Chief Financial Officer (CFO)

The Hospital CFO is both accountable and responsible for all aspects of the revenue cycle and the hospital financial management for the assigned hospital(s). The position reports to the Regional Chief Revenue Officer/ Chief Financial Officer with an additional reporting relationship to the assigned local Hospital(s) President.â¯

The hospital CFO is accountable for ensuring all aspects of a fully optimized revenue cycle operation within the hospital setting, including an advisory role, to ensure accurate financial statements are explained. The role is accountable for meeting Steward's “Key Financial Metrics,” and working to appropriately address metric variances.

Accountable for overall revenue cycle, revenue integrity/quality, and ensuring all billing compliance and government regulations are followed.

Accountable for appropriate and accurate daily charge capture by department, daily department revenue reconciliations, fixing rejected charges, and minimizing late charges.

Accountable for oversight of denial management including editing work lists, root cause analysis, recommendations for process/system enhancements, and overall coaching and leading staff.

To advise and collaborate with centralized financial reporting explaining variances and determining mitigating actions.

The role oversees and is responsible for leading internal hospital departments and ensuring staffing levels are optimized across the revenue cycle and may include Patient Access (Registration, Patient Financial Services, Referrals, and Authorizations), Care Management (CM), Health Information Services (HIM) and Coding, Clinical Documentation Excellence (CDE), Revenue Integrity (RI) and Charging, Payer Auditing, Local Finance, and other areas as assigned.

Accountable for the following revenue cycle and financial components (subject to change by area):

• Patient Access. Responsible for the following:
• Patient Registration.
• Insurance verification and approvals.
• Ensuring appropriate Referrals.
• Ensuring accurate Authorizations.
• Copay collections.
• Working on related edits and denials.

Care Management. Responsible for the following:

• Concurrent case management duties.
• Discharge services.
• Responsible for working with third-party payers with respect to all level-of-care and length-of-stay issues.
• Denial Management and follow-up.
• Working on related edits and denials.
• Health Information Management and Coding. Responsible for the following:
• All medical records, transcription and, coding.
• Monitoring and enforcement of completion of records by physicians.
• Monitoring and enforcement of coding by clinical departments.
• Oversee coding operations.
• Working relation ed edits and denials.

Clinical Documentation Excellence. Responsible for the following:

• Accuracy and thoroughness of all clinical documentation.
• Appropriate diagnoses and CPT/HCPCS billing categories applied.
• Education and training of clinical teams.
• Working on related edits and denials.
• Revenue Cycle Operations/ Revenue Integrity and Charging. Responsible for the following:
• Responsible for daily charge review for tracking hospital performance
• Ensure daily charge reconciliation by the department.
• Escalation and issue management
• Charge master coordination with central office
• Late charge variances
• Steward Financial Metrics
• Working related edits and denials.

Payer Auditing. Responsible for the following:

• Responsible for defending the hospitals’ interests on all third-party payer audits.
• Tracking and reporting payer audit issues.
• Working relation ed edits and denials.
• Financial Responsibilities. Responsible for the following:
• Review annual net revenue budgets for hospital(s). Explain variances.
• Review the accuracy of financial statements and balance sheets.
• Review and explain all deductions from revenue and bad debt.
• Review revenue monthly for all hospitals.
• Adhoc financial analysis as required.

Education / Experience / Certifications / other:

• Education: Bachelor's degree in relevant filed required, Master’s preferred.
• Experience (Type & Length): Minimum of ten years’ experience in healthcare, with significant experience in hospital revenue cycle functions.
• Hardware/Software: Meditech, MS Office (Excel, Word, PPT), Access, SQL, and/or other query/analytic tools.