POSITION TITLE: Finance Director
REPORTS TO: Founder
DEPARTMENT: Executive
TIME STATUS: Full-time
POSITION SUMMARY:
The Finance Director is a strategic leader responsible for overseeing the financial operations of a fast growing multi-clinic practice specializing in wound care and wellness services, including IV therapy and annual physicals. With a varied payor mix of commercial, Medicare, and cash-pay patients, this role is critical to ensuring the financial health, compliance, and growth of the organization. The Finance Director will manage budgeting, financial reporting, forecasting, billing, revenue cycle management and collections across multiple locations with approximately 50 employees in two states.
Duties & Responsibilities:
Financial Management
Develop and implement financial policies, procedures, and controls to ensure accuracy, compliance, and accountability.
- Prepare, manage, and oversee the annual budget process in collaboration with the CEO and department heads.
- Conduct financial forecasting and develop strategic plans to support business goals and expansion efforts.
- Oversee end-to-end revenue cycle management, ensuring accuracy and efficiency in billing, coding, claims submission, and collections processes to maximize revenue and reduce denials and outstanding receivables.
Reporting & Compliance
- Prepare timely and accurate financial reports, including balance sheets, income statements, and cash flow analysis.
- Ensure compliance with all regulatory requirements and reporting standards, especially regarding Medicare billing and reporting.
- Coordinate with external auditors and oversee annual audits, responding to findings and implementing corrective actions as necessary.
Revenue Cycle Management
- Oversee billing, coding, and collections processes, ensuring accuracy in claims submissions and timeliness of collections.
- Monitor key performance indicators (KPIs) for revenue cycle, such as days in accounts receivable (A/R) and collection rates, to identify areas for improvement.
- Work closely with clinical staff and administrative team members to streamline and optimize billing workflows, especially with the diverse payor mix.
Cash Flow & Financial Planning
- Manage cash flow to ensure adequate liquidity for operational needs and planned investments.
- Develop strategies for optimizing revenue, managing expenses, and ensuring profitability across all service lines and locations.
- Conduct financial analysis to identify trends, potential risks, and areas for cost savings.
Strategic Leadership
- Partner with the CEO and executive team to drive financial strategy and support decision-making for business expansion and investment.
- Provide leadership, guidance, and support to finance and accounting team members.
- Foster a collaborative environment, working with department heads to support financial literacy and budget accountability.
Risk Management
- Develop and implement a robust risk management strategy, including insurance and financial risk assessments.
- Ensure internal controls are in place and effective, especially regarding billing, payroll, and cash management.
- Collaborate with legal and compliance teams to mitigate financial risks associated with regulatory and operational activities.
