Virtual Financial Manager

1. Financial Analysis & Profitability Management
? Monitor, analyze, and optimize business finances to ensure a 16-20% profitability margin.
? Review & manage P&L (Profit & Loss) statements to track revenue, expenses, and profitability.
? Ensure payroll expenses align with revenue generation—every employee must produce at least 5x their pay in revenue.
? Maintain financial benchmarks for all P&L line items, ensuring they stay within industry standards.
? Identify and eliminate financial inefficiencies that negatively impact profitability.
? Develop cost-saving strategies while maintaining operational efficiency.

2. Financial Reporting & Data Analysis
? Generate detailed financial reports and dashboards to track key performance indicators (KPIs), including:

Revenue trends & profitability tracking.
Collection efficiency (patient & insurance).
Employee productivity vs. payroll expenses.
Treatment acceptance and case conversion rates.
New patient acquisition & retention metrics.
? Build and manage spreadsheets with formulas to automate financial tracking and forecasting.
? Create presentations & reports to help the VBM make data-driven operational decisions.
? Identify growth opportunities through financial trends and report insights.

3. Vendor Negotiation & Cost Management
? Negotiate contracts with vendors to optimize expenses while maintaining quality.
? Ensure vendor costs align with industry standards and provide the best return on investment.
? Evaluate supply costs, lab fees, and equipment expenses for efficiency.
? Analyze insurance reimbursements and strategize for better fee schedules.

4. Strategic Business & Profit-Building Duties
? Work closely with the VBM to align operational and financial goals.
? Optimize scheduling and maximize chair time profitability.
? Monitor treatment acceptance rates and identify lost revenue opportunities.
? Assess the ROI of marketing efforts, tracking which campaigns bring the most profitable patients.
? Implement new revenue streams, such as additional services or partnerships.
? Track insurance claim processing times and ensure all payments are collected within 30 days.
? Review accounts receivable and outstanding balances to improve cash flow.
? Work with the remote billing team to ensure accurate coding, claim submission, and collections.

5. Payroll & Team Productivity Oversight
? Ensure payroll costs do not exceed revenue benchmarks.
? Monitor each teaUpgrade to see actual infomber’s performance to ensure they are bringing in at least 5x their pay in revenue.
? Track downtime and inefficiencies to identify areas where the team can be more productive.
? Identify overstaffing or understaffing concerns based on workload and patient demand.
? Evaluate performance-based compensation plans to align employee incentives with business growth.

6. Checks & Balances with the Virtual Business Manager (VBM)
? Work closely with the VBM to ensure operations and financials align.
? Validate production and collection goals with real-time financial data.
? Ensure treatment planning, scheduling, and collections are meeting financial targets.
? Provide financial guidance for business decisions and investments.
? Consult with leadership for approval on major policies & protocols but make data-driven decisions independently.


Success Metrics for This Role
?? 16-20% profitability margin maintained consistently.
?? Payroll-to-production ratio optimized (every employee generates 5x their salary).
?? All P&L benchmarks met and expenses controlled.
?? 98% collection efficiency (patient & insurance payments).
?? Financial reports & insights drive business decisions.
?? Vendor costs negotiated to improve profitability.
?? Schedule optimized for revenue production.