Chief Financial Officer

    Published
    November 30, 2020
    Location
    Fort Smith, Arkansas
    Job Type
    State
    Arkansas
    Region
    Southeast

    Description

    Our client, a 150+ bed hospital located near Conway, AR and just over an hour from Ft. Smith, AR, has a need for an experienced CFO to join their team. Candidates absolutely MUST have Acute Care For Profit CFO experience to be considered. This is a nice, stable hospital, with a newer CEO that is great to work with. The former CFO retired after being there for 20+ years. They are going through a major renovation project with lots of capital going into it.

    Job Summary

    The Chief Financial Officer provides leadership and direction to all financial departments for the overall fiscal responsibility of the hospital.

    General Responsibilities

    • Administers the general accounting, patient business services, including third party reimbursement, financial, and statistical reporting functions of the hospital in accordance with established policies and accounting procedures.
    • Provides formal or informal direction in data processing, distributed systems, material management and medical records functions.
    • Trains subordinates on the above areas and monitors performance to ensure fiscal responsibilities are fulfilled.
    • Assists the CEO in the development of long and short-range hospital operations plans that may include service demand analyses, resources availability analyses and cost benefit analyses of proposed capital and staff expansions.
    • Develops long and short-range operational and capital budgets, which are supported by the hospitals long and short range plans and objectives.
    • Prepares cash flow analyses and budget variance analyses.
    • Recommends budget modifications as required. Assists managers in the development of departmental budgets.
    • Monitors, interprets and analyzes hospital financial performance in realizing established plans and objectives of the hospital.
    • Identifies and reports undesirable trends and potential business opportunities and makes recommendations for action.
    • Directs the preparation of internal financial reports including work papers for annual financial audit.
    • Assures the timely and accurate preparation of financial reports and assures that the reports reliably reflect the financial position of the hospital.
    • Assumes a lead role in analyzing and exploring means of reducing hospital operating costs and increasing revenues based on knowledge of market trends, financial reports and operating procedures.
    • Responsible for direction and submission on a timely basis all financial data associated reports required by government and other regulated agencies including payroll tax reports, public disclosure reports and third party payor cost reports.

    Job Requirements

    Minimum Qualifications (Experience, Education and Special Certifications…)

    • Bachelor’s Degree in Accounting or Finance and the knowledge of generally accepted accounting principals, and verbal, interpersonal and quantitative skills normally acquired through completion of this degree is required.
    • CPA or Master's Degree strongly preferred.
    • A minimum of 3 years of experience working at the CFO level in an acute-care hospital is required.
    • Minimum of three years of progressive management experience in an investor-owned healthcare organization required.
    • Must be a strong, hands-on and approachable leader who understands the value of being a team-player and have an outgoing and friendly personality.
    • Must understand how to motivate and inspire staff to achieve optimal results, while keeping employee satisfaction high.

    This city is a unique and thriving town located in the heart of the River Valley, surrounded by some of the most beautiful landscapes in the state. The city is close to Arkansas Tech University, local businesses, and expansive industries. This city has just under 30,000 residents. The town, overlooking nearby 34,000-acre Lake Dardanelle and the Arkansas River, is a key city along Scenic Highway 7. Interstate 40 skirts Russellville to the north. Lake Dardanelle is renowned for its bass fishing and a state park has two locations providing everything needed for an enjoyable outing. Nearby Mount Nebo State Park, is a Civilian Conservation Corps-built recreational facility with spectacular views of the River Valley. Arkansas Tech University provides cultural and sporting events throughout the year. The city offers things to do for the whole family. You can take advantage of numerous outdoor recreational activities, including biking trails, hiking trails, golfing, fishing, water-skiing, kayaking, and hang-gliding. There are also several entertainment, shopping, and dining options in the city, as well as museums and other local attractions.

    Nearby Cities:

    Little Rock, AR (79)

    Fayetteville, AR (118)

    Texarkana, AR (178)

    Memphis, TN (205)

     

    Major renovation project turning 80% of the double occupancy rooms into single rooms.  This is a $13M project.  They are making around $200M/mth so net revenue is around $125M.  They want someone from a 70 bed or bigger hospital, with $80-90M in net revenue experience.  There is a good payor mix as they have lots of big corporations in the area and not a lot of competition.

    Salary range is $180-230K with a 30% bonus potential and $52,500 bonus that vests out each year for 4 years.  They will offer relo asst as well.

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