Chief Financial Officer

Chief Financial Officer (CFO)

Wooster Community Hospital is an independent, medium sized community hospital proud to have been named a 9-time PINC Top 100 Hospital. We are seeking a member of our 6-person Senior Leadership Team.

As a municipally owned hospital, WCH offers the following benefits for our amazing employees:

• Competitive Compensation package including OPERS (Ohio Public Employee Retirement System)
• Annual Gainsharing-our success is your success!
• Competitive market wages
• Vacation, sick and holiday hours
• Comprehensive benefits package—medical, dental, Rx, vision, life, disability, accident, critical illness, tuition assistance, employee assistance program

The City of Wooster is a one-of-a kind college town that takes pride in “living local” with a thriving small-town culture with local businesses and a variety of non-profit organizations. The city is easily accessible to Akron, Cleveland, and Columbus and has been named in “best small cities in Ohio and America” several times. For more details on our city, please visit https://www.woosteroh.com/welcome-wooster

MAIN FUNCTION:

To coordinate and lead the Wooster Community Hospital Health System’s financial and functional decision-making processes necessary for the successful attainment of the health system’s mission in collaboration with the Wooster Community Hospital senior leadership team and in support of the Wooster Community Hospital Board of Governors.

Responsible for the following departments/operations: Accounting, Patient Financial Services, Utilization Management, Health Information Systems, Registration, Communications, Materials Management, Risk Management, and other support departments as assigned by the CEO. In addition, under the leadership of the CFO, accounting services and financial oversight are provided for Wooster Community Hospital Foundation, Bloomington Medical Services and Wayne Network.

RESPONSIBLE TO: Wooster Community Hospital Health System CEO

MUST HAVE REQUIREMENTS:

• Bachelor’s degree in accounting or finance with strong knowledge of generally accepted accounting principles.
• Minimum of five (5) years CFO level or equivalent experience in an acute care hospital environment.
• Sufficient knowledge of overall hospital operations at a level to provide leadership, in conjunction with other senior leaders, in the absence of the CEO.
• Strong interpersonal and organizational skills.
• If internal, no written disciplinary action with the last 12 months.

PREFERRED ATTRIBUTES:

• CPA and/or Master of Business Administration.
• Prior CFO level or equivalent experience being with a stand-alone, not-for-profit, acute care hospital / health system.
• Follows Appropriate Service Standards.

POSITION EXPECTATIONS:

• Evaluates, devises, and directs the installation of new or modified accounting systems to provide complete and accurate records of hospital assets, liabilities, and financial transactions.
• Supervises the preparation of the capital, salary and wage, and operating budgets of the health system to include revenue forecasting. Presents to applicable board committees and boards, including Hospital, Wooster Community Hospital Foundation and Bloomington Medical Services, and City Council, the annual capital and operating budgets.
• Assists the CEO in the identification and development of strategic plans for new services that generate additional sources of profitable revenue – contributing financial expertise include analysis of service demand, resource availability, and project feasibility. Implementation support / project management provided as requested or needed.
• Reviews, monitors, interprets, and analyzes monthly financial statements, statistics, and provides such information to the CEO. Presents the monthly financial statements to the Finance Committee and Board of Governors ensuring Board understanding of the system’s financial performance and position as well as communication of any key issues and status of plans to correct / address such issues.
• As part of financial analyses, CFO trends key financial metrics, compares them to industry benchmarks, investigates unfavorable trends and comparisons, develops actions to address unfavorable findings, and monitors action plan(s) to completion.
• Reviews all contracts affecting the financial obligations of the institution and serves as the financial advisor in matters relating to contract negotiations dealing with rate setting with government agencies and insurance companies.
• Ensures the health system meets necessary financial regulatory and compliance requirements and assures that adequate financial records and reports are submitted to authorized government agencies to include Medicare, Medicaid, applicable taxing entities, and other as directed.
  
• Keeps up to date with all federal statutes surrounding participation in the Medicare and Medicaid programs, including, but not limited to: EMTALA, Medicare fraud and abuse issues, Stark legislation, and IRS guidelines pertaining to the operation of not-for-profit, governmental hospitals.
  
• Develops and maintains a good working rapport with departments within the facility to assure financial goals and objectives are being met to maximize resources used in maintaining the needs of the patients.
  
• Represents the Wooster Community Hospital Health System in dealing with outside agencies, including government agencies, third party payers and other community groups in coordination with CEO.
  
• Represents the facility at, and participates in, top level meetings as required by the Wooster Community Hospital Health System CEO.
  
• Interacts with the medical staff for capital asset requests and purchases and other financial matters as directed by the CEO.
  
• Reviews and authorizes the purchase of all major capital expenditures as approved by the CEO and the Board of Governors.
  
• Coordinates with the Director of Finance (City of Wooster) on fiscal and accounting matters that affect municipal government.
  
• Participates and assists in departmental studies and projects that promote cost containment efforts and expansion of activities of hospital revenue areas to enhance the hospital's financial viability.
  
• Attends and participates in workshops, seminars, etc., to keep abreast of current changes in the health care field, as well as to maintain a professional status.
  
• Serves on committees within the institution as directed by the CEO.
  
• Performs duties and responsibilities that may become necessary or as directed by the CEO.
  
• Integrates the department/service into the primary functions of the organization.
  
• Coordinates and integrates interdepartmental and intradepartmental services.
  
• Develops and implements policies and procedures that guide and support the provision of services.
• Recommends sufficient numbers of qualified and competent persons to provide care/service.
• Determines the qualifications and competence of department/service personnel. Completes employee evaluations in a timely manner.
• Orients and continually educates all persons in the department/ services.
• Maintains quality control program, as appropriate.
• Participates in the hospital’s monthly operation reviews (MOR’s) with the Ovation Healthcare support team keeping the Ovation team aware of all key operational and financial developments.
• Collaborates with CEO and Bloomington Medical Services Chief Operating Officer regarding the management, fiscal reporting and contracting for Wooster Community Hospital Foundation, Bloomington Medical Services and Wayne Network.
• Monitors hospital compliance within the HealthTrust GPO working closely with the Wooster Community Hospital Materials Management Director and the Ovation Elevate (supply chain) team to maximize savings.
• Demonstrates leadership in Process Improvement goals promoting the use of the DMAIC process.
• Demonstrates support for employee involvement in P.I. education and in P.I. teams both on department and hospital level.
• Leads or participates in multidisciplinary PI teams improving Wooster Community Hospital processes.
• Assesses unit/department for processes to measure and improve and aligns these processes with the unit/department and the Wooster Community Hospital mission.
• Collects and analyzes data on processes identified in the P.I. assessment above.
• Prioritizes the improvement opportunities from the data collected and analyzed.
• Plans and implements improvement using DMAIC methodology.
• Communicates all steps of the P.I. process with staff and department leaders.

Revised Dates: 10/98, 5/99, 7/99, 2/00, 12/01, 3/02, 8/03, 2/05, 7/19, 2/20, 1/2024

Approved by Human Resources: Tina Myers, Vice President, Human Resources