Company Description Serenity Home Healthcare Services LLC is a rapidly growing, multi-state Home Care Services company with more than $100 million in annual revenue. Serenity is dedicated to providing compassionate, high-quality care to individuals in their homes, supporting recovery from acute illnesses and the management of chronic conditions. The organization focuses on helping clients achieve the highest possible level of function and independence in a familiar environment. Services are delivered by a team of licensed professionals and trained aides, ensuring that each client’s medical and personal needs are addressed.
Role Description:- The company is seeking an experienced and highly strategic Chief Financial Officer (CFO) to lead its financial organization and serve as a trusted advisor and key strategic partner to the owners, Chief Executive Officer, and executive leadership team, with direct input on growth, compliance, and operational decisions. The Chief Financial Officer (CFO) is a full-time, on-site role based in Niles, IL. The CFO will have overall responsibility for the company's financial strategy, full-cycle accounting, monthly/quarterly/annual financial reporting, budgeting and forecasting, cash management, financial controls, tax coordination, banking relationships, payer economics, revenue cycle management, and overall financial performance across the multi-state organization.
The CFO will lead a finance and accounting team of approximately five professionals, including the Controller, while partnering closely with operations to improve profitability, cash flow, labor productivity, and overall financial performance.
In addition, the CFO will oversee the Family Office supporting the company's owners, coordinating financial and administrative matters and working closely with the owners' external tax, legal, investment, banking, and other professional advisors.
This is a highly trusted leadership position requiring strong financial expertise, healthcare industry knowledge, exceptional judgment, discretion, integrity, and the ability to operate effectively in a high-growth, entrepreneurial environment
Qualifications
Required
- Bachelor’s degree in Accounting, Finance, Business, or related field.
- 10+ years of progressive finance and accounting experience.
- Experience as a CFO, VP of Finance, Controller, or equivalent senior financial leadership role.
- Experience managing a finance/accounting organization.
- Prior supervisory or management experience with responsibility for accounting, payroll, billing, or revenue-cycle teams strongly preferred.
- Experience with a $100M+ healthcare services, home care, home health, hospice, behavioral health, or similar services organization strongly preferred.
- Strong understanding of financial accounting, budgeting, forecasting, cash management, and financial controls.
- Demonstrated experience managing complex labor-intensive businesses.
- Strong analytical capabilities, advanced Excel modeling skills, and the ability to translate complex financial information into clear recommendations.
- Experience working directly with business owners and executive leadership.
- Exceptional communication, judgment, integrity, and discretion.
- Proven ability to thrive in a fast-paced, rapidly growing, multi-state environment.
Preferred
- CPA, CMA, and/or MBA strongly preferred.
- Home Health and Home Care experience strongly preferred; experience in Hospice, Personal Care, Behavioral Health, or another healthcare services organization is also valuable.
- Experience with Medicare, Medicaid, managed care, commercial payers, and/or private-pay models.
- Experience with healthcare revenue cycle and reimbursement.
- Deep experience with multi-state and multi-entity enterprises; Series LLC experience strongly preferred.
- Experience with mergers and acquisitions.
- Experience integrating acquired healthcare businesses.
- Experience working with a family office or private office.
- Experience with private-equity-backed or privately held companies.
- Current hands-on proficiency with Sage Intacct strongly preferred, including experience with system administration, reporting, controls, integrations, or upgrades; experience with payroll, billing, or healthcare management systems is also preferred.
Ideal Candidate Profile
The ideal candidate will be more than an accountant. This individual should be a strategic business leader who understands how the financial performance of a labor-intensive healthcare company is created.
The successful candidate will be:
- Strategic – Able to help ownership make long-term business and investment decisions.
- Healthcare-savvy – Understands reimbursement, payer economics, revenue cycle, compliance, and healthcare labor economics.
- Commercially minded – Understands how pricing, utilization, staffing, reimbursement, and operational execution affect EBITDA.
- Analytical – Able to identify trends and translate financial data into actionable recommendations.
- Hands-on – Willing and able to get into the details when necessary.
- Entrepreneurial – Comfortable in an owner-led, rapidly growing environment.
- Discreet and trustworthy – Able to manage highly confidential company and personal financial information.
- Operationally oriented – Works effectively with field and operational leaders.
- Decisive – Provides clear recommendations rather than simply presenting numbers.
- Growth-oriented – Capable of building infrastructure that can support significant future growth.
Key Performance Indicators
The CFO will be accountable for establishing and improving financial performance across the organization, including:
- Revenue growth
- EBITDA and EBITDA margin
- Gross margin
- Cash flow
- Days sales outstanding
- Accounts receivable aging
- Claims/denial performance
- Revenue-cycle efficiency
- Revenue per labor hour
- Caregiver labor cost as a percentage of revenue
- Overtime percentage
- Branch/location profitability
- Payer profitability
- Budget-to-actual performance
- Forecast accuracy
- Monthly close timeline
- Acquisition performance
- Working capital efficiency
First-Year Priorities
During the first 12 months, the successful CFO should:
- Establish a high-performing finance and accounting organization.
- Build a robust monthly financial reporting package for ownership and management.
- Improve the accuracy and timeliness of the monthly close.
- Establish a comprehensive budgeting and rolling forecasting process.
- Develop meaningful branch, payer, labor, and operational profitability reporting.
- Improve cash-flow forecasting and working-capital management.
- Establish clear revenue-cycle and accounts-receivable KPIs.
- Develop labor productivity and caregiver economics reporting.
- Strengthen internal controls and financial processes.
- Evaluate and improve financial systems and reporting infrastructure.
- Establish effective relationships with banks, auditors, tax advisors, attorneys, and other professional advisors.
- Build a professional and scalable Family Office function for the owners.
- Provide ownership with greater visibility into company performance, risks, opportunities, and capital requirements.
- Become a trusted strategic advisor to ownership and the executive leadership team.
Benefits
Generous base salary plus annual performance bonus.
Comprehensive benefits package.
Compensation
Competitive base salary, annual incentive compensation, and, where appropriate, long-term incentive or equity participation commensurate with the candidate's experience and the scope of the position.
The compensation package will reflect the significant responsibility associated with serving as CFO of a $100M+ healthcare services organization while also overseeing the owners' Family Office.
