Chief Financial Officer in Hopedale

Hopedale Medical Complex - Hopedale, IL

Full-time - Senior

Hopedale, IL

Hospitals

About the position

The Chief Financial Officer (CFO) at Hopedale Medical Complex (HMC) plays a crucial role in the financial and functional decision-making processes of the hospital. This position is responsible for providing strategic oversight and management of all financial matters, working closely with the CEO and COO to support the hospital's mission and performance. The CFO will lead the development of budgets, financial statements, and ensure compliance with financial regulations while enhancing the overall operational effectiveness of the organization.

Responsibilities

• Assists the hospital's administration in developing long and short-range strategic plans.
• Prepares and presents monthly, quarterly, and annual financial statements to the governing board in accordance with generally accepted accounting principles.
• Responsible for the development of operational and capital budgets for the hospital and all departments, establishing processes for timely review of performance against approved budgets.
• Ensures maximum efficiency in patient financial services and manages all areas of receivables management.
• Consults and negotiates with third-party payers regarding payment rates to the organization.
• Owns the budgeting process and provides timely and accurate analysis of budgets, financial reports, and trends to assist management.
• Administers policies for cash management, investment portfolio management, debt financing, and insurance programs.
• Provides leadership in revenue cycle management and related billing and collections services.
• Leads the establishment of patient charges and assists in vendor service and supply contract negotiations.
• Directs financial planning and accounting practices, overseeing treasury, budgeting, audit, tax, accounting, purchasing, real estate, and insurance activities.
• Enhances and implements policies and procedures to improve operational effectiveness and ensure fiscal compliance.
• Appraises the organization's financial position and issues periodic financial and operating reports.
• Analyzes, consolidates, and directs cost accounting procedures and routine reports.
• Works with system management to develop and implement policies, goals, and plans.
• Ensures compliance with financial regulatory requirements and contributes financial expertise in planning new services.
• Manages costs by identifying opportunities to eliminate non-value costs in collaboration with other executives.
• Performs other related work as required or requested.

Requirements

• Master's degree in accounting or finance is required; may substitute bachelor's degree and CPA for master's degree.
• Minimum 1 year of progressive managerial experience in financial/accounting within an acute-care environment is required.
• Knowledge of Critical Access Hospitals is a plus.
• Experience with revenue cycle and cash flow forecasting is required.
• Proficiency in written and verbal communication skills is required.
• Ability to establish and maintain effective working relationships with hospital staff and the community is required.
• Ability to maintain confidentiality concerning personal, financial, and medical matters is required.

Benefits

• Excellent benefits
• Quality childcare located on campus, with employee discount
• Wellness Center membership
• 401(k) plan with employer match