Executive Vice President & Chief Financial Officer (CFO)

THE OPPORTUNITY

Tower Health, headquartered in Reading, Pennsylvania, is seeking a strategic and accomplished Executive Vice President & Chief Financial Officer (CFO) to provide executive financial leadership across the health system. As a strong executive partner to the President & CEO (CEO) and leadership team, the CFO will collaborate with senior leadership to develop and implement financial strategies that will enhance Tower Health’s mission and ensure its continued impact within the communities it serves.

The CFO will have overarching responsibility for financial operations across Tower Health, including Reading Hospital, Phoenixville Hospital, Pottstown Hospital, St. Christopher’s Hospital for Children, Tower Health Medical Group and Tower Health at Home. Serving as a key member of the talented, nimble executive leadership team and reporting to the CEO of Tower Health, the CFO will work closely with the Chief Financial Officers at each entity, who will report functionally to the Tower Health CFO. This role is essential to fostering financial alignment, operational excellence, and long-term fiscal health across the organization. The CFO will play a pivotal role in ensuring the financial sustainability and integrity of Tower Health, driving initiatives that support the organization's continued success and growth.



The CFO will lead financial operations across the system, ensuring resources are optimized to support exceptional patient care and operational excellence. This role involves guiding operational, financial, and cultural initiatives that strengthen Tower Health’s financial foundation while fostering a collaborative and forward-thinking culture. The CFO will also be responsible for mentoring and supporting financial leaders at each entity, driving system-wide standardization, and advancing financial initiatives.

The ideal candidate will be a seasoned financial executive, who is innovative, creative and dynamic with a proven track record of success in a complex healthcare environment. Experience across the entire financial spectrum is important. This leader will demonstrate integrity, accountability, and a commitment to service excellence. They will bring exceptional strategic insight and an ability to navigate the challenges of modern healthcare, positioning Tower Health for long-term success and sustainability.

Tower Health is a regional, integrated healthcare system committed to delivering compassionate care to communities in Berks, Chester, Montgomery, and Philadelphia Counties. With a team of more than 10,000 employees, Tower Health operates Reading Hospital in West Reading, Phoenixville Hospital in Phoenixville, Pottstown Hospital in Pottstown, St. Christopher’s Hospital for Children, a joint partnership with Drexel University in Philadelphia, Tower Health Medical Group and Tower Health at Home. For more information, visit towerhealth.org.

ORGANIZATION OVERVIEW

Reading Hospital

Reading Hospital is the flagship, Magnet Recognized, acute care hospital of Tower Health. Located in West Reading, Pennsylvania, Reading Hospital is a 665-bed hospital that is home to many top-tier specialty care centers, including: Reading HealthPlex, McGlinn Cancer Institute, Miller Regional Heart Center, an emergency department that includes a Level I Trauma Center, and the Beginnings Maternity Center, which houses the region's only Level III Neonatal Intensive Care Unit (NICU). Reading Hospital has been recognized for its quality outcomes and clinical expertise across service lines. In 2024, Reading Hospital was recognized by Newsweek as one of the World’s Best Hospitals. Healthgrades® has recognized Reading Hospital as one of America's 50 Best Hospitals for 2024. This is the third year in a row (2022-2024) Reading Hospital has been in the top one percent of hospitals nationwide for overall clinical performance. It is also listed as one of America's 100 Best Hospitals for eight consecutive years.

Reading Hospital Rewards and Recognition (Healthgrades):

• America's 50 Best Hospitals Award™ / Top 1% of U.S. hospitals for clinical outcomes (2022-2024)
• America's 100 Best Hospitals Award™ (2017-2024) 
• America's 250 Best Hospitals Award™ (2014-2024)

Building on its commitment to education and providing the healthcare workforce of the future, Reading Hospital has affiliations with local colleges as well as its own School of Health Sciences, which offers programs in Diagnostic Medical Sonography, Emergency Medical Services, Medical Imaging, Medical Laboratory Science, Nursing, Phlebotomy, and Surgical Technology.

Phoenixville Hospital

Located in Phoenixville, PA, and a member of Tower Health, Phoenixville Hospital is a 144-bed facility that provides comprehensive medical services through emergency room visits, inpatient admissions, outpatient procedures and community outreach programs. Phoenixville Hospital’s services include an award-winning cardiovascular program, a fully accredited cancer center, NAPBC-accredited breast health center, an acute inpatient rehabilitation center, and a large robotic surgery program. Phoenixville Hospital is accredited by The Joint Commission and has been recognized for its quality outcomes and clinical expertise across services lines that include advanced joint replacement surgery, advanced heart failure care, and the designation as a Primary Stroke Center.

