We are a leading innovator in the medical diagnostics testing industry, dedicated to advancing healthcare through cutting-edge diagnostic solutions. Our mission is to deliver accurate, timely, and accessible testing services to improve patient outcomes. We are seeking a dynamic and experienced Chief Financial Officer (CFO) to join our executive team and drive financial strategy in this fast-paced, high-growth sector.
Job Summary:
The Chief Financial Officer (CFO) will be responsible for overseeing all financial operations of the company, with a specialized focus on the medical diagnostics testing industry. The CFO will provide strategic financial leadership, ensure fiscal responsibility, and support the company’s growth objectives. This role requires deep expertise in financial management, regulatory compliance, and operational efficiency within the healthcare and diagnostics sector.
Key Responsibilities
- Strategic Financial Planning: Develop and implement financial strategies aligned with the company’s goals, focusing on revenue growth, cost management, and profitability in the medical diagnostics market.
- Financial Oversight: Manage budgeting, forecasting, cash flow, and financial reporting, ensuring accuracy and compliance with GAAP and industry-specific regulations.
- Revenue Cycle Management: Oversee billing, reimbursement, and collections processes, optimizing revenue streams from diagnostic testing services, including partnerships with healthcare providers and insurers.
- Regulatory Compliance: Ensure compliance with healthcare financial regulations, including HIPAA, CMS, and other relevant standards, while managing audits and reporting requirements.
- Capital Management: Lead fundraising efforts, manage investor relations, and oversee capital allocation for R&D, equipment acquisition, and expansion of testing facilities.
- Cost Control: Optimize cost structures related to laboratory operations, supply chain, and diagnostic equipment, balancing quality and efficiency.
- Risk Management: Identify and mitigate financial risks, including those related to reimbursement policies, market competition, and regulatory changes in the diagnostics industry.
- Team Leadership: Build and lead a high-performing finance team, fostering a culture of accountability, innovation, and collaboration.
- Stakeholder Engagement: Collaborate with the CEO, board of directors, and other executives to provide financial insights and drive strategic decision-making.
- Technology Integration: Leverage financial and operational data analytics to enhance decision-making, utilizing industry-specific tools for laboratory and diagnostics management.
Qualifications:
- Education: Bachelor’s degree in Finance, Accounting, Business Administration, or a related field; MBA or CPA strongly preferred.
- Experience:
- Minimum of 10 years of progressive financial leadership experience, with at least 5 years in a senior role (CFO or equivalent).
- Proven expertise in the medical diagnostics, healthcare, or biotechnology sectors, with a strong understanding of laboratory operations and reimbursement models.
- Experience with high-growth organizations, including startups or scale-ups, is highly desirable.
- Skills:
- Deep knowledge of healthcare financial regulations, including Medicare/Medicaid reimbursement and payer contract negotiations.
- Strong analytical and strategic thinking skills, with the ability to translate complex financial data into actionable insights.
- Proficiency in financial software and ERP systems; familiarity with diagnostics-specific platforms is a plus.
- Exceptional leadership, communication, and interpersonal skills to engage with diverse stakeholders.
- Ability to thrive in a fast-paced, dynamic environment with a focus on innovation and scalability.
- Certifications: CPA, CFA, or other relevant certifications are a plus.
Preferred Attributes:
- Experience navigating the financial complexities of medical diagnostics, including CLIA certification, FDA regulations, and payer reimbursement challenges.
- Proven track record of securing funding or managing mergers and acquisitions in the healthcare or diagnostics space.
- Strong network within the healthcare industry, including relationships with payers, regulators, or industry associations.
Ascendo is a certified minority owned staffing firm, we welcome and celebrate diversity. Ascendo is an Equal Opportunity Employer and does not discriminate on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, retaliation, parental status, military service or any non-merit factor.
