Chief Financial Officer

Lifepoint Health; Holyoke (MA); On-site; USD 125,000 - 200,000; Full time

Job summary

Lifepoint Health seeks a Chief Financial Officer to lead financial administration at Valley Springs Behavioral Health Hospital. The role covers revenue cycle, general accounting, IS, and financial reporting under policy. Focus areas include internal controls, annual budgeting, and analytics to guide CEO and corporate offices.

The CFO will supervise hospital finance operations, ensure GAAP compliance, and drive cash flow, audits, and performance metrics to meet EBITDAR targets and strategic goals.

Qualifications

• Bachelor’s degree in finance or accounting required.
• CPA preferred.
• Healthcare finance experience preferred.
• Payroll experience required.

Responsibilities

• Create and present financial and tax strategy recommendations to CEO.
• Oversee cash flow, cash management, working capital, and audits.
• Prepare financial statements and reports.
• Ensure legal compliance on all financial functions.
• Maintain revenue cycle processes and controls to optimize AR days.

Skills

Financial management

Budgeting

Financial reporting

Cash flow management

Internal controls

Leadership

Strategic planning

Revenue cycle

Education

Bachelor’s degree in finance or accounting

CPA preferred

Tools

Microsoft Office

Job description

As a Chief Financial Officer (CFO) joining our team, you're embracing a vital mission dedicated to making communities healthier ®.

Join us on this meaningful journey where your skills, compassion and dedication will make a remarkable difference in the lives of those we serve.

About the Hospital

Valley Springs Behavioral Health Hospital is operated jointly with Lifepoint Health and Baystate Health. We are driven by a profound commitment to prioritize your wellbeing so you can provide exceptional care to others.

At Valley Springs, we specialize in treating teens, adults, and seniors who suffer from mental, behavioral, and co-occurring disorders. We provide a full-range of evidence-based medical and clinical services in a state-of-the-art healing environment.

Inpatient and outpatient treatment is available to help diagnose, manage and treat a wide range of mental health issues.

About the Role

The CFO is responsible for overall financial administration of the hospital, including revenue cycle, general accounting, information systems and financial reporting in accordance with all hospital and corporate policies and procedures. Ensures that internal controls are adequate to safeguard facility assets and that accounting systems are sufficient to generate accurate and timely financial reports. Also responsible for preparation of the annual hospital budget along with ongoing analytics monitoring any variances and reporting to CEO and corporate office.

Responsibilities

• Create and present financial and tax strategy recommendations to CEO
• Support the financial planning and analysis efforts
• Oversee cash flow, cash management, working capital, and company audits
• Prepare financial statements and reports
• Ensure legal compliance on all financial functions
• Manage relationships with banks
• Supervise and oversee the activities of the business office staff (billing, collections, financial counseling, utilization review and data processing) and maintains effective revenue cycle processes to keep patient accounts receivable at an acceptable level and also increasing the hospital’s cash flow (including management of denials).
• Ensures that company policies and procedures are effective and implemented to assure minimal risk to the facility.
• Responsible for compliance along with generally accepted accounting principles as well as any other local, state and federal guidelines required.
• Will ensure accurate capturing and posting of all financial and daily accounting activity and ensures that monthly financial statements and regular productivity reports are completed and distributed on a timely basis.
• Maintain patient accounts receivable at amounts appropriate for market, payer, and acuity mix (measured by AR days).
• Contribute to and monitor performance goals and objectives (EBITDAR target). Analyzes variances and with CEO, develops action plans to achieve assigned targets.
• Ensures all balance sheet accounts are reconciled on a monthly basis and systems of internal controls are in place to facilitate a clean audit opinion.
• Typically supervises the areas of Accounting, Patient Financial Services, Purchasing, Payroll and other departments as required at the individual hospital.
• Ensures that month-end financial closing process is completed accurately and timely; prepares financial statements and monthly operating review reports to co-present with the hospital CEO to corporate management.
• Responsible for preparation of annual operating and capital budgets for the hospital.
• Assists the corporate finance and accounting team in the annual independent audit preparation and process.
• Responsible for daily, weekly and monthly reporting of operating statistics and financial metrics as scheduled and or requested.
• All other duties assigned

Qualifications

Education:

• Bachelor’s degree in finance or accounting or related field required.
• CPA preferred.

Experience:

• Previous experience in healthcare overall financial operations/controls required.
• Knowledge of in-patient psychiatric and chemical dependency hospital finance preferred.
• Experience in payroll also required.
• Proficient in use of Microsoft Office applications and has used computer workstation in previous roles in hospital.
• Salary range: $125,000 - $200,000 per year.

Equal Opportunity Statement

Valley Springs Behavioral Health Hospital is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.