Spartanburg Regional Healthcare System hiring Division Chief Financial Officer - MGC in Spartanburg, South Carolina, United States | LinkedIn (2024)

Spartanburg Regional Healthcare System hiring Division Chief Financial Officer - MGC in Spartanburg, South Carolina, United States | LinkedIn (1)

Division Chief Financial Officer - MGC

Spartanburg Regional Healthcare System Spartanburg, SC

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Spartanburg Regional Healthcare System Spartanburg, SC

4 months ago

Spartanburg Regional Healthcare System hiring Division Chief Financial Officer - MGC in Spartanburg, South Carolina, United States | LinkedIn (4) Spartanburg Regional Healthcare System hiring Division Chief Financial Officer - MGC in Spartanburg, South Carolina, United States | LinkedIn (5) Spartanburg Regional Healthcare System hiring Division Chief Financial Officer - MGC in Spartanburg, South Carolina, United States | LinkedIn (6)

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Position SummaryThe Division Chief Financial Officer (CFO) is responsible for the financial leadership of the Medical Group of the Carolinas (MGC) including the strategic design and administration of all physician compensation programs. The position will report to the System VP of Finance with a matrixed reporting relationship to Medical Group of the Carolinas (MGC) Executive leadership.

The CFO is responsible for the development and administration of provider contracts and works with MGC leadership to develop contracts as necessary following all federal and state guidelines and oversight requirements of all regulatory agencies. The contracts will be developed in coordination with senior leadership and within the parameters of the compliance department to ensure the contracts are representative of the best practice standards and are in line with all legal requirements.

The CFO will be responsible for the financial reporting of the MGC Division in collaboration with the System Accounting Department. The CFO will lead staff in providing monthly financial reviews. Those reviews will consist of physician and other provider compensation review, net revenue, and the general overall operating performance of each individual practice. The CFO will provide financial updates and reviews of the MGC Division and its departments on a routine and requested basis for strategic planning of services. The CFO will develop compensation plans and incentives, direct the preparation of compensation models, document fair market value and commercial reasonableness, administer physician contracts and associated reporting, create, and maintain policies and best practices, and monitor industry trends involving physician compensation. Additionally, the CFO will ensure physician compensation models and practices are effective, well understood, compliant with applicable state and federal laws and regulations, and align with MGC's physician compensation philosophy and with strategic objectives.

The CFO will lead a team that provides contract oversight that will include employed physicians and allied health professionals, independent groups, individual physicians, non-physicians, and possibly other entities who are healthcare related but provide no direct patient services. As needed, position may be required to communicate and negotiate directly with physicians and other healthcare professionals in relation to the terms and conditions of contract. Position may be required to meet with physician management, managers, or executives regarding specifics of contracts.

The CFO will serve as a consultative partner with leaders across the organization and have comprehensive knowledge of the application of various compensation and benefits best practices in a large scale, matrix organization. The CFO should have experience with a variety of physician compensation models and contract models and will provide leadership support to MGC operational department managers, meeting with them regularly to provide guidance and communication related to contracts and other areas of MGC finance.

The CFO will approve payments for contracts in cases where payment levels require such per policy. The CFO may also be required to develop and maintain policies specific to the role and function of the position.

The CFO will lead the operations support efforts of the finance division for MGC. The CFO will work with finance and executive leadership to develop an annual operating budget to include physician compensation plans and MGC practice operations and will provide recommendations and analytical support to operational leaders in MGC to support superior financial performance.

