NorthBay Healthcare (NorthBay) is one of the strongest independent, non-profit, locally managed, integrated health systems in California. In tandem with Solano County's rapid growth in population and its economy over the course of the past 20 years, NorthBay has expanded the variety of ways in which it serves the region via specialty care services and the number of locations in and around Solano County at which patients can receive primary, urgent and other forms of care. The health system has made unparalleled investments, locally, in facilities, infrastructure and staff to maintain the highest quality patient experience. The board of directors, management and staff continue to, proactively, identify unmet needs within the community and, often with partners, find innovative ways of addressing them.
The CFO will join a highly collaborative and collegial executive management team focused on continuous improvement of the patient experience and innovation of the health systemâ€™s offerings, infrastructure and processes. This key executive will lead a progressive accounting and finance team going well beyond sharing data on the financial position of the organization and various associated entities, to providing analysis to the Board of Directors and other members of executive management on areas for operational improvement and new opportunities for growth, including scenario modeling and feasibility.
The CEO is seeking a CFO who will embody the NorthBay values of compassion, integrity and respect, be a reliable source of expert counsel, possess an innovation mindset and be a sought-after collaborator. This key executive will be a leader who develops and empowers their team.
NorthBay has been serving Solano County for 60 years and is governed by a fiduciary board. The health system's headquarters is located in Fairfield, California with hospitals, clinics, specialty and a wellness center located throughout Southern Solano County. All of the clinical entities are a part of NorthBay Healthcare Group and include the hospital division, ambulatory division, Medical Foundation, NorthBay Healthcare Advantage, NorthBay Cancer Center, Center for Orthopedics, as well as North Bay HealthSpring Fitness. In addition, the health system has an ownership interest in Western Health Advantage, a health plan serving the area.
NorthBay Healthcare is a part of the Mayo Clinic Care Network. The health system is the first Northern California health care organization to be selected for membership, giving them a cutting edge as they provide patient care informed by the latest Mayo Clinic knowledge. The partnership gives NorthBay physicians and clinicians access to Mayo Clinic research as well as specialists to help with complex conditions and assistance for the providers to conduct remote consults.
The health system has made major investments in the Solano County community was well as in NorthBay's processes and information technology to ensure the best patient care. The health system recently implemented Cerner for their Electronic Medical Record (EMR) in all locations including ambulatory and inpatient.
Historically, NorthBay's financials have been positive with net patient revenues of approximately $600M and a payor mix of 28% Medicare, 24% Medi-Cal (Covered California), 47% commercial and 1% self-pay and other sources. The system's bond rating from S&P is currently BBB- stable.
Non-unionized, NorthBay has over 2600 employees and an enviable 11% turnover rate. For numerous consecutive years, the North Bay Business Journal has named NorthBay to its annual list of One of the Best Places to Work.
The Mission, Vision and Values
NorthBay Healthcare, a community focused, not-for-profit organization, exists primarily to deliver quality health care in a cost-effective way, responding and involving the community in decisions, providing access to health care and acceptability to all socioeconomic levels. NorthBay Healthcare is governed by a Board of Directors that broadly represents that of the community and strives to assume a leadership role in all health matters.
NorthBay Healthcare's mission is:
Compassionate Care, Advanced Medicine, Close to Home.
NorthBay Healthcare is committed to improving community access to quality, compassionate care through advanced medicine that is close to home through an affordable healthcare delivery system which is dedicated to improving community health status, promoting preventive practices and wellness, and providing coordinated and appropriate health care services.
Community Collaboration and benefit
Prudent use of resources
Overview and Personal Qualities
NorthBay Healthcare seeks a strategic, innovative, collaborative, Chief Financial Officer (CFO) to provide financial leadership, guidance, counseling and appropriate controls for hospital operations.
The CFO will develop and implement financial strategies and systems which assure the availability of operating and investment income and information about the NorthBay Healthcare System's financial status.
