The VICE PRESIDENT FINANCE - is primarily responsible for: Leading the day-to-day financial functions of Health Quest Medical Practice (HQMP) as the senior financial, revenue cycle and accounting executive and functions with the rights and responsibilities typically granted to the VICE PRESIDENT FINANCE of a medical group. In conjunction with the President/Chief Executive Officer, COO, management team and physicians, develops and implements short and long-term strategic plans that cover financial projections, benchmarking and growth to support HQMP philosophy and goals. The VICE PRESIDENT FINANCE performs all functions of the position in accordance with generally accepted accounting principles; including preparation, analysis and interpretation of financial reports, management of integrated accounting systems, cost accounting, budget process, investment, forecasting, and supervision of the daily accounting functions while adhering to corporate responsibility and compliance directives. The VICE PRESIDENT FINANCE is a highly visible position that is always responsible for creating a positive impression with providers, patients and other visitors he/she encounters, both directly and indirectly.
DUTIES AND RESPONSIBILITIES:
Directs, supervises and coordinates overall efforts of finance, accounting, revenue cycle and purchasing through directors, managers, supervisors and staff, including monitoring training and development.
- Acts as a trusted advisor to the President, CMO, COO, Board and other senior management.
- Recommends, develops, implements and updates strategic long-and-short-range financial plans to support HQMP philosophy and goals.
- Provides leadership in developing, planning and implementing HQMP business plans for individual divisions, service lines and practices.
- Maintains the capital structure of the company.
- Plans, develops, organizes, implements, directs and evaluates the organization’s fiscal function and performance.
- Develops overall accounting and financial systems and policies to safeguard assets and ensure the accurate and timely reporting of financial information.
- Designs and directs the preparation of all financial reports, including income statements, balance sheets, tax returns, and reports for management, board, and/or government regulatory agencies as required.
- Oversees the accounting function, budget preparation and audit functions. Meets regularly with department heads to keep informed and to offer direction.
- Prepares and review reports to model and analyze current and potential financial impact on current and future decision making.
- Analyzes HQMP operations to pinpoint opportunities for improving financial performance.
- Establishes and maintains credibility of the finance function by providing timely and accurate analysis of budgets, financial reports and financial trends to assist in the development of solutions to business challenges.
- Develops a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs.
- Develops pro forma process for new HQMP physicians.
- Participates in evaluation of potential new practices, locations, services and geographies for efficiency and profitability.
- Studies long-range economic and demographic trends and project HQMP prospects for future growth and market share, opportunities for acquisitions or expansion into new markets. Estimate requirements for capital, facilities and work force.
- Provide financial advice on any contracts into which the company may enter.
- Organizes and directs all revenue cycle activities from HQMP
- Assures best practice performance of HQMP revenue cycle activities.
- Oversees HQMP physician credentialing
- Oversees HQMP managed care contracting
- Serves as liaison and channel of communication between medical staff, financial and revenue cycle staff, and administrative staff.
- Serves as liaison and channel of communication between the board and its committees, the medical staff and administrative staff.
- Maintains professional affiliations and enhances professional development to keep current in the latest health care trends and developments.
- Maintains strictest confidentiality.
- Maintains an excellent relationship with HQ corporate finance department
- Other duties as assigned.
KNOWLEDGE AND SKILL:
- Principles and practices of revenue cycle, information systems and finance sufficient to direct and oversee medical practice financial operations.
- Purposes, organization and policies of the community’s health systems sufficient to interact with other health care providers.
- Financial policies and procedures of a medical practice sufficient to direct its financial operations.
- Knowledge of the principles and practices of employee development sufficient to ensure organizational productivity.
- Knowledge of computer programs and applications.
- Analyzing situations accurately and taking effective action.
- Establishing and maintaining effective working relationships with employees, policy-making bodies, third-party payers, patients and the public.
- Organizing work, delegating and achieving goals and objectives.
- Exercising judgment and discretion in developing, applying, interpreting and coordinating departmental policies and procedures.
- Strong computer modeling and spreadsheet skills required.
- Work independently as well as be an influential member of a team, exercising a high degree of initiative, judgment, discretion and decision-making to achieve HQMP’s mission.
- Assume responsibility and exercise authority over information systems, revenue cycle and accounting staff.
- Tactfulness, patience and resourcefulness when dealing with staff, management and physicians.
- Ability to read, analyze, and interpret the most complex documents. Ability to respond effectively to the most sensitive inquiries or complaints
- Manage change and direct the problem-solving process.
- Establish and maintain benchmarking standards and process improvement.
- Organize and integrate organizational priorities and deadlines.
- Analyze and prepare comprehensive reports.
- Communicate effectively orally and in writing
- Communicate and collaborate with the board, staff, government officials and the public.