Jamie E. Rivera, CPA
San Juan
Summary
Highly analytical senior management executive with 29 years of healthcare experience, specializing in financial and operational management in both healthcare provider and insurance sectors. Proven track record of achieving revenue, EBITDA, and business growth in diverse environments including start-ups, turnarounds, and rapid-change settings. Skilled in initiating and developing new projects while effectively managing finances and operations to maintain or improve service quality. Experienced in business acquisitions and integration, with a strategic focus on meeting financial goals and ensuring compliance. Demonstrated organizational and negotiation skills, able to prioritize multiple complex tasks with conflicting deadlines. Possesses discretion, mature judgment, and tact when handling sensitive issues. Expertise in networking, contract negotiation, risk assessment, and financial forecasting. Advanced knowledge of personal computers and associated software applications. Strong leadership, problem-solving, planning, team-building, and project management abilities.
Overview
25
25
years of professional experience
1
1
Certification
Work History
CFO
MSO Of PR
2018.10 - Current
- Streamlined financial processes by implementing automation and reducing manual tasks, leading to increased efficiency and accuracy.
- Negotiated favorable terms with vendors and suppliers, achieving significant savings on procurement expenses.
- Facilitated successful mergers and acquisitions by conducting thorough due diligence analyses and providing strategic guidance throughout the process.
- Ensured compliance with all regulatory requirements by staying current on industry developments and implementing necessary controls within the organization.
- Mentored finance team members, fostering a culture of professional growth and skill development within the department.
- Presented financial results to board members and investors during quarterly meetings, maintaining transparency in communication regarding company performance.
- Evaluated investment opportunities diligently, contributing to informed decisions regarding potential projects and their expected returns.
- Managed relationships with external auditors, ensuring a smooth and efficient annual audit process with minimal findings or issues identified.
- Championed the adoption of new financial technologies, keeping the organization at the forefront of industry advancements while maximizing efficiency in daily operations.
- Prepared accurate financial statements at end of quarter to summarize financial health and business performance.
- Conducted detailed analysis of company financial information and oversaw preparation of related reports.
- Initiated back-and-forth communication to negotiate and approve contracts and agreements.
- Conducted risk analysis by collaborating with actuarial teams to deliver key data for bid submissions.
- Executed detailed assessments for accurate risk determination.
- Led the analytics department.
VP of Contracting
MSO Of PR
2017.08 - 2018.09
- Negotiated favorable contracts with vendors, securing advantageous terms for the company while maintaining strong professional relationships.
- Collaborated closely with various department heads on strategic planning initiatives to ensure alignment between corporate goals.
- Increased company growth through collaboration with sales and marketing departments.
- Explained company performance metrics and future projections to stakeholders.
Executive Vice President/CFO
Progressive Health Management, Inc.
2017.05 - 2018.09
- Supervise operational aspects within healthcare company's facilities.
- Develop departmental goals, objectives, standards of performance, policies and procedures
- Align departmental budgets with organizational and legal requirements for improved efficiency in nursing service delivery.
- Led planning and achievement of goals and objectives consistent with company mission and philosophy
- Consistently comply with applicable laws and regulations and ensure facility adhere to Medicare and Medicaid regulations
- Establish and overseen implementation of effective budgeting and accounting system that improved efficiency and reduced costs
- Overseen private and MCR billing, payroll, AP, and AR and verified that proper procedures were followed
- Develop and achieve financial and growth goals
- Strategically plan methods to achieve operational goals and targets
- Regularly boost positive company image across served markets.
- Led facility management staff and consultants in producing business plan that focus on all aspects of facility operations, including setting priorities and job assignments
- Introduce, negotiate and implement new projects to expand scope of engagement
- Strength and maintain good relationships with all banks
- Restructure and negotiation of long-term debt
- Evaluate and Improve billing and collection practices
- Negotiation with medical plans, IPA's and Hospitals based on traditional and non-traditional methodologies
- Implemented cost-saving measures through careful financial analysis and budget management, positively impacting overall profitability
- Establish and overseen implementation of Electronic Health Record
- Supervise and develop new procedures on Utilization management in order to reduce denial days
- Developed strong relationships with key industry partners, resulting in mutually beneficial business opportunities
- Represented organization at industry events and conferences, demonstrating expertise and engaging stakeholders.
SENIOR VICE-PRESIDENT OF FINANCE
MetroPavia Health System, Inc
2011.07 - 2017.04
- Successfully lead, manage and direct finance for twelve Hospitals, Homecare, pharmacy company, ambulance company among other entities that form part of MetroPavia Group.
