Vice President of Finance

Vice President Of Finance And Value-Based Care

Large, multi-specialty medical practice group

Louisville, Kentucky

The Company

As a network of more than 300 points of care, including over 1,600 employed physicians and advanced practice clinicians across Kentucky, Illinois, and Southern Indiana, we represent more than 75 specialty areas. Our focus is on primary care and family medicine, internal medicine, osteopathic medicine, emergency medicine, general surgery, and a wide range of surgical specialties offers advanced treatment and care.

Your role as Vice President of Finance and Value-Based Care will have a significant impact on our ability to provide these services.

Scope of the Job

Vice President of Finance and Value-Based Care will be located at corporate Headquarters in Louisville, KY and will report to the System Chief Financial Officer with a dotted line to the system Chief Health Integration Officer. The Vice President of Finance and Value-Based Care (including Home Care), has responsibility for the financial management, reporting, budgeting, strategic financial planning, provider compensation, coding, and revenue cycle, including professional medical billing, revenue integrity, accounts receivable operations, coding education, workflows, and rural health management.

The successful candidate will possess excellent verbal and written communication skills along with the ability to collaborate effectively with leaders across the system in a dynamic healthcare environment. Also, with the system's Chief Financial Officer, the incumbent will contribute to the building of long-range financial plans and the implementation of strategies to achieve the operating and financial targets.

As the most senior finance leader within the medical group, the Vice President of Finance and Value-based Care will lead the development of the financial dashboards, which are appropriate for end users across the system. Financial management of the medical group will require proficiency in physician compensation models, working knowledge of wRVUs and professional fee reimbursement, as well as subject matter expertise in the MGMA physician compensation and cost survey(s) to be used for external benchmarking.

The Vice President of Finance and Value-Based Care, working collaboratively with the system support and individual market finance teams, will develop, implement, and ensure compliance with financial and accounting policies and procedures.

In collaboration with System revenue cycle leaders, the Vice President of Finance and Value-Based Care is responsible for the development of revenue cycle best practices and key performance metrics targets (which includes management of the day-to-day functions to ensure accurate and timely patient and payor billing, clinical coding, collections and analysis of patient accounts receivable) with the goal of improving net revenue and cash flow through optimal management of accounts receivables and coding.

By providing effective leadership, direction, and management of these areas and the integrity of their work product, the Vice President of Finance and Value-Based Care will support the system's mission and vision, as well as the organizational goals of the Medical Group, the ACO/CIN, and Home Care.

Responsibilities Include:

Financial Planning & Analysis

• Analyze new and existing services for financial viability
• Analyze and assist in the development of business plans for new and replacement physicians and APCs
• Ensure the appropriateness and integrity of financial projections used in all physician employment and/or practice acquisition transactions
• Oversee Value-Based Care performance results related to the ACO, CIN, and Home Care
• Continually monitor investment by practice, physician, market, and region
  - Recommend action plans to improve physician and practice financial performance.
• Benchmark staffing per practice to help ensure appropriate staffing level
  - Engage in Position Control
• Analyze, develop, monitor, and lead financial improvement initiatives

Financial Management and Reporting

• Coordinate preparation of annual operating and capital budgets
• Report financial performance by physician, practice, specialty, market, region in practice format
• Prepare and update cost allocation methodology on practice and group level
• Ensure revenue management, production, financial, accounts payable, payroll, and budget reports are prepared and distributed timely
• Present annual budget to the Board and Board committees
• Provide leadership in presenting monthly performance to and with leadership in all markets and all entities
• Present monthly financial performance updates to the Board, Board committees, and management committees

Provider Compensation

• Administer compensation plan, including incentive payments
• Coordinate with the Physician Integration team to ensure compensation is paid per contract
• Ensure work RVUs are adjusted according to policy for reporting and compensation purposes
• Relate to providers on compensation payments and production…