At Houston Methodist, the Vice President (VP) Finance and Chief Financial Officer (CFO) position is responsible for the organization and management of all financial matters for more than one entity and to include but not limited to the operating budget, capital budget, academic budget, business analytics and maintenance of all financial reporting systems, in accordance with Houston Methodist's mission and ICARE values. This executive position works collaboratively and serves as a resource for the management team(s) to implement and monitor financial control, analysis, operating systems, and internal controls in a manner consistent with corporate policies, procedures, and compliance guidelines as well as generally accepted accounting principles, tax regulations, and existing federal and state laws. The VP Finance and CFO position is a professional demonstrating a track record of improving financial operating systems and processes as well as skills which include business acumen, strategic planning, decision-making in view of financial priorities and internal and external conditions, as well as leadership and interpersonal skills. This position is knowledgeable of social, economic, and regulatory issues affecting the health care system, and, in concert with other leaders, participates with management to plan, promote, and conduct organization-wide performance improvement activities. The VP Finance and CFO position is part of the organization's governing, decision-making, and strategic-planning body, participating in preparation and presentation of issues to the Board of Trustees and Medical Executive Committees when needed.

This position reports directly to the EVP and CFO of the system and to the Entity CEO leadership in the organization and has responsibilities which include providing management and oversight of multiple areas and entities, and driving Houston Methodist's mission, vision, values, and commitment to excellence. Demonstrating a proven record of successful strategic planning, developing long-range goals and implementation, this position manages a diverse, interprofessional team, collaborating with stakeholders to achieve mutual goals. Directly and indirectly overseeing management staff with the goal of enhancing professional development and personal growth, this position forms and leads internal teams, providing training and mentorship as needed. This position collaborates with all senior leadership to meet the organization's objectives, ensuring operational initiatives are implemented, setting business goals, and solving internal issues when needed. Responsible for the assigned areas' policy and procedure development, revision, and implementation. This position is also accountable for employee engagement, adequate staffing levels, budget development and compliance, to ensure a safe and effective work environment. This position ensures compliance with ethical and legal business practices and accreditation/regulatory/government regulations.

PATIENT AGE GROUP(S) AND POPULATION(S) SERVED
Refer to departmental "Scope of Service" and "Provision of Care" plans, as applicable, for description of primary age groups and populations served by this job for the respective HM entity.

HOUSTON METHODIST EXPERIENCE EXPECTATIONS

• Provide personalized care and service by consistently demonstrating our I CARE values:
  • INTEGRITY: We are honest and ethical in all we say and do.
  • COMPASSION: We embrace the whole person including emotional, ethical, physical, and spiritual needs.
  • ACCOUNTABILITY: We hold ourselves accountable for all our actions.
  • RESPECT: We treat every individual as a person of worth, dignity, and value.
  • EXCELLENCE: We strive to be the best at what we do and a model for others to emulate.

• Practices the Caring and Serving Model

• Delivers personalized service using HM Service Standards

• Provides for exceptional patient/customer experiences by following our Standards of Practice of always using Positive Language (AIDET, Managing Up, Key Words)

• Intentionally collaborates with other healthcare professionals involved in patients/customers or employees' experiential journeys to ensure strong communication, ease of access to information, and a seamless experience

• Involves patients (customers) in shift/handoff reports by enabling their participation in their plan of care as applicable to the given job

• Actively supports the organization's vision, fulfills the mission and abides by the I CARE values

PEOPLE ESSENTIAL FUNCTIONS

• Provides direction to management team to enable the effective and efficient completion of objectives. Gives timely guidance and feedback to direct report management to strengthen their specific knowledge/skill areas needed for progression. Holds direct reporting management team accountable for the development of staff to meet overall objectives in terms of quality, service and cost-effectiveness.

• Identifies opportunities and takes action to build strategic relationships between one's area and other departments to achieve business goals. Works collaboratively with stakeholders to foster a climate of open communication and mutual problem-solving.

• Develops efficient organizational structures within scope of assignment. Provides leadership for management team to maintain a competent and engaged employee group and provides recognition/commendations to achieve desired outcomes. Drives initiatives to meet or exceed threshold goal for department turnover and/or system metrics on employee engagement indicators.

• Provides consultative support to executives for planning initiatives through financial and management information analyses, reports, and recommendations and seeks input on how to improve cost and revenue management processes.

• Collaborates with legal and compliance teams to structure physician contracts that align with organizational and regulatory requirements.

• Collaborates with executive leadership to prepare and implement budgetary recommendations. Reports the level of resources utilized in service delivery and determines the appropriateness of resource consumption.

