Job Title: Chief Financial Officer (CFO)
Company: Orthopaedic & Spine Center of the Rockies (OCR)
Location: Fort Collins, Loveland, and Longmont, CO
Type: Full-time, permanent position
Due to a planned out of State relocation of our current Chief Financial Officer (CFO), the Orthopaedic & Spine Center of the Rockies is recruiting for a new CFO.
Under direction of the Chief Executive Officer (CEO), the CFO is responsible for the overall financial success of a large 44-physician, multi-site, vertically integrated orthopedic medical group with approximately 575 employees. OCR was founded in 1969, is physician owned, and includes medical clinics, therapy clinics, x-ray services, ambulatory surgery and recovery centers, and MRI facilities across North Denver and the Northern Colorado Front Range. OCR provides care to patients from Colorado, Wyoming, Nebraska, and numerous other states.
The CFO is a member of the senior leadership team and is responsible for implementing strategic, operational and financial strategies to grow revenues, contain costs, and maintain the highest level of clinical quality care. This role will provide organizational oversight of all financial planning, operating strategies and financial outcomes of OCR, and numerous associated companies, in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board, other regulatory and advisory organizations and in accordance with financial management techniques, and practices appropriate with the physician-owned practice industry.
The CFO will grow a culture of financial awareness and accountability while ensuring the efficient utilization of resources and appropriate decision making for strategic growth and technological investment. Plans, organizes and directs all aspects of respective departments including the development, administration of policies on finance, accounting, corporate insurance policies, internal controls, budget, auditing, accounts payable, purchasing, payroll, benefits, and claims processing. Prepares accurate and timely monthly financial statements and maintenance of the general ledger. Oversees and supervises the leadership team members over Revenue Cycle, Payer Contracting and Relations, Accounting, Payroll, Accounts Payable, Human Resources, and Centralized Purchasing functions.
Works closely with CEO and Physicians for OCR and all related companies, currently including multiple LLCs.
Masters degree (MA) or equivalent; or ten years related experience and/or training; or the equivalent combination of education and experience. CPA strongly preferred.
An experienced leader and financial executive with corporate experience, preferably in the health care field. An energetic, forward-thinking and creative individual with high ethical standards and an appropriate professional image. A strategic visionary with sound technical skills, analytical ability, good judgment and operational focus. A well-organized and self-directed individual who is “politically savvy” and a team player. An intelligent and articulate individual who can relate to people at all levels of an organization and who possesses excellent communication skills. A good educator who is trustworthy and willing to share information and to serve as a mentor. An individual who is experienced in payer contracting, vendor contracting, and supply chain management. A decisive individual who possesses a “big picture” perspective and is well versed in work flows and systems that cross many multi-disciplinary financial and clinical lines.
Preferred achievements include ability to handle stressful situations; demonstrated ability in organizational and communication skills.
- · Oversees and directs the organizations financial activities including financial planning, budgeting, projections and forecast and accounting functions as well as its relationship with lending institutions, payers and vendors who have a financial relationship with the practice.
- · Presents closing processes, financial statements and compensation model calculations to CEO and multiple entity Boards, and prepares forecast and projections as part of feasibility studies for new service lines, facilities, joint ventures, legal entities, or other practice initiatives.
- · Participates in the development of the organizations strategic plan, to include continuous evaluation of short and long-term strategic financial objectives. This includes the development and review of all financial functions, systems and procedures for all legal entities.
- · Provides counsel to the CEO and Boards on significant matters affecting practice finances, operations and policies by providing recommendations to strategically enhance financial performance and business opportunities.
- · Monitors financial performance by measuring and analyzing results, initiating corrective actions, and minimizing the impact of variance; identifying opportunities for improvement, cost reduction, systems enhancements and accumulating capital to fund expansions.
- · Directs and coordinates contracting, reimbursement, patient accounting and general accounting including general ledger accounting, accounts payable, payroll, claims processing and cash handling and cash management.
- · Meets with Directors on a regular basis to present and review financial statements and to provide expert advice related to their area(s) of responsibility. Acts as a teacher, coach, mentor to Directors with the goal of overall financial performance improvement for all legal entities.
- · Develops clear departmental policies, objectives and strategic priorities and ensures compliance for each management position reporting to CFO. Provides ongoing performance coaching and evaluations with direct reports to encourage growth of their positions and responsibilities and to promote stability and longevity of management staff.
- · Performs other duties as assigned.
KNOWLEDGE, SKILLS AND ABILITIES
1. Knowledge of the business structure and accounting practices of private and group medical practices.
2. Knowledge of the principals of financial management in order to direct professional staff and coordinate all aspects of the scope of this position.
3. Knowledge of the organizational strategic business objectives and employee performance objectives.
4. Knowledge of governmental and health care regulations and reporting requirements.
5. Knowledge of entity financial and budgetary practices.
6. Successful development of annual budgets, provides financial data analysis and patterns, and prepares financial statements.
7. Experience in an aggressive managed care markets and in the effective organization and management of a specialty practice.
8. Experience managing and maximizing the profitability of a medical practice.
9. Comfortable performing quantitative and analytical duties.
10. Skill in exercising a high degree of initiative, judgment, discretion, and decision making to achieve organizational objectives.
11. Skill in evaluating organizational operations as they relate to policies, goals and objectives, cost, and rate levels.
12. Skill in establishing and maintaining the effective working relationships with physicians, CEO, co-workers, patients, and the public.
13. Skill in identifying and resolving problems.
14. Skill in active listening in all situations.
15. Ability to interact well with clinical and non-clinical staff.
16. Ability to create a clinic atmosphere that encourages motivation, innovation, and a high performance.
17. Ability to maintain strict confidentiality.
18. Ability to delegate responsibility and authority to staff.
19. Ability to consistent messages and to communicate clearly.
20. Ability to handle many projects at one time.
21. Ability to perform well in stressful situations.
Orthopaedic & Spine Center of the Rockies (OCR) is an Equal Opportunity Employer and prohibits discrimination or harassment of any kind. OCR is committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment. All employment decisions are based on business needs, job requirements and individual experience and qualifications, without regard to a person’s race, color, age, sex, gender identity, gender expression, marital status, sexual orientation, religion, creed, national origin, the presence of any physical or mental disability, or status as a disabled veteran, recently separated veteran, other protected veteran, or Armed Forces service medal veteran, or any other protected status.