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VP of Financial Operations - Franklin, United States - Community Health Systems
Description
Job DescriptionSummary:
The Vice President of Financial Operations primary functions are to assist the Vice President of Operations and the Regional President with meeting or exceeding the yearly profit objectives for the Region, monitoring hospital capital expenditures for contract and budget compliance, working closely with the CEO and CFO of each facility during the evaluation of new services, and coordinating Regional efforts towards the hospital managed care development.
This position will oversee financial operations for the state of Mississippi and report directly to the VP of Operations for the Region.
Essential Duties and Responsibilities include the following. Other duties may be assigned.
Facilitate monthly close at the hospitals, ensuring all close schedules are met and all corporate accounting policy and procedures are followed.
Prepare for Corporate monthly operation review with the Regional President,
Monitor hospital capital expenditures for contract and budget compliance with assistance from team members.
Review and make recommendations to the Regional President for non-budgeted capital items and capital items above the hospital CEO approval level.
Review CERs and maintain regions discretionary funds.Work closely with the hospital's CEO and CFO during the evaluation of new services, which includes reviewing the need of the proposal and the financial impact of the new service.
Make recommendations to the Regional President on the pursuit of proposed new service lines.Ensure all new services have had the appropriate legal, reimbursement and accounting reviews performed prior to approval.
Coordinate/review deal points and contracts and make appropriate recommendations to the Regional President.
Coordinate Regional efforts in managed care development in conjunction with VP-Business Development/Managed Care
Review all managed care contracts submitted by the hospital and the related recommendations form the VP-Bus. Dev. And make appropriate recommendations to the Regional President.
Implement appropriate managed care tracking at each facility.
Set the expectations for the Region's business office managers.
Review/monitor progress in AR days, Bad Debt, past results, etc.
Work closely with the Director of Business Operations to resolve business office issues – training workflow, collections, etc.
Ensure that there are appropriate initiatives at each facility to address hospital specific issues – skill mix, supplies, purchased service costs, medical specialist fees, etc.
Work closely with Internal Audit to ensure the financial integrity of the hospital's financial statements.Assist in implementation of Internal Audit recommendations and ensure hospital compliance with SOX guidelines.
Review all budget packages with the CEO, CFO, and CNO of each facility – Projections. Operations Budget and Capital Budget.
Prepare Regional President for corporate budget reviews.
Verify the accuracy of the due diligence model prepared by Acquisitions.
Evaluate the major deal points relative to the future financial operations.
Verify the adequacy of reserves included in the contract.
Coordinate all transition issues after the sale is completed – Accounting, IS, Staffing, etc
Work with executive recruiting and other members of the Region to interview and select CFOs and ACFOs for the Region's hospitals.
Work with compensation function and company CFO to determine hospital CFO and ACFO compensation.Develop the Region's CFOs by ensuring that there is adequate training and awareness of corporate policy and procedures, changes in accounting procedures, etc.
QualificationsTo perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Reasoning Ability
Ability to define problems, collect data, establish facts, and draw valid conclusions.
Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
Computer SkillsTo perform this job successfully, an individual should have knowledge of Word Processing software; Spreadsheet software and Database software.
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
Certificates And Licenses
CPA preferred
Education/Experience
Bachelors degree in related field required; accounting preferred
Masters degree preferred
Eight (8) + years of accounting and audit experience
Acute care hospital CFO level experience preferred
Public accounting experience preferred
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