The Chief Financial Officer (CFO) of the Commonwealth Healthcare Corporation oversees the financial operations of the Corporation and all of its departments. CHCC's CFO ensures that patients are receiving quality care, and doctors and nurses are working within budget. The CFO is responsible for planning, implementing and evaluating the fiscal performance and ensuring the long-term financial future of the Corporation.
The chief financial officer is responsible for all the functions related to the financial operations of a hospital. These responsibilities include the accounting, insurance, financial systems and auditing of all medical departments. CFOs gather and analyze all the financial data and information to make sure the hospital is operating within budget and to determine how to allocate funds to various areas. These officers create detailed reports of their findings and must explain to department heads and boards of directors why these financial decisions are being made.
The CHCC's CFO works to ensure that all administrators, doctors, nurses and other medical professionals are compliant with any budgetary practices. It is the duty of the CFO to listen to the concerns of the medical professionals within a the Corporation and to take them into consideration when making financial decisions. Also, the CFO coordinates meetings among staff members on a regular basis, which ensures that all medical professionals are kept up-to-date on all hospital-related matters. The CFO ensures the compliance of all financial policies, objectives and deadlines.