Chief Financial Officer

Welcome to Cherry Health - video about Cherry Health

This role requires a minimum of 5 years of progressive financial leadership experience in an FQHC, community health center, or comparable safety-net healthcare organization, with 7 or more years preferred.

OVERVIEW OF POSITION:

The Chief Financial Officer (CFO) is a member of the Executive Leadership Team and reports to the Chief Executive Officer. The CFO leads the financial operations of a Federally Qualified Health Center (FQHC), including fiscal policy, budgeting, accounting, financial reporting, and compliance with HRSA Health Center Program and federal grant requirements. The CFO also provides executive oversight of Revenue Cycle, Credentialing & Privileging, and provides strategic and financial oversight of Information Technology. The CFO works with the CEO, senior leaders, and the Board of Directors to align financial, operational, and technology strategy with the organization's mission and long-term goals.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Leadership & Strategy

• Serves as an active member of the Executive Leadership Team and the health center's key management staff.
• Works with the CEO and other senior leaders to assess the financial implications of organizational strategy and to set the financial strategy needed to advance the mission.
• Identifies, plans, tracks, and drives strategic initiatives, and contributes to developing and monitoring the strategic plan.
• Provides strategic financial modeling, including short and long-term forecasting, such as scenario planning for changes in federal grant funding, Medicaid policy, and payer mix.
• Leads major cross-functional projects and initiatives with significant business impact.
• Partners with the Chief People Officer on compensation planning and salary and wage adjustments.
• Leads direct reports through a performance process that includes goal setting, routine feedback, and ongoing development.

Finance

• Ensures the organization remains financially solvent and maintains adequate liquidity and reserves.
• Leads development of the annual operating and capital budgets for Board approval and monitors performance against budget throughout the year.
• Prepares monthly and annual financial statements and reports for the Board of Directors and its finance committee.
• Oversees accounting operations, including general ledger, accounts payable, month-end close, and internal controls that meet HRSA financial management requirements.
• Leads financial audits and ensures any findings are resolved on time.
• Oversees federal and state grant financial management, including compliance with Uniform Guidance (2 CFR 200), Payment Management System drawdowns, cost allocation and indirect cost rates, and Federal Financial Reports.
• Oversees the financial portions of HRSA reporting, including UDS required data sets.
• Provides financial oversight of the 340B Drug Pricing Program, including program compliance and HRSA audit readiness.
• Partners with the COO as the primary contact for insurance carriers and brokers and ensures adequate coverage, including property, general liability, cyber, gap coverage for activities FTCA does not cover.
• Prepares financial reports for funders, donors, government and regulatory agencies.

Revenue Cycle

• Oversees the full revenue cycle, including front-end registration and eligibility verification, charge capture, coding, billing and claims submission, accounts receivable, and patient collections.
• Sets and monitors revenue cycle KPIs, such as days in A/R, clean claim rate, denial rate, and net collection rate, and leads corrective action processes.
• Oversees payer contracting, payer relationships, and provider/payer enrollment.
• Evaluates and manages value-based payment arrangements and alternative payment models with Medicaid health plans and other payers.
• Oversees Medicare and Medicaid cost reports, PPS and wraparound reconciliations, change in scope rate adjustments, and other governmental reimbursement filings.
• Ensures the sliding fee discount program and billing and collections policies meet HRSA Health Center Program requirements, including annual sliding fee schedule updates based on the Federal Poverty Guidelines.
• Works with Compliance on coding and billing audits and on correcting any findings.
• Recommends revenue enhancement strategies and expenditure controls.

Credentialing & Privileging

• Oversees credentialing and privileging of licensed and certified clinical staff in line with HRSA Health Center Program, FTCA deeming, payer, and accreditation (AAAHC and CARF) requirements.
• Works with the Chief Medical Officer and clinical leadership on privileging decisions and the approval process.
• Coordinates credentialing with payer enrollment so providers can bill without delay.
• Keeps credentialing and privileging files audit-ready for HRSA Operational Site Visits, FTCA deeming applications, accreditation surveys, and payer audits.

Information Technology

• Provides strategic and financial oversight of Information Technology initiatives.
• Manages the IT cost center, including the operating budget, technology capital plan, and return on technology investments.
• Works with the Senior Director of IT to set the IT strategic plan in line with organizational priorities.
• Maintains accountability for the reliability and data integrity of the EHR and financial systems that support billing and reporting.
• Provides executive accountability for HIPAA Security Rule compliance, cybersecurity risk, and disaster recovery and business continuity planning.
• Approves major technology vendor selections and contracts and monitors overall technology spend.
• Sponsors IT governance and data access practices that support UDS, quality, and payer reporting so leaders have timely, accurate data.

