Job #711: Chief Financial Officer - NY/Philadelphia Region (3-7-18)
- Job Title: Chief Financial Officer
- Location: NY/Philadelphia Region
- Salary: Open
As a management services organization (MSO), the Company delivers solutions to provider groups, helping foster self-sufficiency by maximizing fee-for-service payments, transitioning them to value- based programs, and preparing them for risk. The Company also collaborates with payers to help drive value- based adoption among providers and improve the health outcomes of patients.
More than 1,500 primary care physicians, specialists, and nurse practitioners in over 400 private practice and hospital affiliated settings depend on the Company's clinical, technology, and business experts to develop customized management and technology-enabled solutions to meet their unique needs. Provider groups who engage the company discover new ways to improve quality of care, enhance patient access and lower the overall cost of care.
The Company combines a commitment to best practices and evidence-based quality to elevate its clients’ business and clinical processes. The Company also arms its clients with the additional competencies needed to thrive in practice as the industry shifts from fee-for-service payment models to value-based care. The Company’s managed services include:
- Performance Solutions (RevenueCycleManagement):Physician- and patient-focused revenue cycle management services designed to increase efficiency and create a foundation for overall financial growth for organizations.
- Integrated Care Solutions (Value-BasedCare):An end-to-end suite of value based services focused on enhancing practices’ capabilities to monitor and manage patient population health, drive value based care adoption among providers, and develop collaborative payer-provider programs that move providers to risk.
- SpecialtyCare Solutions: Patient engagement, and procedure preparation and navigation aimed at enhancing specialty practice performance.
- Customer Business Solutions (Practice Management): Outsourced practice support services including technology support, call center management, training, HR, payroll, finance and accounting, purchasing, marketing, compliance and more to improve practice efficiency and allow providers to focus on patient care.
Over the past several years, the company has made multiple acquisitions in the industry. In January 2017, the Company acquired a controlling interest in an independent provider network and healthcare management company. This investment enables advanced development and delivery of population health services to the regional market. The Company has leveraged combined population health resources to focus on improving quality and reducing the total cost of care for providers, payers, and patients. In June 2017, the Company also acquired a controlling interest in a platform for delivering the appropriate educational materials to patients from the time they make their appointment through post-procedure care. The Company is backed by prominent Private Equity investors.
The Company has committed to recruiting an outstanding finance executive to serve as the Company’s Chief Financial Officer during a critical period of the Company’s evolution. The CFO will report to the Company’s Chief Executive Officer, and working closely with the Board of Directors, will be a strategic and operating partner to each in managing the Company’s aggressive growth plans. The primary, short to medium term priority for the Chief Financial Officer will be to enhance and expand the finance team, implement business processes and an infrastructure capable of supporting another great leap forward for the Company. The CFO will be responsible for directing the Company’s finance group and for influencing and synchronizing related operating and systems functions to ensure the achievement of business plans; the successful and profitable consolidation of rapid growth; the accurate and transparent measurement of the Company’s performance at a granular level; and the identification of business risks and opportunities. The successful candidate will oversee financial management, general accounting and control, reporting, treasury, strategic planning, underwriting and corporate development/M&A. As business partner to the senior management team, the CFO will be expected to develop long-term financial plans and strategies, make Board presentations, and recommend on-going improvements across the Company. The CFO will also be expected to coach senior and middle managers in driving financial discipline while optimizing the positive aspects of the Company’s current systems and culture.
The CFO’s primary charter is to establish financial, analytical, and procedural infrastructure which can support, consolidate, and encourage dramatic business growth. The CFO will be looked to for leadership in institutionalizing a culture that is comfortable taking well-considered business risks while ensuring that a consistent and disciplined framework exists for sound financial analysis and decision-making. The CFO will be expected to continually translate the Company’s vision, resources, and market realities into financial model with a high degree of transparency for both internal and external constituents. It is expected that the successful CFO candidate will be a high energy, hands-on, and seasoned executive who not only can, but prefers, to act as a team player. The CFO must be data-driven and intellectually curious, and will have experience working within a culture of seasoned, thoughtful, and passionate executives and employees. Ideally, the successful CFO candidate will have previous experience leading the financial operations of a private equity backed business or the division of a public company of similar scale, with a knowledge of reimbursement and the payer space.