- Demonstrated leadership ability to provide vision, focus, and execution to achieve success in start-up, high growth, and turnaround operations.
- Strengthening and maintaining good relationships with all banks.
- Restructure and negotiation of $190 millions long term debt.
- Meet and exceed financial covenants agreed.
- High improvement in billing and collection (meeting collection goals every year).
- Increased EBITDA by more than 30% meeting and exceeding budget expectation as group (reaching around $30 millions increase on EBITDA by 2014).
- Substantial improvement was made in repayment of debts causing 5 Hospitals to become debt free organization. This was reached without compromising cash flow, plant improvement and equipment.
- Negotiated with medical plans base on traditional and non-traditional methodologies looking for new opportunities.
- Developed strategies to meet capital requirements for Medical Plan.
- Helping to create preferred network for Medical Plan company.
- Negotiated new contractual arrangements with IPAs for various Medical Plans.
- Developed capitation structure for several medical plans and affiliated company without affecting quality.
- Implemented admitting physicians' program in all Hospitals for some medical plans.
- Established and oversaw implementation of Electronic Health Record in all facilities.
- Supervised and developed new procedures on Utilization management reducing denial days in more than 60%.
- Spearheaded cost reduction efforts, identifying opportunities for savings and negotiating better vendor contracts
- Optimized budgeting processes for greater transparency and control over financial resources, resulting in more informed decision making.
CHIEF FINANCIAL OFFICER
Servicios De Salud Episcopales, Inc
2007.02 - 2011.07
- Managed and directed fiscal operations, including planning budgets, authorizing expenditures, accounting, establishing service rates and coordinating financial reporting for Hospital Episcopal San Lucas Ponce, Hospital Episcopal San Lucas Guayama and Homecare and Hospice San Lucas.
- Demonstrated leadership ability to provide vision, focus, and execution to achieve success in start-up, high growth, and turnaround operations.
- Worked with Board of Director for public and private companies and demonstrated comprehensive experience on Governance, Audit, Strategic Planning, Operations, Finance, and Investment Committees.
- Strengthened relations with banks that provide financing to San Lucas group.
- Restructure of more than hundred million long term debt.
- Meet financial covenants agreed.
- Centralized billing and collections.
- Very high improvement in billing and collection reducing account receivable days by 40% just from one year to another and being recognized by Standard and Poor officials.
- Substantial improvement was made in repayment of accounts payable.
- Increased EBITDA 25% to record $18 million and improved working capital by $10 million.
- Implemented clinical and financial software.
- Streamlined financial processes by implementing new clinical and financial software and automation techniques.
- Increased cash flow by optimizing working capital management and reducing outstanding receivables.
- Enhanced profitability with cost reduction initiatives, such as renegotiation of supplier contracts and process improvements
- Ensured accurate financial reporting, maintaining compliance with GAAP, SEC regulations, and internal policies.
- Developed strategic financial plans to support company growth and achieve long-term objectives.
- Negotiated favorable credit terms with banks for increased borrowing capacity and reduced interest expenses.
- Oversaw successfully completion of external audits, addressing any recommendations promptly to ensure smooth operations.
CHIEF EXECUTIVE OFFICER
Homecare And Hospice San Lucas
2005.10 - 2007.01
- Responsible for the general administration of homecare, hospice and durable medical equipment operations and financial results.
- Development of strategic plan to restructure and improve the efficiency of all services to make them more cost effective.
- Managed to reduce costs, improve cash flow.
- All results where demonstrated on the improvement of operations.
- Incorporated digital system reflected on updated database to eliminated manual creating a more effective, fast phased and paperless environment for the organization.
CHIEF AUDIT EXECUTIVE
Servicios De Salud Episcopales Inc
2004.09 - 2005.10
- Experience in financial, information systems, operational and regulatory auditing, compliance, business process evaluation and design, system implementation, and fraud investigation.
- Recognized as having adopted broad and progressive role for Internal Audit.
- Proven ability to build and lead teams during periods of change and drive organizational efficiencies through effective planning, coaching, and administration.
- Strong communication skills and ability to work with all levels of organization have been keys to success.
- Conducted studies of operational and financial effectiveness of unit; extracting financial data from various accounting and information systems; performing moderately complex statistical, cost and financial analysis of financial reports and data, and preparing subsequent narrative analysis for management.
