Our Client is looking for a Director of Financial Operations to come onto their team for a 2-3 month contract on site in Philadelphia.
The Director of Financial Operations will oversee the revenue cycle, including the medical billing and accounts receivable, and all accounting functions, as well as budget management of our network of health centers. They will serve as a member of the Executive Team, participating in network-wide strategy development, planning, and decision-making. In conjunction with the ED and DOO, the DFO provides strategic and operational leadership. The DFO provides direction in the development and implementation of the financial management, budgeting, accounting and revenue cycle functions of the client, develops and executes both short and long-term financial management plans/strategies which will enable the client to maximize the potential of its financial resources to meet changes in healthcare economics and achieve organizational objectives and ensure fiscal responsibility. The DFO ensures full compliance with all Federal, State and Local legislation relative to finance and billing functions of FQHC service delivery and GAAP reporting. The DFO works in collaboration with the Revenue Cycle Manager (RCM), the Budget Director (BD) and all levels of the organization to improve financial quality, define annual financial quality goals, adopt key performance indicators, set benchmarks and in collaboration with the RCM/BD make strategic recommendations to direct and lead fiscal and revenue functions.
Team members are expected to uphold the health center mission by assuring that patients receive health care that is competent, caring, and meets with a high degree of satisfaction. In addition, staff must support the clients commitment to the creation of a trauma-informed system of care that continually recognizes and responds to the impact of traumatic stress on all those who have contact with the organization, including children, adults, families, caregivers, and staff.
Essential Duties and Functions
- In collaboration with the ED and DOO ensures compliance with Federal/HRSA, State, Local, HRSA and other grant requirements relative to third party billing, collections and program funded services
- Maintains current knowledge regarding today's healthcare environment, managed care organizations, behavioral health and, federal health services programs.
- Establishes and maintains accounting/billing policies and procedures in accordance with GAAP and other governmental regulations.
- Monitors, develops, and communicates fiscal policies and procedures including that of the Billing software and GL sub-ledgers.
- Responsible for the production and dissemination of Regular Financial reporting
- Leads Continuous Quality Improvement initiatives, analysis and reporting related to the fiscal operations of the Network.
- Evaluates the financial effectiveness of current operations and planning for the future and long-term investment decisions.
- Leads fiscal management at all levels to understand the capital investment decision process, acquisition of new facilities and equipment (fixed assets), implementation of strategic plans, and individual roles in a the clients financial future.
- Supplies necessary financial data to support the clients network-wide operations.
- Oversees in conjunction with ED, the organization's working capital management including assets such as cash, marketable securities, receivables, and inventories ensuring operational effectiveness to reduce costs.
- Responsible for strategic negotiation of managed care and other contracts.
- Facilitates the obtaining of signatures on all contracts and monitors contracts while monitoring necessary updates needed for managed care organizations and third-party payers
- Assesses and monitors all financial transactions that take place to support the clients business operations and control of financial risks.
- Coordinates all internal and external audit activities.
- Develops and implements departmental objectives, goals, and key performance indicators (KPI's) ensures that these are met within the established timeframes.
- Monitor, assess and minimize the risk for fraud, waste and abuse by routinely examining and reviewing processes for monitoring ongoing Fiscal Operations P&P.
COMMUNICATION AND INTERPERSONAL RELATIONSHIPS
- Collaborates with senior leadership to make financing decisions,
- Communicates to Executive leadership, the clients Board and financial partners the financial health of the Network
- Ensures that financial systems and staff are operating effectively and efficiently. Provides customer-focused fiscal support to the clinical departments.
- Works collaboratively with the clients fiscal departments.
- Ensure that HIPAA policies and procedures are followed at all times.
- Oversees the reporting of visits and maintains visit reporting model ensuring the accuracy and timeliness of reporting.
- Ensures contractual financial obligations to state, federal, and private funders are met, including the generation of UDS and data reports.
- Leads the preparation of the Medicare Cost Report and Medicaid Cost Report, as required.
- Develops and maintain relationships with outside vendors and funders.
- Assumes responsibility for special projects and tasks when required.
- Bachelor's Degree -Major: Accounting or Finance, CPA and/or Master's required
- Five to seven years of fiscal management experience, preferably in Primary medical care
- Experience with health care billing and revenue cycle.
- Five or more years of related work experience in a healthcare organization.
- Possesses an extensive knowledge and understanding of all aspects of finance, healthcare operations, information systems, and management
- Strong financial, analytical, cost control, and critical thinking skills necessary to conceptualize ideas in an unstructured, fast-paced, dynamic, and multifunctional environment requiring creativity, innovation, foresight, and mature judgment.
- Leadership and management skills necessary to work effectively within a system, influence results, motivate individuals and teams, and resolve problems in a diplomatic, professional manner.
- Excellent relationship, oral and written communication, persuasion, negotiation, and presentation skills. The candidate must be able to clearly articulate factual and advisory information to all levels of staff, executives, the boards of directors, and others, and garner related support.
- Computer skills, including proficiency in Microsoft Office. A personal presence that is characterized by a sense of honesty, integrity, and caring with the ability to inspire and motivate others to promote the philosophy, mission, vision, goals, and values of the client.