparent financial reporting processes, including dashboards and regular updates for stakeholders.Assist with payer contract negotiations to optimize reimbursement rates and ensure long-term financial health.Provide actionable financial analysis and recommendations for all strategic ventures to ensure profitability and sustainability.Operations Management :Ensure efficient daily operations of the anesthesia practice, including scheduling, staffing, and resource allocation.
Implement and maintain policies and procedures to optimize workflow and patient care.Manage vendor relationships and assist in negotiating contracts for services and supplies.Assist with hospital contract negotiations.Oversee compliance with healthcare regulations, accreditation standards, and institutional policies.Continuously assess and adapt the scope of responsibilities to align with the evolving needs of the group.Human Resources Support & Workforce Development :Supervise administrative and support staff, providing guidance, training, and performance evaluations.
Lead a collaborative effort to recruit, hire, and retain qualified personnel.Promote a positive work environment and foster teamwork and professional development.Collaborate closely with HR and recruitment teams to address CRNA staffing challenges, with a focus on retention strategies and market-competitive compensation.Play an active role in workforce planning, including scheduling optimization and strategic staffing for clinical and academic responsibilities.Cultural and Collaborative Leadership :Foster a culture of collaboration and trust within the group by actively engaging with stakeholders and addressing diverse perspectives.
Demonstrate humility and emotional intelligence, maintaining a supportive and ego-free leadership style to navigate complex group dynamics.Quality Improvement and Compliance :Assist with quality improvement initiatives to enhance patient safety and care outcomes.
Ensure adherence to clinical guidelines, protocols, and best practices.Conduct regular audits and assessments to identify areas for improvement and implement corrective actions.Build trust within the group by delivering consistent, data-driven insights that inform decision-making and align with organizational goals.Qualifications :
Bachelor's degree in healthcare administration, business, or a related field (Master's preferred).Minimum of 5 years of experience in healthcare management, preferably in a private practice setting. Anesthesia experience is a plus.Strong financial understanding and experience with budgeting, economic analysis, and revenue cycle management. Coordinate and work with various advisors to assure proper reporting such as UAs accountant, pension advisors, and legal counsel. Advanced training or certifications a plus (such as CPA).Excellent leadership, communication, and interpersonal skills.Ability to manage multiple priorities and work effectively in a fast-paced environment.Knowledge of healthcare regulations, accreditation standards, and compliance requirements.Commit to a long-term tenure with the group, contributing to leadership continuity and institutional memory.Work closely with the current administrator during the transition period to learn and retain critical institutional knowledge.Skills :
Strategic planning and problem-solving abilities.Strong organizational and project management skills.Ability to build and maintain positive relationships with clinical staff, faculty, and external stakeholders.Emotional intelligence and collaborative leadership style.Working Conditions :
Full-time position with potential for extended hours during peak periods.Office environment within a hospital or academic medical center.Some remote work possible.Job Type : Full-time
Pay : $50,000.00 - $320,000.00 per year
Ability to Relocate :
Knoxville, TN 37920 : Relocate before starting work (Required)Work Location : In person
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Salary : $50,000 - $320,000
