Vice President, Finance and Administration; Chief Financial Officer and Treasurer
|Category:||Life Sciences/Healthcare : Consumer Health|
TITLE: Vice President, Finance and Administration/Chief Financial Officer, Temple Faculty Practice Plan Inc.
COMPANY: Temple University Health System
LOCATION: Philadelphia, Pennsylvania
REPORTING RELATIONSHIP: The Vice President Finance and Administration will report to the President and CEO, Temple Faculty Physicians, Inc and to the Interim SVP and CFO, Temple University Health System.
The academic practice plan of Temple Health – Temple University Physicians (“TUP”), was previously an unincorporated division of the Lewis Katz School of Medicine of Temple University (“LKSOM”). In consultation with the Dean who is also the CEO of Temple University Health System (“TUHS”) - a separately incorporated subsidiary of Temple University (“TU”), the TU Board approved the transition of faculty and staff to a newly formed corporation, Temple Faculty Practice Plan, Inc. (TFPP”) - a wholly owned not-for-profit 501c3 corporation of TUHS on July 1, 2019. The faculty are now dually employed by TFPP and the Lewis Katz School of Medicine and retain full faculty privileges. The staff will become Temple Faculty Practice Plan employees at a future date.
The Vice President and Chief Financial Officer of TFPP (“CFO”) will work on a day-to-day basis with the CEO of TFPP and the TFPP management team. The CFO will have a direct reporting relationship to the CEO of TFPP and the CFO of TUHS and work in a matrix-like fashion with TUHS Finance, which includes the VP of Financial Reporting and Planning, VP of Financial Operations & Business Intelligence, Chief Revenue Officer, AVP of Treasury Services, AVP of Government & Payer Strategy, AVP Revenue Cycle, and the AVP of Health Information Management.
The CFO will have responsibility for the following functional areas within TFPP:
- Finance, including Accounting, Budgeting and Reporting
- Billing Compliance
- Contract Management
- Information Technology
- Space Planning & Management
The individuals responsible for these areas will either report to the CFO directly or have a matrixed reporting line to the CFO and the corresponding functional leader in the Health System, School of Medicine or outsourced vendor.
The CFO will provide executive leadership in the day-to-day and long-term financial operation of TFPP. The CFO is responsible for budget development, financial analysis, reporting and remediation, productivity analysis and reporting, and long and short-range financial planning. Working with the TFPP CEO and TUHS CFO, the CFO will develop policies and procedures governing the financial operations of the practice plan consistent with those of TUHS and assist in the development of TFPP’s long-term strategic plans ensuring alignment with TUHS. The CFO, together with the TFPP CEO, is expected to work collaboratively with the clinical department chairs and administrators in budget development, monitoring budgets against department performance, and developing remediation plans as necessary.
With the planned transition to hospital-based billing and the system-wide implementation of Epic for revenue cycle management, the CFO will need to work closely with the Chief Revenue Cycle Officer of TFPP to ensure that patient revenues are maintained, if not enhanced, during these transitions by increasing the level of oversight and control over the front and back-end revenue cycle processes.
The CFO will also be expected to work closely with the Chief Operating Officer (“COO”) of TFPP to develop and maintain a continuous quality improvement process to enhance workflows and maintain if not increase staff and faculty productivity. The individual will be expected to lead and manage an innovative financial team, work in a matrix-based environment, and serve as a partner to other executive leaders and stakeholders within TFPP, TUHS and LKSOM.
The CFO will be a dynamic and decisive leader with a strong business acumen in practice plan management, and a high degree of emotional intelligence to successfully navigate through a large complex, matrixed organization. She/he must have a demonstrated track record for top quartile financial performance in a large physician group.
- Initiate, manage and coordinate the TFPP operating budget, working in conjunction with the TUHS Finance Department. This includes establishing financial goals and objectives that are consistent with TFPP and TUHS priorities.
- Provide direction and supervision to the finance staff regarding all TFPP financial activity. This includes payroll/personnel matters, the annual faculty and administrative increment process, faculty personnel requisitions and new faculty proformas, financial system implementation, researching and resolving budget issues, analyzing data, and preparation of reports.
