Director of Financial Operations
Aristo Sourcing, Riverside, California, United States, 92504
Director of Financial Operations
As a key strategic leader, the Director of Financial Operations will oversee the financial functions of a rapidly expanding multi-clinic practice focused on wound care and wellness services, including IV therapy and annual physicals. This role is vital in maintaining the organization’s financial health and compliance, and in driving sustainable growth. The Director will be engaged in budgeting, financial reporting, forecasting, billing, revenue cycle management, and collections across multiple sites, supporting a dynamic staff of approximately 50 employees.
Duties & Responsibilities: Financial Management
Design and implement robust financial policies, procedures, and controls that promote accuracy, compliance, and accountability. Lead the annual budget development and management process in collaboration with the CEO and department heads. Conduct financial forecasting and craft strategic plans to align with business objectives and expansion initiatives. Reporting & Compliance
Prepare comprehensive and timely financial reports, including balance sheets, income statements, and cash flow statements. Ensure adherence to all regulatory standards and requirements, particularly in relation to Medicare billing and reporting. Manage external audits and coordinate with auditors, addressing findings and implementing necessary improvements. Revenue Cycle Management
Supervise billing, coding, and collections, ensuring precision in claims submissions and rapid collection processes. Monitor key performance metrics (KPIs) related to revenue cycle management, such as accounts receivable days and collection rates, to discover areas for enhancement. Collaborate with clinical and administrative teams to streamline billing workflows, specifically given the diverse payor mix of patients. Cash Flow & Financial Planning
Oversee cash flow management to guarantee sufficient liquidity for operational purposes and planned investments. Devise revenue optimization strategies, while efficiently managing expenses to ensure overall profitability across service lines. Conduct thorough financial analyses to pinpoint trends, risks, and opportunities for cost reductions. Strategic Leadership
Collaborate with the CEO and executive team to shape financial strategies that enhance decision-making on business growth and resource allocation. Provide mentorship, guidance, and support to the finance and accounting team. Promote a collaborative culture that encourages financial literacy and accountability among all departments. Risk Management
Establish and enforce a comprehensive risk management framework, including financial and insurance risk assessments. Ensure effective internal controls are established, particularly regarding billing, payroll, and cash management. Work with legal and compliance teams to minimize financial risks associated with regulatory and operational challenges.
Design and implement robust financial policies, procedures, and controls that promote accuracy, compliance, and accountability. Lead the annual budget development and management process in collaboration with the CEO and department heads. Conduct financial forecasting and craft strategic plans to align with business objectives and expansion initiatives. Reporting & Compliance
Prepare comprehensive and timely financial reports, including balance sheets, income statements, and cash flow statements. Ensure adherence to all regulatory standards and requirements, particularly in relation to Medicare billing and reporting. Manage external audits and coordinate with auditors, addressing findings and implementing necessary improvements. Revenue Cycle Management
Supervise billing, coding, and collections, ensuring precision in claims submissions and rapid collection processes. Monitor key performance metrics (KPIs) related to revenue cycle management, such as accounts receivable days and collection rates, to discover areas for enhancement. Collaborate with clinical and administrative teams to streamline billing workflows, specifically given the diverse payor mix of patients. Cash Flow & Financial Planning
Oversee cash flow management to guarantee sufficient liquidity for operational purposes and planned investments. Devise revenue optimization strategies, while efficiently managing expenses to ensure overall profitability across service lines. Conduct thorough financial analyses to pinpoint trends, risks, and opportunities for cost reductions. Strategic Leadership
Collaborate with the CEO and executive team to shape financial strategies that enhance decision-making on business growth and resource allocation. Provide mentorship, guidance, and support to the finance and accounting team. Promote a collaborative culture that encourages financial literacy and accountability among all departments. Risk Management
Establish and enforce a comprehensive risk management framework, including financial and insurance risk assessments. Ensure effective internal controls are established, particularly regarding billing, payroll, and cash management. Work with legal and compliance teams to minimize financial risks associated with regulatory and operational challenges.