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Company:
The GW Medical Faculty Associates
Posted: June 29, 2024
About GW MFA
MFA physicians provide comprehensive patient care, offering one practice for the whole person with 52 medical and surgical specialties.
As members of the GW School of Medicine and Health Sciences faculty, MFA providers are teachers and mentors for medical students, residents, fellows, and researchers preserving the rich tradition of academics, research, and healing.
In addition to maintaining a closely integrated alliance with The George Washington University and The George Washington University Hospital (GWUH), separately owned and operated by Universal Health Services (UHS), the GW MFA has active referring relationships with 12 area hospitals.
The GW MFA's leading healthcare presence in the DC metro region is complemented by a network of community-based practices in DC, Maryland, and Virginia.
Given its geographic location in central NW Washington, DC, and proximity to more than 175 resident embassies, the MFA continues to evolve its international clinical outreach.
Position Summary
Reporting to the Chief Executive Officer of The GW Medical Faculty Associates (CEO), the MFA Chief Financial Officer (CFO) provides overall leadership and support of financial operations of GW's academic physician practice group known as the Medical Faculty Associates (MFA).
As the chief finance and budget leader for the MFA, the CFO has direct responsibility for leading complex operations, managing a team of staff as well as interfacing with partners at the George Washington University and affiliated clinical sites, including senior-level faculty and leadership to drive budget management excellence and financial performance results.
This role serves as the primary interface for local activities that are managed centrally overall, including budgeting, financial planning and analysis, cost management strategies, decision support, provider compensation plan administration, and information technologies supporting finance related functions, as necessary.
Essential Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Other duties may be assigned.
Specifically, major areas of responsibility across the following five dimensions will include:
Strategic Planning and Management
Financial Oversight
The CFO will be expected to apply skills, experience, acumen, and an understanding of the business of academic healthcare in all decision-making and strategic planning for growth, revenue enhancement, and expense rationalization, among others.This includes the following responsibilities:
Operational Oversight
Working closing with the CEO and various stakeholders, the /CFO manages the financial operations of the MFA to align with the fiscal and productivity guidelines established while ensuring adherence to all institutional and departmental policies.
This includes:
MFA physicians provide comprehensive patient care, offering one practice for the whole person with 52 medical and surgical specialties.
As members of the GW School of Medicine and Health Sciences faculty, MFA providers are teachers and mentors for medical students, residents, fellows, and researchers preserving the rich tradition of academics, research, and healing.
In addition to maintaining a closely integrated alliance with The George Washington University and The George Washington University Hospital (GWUH), separately owned and operated by Universal Health Services (UHS), the GW MFA has active referring relationships with 12 area hospitals.
The GW MFA's leading healthcare presence in the DC metro region is complemented by a network of community-based practices in DC, Maryland, and Virginia.
Given its geographic location in central NW Washington, DC, and proximity to more than 175 resident embassies, the MFA continues to evolve its international clinical outreach.
Position Summary
Reporting to the Chief Executive Officer of The GW Medical Faculty Associates (CEO), the MFA Chief Financial Officer (CFO) provides overall leadership and support of financial operations of GW's academic physician practice group known as the Medical Faculty Associates (MFA).
As the chief finance and budget leader for the MFA, the CFO has direct responsibility for leading complex operations, managing a team of staff as well as interfacing with partners at the George Washington University and affiliated clinical sites, including senior-level faculty and leadership to drive budget management excellence and financial performance results.
This role serves as the primary interface for local activities that are managed centrally overall, including budgeting, financial planning and analysis, cost management strategies, decision support, provider compensation plan administration, and information technologies supporting finance related functions, as necessary.
Essential Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Other duties may be assigned.
Specifically, major areas of responsibility across the following five dimensions will include:
Strategic Planning and Management
- Serves as the primary business advisor to the CEO;
- Works closely and in partnership with all MFA leadershipto enable high performance of the MFA across all missions;
- Actively partners and closely collaborates with key constituents to leverage opportunities and goals;
- Participates in the MFA's strategic planning efforts with the CEO, and executive leadership team.
- Collaborates with the MFA's internal and external key stakeholders to develop business plans, monitor operational results, and suggests alternative courses to meet financial expectations.
- Serves as a key participant in the assessment, design, and implementation of the MFA's strategies related to value-based, accountable care.
- Ensures that the organization fully understands the financial implications of these strategies and leads the development of financial operations to support these initiatives; and
- Collaborates with executives, administrators, academic, and clinical leaders (internally and externally) to develop opportunities for business innovations that enhance the effectiveness and efficiency of institutional management.
Financial Oversight
The CFO will be expected to apply skills, experience, acumen, and an understanding of the business of academic healthcare in all decision-making and strategic planning for growth, revenue enhancement, and expense rationalization, among others.This includes the following responsibilities:
- Plays an important role in facilitating funds flow between the GW SMHS, the MFA, and the GWU Hospital (GWU-H).
- Works collaboratively to lead the various financial activities including development of financial strategy, planning, projections, and budgets that focus on long-term fiscal sustainability.
- Develops models that respond to new financial or operational circumstances.
- Provides insightful analysis of financial results and forecasts that allow for informed decision-making and resource optimization.
- Assists in promoting a culture where faculty and staff understand their individual fiduciary roles and responsibilities.
- Exercises delegated authority with prudent assessment of individual transactions, considering the impact financially and operationally while being mindful of internal controls and setting the cultural tone.
- Directs the analysis and interpretation of financial information throughout the MFA.
- Balances short-term and long-term strategic objectives to maximize the MFA's financial performance.
- Oversees the monitoring and the reporting of MFA's financial performance to identify trends and safeguard the assets of the organization; and
- Analyzes rolling forecasts, actual-to-budgeted variances, and unusual trends and proactively communicates with the CEO, the GWU CFO, the MFA Board, and the executive leadership team, and stays informed of significant events that impact the business operations and performance of the organization.
Operational Oversight
Working closing with the CEO and various stakeholders, the /CFO manages the financial operations of the MFA to align with the fiscal and productivity guidelines established while ensuring adherence to all institutional and departmental policies.
This includes:
- Oversees and maintains an administrative organizational structure to effectively and efficiently accomplish the MFA's goals and objectives while appropriately segregating duties and mitigating risk.
- Works collaboratively with clinical and non-clinical leaders to support fact-based decision making in order to achieve greater levels of financially sound practice performance.
- Acts as a change agent, assisting the MFA with the successful implementation of new financial and administrative procedures and systems.
- Serves as a major point of contact for problem resolution in financial matters.
- Serves on various MFA committees, provides insightful, informed, and diplomatic feedback to the committee and communicates updates to appropriate constituents throughout the MFA, as appropriate.
- Leads the development of policies and procedures to govern financial decision-making, including forecasts, expense management, and capital spending to ensure the achievement of financial objectives.
- Develops, operates, and oversees the financial support systems of the organization to ensure that key stakeholders have access to timely, accurate, and reliable information to make fact-based decisions.
- Works with leadership and appropriate owners within the revenue cycle to develop and monitor corporate policies and performance metrics related to all aspects of the revenue cycle, including Patient Access, Patient Financial Services, Health Information Management, and Charge Description Master to create a state of the art, highly reliable revenue cycle.
- Assists in the negotiation of MFA contracts and reviews financial issues concerning contractual relationships between .
Read the full job description and apply online on the recuiter's web-site
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