Executive Director of Finance

Job Summary:

The Executive Director of Finance (EDF), under the direction of the Chief Executive Officer (CEO), provides leadership and strategic direction for all aspects of financial operations, including budgeting, reporting, auditing, and identifies opportunities relating to fiscal functions. The Executive Director of Finance has responsibility for Revenue Cycle, Accounts Receivable, Accounts Payable, Accounting, Payroll teams, and Information Services. This position participates as a productive member of the leadership team, supports the organizational mission and vision while growing our financial position.

Personal qualities & traits:

• Possess personal qualities of integrity, credibility, and commitment to the organization mission. Superior interpersonal and organizational skills
• Ability and desire to translate complex financial concepts to individuals at all levels including finance and non-finance managers.
• Flexible and able to multitask; can work with an ambiguous, fast-moving environment, while also driving toward clarity and solutions; demonstrated resourcefulness in setting priorities and guiding investment in people and systems.
• Demonstrates self-awareness, self-regulation and social awareness in all facets of leading and managing others.
• Excellent organizational skills, attention to detail, written and oral communications.

Essential Duties and Responsibilities:

Finance & Accounting Leadership

• Builds and maintains financial data models, reporting systems, dashboards, and performance metrics to identify business trends and guide data-driven decision-making. Delivers financial reporting and analysis to the CEO, strategic leadership group, and Board of Directors.
• Collaborates actively with the CEO on financial matters of strategic value and importance to the organization and participates actively in identifying solutions and aids in the execution of the same.
• Provides strategic direction, leadership and oversight for all reimbursement and collection activities for all payers including Medicare, Medicaid, commercial insurance and private billing for the billing and collection function to ensure full compliance with all regulatory requirements and accepted standards of practice.
• Exercises oversight of inventory and cost allocation systems and performs and/or directs routine internal audits for cost analysis, inventory control, and financial planning purposes. Responsible for accurate reflection of the company’s financial position on the balance sheet, income statement, monthly/quarterly internal reporting, MD&A, assets, etc.
• Directs the design, maintenance and monitoring of the fund accounting system including accounts payable, accounts receivable, payroll and general ledger to ensure full compliance with all regulatory requirements and standards of practice.
• Provides leadership to and subsequently leads the budgeting process in partnership with CEO, department directors and managers in the preparation and development of their budgets.
• Oversees administration of the organization’s 401k retirement plan and ensures compliance with COBRA, IRS, ERISA and other related regulations.
• Collaborates with and provides leadership and counsel to senior Human Resources leadership specific to the financial modeling and design of group health, dental, vision, and disability plans, etc.
• ACA Compliance Reporting; Working Knowledge of relevant regulatory requirements – CMS, Reimbursement, Charge Master, Financial and Payroll Systems.
• Regularly schedules interdepartmental and departmental meetings to maintain liaison among departments and/or staff.
• Encourages, promotes and values diversity and creativity among and between those with direct reporting relationship to the EXECUTIVE DIRECTOR OF FINANCE and champions the same for others within the organization.

Finance Department & Personnel Management

• Provide leadership in strengthening internal communications with staff at all levels throughout the organization; create and promote a positive and supportive work environment.
• Provide leadership in strengthening internal communications with staff at all levels throughout the organization; create and promote a positive and supportive work environment.
• Provides leadership, conflict resolution, and motivation, and promotes teamwork of employees in achieving agency goals and ensures all appropriate personnel functions are carried out consistent with the organization’s expectations.
• Establishes, maintains, and improves standardized procedures for financial staff to ensure consistent and accurate reporting of data in an efficient manner. Remains knowledgeable of support staff’s roles and responsibilities, as well as all areas of practice to provide continuity of services during position vacancies.

Compliance

• Oversee all accounts, ledgers, and reporting systems ensuring compliance with appropriate GAAP standards and regulatory requirements with guidance from CEO and auditors as necessary.
• Ensures internal controls, policies and procedures are consistent state and federal law, compliance plans, and HIPAA; reports any potential misconduct or violation of the PHC’s Code of Conduct, HIPAA regulations, or federal or state laws and regulations.
• Responsible for monitoring adequate insurance coverage for liability, workers’ compensation and other necessary coverage in accordance with licensure requirements.
• Coordinates identification of contracting needs, develops contracts as necessary, and ensures contracts are current and in compliance with all related laws and regulations, including standards set by CMS, insurance and accrediting bodies.
• Coordinates annual audit by independent auditors, preparation of annual IRS filings and Medicare Cost Reports according to established timeframes.

Revenue Cycle Management (Medical Billing)

• Provides oversight, in collaboration with financial leadership, on the general ledger close as it relates to revenue, accounts receivable and billing.
• Prepares financial statements and reports, analyzes costs of services and makes recommendations to the CEO and Board of Directors.
• Provides direction and oversight of revenue cycle operations, including but not limited to charge capture, billing, claim follow-up and collections, payment application, and denials management.
• Monitors collections to established goals to maximize cash flow and to monitor claim submission to provide ongoing process assessment and resolution.
• Tracks and monitors key revenue cycle performance indicators; reports key findings to appropriate leadership and stakeholders across the organization.
• Ensures systems and processes are in place to ensure compliance with contract requirements around submission of claims, including service provision/documentation, established fee schedules, credentialing, and site enrollments.
• Oversees the analysis and recording of revenue adjustments, write offs and denial activity; provides reporting on trends to management along with suggestions to mitigate future write offs and denied claims. Develops strategies across all functional departments to exceed cash collections, reduce days in AR, and reduce denial and adjustment rates.
• Conducts routine reviews of aging accounts receivable on a monthly basis and ensures proper action on collection of accounts in order to maintain an acceptable level of aging accounts.
• Provides guidance and supports provider enrollment and payer credentialing

Education: 

• Bachelor’s degree in business, accounting, finance, math or related field required.       
• MBA, MHA, MAC (Masters in Accounting) and/or CPA preferred.