Pottstown Hospital

Located in Pottstown, PA, and a member of Tower Health, Pottstown Hospital is a 213-bed hospital that offers a full range of health services, including inpatient and outpatient, medical and surgical, and diagnostic and emergency care. Pottstown Hospital is accredited by The Joint Commission and has been recognized for its quality outcomes and clinical expertise across many service lines. Its cancer program is nationally recognized. The hospital also is a Primary Stroke Center; Joint Commission-certified for hip and knee replacement and Heart Failure certified.

St. Christopher’s Hospital for Children

Located in Philadelphia, PA, and owned by Tower Health and Drexel University in partnership, St. Christopher’s is a 180-bed Children’s Hospital. A leader in pediatric care since 1875, St. Christopher's Hospital for Children offers nationally recognized programs and pediatric specialists who provide exceptional care to children from throughout the Greater Philadelphia region. What truly sets St. Chris apart is the way they provide that care – with genuine passion and heart in a nurturing, patient- and family-centered environment.

Tower Health

Tower Health is a vibrant, nationally recognized health system that serves a population of nearly 2.5 million people. Its four acute-care hospitals include Reading Hospital in West Reading; Phoenixville Hospital in Phoenixville; and Pottstown Hospital in Pottstown as well as St. Christopher's Hospital for Children in Philadelphia. Tower Health also includes the Tower Health Medical Group; Tower Health at Home; Reading Hospital Rehabilitation at Wyomissing; Reading Hospital School of Health Sciences; and a comprehensive provider network of over 1,100 physicians, specialists, and providers across 130 convenient locations.

Tower Health is among the largest healthcare systems in the Philadelphia region, based on beds and revenue. With over 10,000 team members and a combined 1,200 beds, Tower Health provides a full range of medical care — from prevention, screenings, and education; to the latest clinical services and surgeries available; to rehabilitation. Committed to providing high-quality care, its hospitals have earned national awards and recognition for advanced care across the clinical spectrum, including in areas such as neurosurgery and stroke, cardiac and vascular surgery, trauma, hematology, and oncology.

Tower Health hospitals work closely together, which enables providers, leadership, and staff to leverage best practices across the health system. Reading HealthPlex, at Reading Hospital, is one of the most sophisticated surgical centers and inpatient facilities in the region. It provides a convenient alternative for patients who need advanced medical services but do not want to travel to a large metropolitan area. In July 2018, Reading Hospital received designation as a Level I Trauma Center from the Pennsylvania Trauma Systems Foundation. Level I accreditation, the highest level given, indicates that the Trauma Center provides multidisciplinary treatment and specialized resources for trauma patients, conducts trauma research, has a surgical residency program, and treats at least 600 major trauma patients per year.

Tower Health collaborates with partners to address community healthcare needs. For example, recognizing the need for increased behavioral health services, Tower Health formed a joint venture partnership with Acadia Healthcare to develop an integrated behavioral health campus in Bern Township. The facility includes a 144-bed inpatient facility. To address the regional physician shortage, Tower Health partnered with Drexel University to develop a branch campus of Drexel University College of Medicine near Reading Hospital. Tower Health physicians and employees are committed to excellence, and their compassion for patients and the community are evident every day. Tower Health strives to enhance the health and well-being of residents across the region, and in doing so, it is delivering on its promise of Advancing Health and Transforming Lives.

POSITION SUMMARY

Reporting Relationships

The Chief Financial Officer (CFO) will report directly to the President & CEO of Tower Health and will have oversight of the Associate CFO, including the three Hospital CFOs. Additional reporting relationships:

• Budget
• Managed Care 
• Treasury
• Performance Improvement
• Revenue Integrity
• Risk Management

Responsibilities and Scope of Practice

The successful Chief Financial Officer of Tower Health candidate will:

