Supervisory Responsibilities: Administers, directs and monitors all hospital financial activities and keeps the hospital CEO, COO and the hospital Board of Trustees informed of the financial condition of the facility.
As part of the executive team, responsible for organization's overall financial plans, policies and accounting practices. Leads and administers the organization’s budgeting processes. Directs treasury, budgeting, audit, tax, and accounting activities for the organization. Establishes financial reporting system with controls and standards to safeguard organization assets. Ensures accurate and timely financial information. Develops accounting and statistical data. Must display a cohesive ability at interpersonal and communication skills, both verbal and written. They must be able to engage with staff at all levels of the organization and exercise sound and ethical judgement.
Duties and Responsibilities:
Works with the hospital CEO, COO, CCO, hospital board and employees to develop financial goals and objectives for the critical access hospital and rural health clinics.
Provides proactive, sound guidance regarding management of assets and investments, and financial trends within the facility.
Works with department managers and patient care executives to implement financial plans and productivity benchmarks, and to monitor progress toward financial goals.
Is actively involved in MHLC system management approaches, corporate performance and the growth of a team-oriented culture.
In conjunction with the CEO, establishes a five -year strategic financial plan for the hospital as part of the hospital’s strategic planning process.
Employs a system of responsible accounting, including budget and internal controls.
Ensures that monthly financial statements and bi-weekly productivity reports are completed and distributed on a timely basis.
Ensures that all balance sheet accounts are reconciled on a monthly basis and a system of internal controls are in place to facilitate a clean audit opinion with no audit adjustments or internal control deficiencies noted.
Maintains effective revenue cycle processes to keep patient accounts receivable at an acceptable level and also increasing the hospital’s cash flow.
Maintains a thorough working knowledge of federal, state and managed care reimbursement payment methodologies, including: contractual accounting, payment calculations, billing requirements and compliance issues.
Keeps up to date with all federal statutes surrounding participation in the Medicare and Medicaid programs, including, but not limited to: EMTALA, Medicare fraud and abuse issues,
Stark legislation, and IRS guidelines pertaining to the operation of not for profit entities.
Specific areas of responsibility include: patient financial services; maximizing cash flow consistent with sound credit and collection policies while maintaining good rapport with the community; financial reporting with detailed analysis of financial statements and variances
from budget; audits of financial statements and internal controls; examination of insurance policies to ascertain that hospital assets are properly insured against loss and that the hospital’s liability coverage meets MHLC’s management contract requirements
Monitors capital asset expenditures and depreciation; prepares annual operating budgets with input and involvement at the departmental level, as well as capital budgets and cash flow projections; arranges lines of credit and maintains proper banking relations; and adheres to County and hospital corporate compliance standards and procedures.
Supervises the areas of Accounting, Admitting/Registration, Patient Financial
Services, Credit and Collection and Credentialing.
Keeps the MHLC Administrative team (hospital CEO, COO and CCO) aware of all key financial developments. Fulfills accountability for the hospital by submitting to County Board all appropriate reports and functions as a cooperating member of a great team.
Ensures that hospital management fees are paid in accordance with the contract terms.
Works closely with the hospital CEO and COO to resolve any payment issues quickly.
Understands the benefit of and supports the hospital’s participation in the group purchasing organization (GPO).
Monitors hospital compliance within the GPO. Works closely with the COO and purchasing department to ensure compliance.
Assures renewal of the hospital management contract and works closely with the COO, business office staff, attorneys, and the hospital board to negotiate the renewal contract.
Training and Experience:
Bachelor's degree in accounting or related field required
Master’s degree in accounting or healthcare administration preferred
Minimum of five years hospital financial Management experience required
Critical Access Hospital experience required
Rural Health Clinic experience required
Prior financial leadership experience preferred
Certificates, Licenses and Registrations:
Will accept 10+ years in a CFO role in lieu of a CPA
Strategic Leadership- The ability to set long-term strategies for the organization and develop comprehensive actions to achieve those chosen strategies.
Organization Engagement- The ability to communicate to groups within the organization in an engaging and motivational manner with the objective of moving the organization toward chosen strategies and goals.
Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
Speaking - Talking to others to convey information effectively.
Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Judgment and Decision Making- Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Memorial Hospital of Lafayette County (MHLC) was built in 1952 and continues to grow to meet the health care needs of Lafayette County citizens and the surrounding area. As a critical access hospital, MHLC provides a full range of acute care inpatient and outpatients services.We are currently building a replacement hospital that is slated for completion in fall of 2024.
Primary Care Clinics are located in Argyle, Blanchardville, Darlington and Shullsburg staffed with 11 providers and very friendly staff to meet all of your healthcare needs and mental health support.
The Specialty Clinic has specialty providers available to see patients in Audiology, Cardiology, Cardiac Pacer Clinic, ENT (Ear, Nose, & Throat), Nephrology, Neurology, General Surgery, Gynecology, Ophthalmology, Optometry, Orthopaedics, Pain Management, Podiatry, and Urology.
Inpatient services include medical care, major and minor surgery, orthopaedics, cardiac care, pharmacy services and swing bed services.
Outpatient services include a multi slice CT scan, ultrasound, peripheral vascular testing, ACR & MQSA accredited mammography program, MRI and MRA scans, nuclear medicine, PET/CT scan, bone densitomet...ry, general radiography, extensive lab services, pulmonary function testing, sleep studies, dietary counseling and day care surgeries.
Emergency Department is a Trauma level 4, accessible 24 hours a day and staffed by ACLS certified physicians and RN’s working together with Lafayette County rescue squads and the surrounding area rescue squads.
MHLC is unique in the fact that we are the only County owned hospital in the state of Wisconsin.
This institution is an Equal Opportunity Provider