Vice President, Finance and Chief Financial Officer
Health New England
Health New England is seeking a seasoned and dynamic healthcare finance leader to serve as its next Vice President, Finance & Chief Financial Officer (CFO) for this health plan that is singularly owned by Baystate Health System, the largest and most vibrant system serving western Massachusetts. With $900 million in premium revenue, this strong regional player is seeking an enthusiastic and collaborative executive to lead key initiatives around improving the financial health of the organization, instilling a monthly discipline to the financials, and increasing the financial knowledge of the organization overall. The Vice President, Finance & Chief Financial Officer will report to the President and Chief Executive Officer of Health New England and have a dotted line relationship to the CFO of Baystate Health. The individual will also serve as a key member of the executive leadership team of Health New England.
The Vice President, Finance & CFO is expected to contribute to the execution of the strategic direction for the organization, proactively monitor financial performance, and recommend / implement corrective action strategies. This individual will provide financial advice to the CEO and other members of the Executive Leadership team as appropriate.
This role will also work cooperatively with the Chief Medical Officer to implement medical management initiatives to ensure the financial stability of the organization. Further, the CFO is responsible for leading the profitable growth and management of Health New England with direct oversight of provider contracting and underwriting. In addition, the CFO is responsible for the integrity of financial reporting and actively reports on financial performance and other relevant information to the Board of Directors on a regular basis.
The ideal candidate will have a minimum of ten years experience in finance with progressive levels of responsibility within managed care or the insurance industry. An MBA or equivalent graduate degree is preferred or relevant experience at a similar organizational level.
Health New England, Inc. (HNE), is one of the largest managed care companies in the region, with more than 200,000 members in western Massachusetts and surrounding communities. HNE is singularly owned by Baystate Health System, the largest and most vibrant system serving Western Massachusetts. HNE has been consistently ranked as one of the top ten private health plans in the county by NCQA. HNE is a not-for-profit, independent practice model health maintenance organization with business today consisting of three key components: Commercial covering 120,000 lives, Medicaid covering 65,000 lives and Medicare covering 9,500 lives. In addition, HNE performs back office services for another health plan covering over 20,000 lives.
The Connecticut River is the centerpiece of the Greater Springfield area and the surrounding communities embrace the entire spectrum of New England lifestyles, from urban living in the Victorian brick row homes on Springfield’s picturesque Mattoon Street to a simple log cabin set beneath rolling hills in Hampden. Supporting a population of nearly 280,000 people, the business community includes high-tech manufacturing, insurance, tourism, healthcare providers, and an astounding variety of retail goods and services designed to meet the needs of every lifestyle. In the “City of Homes”, as Springfield is often called, and its surrounding communities, beautiful housing for every taste and lifestyle is available at a cost significantly less than in the eastern part of Massachusetts.
Contributing to the region’s economy are several premier colleges and universities, including Amherst, Hampshire, Mount Holyoke, Smith, and the University of Massachusetts. Western Massachusetts offers an abundance of recreational activities. Cultural attractions include museums, libraries, theatres, and galleries, supported by the presence of the areas colleges and universities. Easily accessible lakes, rivers, and trails abound to challenge the area’s many fishing, hiking, cycling, and skiing enthusiasts, and the region contains approximately 20 golf courses. The region is convenient to the western Massachusetts’ Berkshire Mountains, a premier recreational and cultural destination.
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About Phillips DiPisa
Phillips DiPisa is a retained executive search firm serving the healthcare and life sciences industries. Ranked as one of the top healthcare recruiting firms in the country, Phillips DiPisa is known for being Leaders in Recruiting Leaders by its growing base of clients across the country, drawing on a national pool of candidates.