Senior Vice President/Chief Financial Officer
|Category:||Government/Not-For-Profit : Education|
About MidMichigan Health
Fiscal Year 2019 (July 1, 2018 – June 30, 2019)
Employees, Volunteers & Physicians 8,700
Employed Physicians and Providers 300
Licensed Beds 722
Admissions 27, 324
Hospital Outpatient Clinic Visits 632,939
Ambulatory Surgery Visits 502,131
Physician Visits 775,888
Home Health Visits 100,108
Community Benefit (cost) $91M
Emergency Room Visits 123,498
Acute Patient Days 111,759
MidMichigan Health is a non-profit health system, headquartered in Midland, Michigan, affiliated with Michigan Medicine, the health care division of the University of Michigan. MidMichigan Health covers a 23-county region with medical centers in Midland, Alpena, Alma, Clare, Gladwin, Mt. Pleasant and West Branch. In addition to its Medical Centers, MidMichigan Health also offers both home health care and physician services, and has a strong commitment to medical education.
MidMichigan Physicians Group provides urgent care and medical offices in more than 30 specialties and subspecialties including cardiology, hematology/oncology, orthopedics, vascular surgery, family medicine and more. The MidMichigan Health Foundation supports patients and families served by MidMichigan Health by raising funds for equipment, services and programs. Currently, MidMichigan has more than 8,700 employees, volunteers, physicians and other personnel and provided more than $91 million in community benefits in fiscal year 2019.
About MidMichigan Health’s Partnership with Michigan Medicine
MidMichigan Health is aligned in a clinical and business partnership with Michigan Medicine, the academic medical center of the University of Michigan. MidMichigan Health and The University of Michigan Health System (UMHS) participate in quality improvement and assessment activities as part of an organized health care arrange- ment (OHCA) where the providers work jointly to help improve the quality of your care.
A national leader in advanced patient care, innovative research, and the training of physicians and medical scientists, Michigan Medicine is known for world-class medi- cine. In addition to the University of Michigan Medical School and the 1,750 physi- cians of its Faculty Group Practice, Michigan Medicine includes University Hospital,
C.S. Mott Children's Hospital, Von Voigtlander Women's Hospital, hundreds of out- patient clinics and approximately 40 health centers in four counties, as well as some of the nation’s top biomedical research and education programs.
The partnership between MidMichigan and the University of Michigan is intended to expand access, quality, and the level of care provided for patients who live in the 22- county region served by MidMichigan Health. It will also explore joint efforts in tele- medicine, clinical data analysis and information technology, all of which will be key to successfully providing health care in the future, positioning both organizations to succeed in the new health care environment.
The SVP/CFO is responsible for all aspects of financial leadership across MidMichigan Health. This position will work closely and collaborate with the MidMichigan Health Executive and Senior Leadership teams, regional Presidents, and senior finance leaders. The SVP/CFO serves as a key advisor to the CEO and Board of Directors. The CFO serves as the liaison for the Board of Directors’ Audit, Finance and Investment Committees. The SVP/CFO supports MidMichigan Health’s success by ensuring alignment between the financial goals and the overall strategic plan. This position remains committed to transparency and ensuring the mission and vision of MidMichigan Health can be met. The SVP/CFO will provide a strong balance between strategic and operational finance and maintains a strong focus on maximizing financial performance as well as leading collaboratively with the clinical teams to support our “Transformation Journey to Excellence”. The SVP/CFO also serves as the CFO of MidMichigan Medical Center
-Midland, our regional referral center/Level II trauma center.
The SVP/CFO leads an integrated finance team at the system and medical center level. The SVP/CFO will be equally comfortable working with the finance team and MidMichigan Health’s leadership teams. This position will set financial targets, recommend operating and capital budgets as well as develop short and long term strategic financial plans needed to achieve strong and sustainable financial performance. The SVP/CFO will maintain a strong focus on improving profitability of the system by strengthening and improving the cost structure, revenue cycle and access to services across MidMichigan Health. This position will interact with the Board of Directors, rating agencies, investment firms, audit firms, and other external and governmental organizations critical to the success of MidMichigan Health.