Specifically, the Chief Financial Officer will be expected to:
- Immerse him/herself in the opportunity, including its current and potential markets. The CFO will conduct a thorough audit of the Company’s services, technology issues, operational priorities, potential partners, business development initiatives, ideas, and plans;
- Support the CEO, Board, and management team in achieving strategic and financial goals; proactively identify and implement required systems and processes to support rapid business growth without introducing undue bureaucracy;
- Institutionalize/reinforce a metrics-based culture, transparency, and business clarity across all functions within the Company; benchmark operational/financial systems “best practices”; develop/implement systems and procedures that support same;
- Ensure that the appropriate operational, business performance and sales/contracting measures are in place to capture and analyze financial information on the operations of the Company, and generate relevant reports to all levels of Company management;
- Allocate capital and resources efficiently, and set a cultural tone which infuses/re- enforces an accountability and ownership mentality into the DNA of all employees, vendors, and other relevant constituents;
- Provide the structure, processes, and standards for first-class financial/information systems across the Company that can be applied to the integration of acquisitions and the financial interactions with current and future partners;
- Assure a proactive integrated, disciplined, and “no surprises” approach to running the business;
- Manage all banking relationships and investor relations, working to enhance the Company’s visibility and credibility;
- As Corporate Treasurer, ensure the Company's cash management policy is appropriate in changing markets and adhered to by the Company's investment manager; ensure that the Company’s options plan is actively managed and that options pricing/valuation is updated regularly;
- Assist in corporate development activities including acquisitions, structuring customer and distribution relationships;
- Develop/enhance processes to meet statutory fiscal requirements, and maintain productive working relationships with state and federal regulators;
- Manage the availability of funds to meet the Company’s operating requirements; establish rapport with the Company’s customers to facilitate effective credit management;
- Establish investor confidence personally and in the business, and assert the Company’s value proposition, while demonstrating a realistic timetable for growth and an accelerated ramp-up in shareholder value;
- Manage and communicate capital and liquidity requirements/ implications of business decisions to senior management, functional executives, and private equity sponsors; develop liquidity analyses and cash flow projections;
- Build teamwork across the business; interact effectively with other parts of the Company; become a trusted thought partner for objective business guidance with the leadership team.
With at least 15-20 years of financial leadership experience, the successful candidate will have an informed understanding of the macro healthcare landscape, with a priority on, but not limited to, knowledge of the managed care/payer space. Ideally, the successful candidate will also bring provider-centric healthcare services and possibly HCIT experience. He/she will have depth in financial operations, and specifically direct, finance/operational experience within healthcare insurance actuarial and underwriting functions. Ideally, he/she will have managed in a private equity-backed company and understand the dynamics of value creation this connotes. The successful candidate may have been a CFO in a free-standing comparably positioned business; or led a division of a well-established public company. He/she will be able to point to a track record of clear and unequivocal success.
- Demonstrable, successful experience as Chief Financial Officer who has scaled a company in the middle-market space;
- Premium on those who have experienced/catalyzed a major ramp-up and have consolidated and optimized financial and operational challenges during a period of rapid expansion;
- The successful candidate may have a thorough knowledge of the healthcare payer sector as both an operator within it, and ideally also as vendor to it;
- Ideally, he/she will combine financial operating experience from within a large, sophisticated corporate and operationally intense environment with leadership of an emerging growth, private equity financed situation;
- The successful candidate should have meaningful experience working with leverage;
- Must have hands-on experience in all areas of financial operations including financial planning and analysis, treasury and banking, systems, and processes (accounting and revenue cycle software, etc.), M&A and corporate development, and underwriting;
- Must have strong leadership and people management skills, and be able to point to his/her development of strong teams and individual performers historically;
- A command of and comfort with technology and information systems - has the proven ability to manage an information-driven, service business as it scales;
- Success as a change agent working in a fast paced, growth environment; insight and value system to appreciate and leverage existing organizational advantages while driving significant change across the Company;
- Experience encompassing IPO success, SEC reporting and filing, building and managing relations with analysts, investment bankers, and with prospective institutional investors would be a plus;
- Creativity and strategic thinking; intellectual curiosity and excellent communications skills;
- An energetic, articulate, and mature executive with a broad-gauged business sense, bottom-line orientation, and the ability to function as a senior strategist and key member of the Company’s senior management team;
- Structured, linear thinker; strong intellectual capacity and quantitative skills;
- CPA, MBA preferred.
Ideal Personal Characteristics:
In addition to having a proven track record of financial, strategic, and operational accomplishments from relevant markets, the successful candidate will exhibit:
- Outstanding Leadership and Team Building. An executive with superior inspirational qualities who creates an atmosphere in which people work together enthusiastically and co-operatively to produce outstanding results; one who attracts top talent from outside the organization while developing strong teams within. He/she must be an "influencer" who can rally people around a common vision; a natural leader;
- “Equity”Mindset.The successful candidate will have a proven ability to pursue his/her objectives passionately with an ownership mentality and with a focus on the overall success of the Company and increasing shareholder value. He/she must be comfortable and confident when presenting to investors;
- Maturity and Independence. Someone who speaks with authority and leads rather than follows; A thoroughly honest and forthright individual who is up-front and direct with subordinates, peers, and the Board;
- A Focus on Execution. A player/manager and self-starter with a ”roll up the sleeves” mentality; someone who advances their team’s and the company agenda while working in concert with other groups.
- Nimble in the Face of Ambiguity and Adversity. Grounded realist who naturally adjusts to changing internal/external dynamics, priorities and challenge; Decisive; optimist/ “can-do” attitude.
Interested candidates should send email to: firstname.lastname@example.org. Please mention that you are a member of EisnerAmper's Friends of the Firm program. Make sure to copy Nkrumah Pierre, email@example.com, and Jennifer Rosener, firstname.lastname@example.org, on your email.