Federally Qualified Health Center
One of Maryland’s highly acclaimed Federally Qualified Health Centers (FQHC), serving uninsured and underinsured individuals with comprehensive health care services in four locations, needed a new CFO when the incumbent resigned with no viable internal candidates on the horizon.
- Affordable Care Act
- Budgeting and Forecasting Software
- New Market Tax Credits
The CFO needed to have a strong healthcare background in managed care, Medicare/Medicaid, and FQHC. Additionally, solid technology skills were a critical requirement.
Mary Ann McClayton (Resource Manager at The Squires Group) was chosen to fill this position. Mary Ann contacted various Maryland- area FQHC’s to discuss the requirement. Her discussions proved that the target salary was not competitive for a local CFO. The recruiting challenge was to find a strong local Controller/Director candidate in the salary range with both the relevant health care skills and an aptitude for technology.
Mary Ann identified a candidate who, although he was not a CFO, had a successful track record in both managed care organizations and implementing technology-based improvements. She suggested an interview, although the candidate was not currently in a CFO role. After interviews with levels of the organization that reached up to the Board of Directors, the candidate was selected. An offer was made and accepted and the client had their new CFO with the specific skill set they were seeking.
The new CFO currently works closely with the CEO and Strategic and Tactical Planning team leading the organization in meeting its financial goals. Effective systems were implemented to monitor financial and operational performance, safeguard assets, and guide personnel to improve overall outcomes and their individual skill set. The CFO also works collaboratively with the Board and senior management to shape the strategic direction of the company. With the guidance of the new CFO, the organization has increased its managed care presence with the Affordable Care Act, implemented new software for budgeting and forecasting, and helped finance new construction while benefitting from new market tax credits.
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