- Work with the Chief Revenue Cycle Officer to ensure that the terms and rates for all third-party payer agreements appropriately compensate TFPP for its services.
- Establish annual revenue cycle benchmarks that ensure top quartile performance in conjunction with the CEO, CRCO and COO of TFPP.
- Review all TFPP contracts with a focus on the business, operational, and financial terms to ensure an appropriate and adequate return on investment (ROI) as appropriate.
- Monitor faculty salaries relative to peer institutions, external markets, and regional and national benchmarks. Ensure internal equity of faculty salaries within the medical school.
- In conjunction with the TFPP CEO, work with departmental chairpersons, administrators, and faculty to ensure that financial incentives for physicians (based on performance matrices) are appropriate.
- Work with senior leadership to ensure appropriate and adequate staffing levels in the clinical departments, as well as the administrative areas of TFPP in order to maintain the level of performance and customer service expected.
- Work with the TFPP CEO and TUHS CEO – following TUHS financial planning processes, to establish a three-year financial plan to ensure the financial strength and health of TFPP through increased reserves, and improved operating performance.
- Serve as a primary motivator for and steward of a cultural transformation of TFPP in a manner characterized by a sense of urgency, a spirit of collegiality, a commitment to operating excellence, and the creation of an optimal patient-focused experience.
- Working with the leadership team of TFPP, establish metrics and processes to monitor and evaluate programmatic, clinical, and operational performance outcomes, and identify opportunities for improved TFPP effectiveness.
- Work with the Senior Director, Compliance to monitor critical risk factors.
- Oversee the information technology functions for TFPP, working in conjunction with the TUHS Chief Information Officer. Ensure that the IT needs of the faculty and staff are being met, and resources appropriately allocated.
- In conjunction with TFPP and Temple Center for Population Health (TCPH) leadership, work to further the development of the Health System’s model for an integrated environment focused on value-based care. Coordinate with and provide support to the TCPH in the complementary development and collaborative management of value-based reimbursement agreements and risk contracts with government and commercial payers.
- Partner with clinical and administrative leadership including TUHS Business Development to strengthen the patient referral network, leveraging the clinical reputation and market position of TFPP and TUHS and its physician partners.
GOALS AND OBJECTIVES:
The CFO will be expected to accomplish several key goals and objectives within the first 18 to 36 months of their tenure. The following list is not meant to be exhaustive nor in order of priority.
- Ensure the successful transition of the faculty, staff, and associated support systems, from Temple University Physicians to Temple Faculty Practice Plan, Inc. This includes the retention of key faculty, management and staff, and the transition of finance functions from TU to TUHS.
- In conjunction with the CEO, work to ensure that the FY20 budget targets are met if not exceeded, particularly those related to patient revenues, faculty and staff productivity, and expense control.
- Develop revised financial projections for FY20 and FY21 related to the transition to hospital-based billing and funds flow documents necessary to support the purchased services agreements between TFPP and other TUHS Members, TU, and other third parties.
- Establish strong working relationships across TFPP, TUHS and LKSOM, demonstrating an integrated and service-oriented approach to solving problems in a timely and efficient manner.
- Work collaboratively with the Clinical Chairs and Administrators to strengthen the financial position of their respective departments as well as the practice plan. Educate them on the use of financial reports, statistical analysis, and the budgeting process while providing technical assistance and oversight to those involved in departmental budgeting. Together with the CEO, foster a greater sense of accountability among department leadership as it relates to financial performance.
- In collaboration with the CEO and TFPP leadership team, work to refine the faculty incentive system to ensure that it meets the needs of the enterprise and faculty, and appropriately compensates faculty based on performance. This includes developing reports/systems to track and report on metrics utilized in the new model.
- Assume a leadership role in the negotiation, reporting and monitoring of all funds flow between TFPP, TUHS, TU and other third parties.
- Work with the CFO of TUHS to continuously evaluate the TFPP finance infrastructure to ensure that it is adequate to optimize TUHS’ and TFPP’s financial performance.
- Staff the Finance and Compensation/Incentive Committees of TFPP; provide leadership and direction to the Committees. Work with the chairpersons to establish the annual goals and objectives and set meeting agendas.
