Chief Financial Officer - Northwest Medical Center - Springdale
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Job Summary
Northwest Medical Center - Springdale is a 222-bed facility offering a range of services including open-heart surgery, neurosurgery, a Chest Pain Center, behavioral health services, and an acute-care inpatient rehabilitation unit.
The Chief Financial Officer (CFO) is responsible for providing financial leadership and decision-making to support the hospital's mission and strategic objectives. This role oversees financial operations such as expense management, revenue cycle, budgeting, forecasting, financial analysis, and capital planning. The CFO collaborates with departments including Accounting, Patient Access, Health Information Management, Revenue Management, Physician Practice Services, Managed Care, and Human Resources. The CFO also manages financial risks and oversees financial reporting. Departmental responsibilities include Accounting, Case Management, Information Systems, and more.
Essential Functions
- Provides financial leadership to hospital staff and management to support, create ownership, and encourage decisions that positively impact the hospital’s financial performance.
- Develops and implements strategies for revenue growth and margin improvement to meet financial goals.
- Participates in state and federal funding initiatives to improve reimbursement for the facility and providers.
- Analyzes costs, operations, and forecast data on service lines in collaboration with senior leadership to monitor financial targets.
- Develops and enforces financial policies, procedures, and long-term goals.
- Identifies opportunities for cost reduction and partners with leadership to eliminate non-value costs.
- Ensures compliance with financial regulations and standards.
- Works with providers to monitor quality metrics aligned with financial objectives.
- Oversees accuracy of General Ledger entries and bank reconciliations.
- Monitors hospital cash receipts and disbursements for accuracy and controls.
- Prepares and presents monthly financial reports to staff and leadership.
- Prepares exhibits for third-party reimbursement contractual allowances.
- Performs other duties as assigned and ensures policy compliance.
Qualifications
- Bachelor's Degree in Accounting or Business required.
- Master's Degree in related fields preferred.
- 8-10 years of healthcare financial management experience required.
- 5-7 years in a senior financial leadership role within a hospital or healthcare system required.
- 1-3 years of recent CFO experience in an acute care hospital within a proprietary health system preferred.
Knowledge, Skills, and Abilities
- Deep knowledge of healthcare financial operations, revenue cycle, and reimbursement.
- Strong analytical, problem-solving, and communication skills.
- Leadership skills to motivate and guide staff.
- Proficiency in financial systems and ERP tools.
- Commitment to regulatory compliance and ethics.
- Ability to manage multiple priorities in a fast-paced environment.
Licenses and Certifications
- CPA or CHFP preferred.
Additional Details
- Seniority level: Executive
- Employment type: Full-time
- Job function: Finance and Sales
- Industries: Hospitals and Healthcare