Physicians Regional Healthcare SystemHattiesburg, MS
Physicians Regional Healthcare System Hattiesburg, MS
1 week ago
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Job DescriptionMerit Health Wesley is your community healthcare provider. We believe in the power of people to create great care. We are more than 300 physicians strong, while employing more than 1,200 health care professionals. We have been nationally recognized for patient safety and quality care.
Merit Health Wesley is the area’s first and only accredited Chest Pain Center and the only hospital in the area accredited for heart failure care. We work hard every day to be a place of healing, caring and connection for patients and families in the community we call home.
As part of the CEO Development Program, this position will require relocation within an acceptable timeframe for promotion/transfer.The Chief Operating Officer (COO) reports to the Chief Executive Officer and is responsible for the hospital's day-to-day activities, including revenue and sales growth; expense, cost, and margin-control; and monthly, quarterly, and annual financial goal management.
The responsibilities of the COO include, but are not limited to:
Overseeing day to day operations of all departments in the hospital with the exception of Nursing.
Coordinating facility and program planning budget preparation, administering hospital policy formulation
Representing the hospital at various professional, civic and governmental organizations and meetings.
Partnering with physicians who use, or will use, the hospital; taking a role in the recruiting and retention of physicians
Working with the Chief Executive Officer to ensure the hospital meets necessary regulatory and compliance approvals and quality accreditations in conjunction with the hospital's Chief Nursing Officer
Working with the Chief Executive Officer to create an environment that will encourage the recruiting and retention of qualified hospital employees
Analyzing areas in planning, promoting and conducting organization-wide performance improvement activities
Assisting in planning of new services that generate additional sources of profitable revenue
Assisting in managing costs by continually seeking data that will identify opportunities and take action to eliminate non-value costs in conjunction with the hospital's financial and nursing officers
Participating in the hospital's monthly operation reviews as well as participating in corporate office meetings as deemed necessary
This position reports directly to the CEO and in the absence of the CEO, the COO may be required to interpret hospital policy and provide guidance.
Education:
Must possess a Bachelor's degree in Business Administration or related field from an accredited institution
Master of Healthcare Administration or MBA with Healthcare emphasis required.
Experience:
Minimum 4 years recent hospital experience managing multiple departments in acute care facility.
Experience in physician relations or recruitment required.
Abilities:
Must be proficient in written and verbal communication skills
Must have proven ability to establish and maintain effective working relationships with physicians, hospital staff and community
Ability to maintain confidential information concerning personal, financial, or medical matters
Must have knowledge of technical and professional skills management, general principles of human resource management, labor relations and hospital economics
Seniority level
Executive
Employment type
Full-time
Job function
Management and Manufacturing
Industries
Hospitals and Health Care
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The Chief Operating Officer (COO) reports to the Chief Executive Officer and is responsible for the hospital's day-to-day activities, including revenue and sales growth; expense, cost, and margin-control; and monthly, quarterly, and annual financial goal management.
As a hospital COO, you will need to receive a comprehensive education through one or more business degrees that allow you to obtain a C-suite position. In addition, you'll need extensive experience both in the healthcare sphere and other leadership roles.
There are over 74,376 chief operating officers currently employed in the United States. 23.4% of all chief operating officers are women, while 76.6% are men. The average chief operating officer age is 51 years old.
In the C-suite, the most prominent positions are the CEO, COO, and CFO – the chief executive officer, the chief operations officer, and the chief financial officer. These 3 positions, along with others, form the top-most tier of leadership at any organization.
This position serves as the second-most senior executive immediately behind the chief executive officer (CEO), helping them develop strategies for enhancing a company's productivity and profitability.
Business management degrees are a great place to start your career because they give you important knowledge and skills about business strategy and operations.
COOs must possess strong leadership skills to inspire and motivate teams. They should be able to provide clear direction, delegate tasks effectively, and foster a collaborative and high-performance culture within the organization.
Fractional COO rates, on the other hand, vary based on factors like experience, the job's complexity, your company's unique needs, and how long you'll need them. On average, you're looking at a budget-friendly range that is between $200 and $500 an hour.
Internal appointments make up around 35% of the appointed to the C-suite. As you can see, getting a new COO can be a long and complicated process, so I would highly recommend starting the process as early as possible as it's not uncommon for the process to take 4+ months.
In the US, COOs are predominantly male (76.6%) with an average age of 51 years old. The majority (89%) of these COOs are older than 40 years old, while the further 11% are between 30 and 40 years old.
Salaries for each position could vary based on industry, experience, company size and location. The average salary in the US for a CEO is $128,843 per year .The average salary for a COO in the US is $137,876 per year . CFOs earn an average of $139,658 per year .
Balancing Customer Needs with Operational Capabilities: COOs and CCOs must collaborate to balance the needs of customers with the company's operational capabilities. While the CCO focuses on strategies to attract and retain customers, the COO ensures that the operations can support these strategies effectively.
The Chief Operating Officer (COO) plays a crucial role in translating the CEO's vision into a functional and sustainable path. They oversee day-to-day operations, implement strategic plans, and manage internal functions, working in harmony with the CEO.
Effective COOs accept and plan for business changes. Organized: To keep track of data and progress, COOs need to keep information organized. They may also use organization skills, such as budgeting or scheduling, during their daily tasks. Growth-focused: Good COOs have a growth mindset.
The COO meaning is Chief Operations Officer. This is the second-in-command to the CEO. COOs take the CEO's vision for the company and turn it into an executable business plan. They oversee all operations and ensure that teams work toward achieving the business goals.
Is a general manager higher than a COO? In most cases, general managers are below COOs in a company's leadership hierarchy. Depending on the specific tasks and duties assigned to the general manager , they might report directly to the COO or to another intermediary leadership employee, like an operations manager.
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