- Create a culture and structure that ensures visible and accessible leadership and open transparent communication with the stakeholder groups across the organization. Develop and implement a regular method of communication with physicians regarding practice performance, changes in regulatory and compliance requirements, and new programs/initiatives.
- Work with the CEO and Senior Director Business Development to pursue external partnership opportunities for TFPP – aligned with those of TUHS and its other members, to ensure the long-term viability and stability of TFPP and TUHS.
- Work with TUHS VP, Facilities and the TFPP Senior Director, Space Planning and Management, to evaluate and manage the ambulatory space needs of TFPP and incorporate those into the Health System’s Capital Planning process.
- Work with the CRCO to develop monthly and quarterly reports to assess billing compliance, with a focus on year-over-year changes in coding. Work with TUHS Finance leadership to monitor and reduce denials.
- Develop and implement a long-term strategy with the TFPP CEO, TUHS CFO, AVP Government & Payer Strategy, and VP Government Affairs to ensure stable and consistent government funding for the practice plan and TUHS given the challenges of third-party reimbursement.
- Work with the TUHS CIO to evaluate TFPP’s information technology needs to support the TUHS long range information systems and technology plan to implement contemporary technology supporting the clinical, operational, and financial operations of TFPP consistent with that of TUHS.
- Bachelor’s degree in accounting or finance. Master’s in Business Administration, Finance or Accounting is required. CPA with Big 4 experience is preferred.
- Minimum of ten years of senior management experience responsible for the financial operations of a large, multi-specialty group practice.
- Track record of working collaboratively with a wide constituency including department chairs, department business administrators, practice plan operations staff, information technology staff, matrixed parent organizations, and health system CFOs.
- Experience in cash and accrual accounting, billing operations, reimbursement, financial control systems, information technology, billing compliance, and managed care in an academic health system.
- Demonstrated knowledge of the reimbursement issues facing hospitals and physician practices.
- Strong and obvious leadership and management skills based on confidence and competence.
- Hands-on approach to management with the ability to focus on details as well as the big picture.
- Comfortable with a matrix management structure.
- Hardworking, self-motivated, results-oriented individual.
- Excellent communication skills (writing, speaking, and listening) and interpersonal skills. Has an open, honest and objective manner and the ability to interact effectively with physicians, senior management and employees at all levels of the organization; is tactful and diplomatic.
- Change agent who is willing to take calculated risks; has ability to effectively overcome the internal resistance to change that may exist among long time employees within an organization undergoing change.
- Customer service orientation; willingly shares information, as appropriate.
- Demonstrates a confident style and an assertive approach in building relationships, has enthusiastic disposition and high energy level.
- Proven ability to develop and execute short and long-term strategic initiatives.
- Ability to lead through influence, direction and shared authority and bring disparate groups together.
- High level of integrity; develop trust through honesty, authenticity and a sense of justice. Leads by example; selfless and quiet ego. A team-oriented leadership style.
- Ability to work effectively with multiple and diverse stakeholders across organizational and professional boundaries in the context of competing and, at times, conflicting agendas, and in an environment characterized by multiple missions. An appreciation of the complexity associated with the culture of academic medicine.
Temple University, a comprehensive state-related research university is the 28th largest university in the United States. Founded in 1884 by Russell Conwell as an informal adult-education outgrowth of his Grace Baptist Church ministry, Temple College was chartered in 1888, and incorporated as Temple University in 1907. Since 1965, Temple has been one of three state-related research universities in Pennsylvania; the other two are the University of Pittsburgh and Pennsylvania State University. Four of Temple’s seven Pennsylvania locations are in Philadelphia. In addition to the 115-acre Main Campus and 17-acre Health Sciences Campus, Temple has two locations in Center City Philadelphia - the School of Podiatric Medicine and Temple University Center City, which offers credit and non-credit education and is located across from City Hall. In Philadelphia’s northern suburbs, there is the 186-acre campus in Ambler and a location in Fort Washington offering graduate and noncredit courses. A seventh location is in the state’s capital, Harrisburg, where Temple offers graduate degree and certificate programs.
