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Northern Light Health

VP- Finance

Bangor, ME · On-site

Northern Light Health Department: Member VPs of Finance Position is located: Northern Light Home ... to insure the best use of the organization's resources, in accordance with objectives for growth ...

Northern Light Health

Otolaryngology Physician

Ellsworth, ME · On-site

$314K - $348K/yr

Health insurance, dental, vision for you and your dependents * Professional fees paid: Membership dues/Subscriptions * CME allowance Northern Light Maine Coast Hospital is a full-service hospital in ...

Northern Light Health

Malpractice insurance * Student loan reimbursement * Sign-on and relocation bonuses Why choose Northern Light Mayo Hospital? * Located in the beautiful and welcoming community of Dover-Foxcroft

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VP- Finance

VP- Finance

Northern Light Health

Bangor, ME • On-site

Full-time

Posted 12 days ago

Northern Light Health rating

6.6

Company rating: 6.6 out of 10

Based on 159 frontline employees who took The Breakroom Quiz

556th of 870 rated healthcare providers

Job description

Northern Light Health
Department: Member VPs of Finance
Position is located: Northern Light Home Office, Brewer, ME
Work Type: Full Time
Hours Per Week: 40.00
Work Schedule: 8:00 AM to 5:00 PM
Summary:
This position has a dual reporting relationship as it plays a vital role in ensuring both the financial well-being of Northern Light Medical Group and the alignment of financial strategies, budgetary and capital management with Northern Light Health financial policies and structure, assuring a strong Medical Group and a strong Northern Light Health. Under the shared supervision of the Northern Light Executive Vice President and CFO and the Medical Group Senior Vice President the vice president of finance is responsible for the operating and capital budgeting, business plan development, and management of the revenue cycle performance and implementation of improvement projects.
Responsibilities:
Duties and Responsibilities Under Northern Light Health Executive Vice President & CFO:
  • Administers and establishes policies and procedures for the most effective control and use of physical and financial resources of the Home Office.
  • Assist in creating high-quality, instantaneous client-response capabilities from Home Office.
  • Assure organizational buy in and effective communication relative to the Home Office and Northern Light Health financial planning.
  • Ensure that business and financial strategies are aligned with Northern Light Health system-wide strategic goals and tailored to unique needs of all member organizations listed at the beginning of the document.
  • Assist in finalizing monthly financial statements for all member organizations listed and other periodic financial reports through review and commentary with Northern Light Health central financial services.
  • Develop and manage strategies for managing and optimizing cash flow.
  • Develop and manage a process for reviewing contracts, including physician and compensation contracts and ensuring compliance.
  • Collaborate with Northern Light Health staff on a consistent payer contracting strategy.
  • Assist in establishing an integrated financial plan of operations (short and long term) compatible with the healthcare organization's objectives.
  • Play a key role in Finance Strategic Partner Team, ensuring the best financial strategies for the System.
  • Works as a team member with other system financial leaders on projects significant to the financial health of Northern Light Health.

Duties and Responsibilities Under the Medical Group Senior Vice President:
  • Supports the mission, values and vision of all member organizations and Northern Light Health.
  • Develops plans and initiatives that will support the success of all member organizations and aligns with the mission and structure of Northern Light Health.
  • Partners with others to optimize performance in Business Services and Revenue Cycle.
  • In collaboration with management and staff, develops departmental goals and objectives and establishes and implements policies and procedures. Reviews analyses of activities, costs, operations, and forecast data to determine departmental progress toward stated goals and objectives.
  • Regularly attends Medical Group Council, Vice President of Practice Operations and Medical Group Operations Advisory Team, and other meetings as requested. Is the dyad representative for revenue cycle integrity for the medical group.
  • Confers with the Senior Vice President and other management staff to review achievements and discuss changes in goals and objectives resulting from current status and conditions.
  • Develops budget planning guidelines. Coordinates preparation of an annual operating, capital and cash budget and a three-year capital expenditure plan in conjunction with the management team.
  • Establishes sound business practices. Manages the approved budget, allocates funds within the budget and operates within the budget through a system of fiscal accountability and controls that assures the solvency of the organization.
  • Prepares timely reports outlining the financial position of the organization 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.
  • Assists the Senior Vice President in the development and implementation of an overall strategic plan evaluating financial viability of both existing and new programs and business ventures to insure the best use of the organization's resources, in accordance with objectives for growth and financial stability. Seeks opportunities for diversification and new business development.
  • Represents the organization and Northern Light Health in all interactions with staff, patients/residents and families, Medical Staff, other health care professions, community organizations and the general public.
  • Maintains professional growth and development through seminars, workshops and professional affiliations to keep abreast of latest trends.
  • Participates in community and professional organizations and committees and also in internal committees and task forces.
  • Develops and maintains quality and internal control standards acceptable to Northern Light Health and external auditing firms.
  • Responsible for leading the financial strategy, analysis, and oversight of the organization's population health arrangements, including Accountable Care Organization (ACO) contracts and shared risk models. This role supports organizational success in value-based care by developing budgets, modeling financial performance, and providing strategic insight to leaders across the system.
  • Performs all other duties as assigned or requested.

