JOB SUMMARY: The Chief Financial Officer (CFO) serves as a key member of the executive leadership team, responsible for overseeing the financial operations and strategy of the healthcare system. The CFO ensures financial sustainability through effective planning, control, and reporting systems and supports strategic decision-making. This position is critical to maintaining regulatory compliance, optimizing reimbursement, and enhancing operational performance. A strong understanding of Critical Access Hospital (CAH) regulations, the Quality Incentive Payment Program (QIPP), and Emergency Medical Services (EMS) reimbursement structures is preferred. This position reports directly to the Chief Executive Officer (CEO). OSHA Bloodborne Pathogens Class III.
JOB QUALIFICATIONS:
A. Education: Bachelor’s degree in Accounting, Finance, or related field required; Master’s degree or CPA preferred.
B. Personal job-related skills: Thorough knowledge of accounting, finance, reimbursement, budgeting, credit, collection, and revenue cycle as relates to healthcare required.
C. Licensure, registry or certification: CPA preferred; CHFP, FHFMA, or similar healthcare financial certification a plus.
D. Experience:
1. Prior Work Experience: Minimum 3 years of healthcare financial management experience, with preference for 5+ years in a hospital setting. Experience in CAH environments, QIPP, and EMS billing is highly desirable.
2. Technical Training: Proficiency in accounting systems, Excel, data analytics tools, and revenue cycle management software.
E. Physical and Mental Requirements: Duties of the position require intermittent walking, sitting and standing. Some bending, stooping and reaching is required with the lifting of items up to a weight of 10 pounds.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Financial Management & Reporting
- Directs all fiscal functions including accounting, budgeting, financial analysis, and reporting.
- Ensures compliance with GAAP, CMS regulations, and state/federal reimbursement requirements.
- Prepares and presents monthly and annual financial statements, operational reports, and strategic projections.
- Leads the annual budget process and long-range financial planning.
- Revenue Cycle Oversight
a. Supervises billing, collections, accounts receivable, and payor contracting.
b. Works closely with Billing, PFS, and HIM to ensure accurate and timely claims processing and reimbursement.
c. Ensures optimal performance in QIPP and other value-based payment programs.
d. Oversees EMS financial operations, including charge capture and cost recovery mechanisms.
- Strategic Financial Leadership
a. Advises the CEO and Board on financial planning, investments, risk management, and capital allocation.
b. Supports organizational decision-making through modeling, forecasting, and benchmarking.
c. Plays a lead role in cost report preparation and audit processes.
d. Collaborates with clinical and operational leaders to identify efficiency opportunities.
- Regulatory & Compliance
a. Ensures compliance with Medicare/Medicaid regulations, IRS reporting, and state healthcare financial statutes.
b. Maintains readiness for external audits, surveys, and certifications related to finance.
- Team & Operational Leadership
a. Supervises financial, business office, accounting, materials management, and payroll staff.
b. Develops talent through coaching, performance reviews, and ongoing training.
c. Maintains department budget and staffing in alignment with organizational goals.
PREFERRED COMPETENCIES:
- In-depth knowledge of CAH reimbursement methodologies and cost-based principles.
- Experience with Texas Medicaid QIPP program administration and reporting.
- Familiarity with EMS funding streams, including Medicaid supplemental payments and 1115 waivers.
- Strong analytical, interpersonal, and communication skills.
- Commitment to ethical standards, integrity, and customer service.
OTHER SIGNIFICANT REQUIREMENTS:
- Adheres to HIPAA regulations and confidentiality standards.
- Supports and models the organization’s mission, values, and behavioral standards.
- Performs other duties as assigned.