Chief Financial Officer (CFO)
At a glance
C-Suite Finance Leadership role at ibnjjb.fa.ocs.oraclecloud.com. Holyoke · full-time · $125,000–$185,000 base.
financeroles summary, based on the employer's posting.
What you'll do
- Run hospital finance across revenue cycle, accounting, information systems and reporting, with controls to protect assets
- Oversee billing, collections and denials, keeping patient receivables at appropriate levels and supporting cash flow
- Prepare operating and capital budgets, track variances against targets and develop corrective plans with the CEO
- Deliver monthly statements, operating reviews and scheduled financial metrics, presenting reports with the CEO
- Coordinate month-end close, account reconciliations and annual audit preparation with the corporate finance team
What you bring
- A bachelor's degree in finance, accounting or a related field is required
- You have experience overseeing healthcare financial operations and controls, plus payroll experience
- You can use Microsoft Office and have worked at a hospital computer workstation
Who this fits
This is an onsite, C-suite finance leadership role in Holyoke. You’ll supervise business-office staff and typically oversee accounting, patient financial services, purchasing, payroll and other hospital departments. A CPA and experience with inpatient psychiatric or chemical-dependency hospital finance are preferred.
From the employer
Your experience matters:
Valley Springs Behavioral Health Hospital is operated jointly with Lifepoint Health and Baystate Health. We are driven by a profound commitment to prioritize your wellbeing so you can provide exceptional care to others. As a Chief Financial Officer (CFO) joining our team, you're embracing a vital mission dedicated to making communities healthier ®. Join us on this meaningful journey where your skills, compassion and dedication will make a remarkable difference in the lives of those we serve.
The CFO is responsible for overall financial administration of the hospital, including revenue cycle, general accounting, information systems and financial reporting in accordance with all hospital and corporate policies and procedures. Ensures that internal controls are adequate to safeguard facility assets and that accounting systems are sufficient to generate accurate and timely financial reports. Also responsible for preparation of the annual hospital budget along with ongoing analytics monitoring any variances and reporting to CEO and corporate office.
How you'll contribute:
A Chief Financial Officer (CFO) who excels in this role:
- Supervise and oversee the activities of the business office staff (billing, collections, financial counseling, utilization review and data processing) and maintains effective revenue cycle processes to keep patient accounts receivable at an acceptable level and also increasing the hospital's cash flow (including management of denials).
- Ensures that company policies and procedures are effective and implemented to assure minimal risk to the facility.
- Responsible for compliance along with generally accepted accounting principles as well as any other local, state and federal guidelines required.
- Will ensure accurate capturing and posting of all financial and daily accounting activity and ensures that monthly financial statements and regular productivity reports are completed and distributed on a timely basis.
- Contribute to and monitor performance goals and objectives (EBITDAR target). Analyzes variances and with CEO, develops action plans to achieve assigned targets.
- Maintain patient accounts receivable at amounts appropriate for market, payer, and acuity mix (measured by AR days).
- Ensures all balance sheet accounts are reconciled on a monthly basis and systems of internal controls are in place to facilitate a clean audit opinion.
- Typically supervises the areas of Accounting, Patient Financial Services, Purchasing, Payroll and other departments as required at the individual hospital.
- Ensures that month end financial closing process is completed accurately and timely; prepares financial statements and monthly operating review reports to co-present with the hospital CEO to corporate management.
- Responsible for preparation of annual operating and capital budgets for the hospital.
- Assists the corporate finance and accounting team in the annual independent audit preparation and process.
- Responsible for daily, weekly and monthly reporting of operating statistics and financial metrics as scheduled and or requested.
- All other duties assigned
What we're looking for:
- Education: Bachelor's degree in finance or accounting or related field required. CPA preferred.
- Experience: Previous experience in healthcare overall financial operations/controls required. Experience in payroll also required. Knowledge of inpatient psychiatric and chemical dependency hospital finance preferred. Proficient in use of Microsoft Office applications and has used computer workstation in previous roles in hospital.
Why join us:
We believe that investing in our employees is the first step to providing excellent patient care. In addition to your base compensation, this position also offers:
Comprehensive Benefits: Multiple levels of medical, dental and vision coverage tailored benefit options for parttime and PRN employees, and more.
Financial Protection & PTO: Life, accident, critical illness, hospital indemnity insurance, short and long-term disability, paid family leave and paid time off.
Financial & Career Growth: Higher education and certification tuition assistance, loan assistance and 401(k) retirement package and company match.
Employee Wellbeing: Mental, physical, and financial wellness programs (free gym memberships, virtual care appointments, mental health services and discount programs).
Professional Development: Ongoing learning and career advancement opportunities.
Salary range: $125,000 - $185,000 per year.
More about Valley Springs Behavioral Health Hospital:
Valley Springs Behavioral Health Hospital in Holyoke, Massachusetts, is a 150-bed facility created through a joint venture between Baystate Health and Lifepoint Behavioral Health. It provides acute mental health, addiction treatment, and co-occurring disorder care for children, adolescents, adults, and seniors.
EEOC Statement
Valley Springs Behavioral Health Hospital is an Equal Opportunity Employer. Valley Springs Behavioral Health Hospital is committed to Equal Employment Opportunity for all applicants and employees and complies with all applicable laws prohibiting discrimination and harassment in employment.