So far in our series on the Personnel Requirements of a Florida Home Health Agency, we’ve reviewed the positions of Administrator, Director of Nursing and Supervisory nurse. This week, we will discuss the requirements of the Financial Officer.
Another requirement for home health agencies in Florida is the Financial Officer, the individual who is responsible for the financial operations of the agency. However, no specific requirements exist for this individual’s training, experience or responsibilities. In most cases, the role of Financial Officer is assumed by the agency owner, and less frequently the Administrator.
On occasion, agency clients have delegated the responsibilities to their accountant or other financially minded individual. If one considers the role of a financial officer, it makes sense to enlist the assistance and oversight of a trusted individual to help the agency remain in solid financial shape and viable. Some responsibilities of the financial officer can include: creating the annual budget and monitoring its compliance; maintaining the agency’s financial records and “books” or – at least – reviewing their status; overseeing the agency’s billing activities (including collection status); and making recommendations for capital investment projects.
The financial officer is a position listed on the State of Florida application for home health agency licensure and requires a Level 2 background screening.
Next week, we’ll finish this five-part series on the leadership requirements of home health agencies by discussing the position of Medical Director.