The University has several long-established locations abroad. Temple University Japan (TUJ), Temple’s pioneering campus in Tokyo celebrated its 25th anniversary in 2007. TUJ was the first foreign University recognized by Japan’s Ministry of Education. Temple University Rome, located in Rome’s Villa Caproni, was established in 1966. Temple also operates study abroad programs in Brazil, China, Costa Rica, France, Germany, Ghana, India, Italy, Jamaica, Japan, Mexico, Senegal, Spain, the United Kingdom and other locations worldwide.
Temple Faculty Practice Plan (TFPP)
Temple Faculty Practice Plan is made up of nearly 500 employed physicians who are the cornerstone of clinical care and teaching for Temple’s healthcare enterprise. These physicians’ practice in 20 academic departments and include virtually every subspecialty in modern medicine.
Temple physicians wear many hats. They are compassionate clinicians who are leaders in their fields and renowned for providing high-quality care. They are gifted teachers of medical students, residents and fellows at the Lewis Katz School of Medicine at Temple University and Temple University Hospital. They are innovative researchers who are developing new treatments and pushing the boundaries of medical science.
In recent years, TFPP has expanded its geographic footprint beyond the Health Sciences Center in north Philadelphia. Today, Temple physicians care for patients in several Temple affiliated hospitals, in addition to Center City Philadelphia, Fort Washington, Oaks and other outpatient settings. This expanded reach has brought Temple medical care closer to home for many patients.
Temple Faculty Practice Plan is governed by a Board of Directors. The Board chair is the Dean of the Lewis Katz School of Medicine at Temple University.
Temple University Health System (TUHS)
Created in 1995 to manage Temple University’s growing array of health care services, TUHS is a $1.8 billion academic health system dedicated to providing access to quality patient care and supporting excellence in medical education and research. The Health System consists of TUH, ranked among the “Best Hospitals” in the region by “U.S. News & World Report”; TUH-Episcopal Campus; TUH-Northeastern Campus; Fox Chase Cancer Center, an NCI-designated comprehensive cancer center; Jeanes Hospital; Temple Transport Team, a ground and air-ambulance company; Temple Physicians Inc., a network of community-based specialty and primary-care physician practices; and as of July 1, 2019, Temple Faculty Practice Plan Inc. TUHS is affiliated with the Lewis Katz School of Medicine at Temple University.
The Health System maintains a vigorous and dynamic platform for teaching and education, while enhancing the health of the communities it serves. The non-profit network of hospitals and physicians provides a comprehensive array of inpatient/outpatient services and provides an environment for the highest quality patient care, teaching and training. TUHS provides the chief clinical training sites for the Lewis Katz School of Medicine at TU.
Temple University Hospital (TUH)
TUH, the flagship hospital, is a 740-bed tertiary and quaternary-level acute care hospital in close proximity to the School of Medicine. TUH is a high-volume urban center, with over 150,000 outpatient visits yearly, 28,000 admissions, and 2,700 births. A Level 1 Trauma Center, TUH has one of the busiest emergency departments in the region. The hospital provides patients with ready access to an exceptional group of physicians in every specialty and primary care field. These doctors include the nationally recognized faculty of the LKSOM, who are supported by the advanced resources of its major teaching hospital.
Temple University Hospital-Episcopal Campus
The Episcopal Campus is the main location for Temple University Hospital’s behavioral health services, including a 118-bed Behavioral Health Center and an emergency Crisis Response Center. The campus is also home to a full-service Emergency Department that treats more than 45,000 patients annually, a 21-bed inpatient unit, primary care and specialty physician offices and state-of-the-art radiology services.
Temple University Hospital-Northeastern Campus
The Northeastern Campus of Temple University Hospital offers high-quality health care services in a patient-friendly setting. Located on Allegheny Avenue in the heart of Port Richmond, TUH-Northeastern Campus is home to a number of services offered by TU Jeanes Hospital.
