Sample interview questions: Can you provide an example of a time when you successfully implemented financial policies and procedures to improve financial planning and analysis?
Sample answer:
- Negotiated new managed care contracts that resulted in a 5% increase in revenue. Led team to analyze current contracts and identify areas where renegotiation could yield favorable terms. Developed strategies for negotiations and successfully persuaded managed care organizations to agree to higher rates. Conducted regular reviews of contracts to ensure compliance and identify opportunities for further improvement.
- Developed and implemented a new budgeting process that improved accuracy and reduced variances. Conducted a thorough review of existing budgeting practices and identified areas for improvement. Introduced new budgeting software and standardized budgeting templates. Implemented a rolling budget process that allows for more flexibility and responsiveness to changing circumstances. Provided ongoing training and support to department managers on the new budgeting process.
- Successfully implemented a new cost-control program that resulted in a 3% reduction in expenses. Analyzed hospital’s financial data to identify areas where costs could be reduced. Developed and implemented a com… Read full answer
Source: https://hireabo.com/job/2_4_20/Hospital%20CFO%20%28Chief%20Financial%20Officer%29