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Kodiak Community Health Center (KCHC) is searching for its next Chief Financial Officer (CFO).
KCHC is a Federally Qualified Health Center (FQHC) that provides comprehensive medical, dental, and behavioral health services to patients in Kodiak, Alaska. We are a private, non-profit organization with our primary health center in Kodiak.
We are committed to providing affordable and accessible health care to all by offering sliding fee scale discounts and discounted pharmacy services. We also address social determinants of health through a variety of programs.
The CFO must have a strong moral compass and serve as a member of the leadership team, responsible for directing the fiscal functions of the corporation in accordance with generally accepted accounting principles and in compliance with Health Resources Services Administration (HRSA) rules for Federally Qualified Health Centers (FQHCs). The CFO manages an annual operating budget of approximately 8M.
They will oversee all finance, accounting, patient billing and collection, forecasting, budgeting, strategic planning, cost analysis, and corporate insurance functions at KCHC. This role directs financial activities and advises and assists the CEO in meeting or exceeding the overall financial and strategic objectives of the organization. This role provides direction to the staff of the finance/accounting/billing and purchasing department in support of the greater organizational goals and vision.
ESSENTIAL JOB FUNCTIONS:
Acts as a member of the KCHC Healthcare Team in the provision of health services to individuals, families, and/or their communities. Works collaboratively with patients and their caregivers-to the extent preferred by each patient-as well as with other members of the KCHC Healthcare Team to accomplish shared goals within and across settings to achieve coordinated, high-quality care. The CFO is responsible for oversight of budgeting, accounting, purchasing, payroll, grants management, audit and internal and external reporting, financial and cost reporting and analysis, revenue management/credentialing, billing functions, compliance with regulatory requirements, asset and inventory control, audits and other financial functions as delegated by the Chief Executive Officer.
1. Participate in strategic planning sessions and provide guidance regarding upcoming federal grant changes.
2. Advises CEO and BOD on potential financial system improvements based on experience with other FQHC organizations.
3. Ensure that KCHC is financially ready for all the changes in finance related to healthcare activities.
4. Provide guidance for cost-benefit analysis of clinic operations.
5. Oversee a timely audit of all systems to meet regulatory requirements.
6. Oversee contractual patient billing and third-party reimbursement.
7. Oversee all financial requirements for engaged grants.
8. Requires compliance with the Health Center's written standards, including its Standards of Conduct and policies and procedures pertaining to all operational aspects, furthermore this position is required to report any suspected instances of noncompliance.
9. Understands and makes adjustments to the general operations of the organization in conjunction with leadership.
10. Participates in developing, planning, and implementing strategies in accordance with the KCHC strategic plan.
11. In coordination with the CEO, enhances operational effectiveness, emphasizing expense analysis while keeping abreast of the importance of quality of care.
12. Explore and integrate new technologies or methodologies that can improve financial reporting, risk management, or investment strategies.
13. Overall supervision of Accounts Receivable, Accounts Payable, Purchasing, Payroll processing, Grant and Revenue Cycle.
14. Creates, updates, and implements financial policies and protocols to remain compliant with Federal and FTCA requirements.
15. Contribute to major decisions by evaluating financial implications and providing insights into potential risks as well as inherent gains
16. Select and engage with outside consultants (auditors, content experts) as necessary.
17. Provide leadership, mentorship, and challenges to the finance team, fostering a culture of continuous improvement and professional development
18. Oversees efforts to maximize third-party reimbursement while minimalizing bad debt
19. Manages third-party insurance payer agreements
20. Evaluates risk related to insurance needs and ensures the ongoing maintenance of all policies including general liability, property, malpractice, and directors and officers.
21. Other duties and financial projects as assigned by the Executive Director/CEO.
ESSENTIAL JOB QUALIFICATIONS:
Education:
Masters' degree in Accounting, Business Administration or Finance strongly preferred. Bachelor's degree in Accounting, Business Administration or Finance required.
Experience:
The CFO will be a seasoned and mature leader with at least five years of broad finance experience, ideally beginning in accounting, followed by experience gathering and evaluating financial information and making actionable recommendations to senior leadership. They will have experience managing the finance function (accounting, budgeting, control, and reporting) within a multi-site-based entity.3-5 years' finance experience in healthcare setting required. At least 2 years FQHC Finance experience strongly preferred.
Licensure/Certification: None
Performance Requirements:
• Proven track record of successful financial management, including experience developing and implementing financial strategies, managing budgets, and overseeing financial reporting and compliance
• Deductive reasoning and problem-solving skills
• Highly Organized and detail-oriented
• Undergraduate degree (B.S.) from an accredited college or university in accounting, finance, or equivalent experience required
• MBA or CPA preferred
• 5 years of healthcare accounting experience, including third party reimbursement; 3 years in an accounting leadership role required
• Experience working in an FQHC preferred
• Experience with automated accounting and billing systems required
Knowledge:
• Knowledge of the principles o financial management sufficient to direct professional staff and coordinate all aspects involved with fiscal requirements.
• Knowledge of clinic financial and budgetary practices to develop annual budget, analyze financial data and patterns, and review financial statements.
• Knowledge of clinic's strategic business objectives and employee performance objectives.
• Knowledge of governmental and health care fiscal regulations and reporting requirements.
• Knowledge of accounting principles, accounting software and systems.
Skills:
• Skill in exercising a high degree of initiative, judgement, discretion, and decision-making to achieve objectives.
• Skill in evaluating operations as they relate to policies, goal and objectives, costs, and rate levels.
• Skill in establishing and maintaining effective working relationships with patients, staff, and the public.
• Skill in identifying, analyzing and resolving accounting and financial problems.
Abilities:
• Ability to analyze financial results from operations; complete financial and cash flow forecasts.
• Ability to negotiate managed care contracts
• Ability to delegate responsibility and authority to staff.
• Ability to effectively present information one-on-one and in small groups to employees, patients and the public.
• Ability to communicate effectively and clearly with people from diverse backgrounds.
• Ability to competently use Microsoft Office, including Word, PowerPoint, Excel, and appropriate practice management software.
Cultural Competence:
• Demonstrates complete understanding and responds effectively with sensitivity to special populations served by KCHC. Special populations include, but are not limited to, those defined by race, ethnicity, language, age, sex, sexual orientation, economic standing, disability status, migrant, homelessness, seasonal workers, and the uninsured.
Attendance:
• Regular attendance and punctuality is expected and required.
English Language:
• Must be able to read, write, and speak English.