Finance Director

Description

• POSITION TITLE: Finance Director
• REPORTS TO: Founder
• DEPARTMENT: Executive
• TIME STATUS: Full-time

POSITION SUMMARY

The Finance Director is a strategic leader responsible for overseeing the financial operations of a fast-growing multi-clinic practice specializing in wound care and wellness services, including IV therapy and annual physicals. With a varied payor mix of commercial, Medicare, and cash-pay patients, this role is critical to ensuring the financial health, compliance, and growth of the organization. The Finance Director will manage budgeting, financial reporting, forecasting, billing, revenue cycle management, and collections across multiple locations with approximately 50 employees in two states.

Duties & Responsibilities

Financial Management Develop and implement financial policies, procedures, and controls to ensure accuracy, compliance, and accountability.

Prepare, manage, and oversee the annual budget process in collaboration with the CEO and department heads. Conduct financial forecasting and develop strategic plans to support business goals and expansion efforts. Oversee end-to-end revenue cycle management, ensuring accuracy and efficiency in billing, coding, claims submission, and collections processes to maximize revenue and reduce denials and outstanding receivables.

Reporting & Compliance Prepare timely and accurate financial reports, including balance sheets, income statements, and cash flow analysis. Ensure compliance with all regulatory requirements and reporting standards, especially regarding Medicare billing and reporting. Coordinate with external auditors and oversee annual audits, responding to findings and implementing corrective actions as necessary.

Revenue Cycle Management Oversee billing, coding, and collections processes, ensuring accuracy in claims submissions and timeliness of collections. Monitor key performance indicators (KPIs) for the revenue cycle, such as days in accounts receivable (A/R) and collection rates, to identify areas for improvement. Work closely with clinical staff and administrative team members to streamline and optimize billing workflows, especially with the diverse payor mix.

Cash Flow & Financial Planning Manage cash flow to ensure adequate liquidity for operational needs and planned investments. Develop strategies for optimizing revenue, managing expenses, and ensuring profitability across all service lines and locations. Conduct financial analysis to identify trends, potential risks, and areas for cost savings.

Strategic Leadership Partner with the CEO and executive team to drive financial strategy and support decision-making for business expansion and investment. Provide leadership, guidance, and support to finance and accounting team members. Foster a collaborative environment, working with department heads to support financial literacy and budget accountability.

Risk Management Develop and implement a robust risk management strategy, including insurance and financial risk assessments. Ensure internal controls are in place and effective, especially regarding billing, payroll, and cash management. Collaborate with legal and compliance teams to mitigate financial risks associated with regulatory and operational activities.

Requirements Required Qualifications

Education

Bachelor’s degree in Finance, Accounting, or related field required; CPA or MBA strongly preferred.

Experience

Minimum of 5-7 years of progressive experience in financial management, ideally within a healthcare or multi-location clinical practice setting. Proven experience managing diverse payor mixes, including Medicare, commercial insurance, and cash payments.

Skills

Strong understanding of revenue cycle management, especially in a healthcare context. Proficiency in financial software, billing systems, and Microsoft Office Suite. Excellent analytical, problem-solving, and decision-making skills. Ability to communicate complex financial information clearly and effectively to non-financial stakeholders. Leadership qualities with a strong ability to manage, develop, and inspire a finance team.

Preferred Attributes

Knowledge of wound care, IV therapy, and/or wellness service lines. Experience in a multi-state practice environment. Familiarity with healthcare compliance and regulatory standards, especially concerning Medicare and commercial billing.