Healthcare - Chief Operating Officer
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About the Company
Our client is a highly specialized, extremely successful healthcare practice with three Toronto-area offices and over 60 professional and support staff.
Scope of Position
Reporting directly to the Principals of the company the COO is responsible for all day-to-day operating functions of the business. This includes administration, supply chain, finance/accounting, human resources, real-estate, marketing and strategic planning.
- Reviews leasing and handles renegotiations as required. Deals directly with landlords on any leasing/property management issues.
- Handles all bank associated issues including executing transactions for payments as required, monitoring daily bank balance and fees. Deals with Account Manager as required for all banking related requirements.
- Reviews AP weekly. Signs all invoices for supply orders conducted by the Clinic(s). Ensures costing and volume are controlled. Questions where necessary. Deals with suppliers directly for inquiries on volume discounts and/or directs staff accordingly.
- Authorizes payments to suppliers. Provides information to Bookkeeper for execution.
- Develops and presents annual Business Plan for review. Follows up with Principals on progress throughout the year to ensure targets are met.
- Oversees and is directly knowledgeable on all OHIP related issues and functions. Follows up on progress and payment status.
- Follows up and ensures all annual memberships are renewed in a timely fashion.
- Follows up and ensures all annual insurance renewals are completed in a timely fashion both personal memberships for Principals and premise insurance. Regulates fees and inquires on discounts as required.
- Handles and manages all IT-support related issues.
- Handles and oversees all ERP software required for Practice Management, Financial, Dictation and Administrative software.
- Negotiates and handles all in-house leases including photocopy machines, water coolers, postage, etc.
- Reviews and deals with pricing for all maintenance agreements as required for Clinic equipment.
- Directly handles all issues related to equipment failure or repair and directs staff on how to proceed.
- Organizes and attends all professional staff meetings on a quarterly basis. Takes minutes, distributes and ensures tasks are followed up on and completed by all involved.
- Deals directly with PLP as required. Formulates letters and deals with patients directly when such issues arise.
- Ensures files, chart and inventory storage is maintained effectively.
- Special projects as required.
- Employment Law and procedures.
- Handle all employee related documents including offer letters, terminations, disciplinary action, confirmation of employment, etc.
- Oversees new hire process and recruitment procedures.
- Ensures business runs per regulations as set forth in Employment Standards Act. Develops Employee Handbook outlining expectations and Policies and Procedures.
- Develops all employee related training materials including Orientation Manuals, and Contingency Plans.
- Oversees all scheduling ensuring days are set up accordingly and productively.
- Reviews all staff scheduling to ensure hours are within reasonable limits and coverage is met.
- Creates and executes all annual Performance Evaluations for each and every staff member, in conjunction with Team Leaders. Conducts reviews with each staff member one on one.
- Reviews and approves all annual salary increases ensuring they reflect industry standards and budget limits.
- Enter all payroll bi-weekly into Ceridian payroll software. Follow up on hours, sick time, vacation pay. Ensures all forms are completed for employee file. Enters all changes as necessary.
- Directly handles employee benefits plan. Reviews plan experience quarterly to ensure costs remain low and set up reflects business needs.
- Coordinates and ensures regular staff meetings are scheduled. Meetings include Team Leader and Team (monthly), Executive Director/Assistant and Team (bi-monthly), full staff meeting with principals (annually). Ensures notes are distributed and task progress is followed up on and completed by deadlines.
- Deals directly with all staff disciplinary, termination issues in conjunction with Assistant Manager.
- Formulates all Job Descriptions ensuring job evaluations are up to date and reflective of pay scale.
- Reviews and follows up on all Training and Development for every staff member.
- Ensure business sets benchmark for the industry thru Customer Service training, staff to patient impressions both on the phone and in the business, and overall business presentation.
- Acts as liaison and mediator for conflict management between staff or management group.
- Initiates and oversees change as required within the Clinic to ensure the Company vision is communicated and realized.
- Finance and Accounting procedures.
- Provide guidance and support to Bookkeeper. Train any new staff in this area to avoid delays in processing.
- Reviews P&L monthly for expense regulation.
- Reviews KPI monthly to ensure Production/Collection and AR is within plan. Follows up as necessary. Provides Principals with monthly review.
