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Chief Financial Officer - Prominence Health Plan

Company: Universal Health Services, Inc.
Location: Reno
Posted on: January 16, 2022

Job Description:

One of the nation's largest and most respected providers of hospital and healthcare services, Universal Health Services, Inc. has built an impressive record of achievement and performance. Growing steadily since its inception into an esteemed Fortune 500 corporation, annual revenues were $11.6 billion in 2020. In 2021, UHS was again recognized as one of the World's Most Admired Companies by Fortune; in 2020, ranked #281 on the Fortune 500; and listed #330 in Forbes ranking of U.S.' Largest Public Companies. Headquartered in King of Prussia, PA, UHS has 89,000 employees and through its subsidiaries operates 26 acute care hospitals, 334 behavioral health facilities, 39 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services located in 38 U.S. states, Washington, D.C., Puerto Rico and the United Kingdom.
The Chief Financial Officer (CFO) is an executive level management position of Prominence Health Plan responsible for the financial activities of the Prominence Health Plan companies. Responsibilities include Health Plans accounting and financial reporting, regulatory and statutory accounting, planning and analysis, budgeting, oversight of actuarial services, underwriting and financial pricing decisions, IBNR reserve preparation, premium billing and collection, and oversight and coordination with the centralized accounting, reporting, and accounts payable functions provided by corporate accounting. Additionally, this executive is responsible for the coordination of the annual reinsurance program. This executive also actively participates with the CEO and other key executives in the development and implementation of key strategic initiatives. The CFO reports directly to the CEO. Master's degree required, a minimum of 8-10 years of experience. Travel: Ability and flexibility to travel to current and future markets - 20%+ travel.

  • Leads and manage respective functional areas: accounting, financial reporting, regulatory reporting and statutory accounting, actuarial services, premium billing, and accounts payable. -
  • Supervises the Health Plan financial reporting process. -
  • Supervises the preparation of reports outlining the Health Plan's financial position and operating profit and loss statement. -
  • Supervises the preparation and timely filing of federal and state financial reports as required.
  • Works cooperatively with UHS's corporate financial services on all Health Plan Financial matter.
  • Ensures connectivity of Prominence Health Plan infrastructure development to broader UHS corporate value-based care strategy.
  • Manages relationships with respective outsourced vendors, partners, and key provider groups.
  • Initiates and drives activities to advance quality, improve member, provider, and employee satisfaction, optimize revenue, reduce expenses, and increase productivity.
  • Oversees the budgets for each of the functional areas, review monthly, and ensure performance is achieved.
  • Ensures data-driven decision making across the organization through robust and proactive analytics strategy.
  • Represents Prominence Health Plan and UHS strategic initiatives in all its respective and future markets to external partner, prospective employees, etc. Serve as back up to CEO when needed.
  • Executes and implements the organization's strategic goals by interfacing and ensuring connectivity across the organization's leadership.
  • Develops and implements initiatives to contribute to strategic and profitable growth of organization.
  • Performs other duties as necessary and assigneds Qualifications Broad Knowledge:
    • Health Plan Financial reporting, accounting, and analytics.
      • GAAP, Statutory, and Management reporting.
      • AP/AR oversight.
      • IBNR.
      • Actuarial services.
      • Cash flow management.
      • Annual budgeting and strategic financial planning.
      • M&A Activity, Investor Relations, Joint Venture Investments.
      • Lines of Business.
        • Medicare Advantage, Commercial, Self-Funded/ASO.
        • Extensive understanding of Medicare Advantage and Federal program financials.
        • Significant experience with Bid Submission.
        • Medicare Advantage Risk Adjustment & STARS.
        • Commercial business underwriting.
        • RBC - Risk Based Capital.
        • Traditional payer contracting, value-based contracting including risk and capitation.
        • Experience with other Federal Medicare programs - ACO models, MSSP programs, Direct contracting, PBCI, Etc. Culture/Character Fit:
          • Team leader and individual contributor.
          • Start up and turn around culture managed by a Fortune 300 entity.
          • Strategic perspective on the industry with ability to be hands on and comfortable with the details.
          • Passion for execution.
          • Nimble organization with decision making power and limited politics.
          • Passion for being part of driving healthcare initiatives and change under a broader population health, value-based strategy.
          • Significant experience traversing deep financial details and activities and summarizing to more strategic and directional conclusions for corporate oversight and organizational execution. Skills:
            • Ability to effectively communicate in English, both verbally and in writing.
            • Strategic but practical thinker that can take concepts from its initial stage through implementation to administration.
            • Excellent communicator who is equally comfortable with external stakeholders as well as internal stakeholders.
            • Demonstrated ability to build a highly functioning team and to mentor direct reports.
            • Experience with Commercial, self-funded, and Medicare Advantage products.
            • Proven ability to foster collaboration between divergent stakeholders.
            • High degree of credibility with key stakeholders based on past accomplishments.
            • Experience in negotiating complex provider reimbursement arrangement and complex third-party contracts.
            • Adept in managing outsourced vendor relationships in compliance with NCQA and CMS delegated entity rules.
            • Comfortable in managing interfaces with Prominence functional areas and third-party partners.
            • Proven ability to drive organization through cultural change, focused on individual accountability and performance.
            • Solid understanding of health plan key financial drivers.
            • Service excellence orientation toward external and internal stakeholders UHS is not accepting unsolicited assistance from search firms for this employment opportunity. Please, no phone calls or emails. All resumes submitted by search firms to any employee at UHS via-email, the Internet or in any form and/or method without a valid written search agreement in place for this position will be deemed the sole property of UHS. No fee will be paid in the event the candidate is hired by UHS as a result of the referral or through other means.
              EEO Statement
              All UHS subsidiaries are committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants and teammates. UHS subsidiaries are equal opportunity employers and as such, openly support and fully commit to recruitment, selection, placement, promotion and compensation of individuals without regard to race, color, religion, age, sex (including pregnancy, gender identity, and sexual orientation), genetic information, national origin, disability status, protected veteran status or any other characteristic protected by federal, state or local laws.
              We believe that diversity and inclusion among our teammates is critical to our success. Notice
              At UHS and all our subsidiaries, our Human Resources departments and recruiters are here to help prospective candidates by matching skillset and experience with the best possible career path at UHS and our subsidiaries. We take pride in creating a highly efficient and best in class candidate experience. During the recruitment process, no recruiter or employee will request financial or personal information (Social Security Number, credit card or bank information, etc.) from you via email. The recruiters will not email you from a public webmail client like Hotmail, Gmail, Yahoo Mail, etc. If you are suspicious of a job posting or job-related email mentioning UHS or its subsidiaries, let us know by contacting us at: or 1-800-852-3449.

Keywords: Universal Health Services, Inc., Reno , Chief Financial Officer - Prominence Health Plan, Accounting, Auditing , Reno, Nevada

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