This key leader, while engaging with multiple transitions occurring within NorthBay and the larger health care sector, will have a direct, but diplomatic, communication approach and possess a progressive outlook with respect to analytics, mentoring and developing the capabilities of the accounting and finance staff at NorthBay. A respected collaborator, the CFO will look for opportunities to achieve operational improvements within the accounting/finance departments, while, concurrently, assisting other departments with identifying and developing new opportunities for achieving operational improvements. The CFO will be a key partner in innovation and growth initiatives.
This key executive will communicate effectively with major stakeholders, creating clear, accurate financial reports for NorthBay Healthcare's Board Finance Committee and Board of Directors. Responsible for all aspects of financial planning and control, the CFO will coordinate all accounting, financial and statistical reporting, admitting, billing, collecting and third party reimbursement activities within NorthBay. Versed in analytics, this key leader takes a data and evidence-based approach to decision-making, risk and opportunity assessment. The CFO is experienced with analysis and making recommendations with respect to complex financing and funding such as bond ratings and joint ventures while also being well-versed in areas such as revenue cycle improvement.
This key leader collaborates with the CEO on the identification and development of new initiatives and promotes the mission of NorthBay through caring, communication, collaboration and competence. The CFO will have emotional intelligence, strong relationship management, tenacity and orientation towards supporting the growth and development of the organization.
Reporting to the CEO, the CFO, directly and indirectly, oversees 182 staff.
Principal Duties and Responsibilities
Monitor and review all NorthBay Healthcare System financial and accounting systems and programs for operational integrity.
Analysis, evaluation and reporting of all financial aspects of existing and proposed NorthBay programs to appropriate operating and holding company management.
Provide expert counsel to the CEO and Board of Directors.
Plan, organize and coordinate financial policies for the Hospital to control receipt of revenue, expenditure of funds and conservation of assets.
Prepare the annual budget and perform variance analyses of monthly results of operations versus budgeted trends.
Conduct short-term operational and long-term strategic financial planning, including capital asset management and evaluation.
Work with leadership of each department to establish internal controls, policies and procedures, culminating with the periodic preparation of financial statements prepared in conformance with generally accepted accounting principles.
Oversee or develop forecasts, cash flow projections and other internal management reports.
Oversee cash management and short-term investments.
Supervise bank reconciliation and audit functions.
Supervise timely Medi-Cal/Medicare and managed care patient billing and collections for third party reimbursements.
Create and maintain updated departmental budgets. Meet regularly with the President/CEO and department heads to offer training and counsel on budgetary management.
Summarize pertinent financial data related to revenue, collections, write-offs and other financial elements for periodic presentation to the CEO and Board of Directors.
Evaluate, make recommendations and understand NorthBay'+s bonds and ratings
Develop financial strategies for capital acquisition and maintaining operational integrity.
Direct the development and implementation of new financial systems, policies and procedures necessary to accommodate the growth of NorthBay.
Establish a plan of control by means of a formal budget program providing for standards of performance measurement.
Develop and grow staff to maximize full potential.
May act as agent designee of the Chief Executive Officer upon his request or absence.
Demonstrated success in developing, implementing and monitoring an effective financial management system
Minimum of ten years of directly related accounting and financial experience, five of the most recent years with managerial responsibilities for healthcare accounting and finance operations and at least three years of related financial/treasury operations exposure
Strong skills in accounting and third-party reimbursement/patient billing
Strong experience and understanding of bonds and bond ratings
Strong background in Revenue Cycle Management
Experience in managed care contract management
Detailed-oriented with excellent verbal, analytical, organizational and written skills
Effective communication and presentation skills
Up-to-date knowledge of current financial and accounting computer applications
Seven + years of experience as a hospital CFO in a complex health care organization
BA or BS in Accounting or Business Administration required
MBA, CPA or Fellowship in HFMA
Please email your resume to:
Director, Executive Search/Interim Management
Additional Salary Information: Includes full benefits package.
Internal Number: 588147
About NorthBay Health
NorthBay Health in Fairfield, CA, is one of the strongest independent, non-profit, locally managed, integrated health systems in California. This innovative health system is within commute distance of both San Francisco and Sacramento.
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