The Senior Vice President and Chief Financial Officer reports to the Chief Executive Officer/President of MidMichigan Health.
The following areas directly report to this position:
- MidMichigan Health’s System VP for Supply Chain
- Finance Leaders: MidMichigan Medical Centers: Alpena/Clare/Gladwin/ Gratiot/Mt. Pleasant/West Branch; MidMichigan Home Care and the Physi- cian Enterprise
- Corporate Controller (system)
- Director of Financial Planning & Analysis (system)
- Director of Internal Audit and Corporate Compliance Officer (system)
- Director of Pay Management (system accounts payable and payroll)
- Director of Pricing & Reimbursement (system)
- Director of Revenue Cycle Operations (system)
- Director of Treasury (system)
- Master’s Degree in Business Administration, Hospital Administration or related advanced degree o r CPA required.
- An undergraduate degree in Finance/Accounting, Business Administration or related discipline is required.
- Minimum of ten-plus years of financial management experience preferably as a Chief Financial Officer or a strong VP-level leader in a successful, complex integrated delivery health system.
- Minimum of ten years executive management experience required, preferably in a complex multi-hospital system.
- Experience aligning system-level, strategic financial needs with that of hospital operations and a track record of leading a complex portfolio within a multi-site health system.
- Experience leading financial services in a matrixed operating system model.
- History of quickly developing credibility and forging strong partnerships with senior leaders across a health system.
- Experience with joint ventures (including academic medical centers), mergers and acquisitions, and any pre/post deal activities including but not limited to integration.
- Exposure to the following areas: business operations, finance, managed care contracting, pension accounting, treasury, and value based purchasing.
- Successful track record of improving overall finances, including but not limited to building balance sheets, improving bond ratings, enhancing financial metrics, and improving overall financial operations.
- Experience with payer relations, contract negotiations, and value based reimbursement strategies.
- Current knowledge and anticipatory knowledge of upcoming accounting, compliance and financial reporting changes relevant to not-for-profit based healthcare systems.
- Experience with pricing transparency and revenue cycle operations including health information, patient access, patient billing and revenue cycle operations. Experience with Healthcare Financial Management’s MAP program is a plus.
Leadership Skills and C ompetenc ies
- Mission-driven leader with strong patient focus, with results orientation.
- Cultural Fit with MidMichigan Health delivering on the four core values of excellence, integrity, teamwork and accountability.
- Strategic leader who understands that Finance supports the mission of the health system to provide high quality, patient care.
- Strong leadership skills with demonstrated experience building and leading high performing teams but who can also be a team member who follows another leader or a team member who is actually responsible for producing original work on a team.
- Excellent facilitation and interpersonal skills. Confident and self-assured with an ability to be courageous in tackling difficult financial and organizational issues.
- Strong critical thinking/problem solving skills.
- Transparent and authentic leader who values the differences in thought and experiences and appreciates the value diversity brings to an organization.
- Ability to effectively initiate, lead and implement change.
- Outcomes-driven leader, passionate about making improvements and implementing strategic initiatives, with the ability to deliver the requisite financial results through innovation, vision and achieving collaboration and buy-in.
- Skilled negotiator who functions with a high degree of emotional intelligence across multiple settings such as com- mercial payers, employees, committee members, board members, community leaders and physician.
We have established the following priorities for this position:
Leaders hi p
- Establish personal and professional credibility with the system leadership teams. Gain respect and build trust with colleagues and the finance team.
- Become known as a strategic and responsive finance leader who takes a proactive and solutions-oriented approach to MidMichigan Health’s organizational needs.
- Become a trusted strategic financial advisor to the Chief Executive Officer/President and Chief Operating Officer as well as to the Executive and Senior Leadership Teams.
