Nestled in more than 200 miles of award-winning pet-friendly beaches, world famous seafood and maritime history and culture lies Apalachicola, Florida. Known as the Forgotten Coast, Franklin County, Florida is a wonderfully historic community. Apalachicola, which is the county seat, has a population of approximately 3500 residents. George E. Weems Memorial Hospital (WMH), located in Apalachicola, is a county-owned, critical access hospital. WMH is currently accepting applications for a Chief Financial Officer (CFO).
The Hospital CFO is assigned onsite financial responsibility for a facility under a management agreement with George E. Weems Memorial Hospital (WMH). The CFO administers, directs and monitors all hospital financial activities and keeps the WMH CEO and the Governing Board of Trustees informed of the financial condition of the organization. The WMH organization is comprised of the hospital, two primary care clinics, and the county's ambulance service.
Essential Duties and Responsibilities:
- Works with the hospital CEO, hospital board and employees to develop financial goals and objectives for the organization.
- Provides proactive, sound guidance regarding management of assets and investments, and financial trends within the organization.
- Is actively involved in hospital leadership, organizational performance and the growth of a team-oriented culture.
- In conjunction with the CEO, establishes a strategic financial plan for the organizations part of the WMH's strategic planning process.
- Employs a system of responsible accounting, including budget and internal controls.
- Ensures that all balance sheet accounts are reconciled on a monthly basis and a system of internal controls is in place to facilitate a clean audit opinion with no audit adjustments or internal control deficiencies noted.
- Develops organizational and departmental budgets, submits to CEO and Governing Boards for approval, monitors compliance and works with CEO and administrative team to achieve or exceed established net profit.
- Develops and tracks financial performance metrics for internal achievement and external benchmarking with peers, educates leadership and governing bodies in the relevance of established metrics and provides for usefulness of metrics in achieving or exceeding net profit.
- Ensures monthly financial productivity and other reports are completed and distributed on a timely basis.
- Presents financial reports to governing boards on a monthly basis.
- Maintains effective revenue cycle processes to keep patient accounts receivable at an acceptable level and also increasing the organization's cash flow.
- Maintains a thorough working knowledge of federal, state and managed care reimbursement payment methodologies, including: contractual accounting, payment calculations, billing requirements and compliance issues.
- Keeps up to date with all federal statutes surrounding participation in the Medicare and Medicaid programs, including, but not limited to: EMTALA, Medicare fraud and abuse issues, Stark legislation, and IRS guidelines pertaining to the operation of not-for-profit, and governmental entities.
- Specific areas of responsibility include: patient financial services; maximizing cash flow consistent with sound credit and collection policies, while maintaining good rapport with the community; financial reporting with detailed analysis of financial statements and variances from budget; audits of financial statements and internal controls; examination of insurance policies to ascertain that hospital assets are properly insured against loss and that the hospital's liability coverage meets hospital's requirements.
- Monitors capital asset expenditures and depreciation, as well as capital budgets and cash flow projections; arranges lines of credit and maintains proper banking relations; and adheres to Hospital compliance standards and procedures.
- Typically supervises the areas of Accounting, Admitting/Registration and Patient Financial Services. May oversee other departments as required by CEO.
- Keeps the CEO and Hospital Board aware of all key financial developments.
- Ensures that accounts payable are paid in accordance with the contract terms; working closely with CEO and hospital board to resolve any payment issues quickly.
- Monitors billing companies and other internal departments for timeliness and completeness of billing and maximizes collection of billable charges.
- Monitors and updates chargemaster and other revenue cycle components to maximize revenue.
- Maintains thorough knowledge of various payors, payments and payment scenarios to remain up to date on current guidelines and payment amounts assuring effective and efficient billing of services to maximize revenues.
- Manages financial assistance program to maximize benefit to organization and community and implements programs to minimize bad debt.
Educational and Experience Requirements:
- Bachelor's degree in accounting, or related field;
- Masters in accounting or healthcare administration preferred;
- Minimum of five years hospital financial management experience required;
- Prior hospital CFO experience preferred;
- Critical Access Hospital experience preferred;
Certificates, Licenses and Registrations: