Universal Health Services - West Allis, WI
posted 4 months ago
Granite Hills Hospital, a state-of-the-art inpatient psychiatric facility located in West Allis, Wisconsin, is seeking a Chief Financial Officer (CFO) to oversee the financial operations of the hospital. As part of Universal Health Services, Inc. (UHS), one of the largest and most respected providers of hospital and healthcare services in the nation, the CFO will play a critical role in ensuring the financial health and sustainability of the hospital. The CFO will be responsible for monitoring and controlling accounts receivables, ensuring that cash collection goals are met, and that net revenue is accurately stated. This includes facilitating weekly accounts receivable meetings with the CEO and Business Office Manager to communicate results and identify areas for improvement. The CFO will also work closely with the Business Office, Intake, and Utilization Review departments to maximize patient revenue. In addition to overseeing accounts receivables, the CFO will focus on improving the profitability of the hospital by continually monitoring costs, especially staffing in relation to patient volume. The CFO will analyze the payor mix and length of stay to maximize reimbursement and assist in negotiating contract terms with third-party payers. The role requires preparing pro-forma analyses of new programs and contracts to determine their estimated outcomes, as well as monitoring and evaluating the success or failure of implemented programs, including physician arrangements. The CFO will develop and monitor policies and procedures in accordance with generally accepted accounting principles and corporate guidelines to ensure sufficient cash flow, reduced operating costs, and increased revenues. Monthly financial statements, financial packages, and other informational reports will be prepared by the CFO, who will conduct account analyses, variance analyses, and journal entries to accurately reflect the hospital's operating results. The CFO will also provide required reporting, including reconciliations and account analyses for various departments, aiding in the preparation of reports. An essential part of the role is preparing the annual budget in conjunction with UHS standards. The CFO will collaborate with management and department heads to review prior financial results and discuss anticipated changes, highlighting future needs and trends of the facility while aligning with UHS objectives. The CFO will also perform other duties as assigned or required, contributing to the overall success of Granite Hills Hospital.