- Establish credibility with the various governance bodies (Board, Audit/Finance/Investment Committees, External Auditors, and Rating Agencies).
- Maintain and continue to develop the highly competent finance team that currently exists at MidMichigan Health.
Strategic and Financial Operations
- Develop strategies to strengthen overall financial performance at MidMichigan Health to ensure long-term sustainability. Provide support to business development for successful implementation of growth opportunities.
- Set the vision for revenue cycle to be top decile and ensure the utilization of effective and contemporary tools and technology, while creating an exceptional consumer experience.
- Refine the annual budgeting, forecasting and capital project processes to build accountability, operational efficiencyand financial rigor, while ensuring alignment of community needs with long-term sustainability.
- Provide vision and oversight over the treasury function so that the organization’s investment income grows, while MidMichigan Health maintains a healthy operating margin to ensure reinvestment in our communities with capital, employees, and technology.
- Identify and implement tools, dashboards and technology that will create consistent, timely and reliable financial information, including service line reports that focus on accurate costing, to ensure that MidMichigan Health meets its financial objectives.
- Collaboratively lead with clinical leaders operating performance initiatives if performance does not meet the required budgeted operating margin.
- Build the analytics and decision support systems to evaluate potential new ventures, partnerships and affiliations in a rapidly changing healthcare environment.
- Collaboratively work with Michigan Medicine (especially the CFO) to optimize the affiliation.
- Develop and retain high performing financial talent by growing the senior financial project analyst role at MidMichigan Health which provides for project management certification, enhanced skills and increased compensation.
Gov ernment and Payer Relations
- Become familiar with the payer and reimbursement landscape in Michigan, including the commercial and governmental payers.
- Continue implementation of pricing strategy and exceptional patient/consumer financial/billing experience.
- Work collaboratively with population health and value enhancement team to optimize MidMichigan Health’s clinical performance and thereby optimize financial performance though value-based contracting and population health management.
Love Where You Live
Natural beauty. Exciting venues for sports, culture and the arts. Close proximity to high-quality colleges and universities. There are plenty of reasons why the middle of Michigan is an outstanding place to live at any stage of your life or career.
While you’ll enjoy many amenities found in big cities, you’ll also experience the convenience of living in smaller towns. The cost of living is low. And our loca- tions provide fast, easy commutes, so you’ll be challenged by your job in a top- flight health system – not by your daily drive.
About Midland, Michigan
Visit Midland and you will soon realize that you are in a progressive and family- minded community. Voted number 4 in a nation-wide survey of The Best Small Cities to Raise a Family , Midland, Michigan boasts a small-town atmosphere coupled with big-city amenities. Art, education, family and business are valued and supported. You can enjoy plays and musicals, art exhibits and fairs, the sym- phony and internationally-known entertainers all year long at the Midland Cen- ter for the Arts and during the Matrix Midland festival.
Midland is known for its public school system - rated in the top five percent in the state. Quality higher education institutions are also plentiful. Central Michi- gan University, Davenport University, Delta College, Northwood University and Saginaw Valley State University are located within thirty minutes from down- town.
Recreation opportunities abound. Sail, swim or fish on the largest freshwater coastline in the United States. Visit more than 14 miles of beautiful nature trails at the 1200-acre Chippewa Nature Center. Walk, bike or blade the Rail Trail.
Enjoy flowers and foliage at Dow Gardens. Play tennis at the Community Tennis Center - the site of Michigan's only USTA professional tennis tournament - with 10 indoor courts. Join an adult or youth soccer team and play at the Midland Soccer Complex - one of the best in the nation. Or skate at the new 107,000- square-foot, state-of-the-art Midland Civic Arena, featuring two NHL-sized rinks and an Olympic-sized rink.
Midland also boasts a unique mix of hometown-based and nationally recognized businesses, restaurants and shops.
Korn/Ferry shall provide equal employment opportunity to all qualified candidates, and will refer candidates without regard to race, color, religion, national origin, sex, age, disability, veteran status or any other legally protected basis.