The Vice President, Chief Financial Officer (CFO) - Medical Group position reports to the Baylor Scott & White Healthcare (BSWH) Senior Vice President/Chief Financial Officer Hospitals and Clinics and oversees BSWH Medical Group financial operations for the organization.
The Vice President, CFO - Medical Group is a strategic financial leader for the Medical Group and will aid in monitoring and reporting on the financial performance of the medical group. This position will collaborate with the operators to optimize financial performance with a focus on revenue optimization, cost/expense control and staffing productivity.
The Vice President, CFO - Medical Group is also responsible for physician Compensation strategy and planning for physician and advanced practice provider compensation for all employed BSWH physicians. This position plans, aids in development and implements physician compensation strategy, models, and programs, which may include compensation budgeting, reporting, financial analysis and forecasts. May act as liaison to physicians and providers to confirm understanding of compensations plans and agreements. Ensures that the physician and provider compensation is aligned to the strategies and goals of the physician medical group and the BSWH system.
This position will work closely with the Senior Vice President - President - Medical Group and the Senior Vice President - CMO - Medical Group and other members of executive and senior management, and leadership at each BSWH entity. They will collaborate with BSWH leaders of Revenue Cycle, Managed Care, Marketing, Legal and Compliance to support strategic initiatives.
ESSENTIAL FUNCTIONS - Reports to the SVP/CFO of Hospitals and Clinics and collaborates closely with the CMO and President of the Medical Group in the oversight of the financial performance for the Medical Group. - Collaborates with other BSWH CFOs on annual budgets and associated financial analysis/impacts related to the clinics financial performance. - Work collaboratively with other BSWH System and finance leaders to gather and share information, best practices, resources and people, to optimize the financial performance of the Medical Group. - Partners with key leaders of Revenue Cycle, Managed Care, Marketing, Legal and Compliance to aid in attaining strategic initiatives. - Acts as primary liaison between employed physicians, general counsel, and third parties regarding physician compensation issues, overage agreements, and other financial matters impacting physician compensation. - Aligns market-based physician financial incentives with the Medical Group requirements for quality, outcomes, and patient experience in support of value-based care and direct-to-employer agreements. - Reviews current market practice in physician and provider pay practices to provide recommendations, guidance, and continuous process improvement of financial operations and physician pay program delivery for BSWH. - Plans and directs the implementation of new physician and provider compensation models, programs, and projects, including guidance on change management, communication strategies, and the education of physicians and operations leadership. - Provides oversight to physician compensation production teams and program delivery, and ensures the physician compensation programs are administered appropriately, timely, and accurately. - Manages departmental resources, including operating budget and oversees professional development of physician and provider compensation staff. - Works on finance projects assigned by the Senior Vice President/Chief Financial Officer - Hospitals and Clinics. The projects may be directed towards any BSWH entity/market and support BSWH strategic initiatives, system implementations, process/operational improvements, and other priorities for the finance division. - Participates in professional, civic and service organizations as a representative of BSWH. - Shows a high level of commitment to Baylor Scott and White Healths core values, mission and strategies, and puts forward his or her full effort to its development and success. - Demonstrates strong and positive leadership approaches to help staff, physicians and communities see the value of delivering compassionate, high quality health care services in a manner that improves the health status of the community that BSWH serves. Sets high standards that are congruent with BSWH standards and holds all staff, leaders and physicians to such standards. - Demonstrates sound judgment and effectively uses experience to make well-considered decisions on complicated matters affecting people, programs, finances and other priorities. - Understands and works effectively with people of differing temperaments, styles and interests, to manage complex activities under difficult time constraints and other pressures. - Performs other position appropriate duties as required in a competent, professional and courteous manner. - A minimum of ten years of progressive health care financial management or leadership experience is strongly preferred, with demonstrated success in managing complex, multifunction organizations. - Highly effective skills and demonstrated knowledge in: Physician Compensation design, strategic development, health system operations, financial analysis, analytics and problem-solving, group and individual communication and demonstrated leadership abilities.
MINIMUM REQUIREMENTS - Bachelors degree business, finance, or related field - Masters Degree preferred - 10+ years of related experience - with 7+ years experience with physician compensation. - 7+ years of leadership experience
Baylor Scott & White Health (BSWH) is the largest not-for-profit health care system in Texas and one of the largest in the United States. With a commitment to and a track record of innovation, collaboration, integrity and compassion for the patient, BSWH stands to be one of the nation’s exemplary health care organizations. Our mission is to serve all people by providing personalized health and wellness through exemplary care, education and research as a Christian ministry of healing. Joining our team is not just accepting a job, it’s accepting a calling!