For almost 85 years, Jeanes Hospital has combined excellence in healthcare with a compassionate, personal touch. Jeanes offers state-of-the-art medical, surgical and emergency services, providing patients with the comfort and convenience of a community hospital along with the resources of a downtown academic medical center. The experienced doctors and dedicated staff are focused on offering patients access to the latest treatments and diagnostics, while never losing sight of the hospital’s dedication to serving and caring for the surrounding community.
Temple Fox Chase Cancer Center
Fox Chase Cancer Center (“FCCC”) is part of TUHS and is one of the leading cancer research and treatment centers in the United States. Founded in 1904 in Philadelphia as one of the nation’s first cancer hospitals, FCCC was among the first institutions to receive the National Cancer Institute’s prestigious comprehensive cancer center designations in 1974. Fox Chase physicians and researchers are frequently involved in setting new guidelines for breakthrough medicine and comprehensive care. FCCC researchers have won the highest awards in their fields, including two Nobel Prizes. FCCC physicians are routinely recognized in national rankings, and FCCC’s nursing program has achieved Magnet status for excellence three consecutive times. FCCC conducts a broad array of overseas programs in cancer prevention, detection, survivorship, and community outreach. An agreement is pending with Jefferson Health System in Philadelphia to acquire Fox Chase Cancer Center.
Temple Health Satellite Locations
Temple Health is rapidly expanding its footprint for outpatient services – both in Philadelphia and its surrounding suburbs. Several facilities are open including one in Oaks, Ft. Washington, Elkins Park and Center City. Patients across the region can now access Temple doctors in their own neighborhood for services such as orthopedics, pulmonology, gastroenterology, urology, cardiology and much more.
Lewis Katz School of Medicine at Temple University (LKSOM)
Founded in 1901 as Pennsylvania’s first co-educational medical school, the Lewis Katz School of Medicine has attained a national reputation for training humanistic clinicians and biomedical scientists. The school attracts students and faculty committed to making a difference in patient care, research, education and public service - at home and across the globe.
The School of Medicine and Temple University Hospital, its chief clinical training site, provide care for patients from throughout the region seeking advanced tertiary and quaternary-level care. In addition, TUH serves one of the most vulnerable populations in the national, providing more free and under-reimbursed care than any other hospital in Pennsylvania.
With clinical training sites that include other member hospitals and specialty centers of the Temple University Health System and educational affiliates of the School of Medicine, medical students gain experience in a variety of urban, suburban, and rural in-and-out-patient settings. They learn to provide culturally competent, interprofessional care to a diverse population of patients with simple conditions as well as highly complex ones.
The Lewis Katz School of Medicine is a school that values not just technical excellence but diversity, equity and inclusion. It teaches the true art and science of “doctoring.” Moreover, its educational strategic plan, “Improving Health Through Innovation in Medical Education,” keeps pace with new medical knowledge and emerging trends in care delivery.
LKSOM’s home base in Philadelphia is a spectacular 11-story, 480,000 square-foot medical education and research building that features state-of-the-art facilities and technologies for medical education and research that opened in 2009. With specialized research centers focused on population health, metabolic disease, cancer, heart disease and other strategic priorities, LKSOM conducts groundbreaking research while training future generations of researchers to follow suit. On October 13, 2015, Temple’s medical school was officially dedicated as the Lewis Katz School of Medicine – an historic milestone in the School’s history.
There are 20 clinical departments in the Lewis Katz School of Medicine at Temple University, comprised of over 550 full-time faculty, 50 part-time faculty, over 800 volunteer faculty and more than 1,000 employees. Each takes pride in the excellence of its teaching, service and research programs. The School remains fully accredited by the Liaison Committee on Medical Education. Each year it admits 210 medical students and approximately 24 graduate students. Based on its level of funding from the National Institutes of Health, LKSOM is the second-highest ranked medical school in Philadelphia and the third highest in Pennsylvania. With more than 13,000 alumni, Temple represents a huge proportion of the physician base in the Delaware Valley. Reflecting the excellent quality of a Temple medical education, its MD graduates are highly regarded by competitive residency training programs and have made significant career contributions to both medical practice and medical research. Many have become department chairpersons, deans and vice presidents of major academic medical centers.
