Chief Financial Officer, Rush University Medical Group

Rush System for Health

  • Location: Chicago, IL

The Rush System for Health is a not-for-profit enterprise comprised of Rush University Medical Center and Rush University in Chicago; Rush-Copley Medical Center in Aurora, Illinois; Rush Oak Park Hospital in Oak Park, Illinois; and numerous outpatient care facilities. Rush University, with more than 2,500 students, is a health sciences university comprised of Rush Medical College, the College of Nursing, the College of Health Sciences and the Graduate College.Grant Cooper, an executive search firm, is seeking a Chief Financial Officer for Rush University Medical Group, Chicago, IL.

Rush University Medical Group (RUMG) is the 690-provider academic medical practice of Rush Medical College and Rush University Medical Center. The group was formed in 2005 as Rush brought together employed and some private practices to create this operating division. In addition to 30 clinic sites at Rush University Medical Center, Rush has practices in 10 off-campus locations. Currently, the practice generates $270 million in net revenues annually. Significant educational and research activities occur in the clinical departments as well.

Rush-Copley Medical Center is a 210-bed hospital providing health and wellness services to the greater Fox Valley community. Nearly 500 physicians and 2,000 clinical and professional staff members provide advanced medicine and extraordinary care to patients. Culminating a 30-year affiliation, Rush-Copley fully integrated with Rush University Medical Center in March 2017.

In 1997, Rush Oak Park Hospital partnered with Rush University Medical Center. In 2013, Rush University Medical Center acquired the hospital outright, solidifying its continued investment in community health care. With 95 beds, Rush Oak Park Hospital offers the same high standards of care as Rush University Medical Center, and many specialists practice at both hospitals. The partnership provides patients with collaborative care at the highest level.

Position Overview

In an evolving role, the Chief Financial Officer will provide leadership and control of the health system’s medical group operations, which will include a measured system integration over several years. Initially, the Chief Financial Officer will be responsible for the financial oversight of educational and research activities in addition to clinical operations, as well as the revenue cycle’s performance for Rush University Medical Group at Rush University Medical Center. Over time, responsibilities will expand to Rush Oak Park Medical Group and Rush-Copley Medical Group. The Chief Financial Officer will be a dynamic finance executive with outstanding communication skills, customer service orientation, and demonstrated leadership skills in a fast pace, complex environment. This role reports to the physician President of Rush University Medical Group as well as the Chief Financial Officer and Senior Vice President of Finance of Rush University Medical Center and Rush System for Health.

Essential Accountabilities

  • Responsible for collaboratively developing and implementing financial strategy to ensure support of the missions of Rush System for Health.
  • Oversees budget development; including clinical, teaching and research budgets. Reviews and recommends budget proposals of departments and presents a consolidated budget to health system leadership. Prepares and oversees the budgets of all administrative units and collaborates system-wide in reviewing the Clinical Department budget submissions.
  • Responsible for the analysis of month end, and year-end financial reports; including, the analysis of Clinical Department operating results.
  • Responsible for implementing department and unit corrective action plans when there are significant negative variances, subject to the approval of the Finance Committees.
  • Administers the clinical department CARTS-based allocation (funds flow) of institutional support.
  • Provides leadership and staff support to the finance committees. Oversees the development of financial planning data to fully analyze new and existing programs; including financial reviews of strategic recruitment, etc.
  • In collaboration with Rush Corporate Human Resources, administers the clinical compensation and incentive plans to providers; to insure department plans are financially sound, productivity data is presented to providers and departments on a timely and accurate basis, and incentives are paid according to plan.
  • Participates in the corporate capital budgeting process.
  • Oversees the invoicing for provider service contracts. Coordinates with departmental management, legal staff, and others reviewing and approving contracts.
  • Coordinates with the revenue cycle management team to insure resolution of front-end revenue cycle issues and provides analytic support as needed.
  • Works collaboratively with the clinical departments and Rush Corporate counterparts to ensure patient service revenue is correctly captured.

Qualifications

  • Master’s degree in finance or business required, CPA preferred.
  • Eight years of experience in a financial management role in academic healthcare/medical school setting or large integrated delivery system highly desirable.