Other Information:
Shared Duties and Responsibilities:
  1. Establishes a plan of control by means of a formal budget program, providing a standard of measurement so that actual performance can be evaluated regularly.
  2. Leads the process of developing and monitoring financial improvement plans required to achieve the annual budget, business plans and long-range financial plans.
  3. Prepare assumptions and risk measurement for effective business planning and product line reporting.
  4. In concert with Northern Light Health, lead the preparation and management of the annual operating and capital budgets for.
  5. Represent Northern Light Health at outside forums, e.g. MHA.
  6. Assist with developing business plans and financial planning, and other projects as assigned.
  7. Keeps abreast of and ensures that Northern Light Health is aware of regulations, Federal congressional actions, and deliberations, and state and local decisions influencing financial management of the healthcare organization.
  8. Participates in discussions, meetings and planning with Northern Light Health management and Boards on equipment purchases, acquisitions, dispositions, and construction of additional plant and facilities.

Competencies and Skills
  • Adobe Acrobat
  • Applies Business Acumen:Demonstrates knowledge of current and future trends that impact organizational success. Applies proven practices and business theories to get results that meet financial as well as other business goals. Recognizes opportunities for new services and products and acts accordingly, taking measured risks into consideration. Possesses a thorough knowledge of their field and independently carries out their work in accordance with professional standards of the profession.
  • Arithmetic
  • Demonstrates Adaptability: Learns quickly when facing a new problem or unfamiliar task; is flexible in their approach with changing priorities and ambiguity. Manages change effectively and does not give up during adversity. Capable of changing one's behavioral style and/or views in order to attain a goal. Absorbs new information readily and puts it into practice effectively.
  • Effectively Communicates: Listens, speaks and writes appropriately, using clear language. Communication methods are fitting to the message(s), audience, and situation and follow-ups are regular and timely. Shows that important (non-) verbal information is absorbed and understood and asks further questions to clarify when necessary. Expresses ideas and views clearly to others and has ability to adjust use of language to the audiences' level.
  • Types at 60+ words per minute. (only to be used as a condition of employment)
  • Database management application with the ability to create and maintain tables, develop forms and deliver reporting.
  • Spreadsheet application with the ability to use calculations, formulas, graphing tools, pivot tables, and a macro programming.
  • Word processing, spreadsheets, data entry, database experience and other computer related skills.
  • Email application with the ability to manage email as well as calendars, managing tasks and contacts, note taking, journaling, and web browsing.
  • Presentation software with the ability to create presentations with the ability to incorporate animation, audio, video, time delays, as well as designing themes and variants with animations and effects.
  • Word process application with the ability to create and edit documents, format, use tables, apply footnoting, create table of contents and mail merge techniques.
  • Multi-line phone, scanner, photocopier, fax, and internet.
  • Experience with operating a network.
  • OneNote
  • Public Speaking
  • Behaves with Integrity and Builds Trust: Acts consistently in line with the core values, commitments and rules of conduct. Leads by example and tells the truth. Does what they say they will, when and how they say they will, or communicates an alternate plan.
  • Cultivates Respect: Treats others fairly, embraces and values differences, and contributes to a culture of belonging, empowerment, and cooperation.
  • Demonstrates Emotional Intelligence: Exhibits a high level of self-awareness, self-management, other awareness and relationship management. Conducts themselves in an empathic, appropriate way, with a sense of humor and stimulates a collaborative work environment. Is respectful of the attitudes, feelings, or circumstances of others and aware of the influence of their own behavior on them. Is aware of relevant social, political, system, and professional trends and developments and uses this information for the organization's benefit.
  • Develops Self and Others:Takes responsibility for engaging in professional self-development activities and programs. Strives to gain insight into their own values, strengths and weaknesses, interests and ambitions and takes action in order to enhance competencies and skills when possible. As a leader, encourages and guides employees towards growth opportunities to enhance performance and help them reach goals. Reviews and analyzes employees' strengths and weaknesses to distinguish their talents and development needs, and to ensure they are enhanced appropriately.
  • Exercises Sound Judgment & Decision Making: Understands and processes complex information, which allows for appropriate and accountable conclusions. Does not react too quickly or slowly. Balances facts, goals, and potential approaches taking the appropriate criteria into account. Makes active decisions and commits oneself by communicating confidently and respectfully.
  • Fosters Accountability: Creates and participates in a work environment where people hold themselves and others accountable for processes, results and behaviors. Takes appropriate ownership not only of successes but also mistakes and works to correct them in a timely manner. Demonstrates understanding that we all work as a team and the quality and timeliness of work impacts everyone involved.
  • Practices Compassion: Exhibits genuine care for people and is available and ready to help; displays a deep awareness of and strong willingness to relieve the suffering of others.
  • Resolves Conflict: Promptly acts to find alternatives/solutions when team members disagree. Addresses issues in a direct, honest, and appropriate manner. Handles conflicting interests diplomatically and helps to solve them. Transforms difficult situations into teachable moments using respect and accountability .

  • Education: Bachelor's Degree - in financial accounting or business required. Master's Degree - preferred. 10 years minimum experience in similar work or in consulting / accounting practice, particularly in healthcare finance.

Questions? Contact Talent Acquisition:
phone: 207-973-7100
email: talentacquisition@northernlight.org
Brewer, Maine, Corporate Office, Cianchette, Foundation, Finance, Human Resources, Legal Services

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