Faculty members at the Lewis Katz School of Medicine at Temple University are well known as gifted teachers and innovative researchers, but it is their clinical expertise that draws patients from throughout the Philadelphia region and beyond. Widely respected for their knowledge and skill, Temple physicians treat hundreds of thousands of patients each year in a variety of inpatient and outpatient settings throughout the Temple University Health System.
Temple has invested in new clinical programs, technology and facilities in recent years. The School of Medicine has also recruited renowned physicians from around the country who have enhanced Temple’s capacity to expand its clinical mission well beyond its traditional boundaries. This growth and dynamism are transforming Temple from a leading Philadelphia academic medical center into a nationally renowned, top-tier medical institution.
Each year, dozens of Temple physicians are named “Top Doctors” by national and regional publications. In addition, Temple physicians are also involved in numerous clinical trials that are testing the latest therapies. This means Temple patients often have access to advanced treatment options not found at most hospitals.
Accessing Temple care is easier than ever, thanks to a geographic expansion that has brought Temple physicians and staff into Temple-affiliated hospitals, Center City Philadelphia and the suburbs of Oaks and Fort Washington. While this expansion is significant, it has not lessened Temple’s commitment to its economically challenged North Philadelphia community. Here, Temple serves as a safety-net hospital and the largest provider of healthcare for individuals who have little or no ability to pay for the services they need.
LKSOM Research Programs
The Lewis Katz School of Medicine has eight basic science departments and thirteen research centers, all of which focus on improving the human condition through cutting edge research and the education and professional development of its graduate students and postdoctoral fellows. Faculty is actively engaged in basic research and other scholarly activities designed to improve public health and strongly encourage residents to participate in scholarly activities as part of their training. LKSOM provides its faculty centralized access to equipment and the tools to conduct state-of-the-art research, enabling our basic science and clinical research centers to emerge as leaders in the industry.
To improve human health, scientific discoveries must be translated into practical applications. Such discoveries typically begin at “the bench” with basic research – in which scientists study disease at a molecular or cellular level – then progress to the clinical level or the patient’s “bedside.” Faculty in the School of Medicine’s basic science and clinical departments are committed to the goal of translation. Our basic scientists provide clinicians with new tools for use in patients and for assessment of their impact, and clinical researchers make novel observations about the nature and progression of disease that often stimulate basic investigations.
Located in the heart of an economically distressed and diverse urban area, Temple University Health System is acutely aware of the impact of the national systemic problems related to the lack of health equity and access to affordable, culturally responsive healthcare. In response, TUHS is committed to promoting health equity through education, care delivery and workforce development. TUHS recognizes that an environment enriched with persons from varied backgrounds working to address health disparity enhances scholarly work and the development of a culturally aware and responsive healthcare workforce.
The Temple University Health System values and embraces a diverse community reflected by individuals’ race, ethnicity, culture, gender, sex, sexual orientation, sexual identify, gender identify and expression, socioeconomic statues, language, national origin, religious affiliation, spiritual practice, mental and physical ability/disability, and age. In response to the needs of the local community and patient population, TUHS concentrates its recruitment and retention efforts on staff, residents and physicians who identify as Black/African American, Hispanic/Latino and/or educationally and economically disadvantaged, while also being intentional in its efforts to create an inclusive and welcoming environment for women and LGBT.
TUHS is committed to achieving a climate of inclusion that respects and affirms diverse backgrounds and life experiences. Excellence in all aspects of education, training, research, and care delivery can only be achieved when all staff, residents, physicians, community members and patients experience authentic connection and engagement, feel supported and are encouraged to participate and contribute to creating health equity.
COMPENSATION AND EQUAL OPPORTUNITY
Compensation arrangements are excellent and commensurate with both experience and achievement. Temple University Health System and Korn Ferry are Equal Opportunity/Affirmative Action Employers.
TUHS actively encourages applications and nominations for employment regardless of race, gender identity or expression, disability status, protected veteran status or sexual orientation. TUHS is committed to promoting an environment free from bias, inequity, and prejudice. TUHS’ definition of diversity includes, but is not limited to, the dimensions of race, gender, religion, nationality, age, disability, veteran status, ethnicity and real or perceived sexual orientation.
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.