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- Tasks: Join our CFO in Training programme to develop financial leadership skills in a healthcare setting.
- Company: Universal Health Services, Inc. is a leading provider of hospital and healthcare services with a strong reputation.
- Benefits: Enjoy competitive pay, excellent health plans, 401k matching, and generous paid time off.
- Why this job: Fast-track your career as a future CFO while making a real impact in behavioural health.
- Qualifications: You need a Bachelor's degree in accounting and 5 years of financial experience in healthcare.
- Other info: Relocation assistance provided after training; opportunities across 300+ facilities nationwide.
The predicted salary is between 36000 - 60000 £ per year.
One of the nation’s largest and most respected providers of hospital and healthcare services, Universal Health Services, Inc. (UHS) has built an impressive record of achievement and performance. Growing steadily since its inception into an esteemed Fortune 500 corporation, annual revenues were $14.3 billion in 2023. During the year, UHS was again recognized as one of the World’s Most Admired Companies by Fortune; and listed in Forbes ranking of America’s Largest Public Companies. Headquartered in King of Prussia, PA, UHS has approximately 96,700 employees and continues to grow through its subsidiaries.
As the premier leader in Behavioral Health Services, UHS continues to grow its Behavioral Health Division through organic hospital development and acquisitions. Given this unprecedented growth we have developed an exciting program to harness and develop talent for future financial executive positions within our behavioral health hospitals and programs. Our CFO in Training development program has been designed to identify high potential hospital based financial leaders in the marketplace and internally within the UHS hospital system. Chosen candidates will be placed within a UHS free standing inpatient psychiatric facility and work closely under the tutelage of a Chief Financial Officer.
During the training period candidates will focus on key areas of the business, gaining expertise in the accounting and finance functions along with managing and creating a successful team. Focus on facility financial metrics including but not limited to, provider contracting, budget and strategic planning, Accounts Receivable, Business Office oversight, preparation of monthly and yearly financial packages, FTE management/staffing in relationship to patient volume to name a few.
The program prepares fast-track healthcare financial leaders to harness their talent and broaden knowledge of financial leadership within a UHS inpatient Acute Psychiatric Facility. Candidates that successfully complete the training will be placed as Chief Financial Officers within the UHS Behavioral Division. The knowledge you gain during this process from interactions and real-life work examples will help lay the groundwork for becoming a Financial Executive within our Behavioral Health Hospitals.
Throughout the years UHS has attracted and developed many talented hospital CFOs. Do you have what it takes to be a UHS Behavioral Health Hospital CFO?
Candidates must be open to relocation once training is successfully completed. UHS operates nearly 300+ Behavioral Health Facilities nationwide. Candidates that successfully complete the program will be placed in a Chief Financial Officer role and will need to be open to relocation. Relocation assistance is provided to candidates by UHS once the program is completed.
The successful Chief Financial Officer in training will work to develop the following skills and responsibilities:
- Monitor and control accounts receivable. Closely oversees Business Office functions to ensure cash collection goals are met, and net revenue is properly stated.
- Improve the profitability of the hospital. Continually monitor costs in all areas, especially staffing as it relates to patient volume.
- Develop and monitor policies and procedures within generally accepted accounting principles and corporate guidelines to ensure sufficient cash flow, reduced hospital operating costs, and increased revenues.
- Prepare monthly financial statements, financial packages, reports/analysis.
- Provide reconciliations, account analysis, and other information for Reimbursement Department, Tax Department, Auditors, etc., to aid in preparation of reports.
- Prepare annual budget in conjunction with UHS standards. In cooperation with management and department heads, review prior financial results and discuss anticipated changes to highlight future needs and trends of the facility.
Qualifications:
- Minimum of 5 years of experience in a financial role in an inpatient healthcare setting, Acute Care Hospital or behavioral health.
- Minimum education requirement of a Bachelors degree in accounting, masters degree preferred.
- Experience in multiple areas of healthcare finance and accounting required AP/AR, payroll, accounting, business office, financial counseling, budgeting etc.
This Opportunity offers the following:
- Challenging and rewarding work environment
- Growth and Development Opportunities within UHS and its Subsidiaries
- Competitive Compensation
- Excellent Medical, Dental, Vision and Prescription Drug Plan
- 401k plan with company match
- Generous Paid Time Off
Contact Detail:
Job Traffic Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land CFO in Training
✨Tip Number 1
Familiarise yourself with the specific financial metrics and challenges faced by healthcare facilities, particularly in behavioural health. Understanding these nuances will help you stand out during interviews and discussions.
✨Tip Number 2
Network with professionals already working in healthcare finance, especially those in CFO roles or similar positions. Engaging with them can provide insights into the role and may even lead to referrals within UHS.
✨Tip Number 3
Demonstrate your leadership skills by seeking opportunities to manage projects or teams in your current role. Highlighting your ability to lead and develop others will be crucial for a position that focuses on team management.
✨Tip Number 4
Be prepared to discuss your experience with budgeting and financial reporting in detail. UHS is looking for candidates who can not only manage finances but also contribute to strategic planning and decision-making.
We think you need these skills to ace CFO in Training
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in financial roles within healthcare settings. Emphasise your skills in areas like accounts receivable, budgeting, and financial analysis, as these are crucial for the CFO in Training position.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also demonstrates your passion for healthcare finance. Mention specific experiences that align with UHS's mission and values, and express your eagerness to contribute to their growth.
Highlight Leadership Skills: Since the role involves developing a successful team, be sure to include examples of your leadership experience. Discuss any previous roles where you managed teams or projects, focusing on how you improved performance or achieved financial goals.
Show Willingness to Relocate: As relocation is a requirement after training, make it clear in your application that you are open to moving. This shows your commitment to the role and willingness to adapt to new environments.
How to prepare for a job interview at Job Traffic
✨Know Your Numbers
As a CFO in Training, you'll need to demonstrate a strong grasp of financial metrics. Brush up on key financial statements and be prepared to discuss how you would monitor and control accounts receivable, as well as improve profitability.
✨Understand the Healthcare Landscape
Familiarise yourself with the specific challenges and trends in healthcare finance, especially in behavioural health. Being able to discuss these topics will show your commitment and understanding of the industry.
✨Showcase Leadership Skills
Since this role involves managing teams, be ready to share examples of your leadership experience. Discuss how you've successfully led teams in the past and how you plan to develop your team in the future.
✨Prepare for Scenario Questions
Expect scenario-based questions that assess your problem-solving skills. Think about potential challenges you might face in the role and how you would address them, particularly in relation to budgeting and financial planning.
