Chief Financial Officer, Health Plan Services - Health Plan Services

Cook County Health

Full-time - Senior

Hospitals

About the position

The Chief Financial Officer (CFO) for Health Plan Services is a pivotal role responsible for overseeing the financial performance and viability of various health plan services, including Medicaid Managed Care Plan product lines and Medicare Advantage Plan Services. This position entails comprehensive management of all financial functions, ensuring that financial activities align with the strategic goals of the organization. The CFO will provide leadership and direction in financial analysis, budgeting, medical economics, and revenue management, while also coordinating financial decision-making with the Chief Financial Officer of Cook County Health (CCH). The role requires a strategic mindset to develop and implement financial strategies that support the organization's mission of delivering quality healthcare services. In addition to financial oversight, the CFO will engage in collective bargaining processes, ensuring compliance with applicable agreements and policies. This includes reviewing collective bargaining agreements, participating in negotiations, and documenting disciplinary actions as necessary. The CFO will also contribute to the management of CCH staff, developing policies and procedures that enhance operational effectiveness and employee engagement. The CFO will be instrumental in fostering a culture of financial accountability and awareness within the organization. This involves developing budgets for various product lines, monitoring budget variances, and implementing action plans to address discrepancies. The CFO will lead actuarial rate development and participate in contract negotiations, focusing on strategic pricing and ensuring accurate claims processing in collaboration with Revenue Cycle leadership. Furthermore, the CFO will provide guidance and development opportunities for staff, promoting continuous quality improvement and operational excellence.

Responsibilities

• Develop overall financial strategy and budgets for Medicaid Managed Care Plan and Medicare Advantage Plan Services.
• Foster a culture of financial awareness and accountability within the organization.
• Ensure quality and economical healthcare services within system guidelines.
• Drive and model a service-oriented culture focused on employee engagement and patient experience.
• Collaborate with leadership teams to develop and implement clinical and operational services that meet organizational growth initiatives.
• Lead financial and operational performance objectives, including revenue growth and expense management.
• Establish revenue projections and develop the annual budget accordingly.
• Monitor budget variances and implement action plans to address discrepancies.
• Lead actuarial rate development and encounter submission process with HFS.
• Participate in contract negotiations focusing on strategic pricing and rate structures.
• Collaborate with Revenue Cycle leadership to ensure accurate claims processing.
• Provide leadership and development for staff, promoting continuous quality improvement.
• Strategize process improvements for innovative care delivery and operational models.

Requirements

• Bachelor's degree from an accredited college or university.
• Five years of relevant finance-related experience in a complex healthcare or health plan environment.
• Three years of financial leadership experience in a managed care organization.
• Demonstrated ability to achieve results on both strategic and operational levels.
• Prior experience working with large data sets.
• Working knowledge of health plan regulatory and licensing processes.

Nice-to-haves

• Master's degree in business administration, healthcare administration, or related field.
• Prior experience in a leadership role with a Medicaid health plan.
• Prior experience in a leadership role with an urban, publicly supported health system.

Benefits

• Health insurance coverage
• Dental insurance coverage
• 401k retirement savings plan
• Paid holidays
• Flexible scheduling options