Founded in 2018 and brought to you by BayCare, BayCarePlus Medicare Advantage (HMO) plans were created to help the Tampa Bay area Medicare community easily access high quality, affordable health care. BayCare Health System has been proudly serving the Tampa Bay area and central Florida region since 1997. They care about their community and recognize the need for local Medicare beneficiaries to have a high-quality health plan that’s affordable and accessible. BayCare Health System listened and learned from the experiences of Medicare patients and based on what they learned, created three plans that are designed not only to provide more benefits and savings, but also a better overall health care experience. BayCarePlus currently serves over 13,000 covered lives in Hillsborough, Pasco, Pinellas, and Polk Counties and is one of the fasted growing Medicare Advantage plans in the nation.
Position Overview
The Chief Financial Officer is considered the lead finance position within the Insurance Division. The primary goals of the position are to be the financial advisor to the CEO of the health plan, ensuring accurate financial reporting, as well as provide leadership and vision to the insurance division. In addition, the CFO will work collaboratively with BayCare Health System, including the Finance division, to support the mission of the System as well as the goals of the health plan.
The CFO’s key responsibilities include:
- The CFO is accountable for the review and financial analysis of the financial statements generated by BayCare System Finance
- Responsible for reviewing and ensuring agreement with judgmental closing entries exists
- Directly responsible for the Incurred but not reported analysis to support the closing entry for the monthly financial statements
- Will maintain accountability and coordination of all internal and external audits for the Health Plan
- Continuously identify opportunities to reduce administrative costs and medical expenses for the Insurance Division and ultimately BayCare Health System
- Will work with outside actuaries to support the bid submission and improve overall financial results
- Work collaboratively with TPA and the PHSO to identify revenue opportunities and provide financial support to increase growth and member retention of the Health Plan
- Work closely with the Finance Shared Services team and its outside actuaries to complete the Health Plan Forecast of premium revenue and medical cost
- Routinely generate and review Statutory Financial Statements for accuracy and completeness in a timely manner
- Responsible for Vendor Management, including responsibility for coding of all invoices
- Responsible for presenting accurate and comprehensive Financials and Forecast reports to the Board of Directors as required
- Continuously ensure appropriate Internal Audit Coordination with BayCare Health System to meet regulatory requirements
- Effectively coordinate with the BayCare Health System Shared Services Finance Team to ensure accurate and timely month end close
- Will oversee the coordination of all operational functions outsourced to the TPA
- As required will prepare quarterly capital and surplus requirement analysis for potential capital contribution needs
- Responsible for the accurate preparation of premium billing deficiency reserve analysis/calculation
Qualifications:
- CPA Certification is preferred
- Bachelor’s degree required and MBA, MHA or equivalent degree preferred.
- 12+ years of Statutory and GAAP Accounting, inclusive of strong analytical experience
- 7+ years Finance Leadership in the health insurance industry and, preferably, experience within a Medicare Advantage plan.
