Chief Financial Officer

Job Title: Chief Financial Officer (Hospital Background)

Department: Finance

Reporting to: Executive Director

Location: Pune

Experience Required: 10+ Years

CTC: Upto 50 LPA

Qualifications: Preferably a Chartered Accountant (CA) or Commerce Graduate with an MBA in Finance

The Chief Finance Officer (CFO) will be responsible for the complete financial management of the hospital. This includes overseeing accounting, budgeting, billing, claims management, audits, compliance, and strategic financial planning. The role demands close coordination with hospital leadership to ensure financial integrity, operational efficiency, and sustained profitability.

Key Responsibilities

1. Financial Management

- Implement responsible accounting systems including budgeting and internal controls.

- Submit monthly fund requirements and ensure expenditures remain within budget.

- Manage vendor, contractor, and supplier payments per policy, ensuring accurate record-keeping.

- Oversee daily cash collections and ensure timely deposits.

- Prepare and submit monthly financial statements and bi-weekly productivity reports.

- Reconcile all balance sheet accounts monthly and maintain effective internal controls for clean audit reports.

- Ensure robust revenue cycle processes to maintain healthy receivables and cash flow.

- Manage patient financial services to maximize collections while maintaining stakeholder relations.

- Oversee financial reporting, variance analysis, audit preparedness, and insurance coverage.

- Calculate and disburse hospital consultants revenue share as per policy, including statutory deductions and TDS.

2. Strategic Planning

- Collaborate with hospital leadership and stakeholders to formulate and implement the hospitals financial plan.

- Provide proactive guidance on asset management, investment strategies, and financial trend analysis.
- Develop long-term and short-term financial goals.

- Monitor capital asset expenditures and depreciation; manage annual budgets, capital budgets, and cash flow forecasts.

- Maintain banking relationships and arrange for credit facilities as needed.

3. Audits & Controls

- Coordinate audits with external/internal auditors appointed by the management.

- Ensure tax compliance and settlement of outstanding financial matters within deadlines.

- Develop processes to meet audit requirements and streamline financial workflows.

- Evaluate departments as independent profit centers and present quarterly profitability reports to management.

4. Legal and Statutory Compliance

- Liaise with the Company Secretary for compliance with Companies Act and applicable legal frameworks.

- Ensure timely filing of Income Tax returns and handle all TDS-related responsibilities.

- Ensure deduction and deposit of taxes for contractors and service providers as per applicable laws.

5. Billing Management

- Supervise overall billing department operations ensuring transparent billing processes.

- Conduct market research and prepare comparative statements for tariff revisions.

- Monitor recovery of pending patient bills and resolve billing-related queries.

- Handle sensitive or escalated billing issues with discretion and professionalism.

6. Claims and Mediclaim

- Oversee daily operations of the Claims & Mediclaim department.

- Ensure compilation and ageing analysis of claims TPA-wise.

- Monitor collection of claims as per TPA agreements.
- Oversee collections from PSUs and corporate clients.

- Identify documentation gaps and coordinate with hospital TPA desks for resolution.

- Follow up with TPAs for timely clearance of pending files.