The Director of Financial Operations provides strategic and operational leadership and direction in the development and implementation of financial management, budgeting, accounting, revenue cycle, payer negotiations and analytics for the practice. Serves as a member of the Leadership team and plays a key role on financial operational committees by making recommendations for process improvements and efficiencies.
- Oversee the Accounting and Billing department operations.
- Work with Accounting firm on tax savings strategies for physicians/practice, tax returns and any tax issues.
- Oversee year-end process including physician productivity, quarterly/annually providing financial information and reporting.
- Participate in any physician buy-in & buy-out process.
- Oversee financing (leases, loans).
- Administer 401K and Cash Balance Plan.
- Oversee Revenue Cycle operations, forecast and identify financial trends, activities influencing the practice and proactively develop strategic planning to mitigate the impact.
- Participate in Payer contract negotiations. Collaborate with leadership in developing performance targets, reporting variances and creating remediation plans including Billing/Revenue/Reimbursement initiatives.
- Plan and project revenue and payer mix.
- Responsible and accountable for financial statements accurately and consistently reported and prepared with general accounting principles.
- Oversee tracking, accounting, GPO’s of medications used in the practice.
- Performs other related duties as required and assigned.
- Leadership - Inspires team members to improve, stretch and do more for the good of the team. Inspires others to become better leaders themselves.
- Communication & Relationship Management - Maintains open and interactive discussion with team and is aware of their needs.
- Professionalism - Develops individual relationships with coworkers and reports while maintaining work appropriate boundaries.
- Business Skills & Principles - Demonstrates understanding of practice management and staffing.
- Customer Service - Conflict resolution skills, responds promptly to customer needs.
- Project Management - Strong organization, multi-tasking skills with great attentiveness to detail. Ability to prioritize and delegate responsibilities.
- Technical Skills - Knowledge of health care and medical procedures, including terminology.
- Problem Solving/Analysis - Identify and resolve problems and conflicts promptly.
- Ethical Conduct - Maintains confidentiality.
- Compliance and Management Control- utilize appropriate financial controls that comply with Federal, State, and Local financial requirements.
- Time Management - Maintains high volume productivity level for essential functions.
This position has direct supervisory responsibilities.
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
Work from Home
Occasionally if work from home standards are met.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
- This is largely a sedentary role; however, some filing may be required. This would require the ability to lift files, bend and reach open filing cabinets and bend or stand on a stool as necessary.
- While performing the duties of this job, the employee is regularly required to talk, communicate verbally in front of groups, one to one and over the telephone and in email.
- Listening to verbal communication using a telephone and processing the information while entering the data into a computer system, processing auditory information and responding verbally back in an appropriate manner.
- Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and ability to adjust focus.
- Using hands to operate equipment such as a computer mouse, show manual or finger dexterity, handle things with precision or speed, use muscular coordination and physical stamina.
- Following through on plans or instructions.
- Ability to use words to communicate ideas, reading with comprehension and explain abstract or complex ideas in more basic terms
Position Type/Expected Hours of Work
This is a full-time position. Days and hours of work are Monday through Friday. Occasional evening and weekend work may be required as job duties demand.
Travel is estimated to be 10% local travel with advance notice for this position.
Required Education and Experience
- Bachelors or Masters in Accounting or Finance
- Experience in healthcare financial management
- Experience with tax rules for PA, NJ, DE
- Experience with a variety of hardware and software accounting platforms
MAR is a proud Equal Opportunity Employer.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.