SERVICE ESSENTIAL FUNCTIONS

• Develops and implements strategic and operational/high-level projects and processes. Sets clear goals, priorities and objectives for the direct report management team. Oversees multiple departments' operations and designated projects to ensure that goals or objectives are accomplished within the prescribed time frame, providing guidance to management team to ensure the best possible delivery of service and high customer/patient satisfaction.

• Drives HM service standards and activities to impact system score for patient/customer-based satisfaction, through role modeling and fostering accountability. Responsible for the overall successful operation of the direct report management team.

• Drives collaboration across the organization to identify needs and develop scalable solutions. Prioritizes objectives and implements strategies to achieve organization initiatives as part of the executive leadership team. Delegates responsibilities to direct report management, providing guidance and direction, as appropriate.

• Develops and implements physician compensation models, including productivity-based, value-based, and hybrid incentive structures.

• Partners with Entity CEO or EVP and other management in development of long and short-term hospital operations plans to include service demand analysis, resource availability analysis and cost benefit analysis of proposed capital acquisitions and staff expansions.

• Interfaces with System's purchasing and materials management functions to ensure that the procurement of the Hospital's goods and services are in accordance with System policies and procedures (e.g., goods and services are purchased on System contracts, levels of authority are adhered to, etc.).

• Ensures processes to inventories (e.g., Operating Room, Pharmacy, etc.) are managed at appropriate levels and has processes in place to limit shrinkage and losses due to obsolescence.

QUALITY/SAFETY ESSENTIAL FUNCTIONS

• Reviews levels of service and significant trends that impact the effectiveness of delivering patient care, critical operational objectives, or other key components within the organization. Ensures that management teams are conducting root cause analyses, as appropriate. Proactively guides management to identify prevention/risk avoidance opportunities and implements continuous improvement plans.

• Monitors and ensures organizational compliance with federal, state and local safety and environmental regulations and standards as well as accreditation requirements. Ensures direct report management monitors and/or revises the departments' safety plan and/or any specific accreditation/regulatory required safety guidelines.

• Proactively approaches the optimization of safe outcomes and information systems by monitoring, improving and enhancing operations, identifying solutions via collaboration. Oversees the implementation of process improvements, utilizing tools such as lean and change management principles. Role models situational awareness, using teachable moments to improve safety.

• Works collaboratively with department operations, case management, as appropriate, and quality management to obtain and maintain the highest levels of quality, safety, patient satisfaction, and operational efficiency and effectiveness.

• Ensures physician compensation models comply with Stark Law, Anti-kickback Statutes, and FMV regulations.

FINANCE ESSENTIAL FUNCTIONS

• Ensures departments' annual operational and capital budgets align with organization's strategic plan and consistent with executive leadership, System CFO and Corporate guidelines. Uses benchmark data to support performance, costs, and return on investment.

• Drives the maximization of efficiency and productivity. Leverages relationships with vendors and partners to obtain contracts that support cost-efficient operations and maintenance.

• Allocates financial, information, and human capital for improvement activities, ensuring efficient delivery of cost-effective and efficient services to patients, physicians, and hospital departments. Educates patient care team leaders on financial implications of patient care decisions.

• Evaluates profitability of lines of business and cost-effectiveness of hospital programs and recommends appropriate changes.

• Monitors viability/cost-effectiveness of contracts; ensures competitive purchases and contracts; rebids work as needed.

• Implements productivity reporting tools for real-time evaluation of staffing and productivity.

• Oversees activities of hospital-based front-end revenue cycle departments and interfaces with applicable corporate departments to ensure that revenue cycle is run efficiently and effectively across the entire organization. Ensures all charge-capture is done as efficiently and effectively as possible.

• Contributes to the preparation of internal financial reports. Ensures the timely and accurate preparation of financial reports and ensures that the reports reliably reflect the financial position of the entity. Works with Corporate Accounting VP to ensure timely and accurate financial reporting.

GROWTH/INNOVATION ESSENTIAL FUNCTIONS

• Develops long-range goals and strategic plans. Deploys data and research to drive cross-business organization prioritization.

• Maintains acute awareness of market and industry trends. Implements innovative solutions for practice or workflow changes to improve system operations. Represents HM at community or professional organization meetings.

• Drives change initiatives, maintaining effectiveness when experiencing major changes in work responsibilities or environment; adjusts effectively to work within new work structures, processes, requirements or cultures.

• Initiates and executes succession plans. Conducts conversations with direct report management on the My Development plan.

• Systematically scans the external environment for changes that have implications for financial operations of the organization.

• Gains organizational support for changing initiatives and sustaining that support through prolonged timelines for system-level changes.

• Utilizes data-driven decision making-to assess service line profitability and financial impact of physician compensation models.

