About this position
The VP of Financial Operations is responsible for the financial health and operational efficiency of all clinical programs. This role bridges the gap between the finance department and clinical leadership, ensuring that high-quality patient care is delivered within a sustainable, profitable framework. You will oversee the Revenue Cycle Management (RCM), facility budgeting, and the financial integration of new treatment centers.
Core Responsibilities
1. Financial Reporting & Scalability
- Responsible for monthly close for operating entities
- Develop and monitor Key Performance Indicators (KPIs) for individual facilities (e.g., Contribution Margin per Bed).
- Assist financial due diligence for acquisitions or the "de novo" opening of new treatment centers.
- Standardize financial workflows across multiple sites to ensure clean audits and uniform reporting.
2. Revenue Cycle & Payer Strategy
In behavioral health, the "collections" process is notoriously complex due to varying levels of care (Residential, PHP, IOP).
- Optimize the end-to-end RCM process, from initial verification of benefits (VOB) to claims collections.
- Negotiate and manage Single Case Agreements (SCAs) and in-network contracts with payers.
- Monitor "Days Sales Outstanding" (DSO) and implement strategies to reduce denials.
3. Clinical & Operational Efficiency
- Census Management: Analyze the relationship between Bed Days, Length of Stay (LOS), and revenue.
- Labor Management: Oversee the "Cost per Patient Day," ensuring clinical staffing ratios meet both state mandates and budgetary goals.
- Utilization Review (UR) Synergy: Work closely with UR teams to ensure clinical documentation supports the levels of care being billed.
Requirements & Qualifications
- Education: Bachelor’s in finance, Accounting, or Healthcare Administration. An MBA or MHA is highly preferred.
- Experience: 10+ years in healthcare finance
- Knowledge: Deep familiarity with EMR systems and Joint Commission (TJC) or CARF accreditation standards.
- The "Soft" Side: The ability to explain a P&L statement to a Clinical Director who may be more focused on patient outcomes than margins.