- Identified areas of improvement in financial reporting processes, resulting in increased efficiency and accuracy
- Streamlined internal controls by conducting thorough reviews and recommending effective solutions.
- Assisted clients with implementation of new accounting standards, ensuring compliance with industry regulations.
- Prepared accurate audit reports that clearly communicated findings and recommendations to management teams.
FINANCE SUB DIRECTOR
Pavia M Fernandez, Inc.
2002.09 - 2004.09
- Responsible for financial management and analysis, balancing short term objectives with long term ideas and goals, completing decisions and able to adapt changing environments.
- Performed active role in evaluating budgets for new project proposals.
- Make sure that funding is properly set up.
- Work as expressive communicator at all organizational levels.
- Responsible for keeping good relationship building, team leadership and customer service.
- Negotiated favorable contracts with vendors for reduced costs and improved service quality.
- Established culture of continuous improvement by fostering open communication channels and empowering employees to voice their ideas.
- Managed budgets effectively to ensure optimal use of resources while maintaining financial stability.
- Proactively identified potential risks and implemented mitigation strategies to minimize negative impacts on projects or business operations.
- Strengthened internal controls by reviewing existing policies and procedures, ensuring compliance with regulatory requirements.
- Worked closely with organizational leadership and board of directors to guide operational strategy.
- Increased company revenue by streamlining processes and implementing cost-saving measures.
CONTROLLER/FINANCIAL ANALYST/CONTRACT MANAGER
Pavia Health, Inc
1999.12 - 2002.09
- Management role focused financial planning, debt financing, cash flow monitoring, and budget management and review functions.
- Has in-depth knowledge of principles related to all matters linking to finance, accounting, budgeting, and cost management and controls.
- Use of automated financial and accounting reporting systems.
- Deep involvement in decision-making processes. Has innate capability of driving business revenues via forecast and accurate analysis of financial data to lessen or eliminate losses incurred by company.
- Negotiation of contracts using purchasing power of all corporations in Pavia Group at Corporate level.
- In charge of preparing obligated group reporting requirements for banks.
- Reduced month-end closing time by optimizing reconciliation procedures and improving collaboration between departments.
- Ensured timely financial statement preparation, allowing for better decision-making and strategic planning.
- Managed budgeting process, aligning departmental budgets with organizational goals and monitoring performance against targets.
- Prepared balance sheets, cash flow reports and income statements
- Ensured compliance with tax regulations by managing timely preparation and filing of all required returns.
- Managed budgets, assets, portfolios, accounts payable, and receivable and general financial reporting procedures
- Supervised accurate, efficient, and compliant completion of monthly financial reporting packages.
Education
BBA - Business Administration with Mayor in Accounting
Universidad PR
Recinto Rio Piedras1996
Skills
- System Development / Project Planning / Financial Analysis
- Financial & Strategic Planning
- Complex Business & Tax Issues
- Budget Development & Management
- Business Expansions & Startups
- Analytical thinker
- Supervision and leadership
- Staff Management & Development
- Merger & Acquisition Negotiations
- Independent judgment and decision making
- Knowledge of Medicaid and Medicare statutes and regulations
- Quality improvement competency
- Communication Skills
- Strong presentation skills
- Teamwork and Collaboration
Affiliations
Colegio de CPA - San Juan
HFMA / Health Financial Management Association - San Juan
Chamber of Commerce - San Juan
Accomplishments
CPA of the year in Healthcare Industry 2013
Certification
Certified Public Accountant
Timeline
CFO
MSO Of PR
2018.10 - Current
VP of Contracting
MSO Of PR
2017.08 - 2018.09
Executive Vice President/CFO
Progressive Health Management, Inc.
2017.05 - 2018.09
SENIOR VICE-PRESIDENT OF FINANCE
MetroPavia Health System, Inc
2011.07 - 2017.04
CHIEF FINANCIAL OFFICER
Servicios De Salud Episcopales, Inc
2007.02 - 2011.07
CHIEF EXECUTIVE OFFICER
Homecare And Hospice San Lucas
2005.10 - 2007.01
CHIEF AUDIT EXECUTIVE
Servicios De Salud Episcopales Inc
2004.09 - 2005.10
FINANCE SUB DIRECTOR
Pavia M Fernandez, Inc.
2002.09 - 2004.09
CONTROLLER/FINANCIAL ANALYST/CONTRACT MANAGER
Pavia Health, Inc
1999.12 - 2002.09
BBA - Business Administration with Mayor in Accounting
Universidad PR