Crestwyn Behavioral Health - Memphis, TN
posted 3 months ago
About the position
Acadia Healthcare is seeking a Chief Financial Officer (CFO) for Crestwyn Behavioral Health, a state-of-the-art facility located in Germantown, Tennessee. The CFO will play a crucial role as part of the senior leadership team, participating in financial and functional decision-making processes essential for achieving the facility's operational and financial goals. This position is responsible for overseeing all financial operations and managing the day-to-day fiscal activities of the facility. The CFO will ensure that monthly financial statements are completed accurately and on time, and that all balance sheet accounts are reconciled monthly in compliance with company policies. Additionally, the CFO will prepare corporate-required reports, including the Monthly Operating Report and Corporate Disclosures, ensuring they are timely and accurate. The CFO will also direct the operations of the Revenue Cycle, ensuring timely collection of accounts receivable and minimizing uncompensated care. This includes striving to achieve goals for cash collections and reducing bad debt and denials. The CFO will maintain a thorough understanding of federal, state, and managed care reimbursement methodologies to ensure accurate payments and proper recording of revenue deductions. Furthermore, the CFO will supervise various departments, including Accounting and Patient Accounting, ensuring they are adequately staffed and trained. The role also involves preparing the annual operating budget and participating in the strategic planning process, providing ongoing analysis of budget variances, and assisting the CEO in implementing necessary changes to meet budget goals. Overall, the CFO will be integral in maintaining the financial health of Crestwyn Behavioral Health, ensuring compliance with internal controls, and facilitating a clean audit process. This position offers a challenging and rewarding work environment, with opportunities for growth and development within Acadia Healthcare.
Responsibilities
- Ensures that monthly financial statements are completed timely and accurately.
- Ensures that all balance sheet accounts are reconciled on a monthly basis and in compliance with company policies and standards.
- Prepares corporate required reports (including the Monthly Operating Report, Monthly Certifications, Corporate Disclosures, Forecasts) timely and accurately.
- Ensures all accounting and business office policies and required internal controls are in place to facilitate a clean audit with no material audit adjustments or deficiencies found.
- Directs the operations of the Revenue Cycle to ensure that accounts receivable is collected timely and uncompensated care is kept to a minimum.
- Strives to achieve goals for cash collections and AR days and to reduce bad debt and denials.
- Routinely reviews revenue cycle metrics to proactively identify and address issues affecting overall performance.
- Ensures Front End Revenue Cycle processes are in place including insurance verification for 100% of patients.
- Works with the Financial Counselor to ensure proper determination of patient portions and approval of discounts or charity and proper logging of upfront collections.
- Maintains a thorough working knowledge of federal, state and managed care reimbursement methodologies.
- Facilitates preparation of any required cost reports.
- Supervises Accounting, Patient Accounting, Health Information Management, Materials Management and other departments assigned by the CEO.
- Ensures department is adequately staffed and trained.
- Ensures compliance with Group Purchasing contract and monitors purchases to ensure supply costs are kept to budgeted levels.
- Prepares annual operating budget and participates in the annual strategic planning process.
- Provides ongoing analysis of variances from budget and assists the CEO in implementing changes needed to achieve budget goals.
- Prepares annual capital budgets and Capital Equipment Requests.
Requirements
- Bachelor's degree in Accounting or business-related field with major in Accounting.
- Minimum 3 years successful CFO experience in a healthcare setting desired.
- Previous Behavioral healthcare experience highly preferred.
- Previous experience with a proprietary healthcare system highly preferred.
- CPA or Master's degree a plus.
- Proven financial analysis skills.
- Experience working with information technology and proficiency with software packages including Excel and Word.
- Demonstrated leadership ability.
- Excellent communication skills, both written and verbal.
- Ability to think strategically and solve problems.
- Ability to establish and maintain effective working relationships with facility staff, physicians and corporate staff.
- Ability to lead with a high degree of emotional intelligence and ethics.
Nice-to-haves
- Experience with proprietary healthcare systems.
- Master's degree in a related field.
- CPA certification.
Benefits
- Competitive Compensation
- Bonus opportunity
- Relocation benefits
- Growth and development opportunities within Acadia and its subsidiaries
- Excellent Medical, Dental, Vision and Prescription Drug Plan
- 401k plan with company match
- Tuition Reimbursement
- Challenging and rewarding work environment
