Vice President, instED Finance

Position Summary:

Our healthcare system is under tremendous pressure. The lack of capacity and access to quality care and rising costs, coupled with increasing consumer expectations of on-demand services, have emphasized the need for innovative care delivery models that go beyond the traditional methods of caring for patients. Many people turn to Emergency Departments (ED) because they have few or no alternatives, leading to fragmented care and $8.3B spent on unnecessary ED visits each year.

instED was founded to help solve these very problems. We offer on-demand, episodic, acute care in place, serving our patients where they are, when they need it, as an extension of their longitudinal care teams. We strive to eliminate unnecessary and avoidable visits to Emergency Departments and the inpatient hospital admissions that often follow, by offering quality acute care services in the comfort of the patient's home. Come join this early-stage, innovative, growing company and team, and help deliver healthcare of the 21st century!

The Vice President of Finance will direct our financial strategy with an emphasis on innovation, growth, and scalability. Reporting to the Chief Executive Officer, the VP is a key member of the leadership team with primary responsibility for system-wide financial planning, budgeting, reporting and analysis. The VP will identify/hire a strong outsourced partner to provide back-office finance and accounting functions at the right time and identify/implement an enterprise resource planning (ERP) system. In addition, the VP will provide oversight and monitoring of the outsourced partner's performance. This individual will be responsible for developing, planning and reviewing financial performance at quarterly board meetings. The individual will be responsible for financial performance and reconciliation in Quarterly Business Reviews with Leadership as well as with external business partners. The ideal candidate will have a strong background in building scalable financial operations at early-stage healthcare companies. The individual should have past experience with risk based financial arrangements and the ability to navigate though and talk performance against such risk based arrangements.

Supervision Exercised:

Yes, which includes but is not limited to providing leadership, work direction, and performance feedback to subordinate staff.

Essential Duties & Responsibilities:

Strategic Leadership

• Advise the CEO and leadership team on financial planning, budgeting, and forecasting
• Formulate a 3-year strategic plan and lead capital planning initiatives
• Prepare actionable financial reports and present to the Board of Directors on a monthly and ad hoc basis
• Lead the process of bringing financial operations in-house, ensuring that systems and processes are efficient and scalable.
• Manage an outsourced partner that provides accounting and finance functions to support company goals and objectives
• Conduct short and long-term financial plan and risk management strategies to promote sustainability and profitability
• Exercise negotiation, persuasion, and advisory skills with high-level individuals outside the organization
• Solve complex problems where data analysis requires an evaluation of intangible factors and exercise judgment in developing methods and evaluation criteria for obtaining results

Financial Management

• Oversee financial operations including accounting, budgeting, cash flow, forecasting, risk mitigation and insurances, compliance, financial reporting, auditing, and accounts payable/accounts receivable
• Develop automation with processes and procedures with integrated technology solutions
• Establish standard operating procedures to implement scalable financial systems
• Implement and oversee a formal capital planning process
• Develop internal controls to mitigate risk and enhance performance

Fundraising

• Manage investor relationships, prepare pitch materials, and secure debt and equity financing in conjunction with the CEO and Board Chair
• Oversee cash flow planning to ensure financial health and liquidity
• Support potential merger and acquisitions opportunities, joint ventures, or strategic partnerships that align with strategic objectives

Revenue Cycle Management

• Oversee the end-to-end revenue cycle process, including patient registration, billing, coding, claims submission, and payment collection.
• Ensure compliance with healthcare regulations, payer requirements, and industry standards for claims processing and reimbursement.
• Analyze and improve RCM workflows to enhance efficiency, reduce denials, and increase revenue capture.
• Monitor and manage key performance indicators (KPIs), such as days in accounts receivable (AR), denial rates, and collection rates.
• Develop and implement strategies to address claim rejections, underpayments, and delays in reimbursement.
• Lead and train teams in billing, coding, and collections to ensure accuracy and adherence to best practices

Procurement

• Establish procurement strategies that drive cost optimization and align with organizational financial goals
• Oversee procurement expenditures to identify cost-saving opportunities and maximize efficiency
• Develop procurement policies and procedures and ensure adherence to regulatory requirements
• Support business units with procurement analytics to inform decision-making
• Participate or lead vendor negotiations and contract management ensuring alignment with organizational goals

Compliance and Regulatory Oversight

• Develop and implement policies and procedures that are fully compliant with HIPAA, CMS guidelines, and other required standards
• Develop and implement policies and procedures that safeguard sensitive patient and business data

Working Conditions:

• Standard office conditions.

Required Education (must have):

• Bachelor's Degree in Finance, Accounting, or Business Administration, or related field

Desired Education (nice to have):

• MBA

Desired Licensing (nice to have):

• CPA license

Required Experience (must have):

• 10-15 years progressive senior leadership experience in financial planning and analysis, preferably in a healthcare or technology company
• Proven experience building financial forecast and cash flow models
• Considerable experience raising capital in the venture capital space
• Highly self-motivated leader who can thrive in an ever-changing face-paced environment
• Proven success at driving financial performance to achieve growth and strategic objectives
• Excels in financial modeling, budgeting, forecasting, and cash flow management and ability to simplify and share data that is actionable
• Proven track record in fundraising and capital management, and strong relationships with investors
• Experience with alternative reimbursement models in healthcare strongly preferred
• Knowledgeable with federal and state healthcare regulations and compliance requirements

Required Knowledge, Skills & Abilities (must have):

• Microsoft Office suite
• Accounting systems (QuickBooks, NetSuite, Intacct)
• Solid organizational skills and ability to balance multiple priorities in a dynamic environment; ability to drive process improvements and develop analytical/reporting tools.
• Excellent communication skills (both written and oral) with ability to clearly present to Board of Directors
• Excellent analytical skills and solid understanding of GAAP
• Strong financial planning experience required, including preparation of complex annual and long-term budgets
• Deep understanding of alternate payment models in healthcare and compliance regulations as it relates to billing and reimbursement

Required Language (must have):

• English