• Direct entity's financial planning and financial operations as well as maintain positive relationships with key external constituents and constituents within entity and across system.
• Interact with management and staff in developing strategic plans to include the financial planning component.
• Collaborate with all hospitals’ finance and ancillary departments.
• Develop and implement financial policies and procedures and ensure compliance with regulatory and organizational standards.  
• Oversee financial due diligence process related to any physician network mergers or acquisitions, ensuring informed decision-making and alignment with strategic goals.
• Direct budgeting, audit, tax, accounting, purchasing, long-range forecasting, and insurance activities for the organization.
• Evaluate the organization's financial position and issues regular reports on the organization's financial stability, liquidity, and growth.
• Assure implementation of internal controls and generally accepted accounting procedures.
• Educate staff on financial management principles.
• Supervise the analysis of costs and make rate recommendations to ensure appropriate income/cash flow.
• Oversee and direct the preparation and issuance of the organization's annual tax and other reports.
• Prepare and present financial results to the Board of Directors if applicable, and other key groups.
• Provide strategic leadership and fosters high level performance in the delivery of healthcare.
• Work with corporate constituents and hospital leadership to maintain an organized system of management and controls that ensure smooth function of hospital/health system operations. Timely accomplishment of goals, and physical, financial, and human resource viability and success.
• Work with the CEO and the Corporate Planning department to develop strategic plans for the hospitals that ensure top performance and fosters market and program growth that aligns with the organization's strategy.
• Provide input into payor relations strategies and agreements.
• Utilize financial and analytical skills to lead, monitor and take actions that ensure the hospital’s financial stability and long-term success.
• Ensure each hospital is appropriately resourced from a capital and labor perspective.
• Work with each hospital’s board of trustees in the delivery of established goals.
• Inform and advise the board of trustees on matters that influence and impact hospital performance.
• Responsibilities may be expanded based on prior experience

Leadership

• Participate actively in leadership teams and shared governance councils, focusing on aligning financial practices and sharing financial best practices across the health system.
•  Provide financial leadership to clinical and operational departments by overseeing daily financial operations, budgeting, and business support to ensure financial stability, effective resource management, and robust systems that support patient care, staffing, and hospital operations around the clock.
• Develop and manage annual capital and operational budgets within areas of responsibility. Set short-range goals aligned with the budget, and participate in long-range planning for financial, material, and staffing needs. Identify innovative ways to enhance the hospital’s financial performance, focusing on operational efficiencies and achieving financial targets.

 Professional Communication

• CFO will be visible, proactive, decisive, and an excellent communicator, representing Tower Health on local community boards to strengthen community partnerships and reinforce the organization’s financial stewardship.
• Ensure that clinical and financial leaders are involved in decision-making processes, fostering a collaborative and empowered governance framework that supports financial and operational excellence.
• Engage in community service and educational programs to enhance Tower Health’s image as a fiscally responsible and community-focused institution.

Teamwork

• Collaborate in developing and implementing strategies for seamless cooperation between network entities, ensuring financial alignment and integration.
• Create and implement professional development and performance management plans for clinical and financial leaders, ensuring alignment with organizational goals and financial objectives.
• Support Shared Governance initiatives and encourage engagement in professional practice, financial stewardship, and innovation to improve outcomes and support organizational growth.

Professional Development

• Drive financial practices that align with the core values of Tower Health, emphasizing transformational leadership, structural empowerment, innovative strategies, data-driven decision-making, and measurable outcomes to support organizational excellence.
• Ensure the finance team holds required licensure and certifications in compliance with Pennsylvania state laws, while promoting continuing education and professional growth to maintain the highest standards.

GOALS AND OBJECTIVES

Serve as a Strategic Financial Leader and Trusted Partner

Establish yourself as a visible, proactive financial leader who partners effectively with other executives to support the organization’s overall success. Develop a reputation for transparency and approachability, creating open lines of communication across the organization to build trust and confidence in financial decisions at all levels. Establish a strong, approachable presence as a trusted financial advisor to leadership and staff.

Shape Financial Strategy to Support Organizational Goals

Design and execute a comprehensive financial strategy that promotes transparency, collaboration, and innovation. Develop a finance team culture that values continuous learning, operational efficiency, and accountability. Encourage an open-minded approach to problem-solving. Be a visible, supportive leader, focused on enabling the organization to meet its financial goals effectively.

Drive Operational and Financial Performance Excellence

Provide rigorous oversight of financial operations and continuously seek opportunities for fiscal improvement. Focus on optimizing organizational performance through effective resource utilization, productivity gains, labor cost management, and innovative data-driven solutions. Partner with other departments to enhance throughput and operational efficiency, ensuring that financial strategies support both patient care and organizational stability. Focus on rightsizing the division of finance, as well as the health system. 

Champion Diversity, Equity, and Inclusion Across Financial Initiatives

Lead with a focus on fostering a diverse, equitable, and inclusive environment within the financial team and across the organization. Collaborate with Tower Health’s leadership team to support financial strategies that enhance equity and opportunity. Mentor finance staff and promote a culture of commitment to shared organizational goals, focusing on innovative workforce development initiatives, and embracing technology to optimize financial processes.

Workforce and Leadership Development in Finance

Partner with academic institutions and internal teams to build a sustainable workforce pipeline for finance professionals. Collaborate with human resources to create staffing models that promote financial efficiency and align with long-term growth strategies. Address recruitment and retention issues within the finance team, exploring ways to reduce turnover. Actively mentor finance leaders, promoting their professional growth and development, and supporting financial literacy initiatives throughout the organization.