Business Operations

• Ensures leaders receive timely financial and operational reports with clear analysis of variances, trends, and business performance.
• Develops and regularly revises policies, procedures, and protocols that support business strategy and operations.
• Monitors and evaluates space, staffing, equipment, and supply needs against budget and revenue.
• Oversees purchasing, contract management, and vendor relationships in line with federal procurement standards.
• Maintains effective communication with all areas of the organization.

SKILLS / KNOWLEDGE / ABILITIES:

• FQHC reimbursement, including Medicare and Medicaid PPS, wraparound payments, managed care, value-based payment, and the sliding fee discount program.
• HRSA Health Center Program requirements, Uniform Guidance (2 CFR 200), and the 340B Drug Pricing Program.
• Nonprofit accounting (GAAP), budgeting, financial modeling, and internal controls.
• Revenue cycle operations and KPIs.
• Working knowledge of healthcare IT, EHR systems, HIPAA privacy and security, and cybersecurity risk management.
• Credentialing and privileging standards (HRSA, FTCA, payers, and accreditation bodies).

EDUCATION / LICENSES / CERTIFICATES:

Master's degree in accounting, finance, business administration, or healthcare administration required. A bachelor's degree with 10 or more years of progressive financial leadership experience may be considered in place of a master's degree. CPA preferred.

EXPERIENCE:

• At least 5 years of progressive financial leadership experience in a Federally Qualified Health Center (FQHC) or FQHC Look-Alike required, with 7 or more years preferred.
• Supervisory experience leading multiple departments required.
• Direct experience with FQHC PPS reimbursement, Medicare and Medicaid cost reports, UDS financial reporting, and HRSA grant management required.
• In-depth experience overseeing revenue cycle functions in an FQHC or other healthcare organization required.
• Experience preparing for HRSA Operational Site Visits and annual Single Audits preferred.
• Experience providing strategic or financial oversight of an IT function preferred.

ABILITIES:

• Work under pressure on several projects at once and meet deadlines amid changing priorities.
• Facilitate meetings and build consensus inside and outside the organization.
• Explain financial and technical issues clearly to the Board, managers, staff, and external audiences.
• Exercise sound judgment and diplomacy and maintain confidentiality.

PHYSICAL REQUIREMENTS

Primarily office-based work with frequent telephone and computer use, requiring manual dexterity for writing and computer use. Sitting, standing, or walking for extended periods of time. Specific vision abilities required by this job include close vision, distance vision, and the ability to adjust focus. Occasional lifting of up to 20 pounds. Travel between organization locations as needed. Possible exposure to patients with illnesses or infections when visiting clinical sites. Use of Personal Protective Equipment (PPE) as required.

CLIENT POPULATION SERVED:

N/A

Who we are:

Cherry Health, Michigan’s largest Federally Qualified Health Center (FQHC), operates in six counties across the state, is based in Grand Rapids. With a team of more than 650 health care professionals at 20 locations, Cherry Health focuses on removing barriers, expanding access, and delivering comprehensive quality health care services to underserved communities, regardless of an individual’s insurance status or ability to pay. We provide primary care, dental, vision, behavioral health, pharmacy services, substance abuse services, residential re-entry services, school-based health centers and more.

Our Mission: 

Cherry Health provides comprehensive, high quality healthcare for all.

Our Vision: 

Lives are transformed by creating a healthier community where every person has their best opportunity to thrive.

Our Values:

• Collaboration – Support the Cherry Health mission by encouraging teamwork to accomplish organizational goals.
• Welcoming – We create an inclusive, respectful environment where everyone feels valued, supported, and comfortable contributing.
• Innovation – Embrace creativity to improve patient care and workplace efficiency while remaining curious and open to learning.
• Integrity – Uphold the highest ethical standards by being honest and trustworthy.
• Professionalism – Create a positive work environment where we care accountable for our decision, our action and the results.

Benefits:

Cherry Health has excellent benefit offerings dependent on employment status.  Check out a sample of the benefits available to our team members below!

• Loan repayment through the NHSC and Michigan State Loan Repayment Program for select roles
• Medical, Dental and Vision Insurance for you and your family
• Generous Paid Time Off benefit – 4 weeks per year for full time
• Paid holidays - 8 full day paid holidays (Including Black Friday!) and 2 half day paid holidays!
• 403(b) Retirement Savings Plan with generous employer match - $ for $ match up to 5% 
• MET and MESP 529 Savings Plans
• Pet Insurance!
• Employee Assistance Program  

Our policy is to offer all employees and applicants for employment equal opportunity without regard to race, color, religion, gender, national origin, age, disability, genetic information, marital status, height, weight, sexual orientation, gender identity, or status as a covered veteran in accordance with applicable federal, state and local laws, or any other protected category.