Description
General Summary of Position
Job Summary
The Chief Financial Officer (CFO) serves as the primary financial officer for the MedStar Georgetown University Hospital. Major responsibilities include developing and maintaining a strategic financial plan and annual operating and capital budgets; financial analysis of new programs, review of all financial reporting and analyses reports; decision support, review of patient revenue activities and oversight of the financial and government reporting compliance. Responsible for directing the fiscal functions of the MedStar Georgetown University Hospital in accordance with financial management techniques and practices appropriate within the healthcare industry in partnership with MedStar's Professional Support Services Center.
Primary Duties
1. Develops and contributes to the achievement of established department goals and objectives and adheres to department policies, procedures, quality standards and safety standards. Ensures compliance with hospital/facility policies and procedures and governmental/accreditation regulations.
2. Participates in multidisciplinary quality and service improvement teams as appropriate. Participates in meetings, serves on committees and represents the department and hospital/facility in community outreach efforts as appropriate.
3. Functions as an integral part of the overall MedStar Health finance team.
4. Works closely with MGUH leadership and the health system finance team to promote good stewardship of MGUH resources.
5. Working through the management team and physicians, serve as a resource to help enhance revenues; reduce costs; achieve effective utilization and quality goals and objectives; and analyze and utilize information to develop and support management decisions.
6. Directs a comprehensive budget process for MGUH including prioritized project submissions for the capital budget.
7. Performs monthly financial review and analysis of operating results for MGUH. In conjunction with MedStar Professional Support Services Center (PSSC) coordinates the preparation of monthly financial analyses reports and variance analyses.
8. Directs the preparation of financial projections for new projects, major capital expenditures or proposed changes in operations.
9. Provides leadership in the development and the continuous evaluation of short and long-term strategic financial objectives for both organizations. Develops, implements, and periodically updates a strategic financial plan/long range financial forecast, in collaboration with System finance team.
10. Interprets current financial trends and respond with appropriate action to improve financial results for both enterprises. Providing timely and accurate analysis of financial data, reports, and trends on a routine basis and as requested by management and others.
11. Supervises and provides leadership and mentoring to fiscal and other staff; develops and establishes policies and procedures in alignment with system policies and procedures; establishes goals for professional development of staff; participates in succession planning for fiscal staff. Maintains customer service standards consistent with MedStar Health customer service standards,
12. Assists and coordinates revenue cycle initiatives in collaboration with PSSC.
13. Serves as the liaison with the MedStar parent corporation, the PSSC and its subsidiaries (hospital and other MedStar entities) on financial related topics and issues.
14. Consistently demonstrates support for compliance in the performance of job duties and responsibilities by (a) developing and maintaining knowledge of, and performing job functions in compliance with, rules, regulations, policies, and statutes that affect his/her job; (b) maintaining knowledge of and performing job functions in compliance with MedStar Health, MGUH policies and procedures; and (c) reporting compliance concerns in an appropriate and timely manner.
15. Develops, in conjunction with PSSC, and manages MGUH key financial performance indicators and works with entity management in improving financial results using such indicators.
16. Collaborate to integrate MedStar System level business transformation initiatives into MGUH operations. Identify and advance entity specific business transformation initiatives.
17. Represents MGUH with external stakeholders as necessary including DC Hospital Association and the DC Department of Healthcare Finance.
Minimum Qualifications
Bachelor's degree required, preferably in Accounting or Finance, Master's degree preferred. A minimum of 10 years progressive financial career track record in complex integrated healthcare system is required along with demonstrated experience in a key financial leadership position.
This position has a hiring range of $301,600 - $408,000
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