Ensures the financial viability of the hospital by establishing and monitoring financial plans and budgets. Manages the financial affairs in accordance with business unit goals, sound business practice, and hospital policies, and in compliance with various government regulatory requirements. Plans, organizes, and directs the fiscal services department including the development, interpretation, coordination, and administration of Steward's policies on finance, accounting, insurance, financial/accounting systems, internal controls, and auditing.
KEY RESPONSIBILITIES:
- Establishes and monitors the annual operating budget in accordance with sound budgeting principles and corporate guidelines. Interfaces with Human Resources and other departments in preparation of manpower plans, salary and benefit proposals.
- Supervises and develops managers in areas such as patient accounting, data processing, credit/collection, general accounting, purchasing, PBX, and admitting. Establishes performance plans and objectives and evaluates results with subordinates at the end of the performance period. Provides positive direction and open lines of communication with and between subordinates.
- Directs subordinates in developing and implementing systems and procedures for effective and accurate record keeping.
- Evaluates Steward's overall financial position and prepares periodic financial and operating reports.
- Coordinates with other senior members of management in developing major financial plans including capital expenditure programs.
- Reviews and evaluates the effectiveness of all financial and accounting systems at the hospital. Directs the development and implementation of new systems, policies, and procedures as required.
- Assists in the development of new business by analyzing the feasibility of new ventures including managed care contracts and advises management of the financial prospects.
- Attends promptly to the administrative details of the position including the signing of documents, preparation of reports, completion of performance appraisals, and other employee-related actions.
- Ensures that the financial operation of the hospital is carried out in an ethical, responsible manner.
- Analyzes daily operating results to ensure that revenues, expenses, and labor are within budgeted objectives, advises department heads and administration of needed changes, improvements, etc.
- Establishes and maintains sound financial controls and record keeping with as few employees as possible. Approves financial expenditures up to the level established by the hospital President.
- Keeps current of government regulatory requirements and the rapidly changing reimbursement environment in order to develop and implement changes to policies and procedures as needed.
- Manages financial resources. Through subordinates, supervises and coordinates the functions of reimbursement, budget, patient accounting, and general accounting, which include general ledger accounting, accounts payable, and cashiering.
- Participates in the development of department objectives and organization structure. Organizes work of the department, allocates and schedules work to be performed, and recommends positions and staffing required. Participates in the development of the department operating budget and ensures that operations are maintained within allocated funds. Establishes and maintains appropriate records and reports.
- Develops and implements policies and procedures for the department and ensures compliance. Provides for organization and maintenance of an effective system of accounting and cost determination. Continually reviews and modifies cost systems and data collection to assure maximum cost reimbursement for patient services. Prepares periodic reports outlining the hospital's financial position in all areas of assets, liabilities, income, and expense based on past, present, and planned future operations. Prepares and effects timely filing of federal, state, third party, and other financial reports as required. Stays current with national and local economic conditions and serves as an advisor to the board director on their impact. Recommends budget planning guidelines to the board director, coordinates preparation of current operating and capital budgets with the Administrator for Steward. In conjunction with the Administrator of Steward-wide budgets, directs for review and board approval. Provides for current and adequate insurance protection to protect the hospital from liability and other losses.
- Supervises investigation, analysis, and presents recommendations with respect to costs, charges, rates, etc., to permit income to support Steward's activities. Prepares revisions to the rate structure. Participates in the cost impact of personnel policies and programs such as employee benefit additions or changes, general salary increases, etc. Performs cost studies involving third parties such as Blue Cross, and local, state, and federal agencies. Participates in cost studies with Steward auditing firm representatives. Audits the financial basis for any Steward activity. Participates in activities with third parties to expedite payment of long overdue accounts.
- Directs and supervises department staff through subordinate managers, including review/approval of recommended personnel actions.
- Implements and maintains established policies and procedures, objectives, quality assurance, safety, environmental, and infection control.
- Directs (through subordinate supervisors) care and maintenance of department facilities, equipment, and supplies.
- Attends required meetings and participates on committees as required/requested.
- Participates in professional activities; maintains professional affiliations to keep abreast of current trends/changes and legislation in the field.
- Performs other duties as required/directed.
EDUCATION/EXPERIENCE/LICENSURE/TECHNICAL/OTHER:
- Education: BS Degree in finance, accounting, or equivalent. CPA and/or MBA is preferred.
- Experience (Type & Length): Five or more years of progressively responsible finance experience. Excellent management and communication skills.
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