Vice President of Finance - FPP
Position Summary:
The Vice President of Finance is a senior leadership role responsible for the strategic oversight and operational excellence of clinical and financial functions across the Faculty Practice Plan. This role ensures the delivery of high-quality, cost-effective care while maintaining financial sustainability and regulatory compliance. The Vice President will lead cross-functional teams, optimize workflows, and collaborate with executive leadership to drive innovation, performance, and growth. The Vice President will implement the FPPs Strategic 2030 Market Expansion plan. The Vice President reports to the Chief Executive Officer of the FPP.
Key Responsibilities:
Strategic Leadership
- Develop and execute integrated strategies that align clinical operations with financial goals and institutional priorities.
- Lead initiatives to scale clinical services, improve patient access, and enhance operational efficiency.
Financial Management
- Direct the preparation and distribution of monthly financial reports, including service line profitability, provider productivity, and departmental budget performance.
- Monitor provider productivity (e.g., wRVUs, cFTEs) and ensure alignment with MGMA benchmarks.
- Lead the annual operating budget process, including baseline development, variance analysis, and iterative forecasting in collaboration with finance partners.
Performance Optimization
- Conduct quarterly performance reviews for clinical departments and individual providers, analyzing wRVU trends, encounter volume, charges, and payments.
- Lead performance reviews and develop action plans to enhance clinical and financial outcomes.
- Lead Lean Six Sigma or DMAIC projects to reduce operational waste, improve patient flow, and enhance financial performance.
Stakeholder Engagement
- Facilitate regular strategy sessions with senior leadership, department chairs, and finance teams to align financial priorities.
- Collaborate with internal and external stakeholders to support strategic initiatives.
- Serve as the primary liaison for external consultants, payers, and vendors involved in financial planning.
Compliance & Risk Management
- Ensure adhere to CMS, Joint Commission, and institutional compliance standards.
- Identify risks (e.g., underperformance, inefficiencies) and develop mitigation plans in collaboration with legal and compliance teams.
Qualifications:
Education
Master’s degree in Health Administration, Business Administration, Finance, or a related field required.
Experience
Minimum of 5–7 years of progressive leadership experience in healthcare operations and finance. Proven success in managing financial planning, and strategic initiatives.
Skills & Competencies
- Strong leadership and team management capabilities.
- Advanced financial modeling and analytical skills.
- Expertise in healthcare operations, provider compensation, and performance metrics.
- Excellent communication and stakeholder management abilities.
- Proficiency in Microsoft Office 365 and financial reporting tools.
- Familiarity with EHR systems, digital health platforms, and regulatory compliance.
Salary $180,000 - $210,000 annually
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