Job Description: Chief Financial Officer (CFO)
Company: Brevard Physician Associates (BPA)
Location: Melbourne, FL
Reports To: Chief Executive Officer (CEO)
Position Summary
Brevard Physician Associates (BPA) is a premier, privately owned multi-specialty physician group providing hospital-based services in Anesthesia, Emergency Medicine, Diagnostic Radiology, and Interventional Radiology throughout Brevard County Florida.
This role requires a seasoned healthcare financial executive with a proven track record of navigating complex revenue cycles, managed care negotiations, and physician-led governance. As an accomplished financial architect, the CFO will skillfully navigate the intricacies of healthcare contracting and partnership nuances, serving as a strategic partner to the CEO and Board of Directors to ensure long-term fiscal health and transparency for our physician-shareholders.
Key Responsibilities (Strategic Oversight)
Financial Strategy & Subsidy Modeling
- Advanced Forecasting: Utilize the financial data provided by the Finance Team to build multi-year growth strategies and capital allocation models.
- Subsidy & Stipend Negotiation: Serve as the lead financial advisor in stipend and subsidy negotiations, ensuring coverage agreements are pro-actively modeled for maximum viability.
- Corporate Development: Identify and model financial support needs and opportunities for service line expansion or joint ventures.
- Capital Allocation: Lead enterprise capital allocation strategy, including evaluation of ROI for growth initiatives, staffing models, technology investments, and service line expansion.
- Investment Discipline: Ensure investment decisions align with long-term physician shareholder value and risk tolerance.
High-Level RCM & Managed Care Strategy
- Contractual Oversight: While the Controller manages the daily billing vendor relationship, the CFO leads the strategy and contract negotiations with those vendors.
- Payer Negotiations: Lead the strategy for Managed Care contracting, leveraging billing trends to secure favorable reimbursement rates and payer mix optimization.
- Regulatory Risk: High-level monitoring of legislative impacts (e.g., No Surprises Act and annual Medicare cuts) on the group's revenue.
Physician Compensation & Equity Governance
- Plan Design: Design and refine specialized physician compensation models to ensure they drive clinical performance while maintaining FMV compliance.
- Shareholder Financials: Oversee the strategic management of partner distributions and equity buy-in/buy-out structures.
Fiduciary Leadership & Benefits Strategy
- Retirement Governance: Act as the primary fiduciary for BPA’s 401(k) Plan, ensuring ERISA compliance and optimal plan design.
- Benefit Sustainability: Collaborate with HR to ensure the overall cost of health and welfare benefits is sustainable and competitive.
- Financial Representative: Act as BPA’s primary financial representative to banks, auditors, legal counsel, benefit advisors, and other external partners.
- Relationship Management: Lead negotiations and relationship management with external financial stakeholders as required.
Executive Team Leadership
- Department Oversight: Provide mentorship and executive guidance to the Controller and the internal accounting/payroll team.
- Board Communication: Serve as the lead financial representative at Board meetings and Finance Committee meetings, translating tactical data into strategic narratives for physician-owners.
Financial Risk & Liquidity Management
- Financial Risk Management: Maintain oversight of BPA’s balance sheet, liquidity position, and reserves to ensure financial resilience under varying subsidy, reimbursement, and staffing scenarios.
- Alternative Financial Modeling: Develop downside, stress‑test, and contingency financial models to support executive and Board decision‑making.
- Compliance Oversight: Ensure strong internal financial controls, audit readiness, and compliance with applicable healthcare, tax, and regulatory requirements.
Financial Insights & Systems Leadership
- Systems Integration: Oversee the integrity, accuracy, and alignment of financial data across accounting, RCM, payroll, and operational systems.
- Financial Tools: Drive the development of financial dashboards, KPIs, and forecasting tools that support timely, data-driven executive and physician-owner decisions.
- Financial Systems Oversight: Lead selection, implementation, and optimization of enterprise financial systems as needed.
Qualifications
- Education: MBA/MHA in Finance or Accounting required; active CPA license highly desirable.
- Experience: 12+ years of progressive financial leadership, specifically within a physician-owned group, or hospital-based medical group.
- Specialized Expertise: Mastery of healthcare subsidy modeling, managed care negotiation, and partnership-style (PLLC) financial structures.
- Technical Proficiency: Experience with enterprise-level financial platforms and HRIS/Payroll systems (e.g., UKG Pro).
