System Vice President, Finance
Franciscan Children’s Hospital, a mission-driven, not-for-profit organization that provides medical, behavioral health and educational services to children and adolescents, is seeking a System Vice President of Finance (SVPF) to be the lead in maintaining the institution's financial viability and ensuring that all accounting practices and financial transactions are conducted in accordance with accepted accounting standards, laws and regulations governing the fiscal management of not-for-profit healthcare institutions. The leader will serve as the Treasurer of the Board and as the management liaison to the Finance Committee.
Franciscan Children’s is a 112-bed specialty hospital for children with 48 post-acute medical meds, 32 inpatient behavioral health beds, and an 18-bed community based acute treatment (CBAT) residential behavioral health program. It operates 3 ambulatory operating rooms and a range of outpatient therapy and behavioral health services. It is the only freestanding pediatric post-acute care facility in New England that offers clinical, therapeutic and educational programs for children with a variety of complex medical needs.
Franciscan Children’s is in the process of affiliating with Boston Children’s Hospital, the leading pediatric hospital in the country. The affiliation, which will bring Franciscan Children’s under the Boston Children’s corporate umbrella, is designed to expand access to behavioral health and post-acute services, as well as to strengthen the continuum of care. As part of the affiliation, Franciscan Children’s and Boston Children’s Hospital are planning to build a new hospital on the Franciscan Children’s site, improve compensation and benefits, invest in teaching/research and better meet the growing needs of patients requiring complex care.
Major Responsibilities (include, but not limited to):
Overseeing the strategic planning and budget process; managing the operating budget; and leading revenue cycle management, including patient access, accounts, and health information management.
In addition to these day-to-day responsibilities, the SVPF will serve as a strategic thought-partner to the CEO, Executive Leadership Team, and Board of Directors. He/she will undertake significant strategic projects including, for example: developing a new rate structure for behavioral health and post-acute care; supporting managed care negotiations; managing the migration to Kronos payroll platform; attracting additional streams of state, federal, and not-for-profit grant-funding. He/she will also work closely with HR leadership to manage labor costs and implement consistent systems and processes.
The SVPF will play a critical role in designing and implementing the financial and operating model as part of the newly formed system post-affiliation. As the integration work moves forward, it is anticipated that the SVPF over time will have broader opportunities at the Boston Children’s Hospital system level, including special strategic projects.
- Minimum of 7 to 10 years management experience required in the healthcare finance function demonstrating ever increasing and progressive responsibilities, particularly in a resource constrained environment and with experience in a competitive market.
- Previous experience as a Chief Financial Officer, SVP of Finance, or VP finance (e.g. FP&A).
- Preferably has worked within a multi-hospital system.
- Has an understanding of hospital revenue cycle and the ability to identify challenges and areas of improvement to drive overall financial improvement and patient experience.
- Detailed knowledge and competency in third-party reimbursement is essential, especially Medicaid and behavioral health, post-acute care, and federal relief programs (e.g., ARPA).
- Service line and performance improvement experience is desired.
- Previous experience working with a Board is preferred.