This job description is not intended to be all-inclusive; the employee will also perform other reasonably related business/job duties as assigned. Houston Methodist reserves the right to revise job duties and responsibilities as the need arises.

EDUCATION

• BS/BA in accounting or finance

• Master's degree in finance, accounting, business management or related field preferred

WORK EXPERIENCE

• Eight years of healthcare financial leadership experience or equivalent experience, with a focus on hospital finance, physician compensation, and/or multi-entity management. May consider current HM employee with six years management experience in healthcare

• Leadership experience to include accountability over multiple operational areas with a successful track record of strategic planning, change management, operational integration within a system, financial management, and community involvement

• Executive or senior leadership experience preferred

LICENSES AND CERTIFICATIONS - REQUIRED

• N/A

LICENSES AND CERTIFICATIONS - PREFERRED

• Fellow of American College of Healthcare Executives (ACHE) AND
• CPA - Certified Public Accountant - State Licensure

KNOWLEDGE, SKILLS, AND ABILITIES

• Demonstrates the skills and competencies necessary to safely perform the assigned job, determined through ongoing skills, competency assessments, and performance evaluations

• Sufficient proficiency in speaking, reading, and writing the English language necessary to perform the essential functions of this job, especially about activities impacting patient or employee safety or security

• Strategic vision with the ability to execute

• Demonstrated leadership presence and maturity

• Impeccable judgment and ability to make sound decisions in a fast-paced, dynamic setting

• Executive-level presentation skills and ability to interface successfully with high-level clients

• Demonstrates the ability to interact with others in a way that gives them confidence in one's intentions and those of the organization

• Ability to use appropriate interpersonal styles and techniques to gain acceptance of ideas or plans; modifying one's own behavior to accommodate tasks, situations and individuals involved

• Demonstrates leadership qualities and critical thinking through self-direction initiative and effective interpersonal skills and oral/written communication skills

• Ability to identify and understand issues, problems and opportunities, comparing data from different sources to draw conclusions; using effective approaches for choosing a course of action or developing appropriate solutions; takes action that is consistent with available facts, constraints and probable consequences

• Extensive knowledge of regulatory and accreditation agency requirements that impact department; stays abreast of industry changes

• Demonstrates flexibility, adaptability, and comfort living in ambiguity; able to provide strong leadership during times of change

• Capable of leading teams/facilitating groups, building consensus and garnering highest confidence in professionalism and work product by senior leadership

• Ability to work under pressure and balance many competing priorities; highly responsive and solution/action oriented

• Proficiency in spreadsheet, word processing, and presentation software

• Maintains a positive and supportive attitude and demeanor

• Professional handling of exposure to confidential/sensitive information

• Possesses the vision and the sensitivity to sustain a cultural transformation process consistent with the mission and values of Houston Methodist

• Demonstrated ability to lead others to common organizational goals and objectives and able to mentor and develop others in the organizations to foster positive employee engagement

• Ability to inspire and motivate others, while promoting the mission and vision of the organization and related capacities and abilities

• Ability to hold people accountable to achieve objectives and have crucial conversations when appropriate with key stakeholders

• Strong understanding of CMS and Managed Care regulations

• Excellent understanding and application of generally accepted accounting principles with the utmost of integrity and ethics

• Membership in Healthcare Financial Management Association (HMFA) or similar association preferred

SUPPLEMENTAL REQUIREMENTS

WORK ATTIRE

• Uniform No
• Scrubs No
• Business professional Yes
• Other (department approved) No

ON-CALL*
*Note that employees may be required to be on-call during emergencies (ie. DIsaster, Severe Weather Events, etc) regardless of selection below.

• On Call* Yes

TRAVEL**
**Travel specifications may vary by department**

• May require travel within the Houston Metropolitan area Yes
• May require travel outside Houston Metropolitan area Yes

Houston Methodist (HM) is one of the nation’s leading health systems and academic medical centers.  HM consists of eight hospitals: Houston Methodist Hospital, its flagship academic hospital in the heart of the Texas Medical Center, and seven community hospitals throughout the greater Houston metropolitan area.  HM also includes an academic institute, a comprehensive residency program, a global business division, numerous physician practices and several free-standing emergency rooms and outpatient facilities.  Overall, HM employs over 25,000 employees.   Houston Methodist is supported by a wide variety of business functions that operate at the system level to help enable clinical departments to provide the best patient care and service in a spiritual environment.

 

In 2019 Houston Methodist and its physicians treat more than 6,333 international patients from more than 76 countries. Houston Methodist Global Health Care Services’ consulting and education divisions also provide advisory services and training and development to health care organizations around the world.