- Reviews and approves each and every invoice.
- Oversees PC accounts for Owners ensuring all entries and appropriate tax payments are made.
- Initially developed spreadsheets for payments ensuring they include all detail required for review. This includes Associate payment spreadsheets and package contents disbursed monthly. Ensure Associate payments are provided by agreement timelines (15th of each month).
- Reviews and approves payment plans as required.
- Deals with processing companies to ensure transaction fees are competitive and always looks for best practices.
- Looks at all financial aspects when developing Business plan including spreadsheet outlining production and related calculations.
- Responsible to ensure suppliers are providing best prices and negotiation with Companies to receive best pricing. Inventory Control reports to this position.
- Plans and develops strategies for Associates to develop business and increase referral base. Follows up on progress.
- Organizes all functions including seminars (coordinates speakers/accommodations/venue/guest list) and ITI (speakers/guests/dates/accommodations/expense reporting to ITI and update of ITI.net) and related paperwork.
- Develops Web site to ensure it reflects business requirements.
- Develops all business literature including brochures, folders, booklets to ensure they reflect business needs.
- Deals with all stationary ordering and approves final order.
- Follows up on reporting for overall referral base. Reviews referral numbers, production increases/decreases and provides guidance on where opportunity is available. This then translates to referral plans and target offices.
- Sources out new real estate/office space/buildings.
- Organizes contract negotiations and lease for new space.
- Designs and builds new office space.
- Responsible for cost management for projects ensuring budgets are met.
- Sets out and meets timelines with minimal down time.
- Works directly with contractors/designers throughout the project answering questions, following up on timelines, ensuring quality guidelines are met.
- Sources out and purchases all equipment/furniture in addition to sourcing out who will be the service provider (ie. Cabling, phones, internet connections, MPLS, license agreements, marketing materials, etc.)
- Works directly with the banks for appropriate loan amounts and organizes signatures.
- On site throughout project as needed.
Key Performance Deliverables
In light of the identified responsibilities, the following are among the deliverables that the position is designed to achieve.
- Specific measures of performance will be discussed and agreed up with the successful candidate.
The following competencies listed below define the role of Chief Operating Officer at Our Client
Focuses strongly on achieving agreed upon outcomes and ensures that key objectives are met. Conveys a sense of urgency and drives issues to closure. Aims to improve upon past performance. Establishes aggressive personal targets and strives to achieve them.
Establishes and communicates clear priorities and sense of direction. Clarifies roles and responsibilities. Adapts management style to achieve optimum results.
Delegates responsibility to match the skill and ability level of team members. Provides others with the scope and resources necessary in order to complete assignments effectively. Creates an environment where individuals have the latitude to use their discretion.
Strives to provide customers/clients with personalized and efficient service. Anticipates customers'/clients' needs. Quickly follows up on customer/client contacts and complaints. Monitors and acts on measures of customer/client satisfaction.
Integrity & Sincerity
Inspires trust and supports others through own authenticity and following up on commitments. Maintains high ethical standards both personally and professionally. Shows consistency among principles.
Applies appropriate commercial and financial principles. Understands situations in terms of costs, profits, added-value and return on investment. Appreciates the commercial impact of own work on the organization's total expenses and revenues.
Demonstrates critical technical or professional knowledge/skills related to the role. Has thorough knowledge of relevant products, services and methods. Expands technical knowledge/skills and keeps up-to-date in own area of expertise.
Preferred Experience / Education
The following indicates specific industry, academic and functional experience/qualifications that are important to the successful achievement of the identified responsibilities and performance deliverables.
- Minimum of 7-10 years of experience in a leadership capacity
- Sound financial management and acumen
- Well-organized, process oriented
- Experience in people management roles with recruitment, selection, hiring, coaching, feedback, employee engagement and performance management
- A positive team style
- Track record defined in part by an ability to consistently execute on agreed upon objectives.
- A highly intelligent, strategically minded executive with superb communication and interpersonal skills and a willingness to roll-up his/her sleeves.
- A sense of urgency and a demonstrable track record of accelerating growth.
Remuneration & Benefits
- Highly competitive compensation package tailored to the successful candidate.