Job Functions And Major Responsibilities

  • Aligns physician compensation strategies, incentive pay practices and supporting infrastructure with goals and opportunities established within the system.
  • Serves as subject matter expert and providing information on market trends, benchmarking, strategies, opportunity assessments, and best practices that impact physician compensation and physician practice finance
  • Administers all aspects of physician and advanced practice clinical compensation for a large (approximately 900 providers) multi-location multispecialty group owned by the hospital system.
  • Supervises a team of 7-10 financial analysts.
  • Works in conjunction with executive management and legal counsel to develop new employment agreements, professional service agreements, while maintaining and updating current existing agreements and changes as necessary. Maintains the database of all existing agreements and is responsible for assuring communication of all changes with financial and/ or budgetary impact.
  • Takes appropriate actions to facilitate the timely execution of contract documents through the approval process and ensures that all appropriate approvals are obtained.
  • Maintains current knowledge of legal and regulatory requirements related to physician contracts, develops, and implements physician compensation programs, and conduct internal evaluations and assessments to ensure program compliance. Proactively follows up on the outstanding items needed for appropriate communication or documentation regarding physician compensation.
  • Performs financial modeling, obtains internal or external valuations or assessments to ensure compliance with policies, regulatory requirements, and financial concepts. Develops operating budget for practice and physician operations.
  • Responsible for the financial reporting of the MGC Division through collaboration of the System Accounting Department. The CFO will provide financial updates and reviews of the MGC Division and its components on a routine and requested basis for strategic planning of services and monitoring of financial performance.
  • Works with other divisions the System to coordinate financial planning, financial operations, and system development of various service lines.
  • Serves as liaison to MGC leadership on physician compensation design, changes, or interpretations of compensation plans or amendments and communication liaison with finance, operations, human resources, payroll, and other internal groups.
  • Keeps abreast of developments in physician compensation methods and proposes changes to current physician compensation plans to keep pace with the market within changing legal and regulatory requirements. Works collaboratively with leadership and other team members to develop and foster continuous improvement, resolve specific issues pertaining to physician compensation and benefits, and routinely assesses changing needs.

Position Qualifications And RequirementsEducation:

  • A bachelor's degree or higher in accounting, finance, business, or related field is required. A master’s degree in business, health administration or related discipline or CPA is a plus.

Experience:

  • 10 to 15 years of healthcare leadership experience, including proven ability to design and implement physician compensation models to align with healthcare system strategies. Experience should be in a financial leadership/management role with a large multi-specialty physician group practice in a hospital/healthcare owned system.
  • Successful experience in negotiating and administering a variety of different types of physician contracts and working directly with and communicating with senior leadership and individual physicians.

Required Skills and Abilities:

  • Preferred candidates will have working knowledge in healthcare services operations and billing (including cpt code familiarity).
  • Proficiency in Microsoft Office, including Excel and financial systems. Knowledge of accounting, healthcare and business analytical systems is a plus.
  • Excellent problem-solving, analytical and thinking skills, both independently, as well as part of a group.
  • Able to promptly and efficiently review, analyze, and apply large amounts of information pertaining to Medical Group operations and financial transactions with physicians.
  • Proven ability to effectively communicate with, supervise, and support the professional development of their team members, including coaching, mentoring, and providing professional development opportunities.
  • Able to facilitate the formation of and participate in multidisciplinary teams to evaluate and implement appropriate changes in practices, policies, and procedures.
  • Excellent collaboration and teamwork skills. Must have excellent physician relationship skills. Must have a strong understanding of stark, anti-kickback statute, FMV concepts and national benchmarking. Working familiarity of tax laws and pay equity regulations.
  • Able to work directly and communicate effectively in both verbal and in writing with a wide variety of internal clients across the system.

Other characteristics and personal attributes sought in the candidate include:

  • High level of integrity. Trustworthy. Takes the time to gain credibility.
  • Excellent interpersonal skills, including strong verbal and written communication skills.
  • Level headed, and diplomatic.
  • Possesses a ‘can do’ attitude and willingness to ‘roll up sleeves’ when needed.
  • High level of accountability and respect for others
  • Able to juggle priorities and understands the ‘big picture.’
  • Able to provide and received constructive criticism well.
  • Able to deal with ambiguity.
  • Empathetic, but direct
  • Excellent relationship building skills.
  • Team player and team leader. Excellent coach, mentor, and developer of people.
  • Able to fit in and embrace the culture of the organization.
  • Can effectively work with people at all levels of the organization.
  • Evidence of attention to detail
  • Seniority level

    Executive
  • Employment type

    Full-time
  • Job function

    Finance and Sales
  • Industries

    Hospitals and Health Care

Spartanburg Regional Healthcare System hiring Division Chief Financial Officer - MGC in Spartanburg, South Carolina, United States | LinkedIn (8) Spartanburg Regional Healthcare System hiring Division Chief Financial Officer - MGC in Spartanburg, South Carolina, United States | LinkedIn (9) Spartanburg Regional Healthcare System hiring Division Chief Financial Officer - MGC in Spartanburg, South Carolina, United States | LinkedIn (10)

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