Ensure Adoption of Financial Best Practices and Innovation

Engage with financial leaders and organizations nationwide to stay informed of best practices and emerging trends in healthcare finance. Collaborate closely with senior leadership and medical staff to embed a culture of equity, transparency, and accountability within financial operations. Work to continuously improve quality, financial performance, and operational outcomes that will position Tower Health/Reading Hospital as a leader in healthcare finance.

CANDIDATE QUALIFICATIONS

Education/Certification

•  4-year Bachelor’s Degree
•  Relevant Master’s Degree

Knowledge and Work Experience

• Extensive Financial Leadership Experience: Demonstrated success as a financial leader in a large, complex medical center or health system. Progressively responsible experience in hospital financial operations with a deep understanding of contemporary healthcare finance, including reimbursement, managed care and payor relationships, and financial accountability. Experience in revenue cycle and managed care is preferred for this role. 
• Collaborative Leadership and Consensus Building: Proven ability to establish and maintain effective relationships across a highly diverse, complex organization. Skilled at building consensus, leading cross-functional teams, and fostering a collaborative culture within the organization. Experience with partnerships and joint ventures is preferred to enhance collaborative efforts.
• Physician and Clinical Program Support: History of working positively and effectively with clinical leaders and physicians, understanding their needs, and supporting the development of clinical programs that align with financial goals and operational efficiency.
• Operational and Financial Performance Improvement: Track record of improving hospital operations from a financial perspective—emphasizing quality, cost management, productivity, efficiency, and market growth—while maintaining staff engagement and morale. The CFO will create engagement and accountability for financial results, ensuring alignment with organizational goals.
• Strategic Financial Planning and Budgeting: Strong financial acumen with experience in developing annual operating and financial plans that balance revenue generation with expense control. Skilled in strategic financial planning to support both short- and long-term organizational goals.
• Team Building and Staff Development: Proven ability to recruit, train, and motivate both clinical and non-clinical financial personnel. Skilled at developing a strong finance team to support profitability, operational growth, and continuous quality improvement.
• Commitment to Excellence in Patient Services and Quality: Demonstrated record of enhancing patient service quality and financial performance metrics within a healthcare setting. Familiarity with High Reliability Organization (HRO) principles to support continuous improvement and accountability.
• Team-Oriented Financial Leadership: Commitment to a collaborative, team-oriented approach to financial management. Adept at integrating financial strategy with operational goals to support patient care delivery and system-wide objectives.

Required Skills for CFO Role:

• Accountable for maintaining workplace safety
• Change management expertise
• Collaborative skills for cross-departmental initiatives
• Excellent communication and interpersonal skills
• Strong financial and business acumen
•  Strategic thinking and leadership abilities
• Demonstrated team player with strong teamwork skills

Physical Requirements:

• Must meet ADA requirements for reasonable accommodations; however, no accommodations will be made that pose serious health or safety risks or impose undue hardships on the organization.
• Able to perform duties both in person, streaming and over the telephone.
• Clear communication skills for interactions in person and via phone.
• Competence in accurately documenting information by writing or typing.
• Sufficient visual acuity for job duties, including reading printed materials and computer screens.

THE COMMUNITY

Reading, Pennsylvania

The city of Reading, located in southeastern Pennsylvania, is the principal city of the Greater Reading Area and the county seat for Berks County. With a population of 87,575, it is the fifth-largest city in Pennsylvania. Today, Reading is a city pulsating with industrial life. It is also well equipped with agencies that represent civilization at its best – churches, hospitals, clubs, fraternal societies,

recreational centers, schools and colleges, a historical society, an art institute as well as a daily newspaper. Reading claims the distinction of a symphony orchestra, two choral societies, a chamber musical ensemble, a civic opera company and many other excellent music groups that have contributed to the city's prestige as a center of art and culture.

The city, which is approximately halfway between the state's most populous city, Philadelphia, and the state capital, Harrisburg, (as well as about halfway between Allentown and Lancaster) is strategically situated along a major transportation route from Central to Eastern Pennsylvania, and lent its name to the now-defunct Reading Railroad, which transported anthracite coal from the Pennsylvania Coal Region to the eastern United States via the Port of Philadelphia. Reading Railroad is one of the four railroad properties in the classic United States version of the Monopoly board game.

The city's cultural institutions include the Reading Symphony Orchestra and its education project the Reading Symphony Youth Orchestra, the Reading Choral Society, Opus One: Berks Chamber Choir, the GoggleWorks Art Gallery, the Reading Public Museum and the Historical Society of Berks County.

In addition, West Reading, Wyomissing, and other surrounding towns offer a wide variety of restaurants and social activities as well as quality school systems.