Description
Penn Medicine is dedicated to our tripartite mission of providing the highest level of care to patients, conducting innovative research, and educating future leaders in the field of medicine. Working for this leading academic medical center means collaboration with top clinical, technical and business professionals across all disciplines.
Today at Penn Medicine, someone will make a breakthrough. Someone will heal a heart, deliver hopeful news, and give comfort and reassurance. Our employees shape our future each day. Are you living your life's work?
Summary:
-
The Chief Financial Officer is responsible for executive oversight and financial management of all Penn Medicine Medical Group (PMMG) activities in coordination with Penn Medicine financial leadership. PMMG is defined as any physician organization having a legal relationship to the Heath System, whether total control, sole member status, a partnership interest, etc. The PMMG Chief Financial Officer will report to the Chief Physician Executive for the Penn Medicine Medical Group and be a member of the core business functions, which include Finance, Human Resources, Patient Access, Practice Integration and Alignment. The CFO will oversee the delivery and management of the finance and accounting functions in PM providing guidance to physicians, advanced practice providers, and staff.
Responsibilities:
-
Maintains a complete accounting and financial control program to ensure adequate protection of all Penn Medicine Medical Group assets in conjunction with Penn Medicine policies.
Ensures the integrity of all financial statements by ensuring accurate reporting of financial results of operations on a timely and meaningful basis for all entities.
Partners with hospital and clinical department leadership in analyzing performance and developing short- and long-range financial plans to meet financial and other performance targets.
Leads development of strategic financial plans, program-specific business plans and annual operating and capital budgets.
Oversees PMMG revenue cycle and business process.
Partners with UPHS & PMMG leadership in developing performance targets, reporting variances, and creating remediation plans, leveraging performance reporting systems and continuous improvement strategies.
Provides leadership in implementing fiscal change management strategy within PMMG to ensure alignment with Penn Medicine strategic plan.
Oversees the administration of UPHS’ funds flow process in partnership with Health System and hospital leadership.
Serves as key advisor to PMMG Physician Executive for financial strategy related to both the current year and multi-year planning.
Advises the Chief Physician Executive of PMMG and Board of Directors and Corporate leadership with respect to overall financial policies, procedures, and regulatory requirements impacting all aspects of PMMG financial management.
Acts as Board Liaison to Finance Committee and attends meeting of the Board of Directors, Executive Committee and other special committees as requested by the Chief Physician Executive.
In partnership with Penn Medicine Finance leadership, ensures compliance with all federal, state and local regulatory standards as well as GAAP principles
builds staff alignment and commitment through championing of Penn Medicine mission, articulation of performance priorities and targets and communication of information up, across and down the organization
leads the identification and development of organizational, managerial, professional, service and specialized skills and competencies necessary to achieve Penn Medicine goals and strategies.
Understands the Needs and Expectations of Patients, Referring Physicians, Faculty and Staff across the Health System. Develops relationship with School of Medicine leadership balancing the needs of PMMG within guidelines of PSOM where applicable.
Secondary Functions: The following duties are considered secondary to the primary duties listed above:
Develops and maintains lines of communication with other health systems, fiscal intermediaries, legislators, independent CPA's, State and National associations, banks and brokerage firms to keep abreast of current industry and overall economic trends and to make recommendations on courses of action to the Chief Executive Officer and Board of Directors for each entity.
Represents PMMG in the community, promoting services and capabilities by developing and maintaining active participation in civic, social, and other community activities in such a manner as to properly reflect PMMG.
Credentials:
-
Certified Public Accountant (Required)
Education or Equivalent Experience:
-
Master of Arts or Science (Required)
-
Education Specialization: Accounting, Finance, Business Administration or related disciplineEquivalent Experience:•And 10+ years Financial management and leadership for a health system or related experience
We believe that the best care for our patients starts with the best care for our employees. Our employee benefits programs help our employees get healthy and stay healthy. We offer a comprehensive compensation and benefits program that includes one of the finest prepaid tuition assistance programs in the region. Penn Medicine employees are actively engaged and committed to our mission. Together we will continue to make medical advances that help people live longer, healthier lives.
Live Your Life's Work
We are an Equal Opportunity and Affirmative Action employer. Candidates are considered for employment without regard to race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability, marital status, familial status, genetic information, domestic or sexual violence victim status, citizenship status, military status, status as a protected veteran or any other status protected by applicable law.
