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Vice President of Financial Services

NEW YORK CITY-10259, NY, US
06/17/2024

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Required Skills

CPA

Company

Infinity Consulting Solutions, Inc

Experience

Job Description

The Permanente Medical Group (TPMG) is the largest medical group in the United States — and one of the most distinguished. The company employs 9,500 physicians and 45,000 staff who are leading the transformation of health care and delivering superior clinical outcomes that have a positive and often life-changing impact on the health of 4.6 million members in 21 medical centers and 163 medical offices / outpatient facilities throughout in Northern California.

The Permanente Medical Group is focused on disease prevention, early intervention and world-class medical treatment, in partnership with its patients and their families. In partnership with Kaiser Foundation Hospitals and Health Plan, TPMG is a national leader in cardiovascular, cancer, perinatal and neurosurgical care, sepsis survival, and HIV treatment.

The group’s collaborative and coordinated approach to medical care enables physicians in more than 70 specialties to work together and apply sophisticated technology and high levels of medical expertise to benefit the lives of its patients. And through their innovative, personalized and technologically advanced approach to health care, TPMG continues to set the standard and raise the bar in making high-quality care more connected, more convenient and more accessible — all with the goal of delivering the best clinical outcomes for its patients.

KAISER PERMANENTE

Many organizations have a mission statement. We have a calling: to lead the way to a better future for health care delivery and finance. Through our leadership in the use of advanced technology, creation of innovative care delivery and cost-control solutions, and influence on health policy and reform efforts, we play an important role in shaping the future of health care delivery and finance in the nation.

Kaiser Permanente is the trade name for the integrated health care delivery system that delivers health care services through an integrated system of health plans, hospitals and physician groups operating as the Kaiser Permanente Medical Care Program.

The Kaiser Permanente Medical Care Program includes the following corporate entities: i) Kaiser Foundation Health Plan, Inc. (and its subsidiaries including regional health plan organizations), ii) Kaiser Foundation Hospitals, Inc. (and its subsidiaries), and iii) the independent Permanente Medical Groups. Kaiser Foundation Health Plan and Kaiser Foundation Hospitals share a common Board, while the Permanente Medical Groups are completely independent professional entities that provide professional medical services to members of the Health Plan through exclusive contractual arrangements and do not share common governance with the Health Plan or Hospitals.

We believe we are the health care delivery model for nation, and we share with our Health Plan and Hospital counterparts a common vision and mission:
• Providing and delivering high-quality, evidence-based health care that is affordable, convenient, and personal to improve the health of our members/patients and the communities we serve.

THE OPPORTUNITY

The Vice President of Financial Services of The Permanente Medical Group is a highly visible role across the organization. The Vice President of Financial Services will actively participate as a member of a physician-led management and decision-making through the provision of financial advice, analytical services, assessment of business results and supporting ongoing and forward-looking business decisions.

The Vice President of Financial Services will be responsible for creating a “best practices” organization from the standpoint of people, processes and systems implementation within Finance. Although the business has significant revenues, there is a critical need for developing a scalable infrastructure. The successful candidate must be able to drive an agenda of proactive and dynamic resource allocation, prioritization and productivity through the business working with operational physician leaders. He/she will develop and implement sophisticated measurement-based financial management through the business to ensure accurate planning. He/she must be highly adept at building relationships, influencing and gaining consensus, and overcoming resistance by presenting a powerful case for implementing new initiatives. This individual must be able to successfully work in a growth-oriented environment driven to satisfy customer needs while meeting corporate financial objectives.

KEY RESPONSIBILITIES

As the finance leader for TPMG, the Vice President of Financial Services will be responsible for financial oversight, standardization and cost management as well as serving as a key contributor for expansion activity. He/she will partner with senior physician management to build and support full financial responsibility, ensuring financial goals are achieved. Along with senior management, this individual will drive the business development strategy, collaborating with strategy and corporate business development functions in the development of plans and execution of actions.

Areas of specific responsibility include (though not limited to) the following:

Provide vision, strategy, leadership and oversight for TPMG Financial Services (10 direct reports and 700+ employees) including Corporate Finance Functions (e.g., accounting, financial reporting, tax, treasury), Financial Planning and Analytics, Finance Infrastructure.(e.g., accounts payable, physician payroll, outside medical claims processing), Financial Data, Systems, and Reporting, Medical Services Contracting, Capital Planning, Physician Benefits and Benefits Accounting, and Business Ventures.
Optimize existing financial systems to ensure they are fit for purpose and align with organizational goals.
Optimize financial and operational data, systems, and reporting to facilitate operational assessment, best practice identification, and financial accountability.
Develop and implement a multi-year financial strategy, proactively addressing and communicating financial complexities to service line and medical leaders and setting financial targets to achieve corporate financial objectives.
Financial services operations oversight includes optimizing medical center and regional operational analysis and financial planning to drive financial and operational performance.
Manage risks associated with cash, capital, resource deployment, accounting compliance, corporate liabilities, and strategy. Demonstrated experience in optimizing best care delivery systems, including but not limited to:
Collaborate with Chief Executive Officer in contract negotiations with Kaiser Foundation Health Plan (KFHP).
Co-managing outside medical contracting for both hospital and professional services with KFHP Chief Financial Officer.
Collaborate with physician executive leader and KFH leadership, oversee NCAL capital strategy and TPMG regional office capital planning and administration.
Financial administration of physician services including physician benefits, retirement and post-retirement benefits (including actuarial services), physician recruitment loans, and shareholders services.
Streamline financial processes for similar service lines
Oversight of Northern California non-covered member services/activities such as hearing aid centers, cosmetic services, and weight loss management.
Oversight of Northern California Kaiser region optical retail sales and optical manufacturing lab (600+ employees through a direct report)
TPMG board committee membership includes Finance and Audit, Retirement Program, and Compensation and Benefits Committees. The successful CFO will support TPMG's ongoing educational activities and initiatives with the program director, including benefits programs.
Kaiser Permanente committee representation includes Kaiser Permanente Insurance Corporation (oversight of Health Plan alternative product offerings) and HeaRX West (joint venture with outside company operating hearing aid centers).
The successful candidate will strategize and support new ventures for the organization.
Serve as a strong and effective leader, focused on building, retaining, and developing strong teams.

PROFESSIONAL EXPERIENCE/QUALIFICATIONS

Excellent financial, analytical and abstract reasoning skills along with exceptional business management and problem-solving skills with an ability to critically review financial reports and analyses and prepare recommendations from such reviews.
Exhibits executive presence with proven leadership skills, adept at building and maintaining relationships in a physician-led organization.
Excellent communication skills, including preparation and timely delivery of highly accurate and transparent financial presentations and the ability to clearly and simply articulate financial results to a non-financial audience. Effective in making presentations to TPMG’s Board of Directors.
Superior financial management and reporting skills, including a comprehensive knowledge and understanding of generally accepted accounting principles, internal controls over financial reporting, as well as best practice business processes, procedures and standards for an accounting department.
Expert in value-based payor negotiations and contracting, optimizing financial agreements in a physician-led organization.
Process oriented with business operation acumen, commitment to continuous process improvement and demonstrated ability to empower others to perform at the highest level of their ability.
Demonstrated strong individual accountability, interpersonal and organizational skills.
15+ years progressively responsible financial experience for major corporations or divisions of large corporations, with 5+ years required as the senior financial decision maker for a non-profit, private or publicly traded organization.
Experience in the healthcare industry is required.

EDUCATION

An undergraduate degree in Finance, Accounting, or similar discipline, complemented by an MBA and/or a CPA is highly desirable. However, the primary criteria for selection relates to professional achievement and potential.