Chief Financial Officer (CFO) MeadowWood Behavioral Health System in New Castle, DE at Acadia Healthcare

Date Posted: 11/14/2020

Job Snapshot

Job Description

Overview

MeadowWood Behavioral Health System is currently recruiting for a strong energetic leader to join our team as the CFO.

How We Help

MeadowWood Behavioral Health System is committed to providing compassionate and comprehensive behavioral healthcare services to adolescents, adults, and seniors. Our commitment extends to the family as a whole, and endeavors to deliver the highest quality treatment for psychiatric disorders and/or addictive diseases.

MeadowWood Behavioral Health System, located in New Castle, Delaware, is a 120-bed psychiatric and addiction treatment facility located on 11 private acres. We are a top provider for adolescent, adult, and geriatric mental health and substance abuse treatment services in the area. As a psychiatric and addiction detox treatment facility, we offer a safe and comfortable environment where patients can leave the stress of the outside world behind and focus completely on their recovery.

Our entire staff is committed to providing compassionate and comprehensive care to all individuals who come to us looking for a higher quality of life. As trained behavioral health professionals, we coordinate individualized psychiatric treatment plans and safe detox programs with health care providers, family members, and other community supports. Our physician-led team of behavioral health clinical professionals focuses on treating each person individually rather than as a member of a group. We do not simply treat the symptoms afflicting our patients, we treat the entire person as a whole. Additionally, we believe that by keeping open communication between clinical team members, our patients, and the patient’s families, we are able to provide exceptional customer service that ensures the focus is always on our patients in helping them find long-lasting, successful recovery.

Your Impact as CFO 

Improving the lives we touch is our number one goal at MeadowWood Behavioral Health System. The Facility CFO is an integral part of the senior leadership team and expected to participate in the financial and functional decision-making processes necessary for the successful attainment of the facility’s operational and financial goals.  The Facility CFO has responsibility and is accountable for overall financial operations and is responsible for all aspects of the day to day fiscal management of the facility.   

Responsibilities

ESSENTIAL FUNCTIONS

  • Ensures that monthly financial statements are completed timely and accurately.
  • Ensures that all balance sheet accounts are reconciled on a monthly basis and in compliance with company policies and standards and that any outstanding variances are identified and corrected timely.
  • Prepares corporate required reports (including the Monthly Operating Report, Monthly Certifications, Corporate Disclosures, Forecasts) timely and accurately.
  • Ensures all accounting and business office policies and required internal controls are in place to facilitate a clean audit with no material audit adjustments or deficiencies found.  Ensures that all approval processes are in place. 
  • Directs the operations of the Revenue Cycle to ensure that accounts receivable are collected timely and uncompensated care is kept to a minimum.  Strives to achieve goals for cash collections and AR days and to reduce bad debt and denials. Routinely reviews revenue cycle metrics to proactively identify and address issues affecting overall performance.
  • Is actively involved in ensuring Front End Revenue Cycle processes are in place including ensuring the insurance verification is completed on 100% of patients, working with the Financial Counselor to ensure proper determination of patient portions and approval of any discounts or charity and proper logging of upfront collections.
  • Maintains a thorough working knowledge of federal, state and managed care reimbursement methodologies to ensure that facility is paid accurately and revenue deductions are recorded accurately.  Facilitates preparation of any required cost reports.
  • Supervises Accounting, Patient Accounting, Health Information Management, Materials Management and other departments assigned by the CEO.  These departments may include, but are not limited to, Health Information Management, Materials Management, and Human Resources.  Ensures department is adequately staffed and trained. 
  • Ensures compliance with Group Purchasing contract and monitors purchases to ensure supply costs are kept to budgeted levels. 
  • Prepares annual operating budget and participates in the annual strategic planning process which serves as a basis for the budget.  Provides ongoing analysis of variances from budget and assists the CEO in implementing changes needed to achieve budget goals. 
  • Prepares annual capital budgets and Capital Equipment Requests.  Ensures assets and related depreciation is recorded accurately and in compliance with company policies.
  • Provides financial leadership and guidance to facility managers.  Trains managers on financial matters and provides routine feedback regarding department performance.

Job Requirements

EDUCATION/EXPERIENCE/SKILL REQUIREMENTS:

  • Bachelor’s degree in Accounting or business related field with major in Accounting.
  • Minimum 3 years successful CFO experience in a healthcare setting desired.
  • Previous Behavioral healthcare experience highly preferred.
  • Previous experience with a proprietary healthcare system highly preferred.
  • CPA or Master’s degree a plus.
  • Proven financial analysis skills.
  • Experience working with information technology and proficiency with software packages including Excel and Word.
  • Demonstrated leadership ability.
  • Demonstrates excellent communication skills, both written and verbal. 
  • Ability to think strategically and solve problems.
  • Ability to establish and maintain effective working relationships with facility staff, physicians and corporate staff.
  • Ability to lead with a high degree of emotional intelligence and ethics.

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