Director of Finance
- Pay: Salary
- Manager: Executive Director
About New Hampshire Orthopaedic Center
New Hampshire Orthopaedic Center is a full service practice specializing in orthopaedics, focused on the diagnosis and treatment of musculoskeletal diseases and injuries. Our staff consists of fellowship-trained, subspecialty physicians who are dedicated to keeping people in motion.
About The Position
The Director of Finance directs financial activities regarding physician compensation and productivity. Provides financial direction and support to clinic operations and business functions. Participates in the development of business plans in support of the practice’s strategic and financial plans. Manages finance operations to support operational analysis and performance excellence.
Bachelor's Degree required preferably in healthcare administration, Master of Business Administration (MBA) preferred.
Must have prior medical billing and revenue cycle experience. Extensive experience managing revenue cycle for physician practice is required.
Familiarity with all departments of the revenue cycle and deep expertise varying area, including marketing and business development as well as patient access and patient financial services.
Strong communications experience should include presentation and pro forma generation, as well as an ability to interact effectively with people at all levels within a team or client organization.
Demonstrated financial and marketing management experience specifically in the Medical field.
Exhibits expertise and comfort working with physicians, staff, senior managers, and external stakeholders.
Demonstrated track record of delivering revenue cycle improvements.
Familiarity with technology implementations in a healthcare setting.
Strong knowledge of healthcare industry compliance areas such as ICD-10 and Meaningful Use, and the ability to manage consulting engagements in these areas.
Intermediate MS Office required (Outlook, Excel, Word, PowerPoint).
Understanding of the market, trends, competition, and culture of independent physician practice.
Understanding of GAAP and ledgers. Quick books experience preferred.
Compensation & Benefits:
Commensurate with experience.
- Analyzes medical billing and collection procedures.
- Directs physician production and compensation reporting process assuring accurate and timely reporting. Meets with physicians to review compensation and production results.
- Consults with physicians, executive team, and management team regarding strategies to improve practice metrics.
- Coordinates activities with business functions to maximize practice revenue.
- Effectively manages change and has the ability to implement operational improvements.
- Communicate effectively with providers, executive team, management team, staff, patients, and vendors.
- Responsible for financial strategy and planning, monitoring, and reporting in collaboration with various third-party consultants, including CPA/Accountant.
- Involved in business staff management, motivation, training, recruitment, and selection.
- Contributes to strategic planning and development as a member of the executive team.
- Oversees company insurance, licensing, credentialing and all contracts and agreements (including third-party payer contract management), legal areas and activities, corporate level negotiations, major supplier/customer/partner relationships, regulatory bodies’ relationships and strategies, approvals and accreditations.
- Develops financial policies and oversees their implementation.
- Manages relationships with hospitals/facilities and other external contacts, including PM vendor; PSA arrangements, etc.
- Monitors financial activities, including budgeting, analysis, accounting, billing, payer contracting, collections, and preparation of tax returns.
- Directs all general accounting functions, including general ledger maintenance, annual financial audits, monthly financial statement preparation, monthly variance analysis and accounts payable functions.
- Works closely with outside accounting firm regarding annual audits and tax filings.
- Directs and prepares all statistical analysis and reporting, including monthly and operating management statistics.
- Involved in obtaining funds for capital development.
- Formulates financial planning activities, including annual capital and operating budget preparation.
- Manages accounts payable.
- Analyzes expenditures, develops financing strategies and ensures appropriate income/cash flow.
- Manages cash management functions.
- Manages billing manager and departmental performance, including team of purchasing agent, accounts payable, marketing team, and contract analyst; responsible for billing manager’s performance.
- For supervised departments; ensures the development of departmental plans, goals, policies and procedures, and budget.
- Develops and manages corporate banking relationships; ensuring covenant compliance.
- Assists in short-term and long-term strategic planning of the company by identifying risks and opportunities, and defining the general direction and growth of the business.
- Contributes to the review and approval of business development proposals and analysis