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Company: MedStar Medical Group
Location: Columbia, MD
Career Level: Entry Level
Industries: Not specified
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Description

General Summary of Position
The Chief Financial Officer (CFO) for the Baltimore Region for MedStar Health serves as the primary financial officer for MedStar Good Samaritan Hospital, MedStar Franklin Square Medical Center, MedStar Harbor Hospital, and MedStar Union Memorial Hospital. As a key member of the Executive Management Team, the selected individual reports to the Executive Vice President & Chief Financial Officer and has dotted line accountability to the Senior Vice President & Chief Operating Officer for the Baltimore Region for MedStar Health. Major responsibilities include developing and maintaining a strategic financial plan and annual operating and capital budgets; financial analysis of new programs, review of all financial reporting and analyses reports and decision support. Responsible for directing the fiscal functions for the four (4) Baltimore MedStar Health hospitals in accordance with financial management techniques, practices, and policies appropriate within the healthcare industry in partnership with MedStar's Professional Support Services Center and MedStar Health Corporate Office.


Primary Duties and Responsibilities

  • Develops and contributes to the achievement of established department goals and objectives and adheres to department policies, procedures, quality standards and safety standards. Ensures compliance with hospital/facility policies and procedures and governmental/accreditation regulations.
  • Participates in multidisciplinary quality and service improvement teams as appropriate. Participates in meetings, serves on committees and represents the department and hospital/facility in community outreach efforts as appropriate.
  • Functions as an integral part of the overall MedStar Health finance team.
  • Works closely with hospital leadership and the health system finance team to promote good stewardship of resources.
  • Working through the management team and physicians, serve as a resource to help enhance revenues; reduce costs; achieve effective utilization and quality goals and objectives; and analyze and utilize information to develop and support management decisions.
  • Directs a comprehensive budget process for the hospitals including prioritized project submissions for the capital budget.
  • Performs monthly financial review and analysis of operating results for the hospitals. In conjunction with MedStar Professional Support Services Center (PSSC) coordinates the preparation of monthly financial analyses reports and variance analyses.
  • Directs the preparation of financial projections for new projects, major capital expenditures or proposed changes in operations.
  • Provides leadership in the development and the continuous evaluation of short and long-term strategic financial objectives for the hospitals. Develops, implements, and periodically updates a strategic financial plan/long range financial forecast, in collaboration with System finance team.
  • Interprets current financial trends and respond with appropriate action to improve financial results. Providing timely and accurate analysis of financial data, reports, and trends on a routine basis and as requested by management and others.
  • Supervises and provides leadership and mentoring to fiscal and other staff; develop and establish policies and procedures in alignment with system polices and procedures; establishes goals for professional development of staff; participate in succession planning for fiscal staff. Maintains customer service standards consistent with MedStar Health customer service standards,
  • Helps coordinate revenue cycle initiatives in collaboration with PSSC.
  • Serves as the liaison with the MedStar parent corporation, the PSSC and its subsidiaries (hospital and other MedStar entities) on financial related topics and issues.
  • Consistently demonstrates support for compliance in the performance of job duties and responsibilities by (a) developing and maintaining knowledge of, and performing job functions in compliance with, rules, regulations, policies, and statutes that affect his/her job; (b) maintaining knowledge of and performing job functions in compliance with MedStar Health, and hospital policies and procedures; and (c) reporting compliance concerns in an appropriate and timely manner.
  • Develops, in conjunction with PSSC, and manages hospitals' key financial performance indicators and works with entity management in improving financial results using such indicators.
  • Collaborate to integrate MedStar System level business transformation initiatives into hospital operations. Identify and advance entity specific business transformation initiatives.


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    Minimum Qualifications
    Education

    • Bachelor's degree (accounting or finance preferred) required
    • Master's degree preferred

    Experience

    • Minimum of 10 years of experience in progressive financial career track record in complex integrated healthcare system. required
    • Demonstrated experience in a key financial leadership position required
    • State of Maryland hospital experience preferred

    Licenses and Certifications

    • Certified Public Accountant (CPA) Upon Hire preferred

    Knowledge, Skills, and Abilities

    • Verbal and written communication skills.
    • High-energy team-oriented, forward thinking financial executive who is committed to excellence
    • Assertive, proactive and engaging management style
    • Ability to work in a fast-paced, complex, integrated healthcare environment
    • Basic computer skills preferred.


    This position has a hiring range of $318,900 - $431,500

     


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