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Chief Financial Officer Resume

Chattanooga, TennesseE

SUMMARY:

A seasoned financial executive with over 18 years of broad financial experience. In addition to basic financial skills, has experience in budgeting, forecasting, leading and projecting future revenues and expenses for not - for-profit and for-profit companies.

PROFESSIONAL EXPERIENCE:

Confidential, Chattanooga, Tennessee

Chief Financial Officer

Responsibilities:

  • Constructed the 2015 budget based on percentages and historical averages to in corporate a 8-12% profit at all facilities
  • Met with the Executive Directors of the facilities to plan, review and construct a plan going forward specific to each facilities strengths and weaknesses
  • Evaluated the internal processes and personnel to implement changes for a better structure and better outcomes
  • Vendor Relations - set up vendor payment plans with concessions for reducing the overall debt based on meeting agreed upon plans
  • Provided guidance to accountants to improve the process of the month end close
  • Daily cash management and treasury function for 16 skilled nursing facilities

Confidential, Little Rock, Arkansas

Consulting Chief Financial Officer

Responsibilities:

  • Constructed the complete 2014 budget based on percentages to in corporate a 15% profit at each field office
  • Mentor a new hospice Controller in understanding the statistics, percentages and performance improvement in the hospice environment
  • Mentor all nurse managers and site managers to be able to read and understand financial statements and to use them and the general ledger as a management tool
  • Created and enhanced the financial policies and procedures
  • Established standard reporting of statistics, cash flow and census data for the Board of Directors
  • Developed a hospice CAP calculation to monitor the Medicare driven CAP restriction on hospice services

Confidential, Phenix City, Alabama

Chief Financial Officer

Responsibilities:

  • Complete the month-end close process including proper account analysis, journal entry preparation and approval and contractual reconciliations for all payers monthly
  • Helped reduce A/P by $1.5 million by working with vendors and constructing settlements of old outstanding debt as part of reconstructing of the balance sheet
  • Completed weekly cash flow analysis and reconciliation for presentation to Confidential in conjunction with a $30 million Confidential loan
  • Completed and presented the 2014 budget for the hospital to the Board of Directors for approval
  • Prepared cost analysis for internal and external purposes including a cost analysis for Blue Cross in order to prepare an ask for an increase in reimbursement rates through contract negotiations
  • Reconciled Medicare settlements monthly to proper amortization schedules
  • Participated in and helped restructure the bi-annual inventory counting process to work more efficiently
  • Directly managed Materials Management, Billing Office and the Accounting Departments including Controller, Accountant, A/P and Payroll
  • Completed interim audit procedures with external auditors and renegotiated the annual audit contract saving over $30k
  • Presented monthly financials and operating indicators to the board at the Board of Directors meeting

Confidential, Naples, Florida

Assistant Chief Financial Officer

Responsibilities:

  • Completed the 2012 Medicare Cost Report for Confidential and Confidential Hospita
  • Assisted the CFO in the month-end close process including proper account classification, journal entry preparation and Medicare/Medicaid contractual postings
  • Performed service line analysis on various revenue centers in order to determine financial feasibility on a going forward basis as requested by the CEO
  • Assisted the CFO in the management and running of key financial departments including the Business Office, Information Management, Health Management Physician Network, Materials Management and Accounting
  • Completed and entered the 2013 budget for the primary care and specialty clinics associated with Confidential
  • Developed and instructed all department directors on the proper process for completion and submission of capital equipment request (CER)
  • Prepared monthly financial performance reports for the Board of Directors, Department Directors, Joint Venture Finance Committee and the CEO indicating financial and volume trends among the hospital entity, the clinic entity and the surgery center
  • Completed pro-forma financial statements for physician agreements either being renewed or being initiated in order to determine estimated financial impact on the hospital’s budget over the relevant agreement timelines
  • Dual effort to coordinate the planning, designing and building of a medical office building in Confidential, TN for a primary care clinic and multi-specialty clinic for local area residents

Confidential, Chattanooga, Tennessee

Chief Financial Officer & Senior Vice President

Responsibilities:

  • Identified and implemented legitimate strategies for dealing with cost control after a voluntary 180 reduction in census. These strategies included such things as instituting a company car program, changing pharmacy and medical supply vendors, reducing overtime and PRN usage, reducing staff through attrition, reorganizing teams for further reduction in travel cost and a temporary reduction in education expenses. These reductions amounted to a million dollars in savings per year.
  • Participated with Confidential and Confidential Organization to visit with US Senators and Representatives (from Tennessee) and their healthcare advisors to help protect the Medicare reimbursement rate for hospice.
  • Negotiated with regional hospitals and 15+ Skilled Nursing Facilities and Assisted Living Facilities administrators to keep our General Inpatient (GIP) payments, over the entire six year period, to 75% of Medicare allowable (while the national average is between 90 - 100%).
  • Initiated two separate bond financing agreements with corporate banking for a 33,000 sq.ft. corporate office building and new equipment for $3.25 million at an interest rate 1.5% lower than the available bank loan.
  • Successfully obtained two 16 bed Certificate of Needs in two separate counties by preparing and presenting budgets, assessments and spreadsheets.
  • Reduced days in accounts receivable by 15 days from 55 to 40 resulting in a decrease in accounts receivable of $1.5 million.
  • Increased profits by $5 million over the six year period and eliminated need for using Line of Credit. Now have $2.5 million in investments, $3 million in working capital and a foundation with assets of $5 million.

Confidential, Chattanooga, Tennessee

Finance Director

Responsibilities:

  • Created and maintained a compensation plan for determining physician salaries based completely (100%) on productivity.
  • Consulted with physicians quarterly who had a 10% or more reduction in salary to explain why salary would be decreased.
  • Instructed and led site managers at all 12 physician offices as to how to prepare and review budgets resulting in better management of office expenses for a savings of $500 thousand.
  • Ensured accuracy and compliance with Generally Accepted Accounting Principles (GAAP) by conducting various petty cash and cash payment audits at all 12 physician offices.
  • Successfully obtained a Certificate of Need for opening an Imaging Center by preparing budgets, assessments and spreadsheets.

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