Pediatric Management Group/ Children’s Hospital Los Angeles Medical Group
(Los Angeles, CA)
Title: Chief Financial Officer
PEDIATRIC MANAGEMENT GROUP:
Pediatric Management Group, LLC (PMG), a California Limited Liability Company, is a physician practice management company that provides billing, collecting, contracting, practice development, and management services to its physician clients. PMG has 111 employees, an annual budget of approximately $20 million and collects more than $150 million per year for its physician clients.
CHILDREN’S HOSPITAL LOS ANGELES MEDICAL GROUP:
The principal owner of PMG is the Children’s Hospital Los Angeles Medical Group (CHLAMG), which is the largest pediatric multi-specialty group in the United States. CHLAMG has approximately 540 members covering more than thirty sub-specialties based primarily at Children’s Hospital Los Angeles. CHLAMG physicians provide top pediatric care via five departments: Anesthesiology and Critical Care Medicine; Pathology and Laboratory Medicine; Pediatrics; Radiology; and Surgery. CHLAMG is affiliated with the Keck School of Medicine at the University of Southern California and is one of two USC Keck School of Medicine practice plans (the other being the adult practice plan—USC Care). The majority of CHLAMG physicians are full time faculty of the Keck School of Medicine and are required to practice within a University approved practice plan of which CHLAMG is one and USC Care is the other. CHLAMG is a professional corporation and is tax exempt under section 501(c)(3) of the Internal Revenue Code. Both PMG and CHLAMG are governed by a nineteen-member Board of CHLAMG physicians.
CHILDREN’S HOSPITAL LOS ANGELES:
Founded in 1901, Children’s Hospital Los Angeles (CHLA) is one of the nation’s leading children’s hospitals and is acknowledged worldwide for its leadership in pediatric and adolescent health. CHLA is one of only 10 children’s hospitals in the nation—and the only children’s hospital on the West Coast—ranked in all 10 pediatric specialties by U.S. News & World Report and named to the magazine’s Honor Roll of children’s hospitals. A premier teaching hospital and academic medical center affiliated with the Keck School of Medicine at the University of Southern California since 1932, CHLA is a nationally recognized leader in pediatric research, education, and clinical care. CHLA’s Saban Research Institute is ranked in the top 10 NIH-funded pediatric research institutes nationwide. With an average daily census of 300 inpatients, more than 550 CHLA physicians treat 11,000 inpatients and 300,000 outpatients each year. CHLA is a 501(c)(3) nonprofit institution.
PMG/CHLAMG is seeking a skilled Chief Financial Officer with exceptional communication and analytical skills to lead all financial affairs for the organization including oversight of the Decision Support Services and Revenue Cycle Departments.
THE CHIEF FINANCIAL OFFICER POSITION:
Reporting to the Chief Executive Officer of PMG/CHLAMG, the Chief Financial Officer (CFO) is responsible for the organization’s financial plans and policies, its accounting practices, its relationships with lending institutions, the maintenance of its fiscal records, the preparation of financial reports, revenue cycle reporting and analysis, business planning, acquisition/expansion analysis, and all aspects of the office administration including information services and technology, office operations, office lease, and equipment leases. For the guidance of the Board of Directors, the CFO prepares financial analyses of operations, including interim and year-end financial statements with supporting schedules. The CFO also serves as administrator and trustee for the organization’s employee benefit plans.
Additional responsibilities include, but are not limited to:
- Coordinates and administers a plan for the control of operations. Such a plan provides profit planning, forecasts, expense budgets, accounts receivable, cost standards, saving opportunities, and capital investing, together with the necessary controls and procedures to effectuate the plan.
- Compares performance with operating plans and standards. Provides reports and interprets the results of operations to all levels of management. This includes the formulation of accounting policies, the preparation of financial statements and operating data, the coordination of systems and procedures, and special reports as directed by the Chief Executive Officer.
- Forecasts short-range and long-range cash requirements and obligations as a basis for maintaining adequate funds.
- Assures protection for the assets of the business through internal control, internal auditing, and ensuring proper insurance coverage.
- Monitors credit and collection applications.
- Provides other department units with related information required by them to carry out their assigned responsibilities.
- Establishes and implements a sound operational and organizational plan in direct support of the business plan.
- Keeps the Chief Executive Officer informed of the division's performance and provides advice on all financial matters.
- Executes cash disbursements for payment of corporate and divisional expenditures in accordance with disbursement and policies.
- Monitors investments and advises management regarding performance.
- Assures that effective communications are maintained within the departments. Where appropriate, informs management and staff as to plans and progress.
- Participates in meetings and assists with strategic acquisitions of the group.
TRAITS AND CHARACTERISTICS DESIRED:
The CFO will possess excellent leadership, financial, administrative, and analytical skills. The successful candidate will be a team-builder with well-developed interpersonal skills and the ability to get along well with diverse personalities. An exceptional communicator both written and verbally, the CFO will also be a strategic thinker with the ability to understand the key issues affecting the organization. A results and profit oriented professional with the ability to balance other business considerations, the CFO will establish credibility and be decisive but also able to reorganize and support the organization’s preferences and priorities. Along with a keen attention to detail, strong analytical and reasoning abilities, and superior numeric skills, the CFO should be well-organized, have the highest ethical standards and be a model of integrity and fairness. Other characteristics that will be valued include maturity, tact, and flexibility.
CAREER PATH LEADING TO THIS POSITION:
Preferred candidates will have proven financial leadership experience gained through increasingly responsible management positions within complex health care organizations with annual revenue of over $50 million. Knowledge of accounting theory, principles, and practices to identify and describe accounting systems and subsystems is required. Experience overseeing accounts, budgeting, cost accounting, credit and collections, and finance is essential and expected. The CFO will bring a keen understanding of budgeting and cost accounting principles, organizational policies, procedures, systems, and objectives, as well as knowledge of fiscal management and personnel management techniques, ideally within health care administration systems. The ability to research and prepare comprehensive statistical and narrative accounting reports and to analyze and interpret complex data is also important. A thorough knowledge of computer systems and applications such as SAGE Intacct, Microsoft Excel and Word is required. The CFO will be skilled in exercising initiative, judgment, problem-solving, and decision-making. The ability to develop and maintain effective relationships with medical, administrative staff, and physicians is imperative.
An undergraduate degree is required, ideally in Accounting or Finance. A CPA and/or MBA is strongly preferred.
The annual base salary for this role begins at $250,000 with a competitive benefits package.
Sign up for our monthly newsletter
We'll keep you up-to-date on news about current searches as well as filled positions!