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Provide financial expertise, advice, and analysis to hospital executives and leadership teams through active participation as a member of the leadership team. Monitor daily activity, gross revenue, operating expenses, and productivity reports, and spur corrective actions where needed. Identify strategic and operational opportunities and communicate them to hospital leadership.
Essential Functions
- Prepare financial projections for new projects, capital expenditures, or proposed changes in regional operations.
- Design and prepare ad hoc reports.
- Lead monthly review of operating results for the region or hospital. Coordinate the preparation of financial reports, variance analysis, and action plans.
- Develop and manage key performance indicators and lead efforts to improve financial and operational performance using these indicators.
- Analyze variances from budget and guide managers in preparing corrective action plans.
- Lead activities such as Care Management, Utilization Management, and HIM in conjunction with Corporate Revenue Management.
- Oversee revenue cycle, supply chain, labor management, and other initiatives in collaboration with corporate leaders.
- Oversee charge capture and perform charge reconciliations to ensure appropriate charge capture.
- Ensure timely compliance with documentation and work queue management for claims submission.
- Lead the preparation of the hospital’s operating and capital budgets in coordination with Corporate Financial Planning.
- Oversee review, approval, and financial monitoring of capital projects and maintain the long-term capital plan.
- Anticipate future trends, threats, and opportunities affecting financial results.
- Engage with physicians to support financial goals, understand their needs, and educate them on financial dynamics.
- Update and manage the hospital’s 5-year strategic plan in coordination with Corporate Finance.
- Provide leadership and training to hospital staff on financial management and reporting.
- Manage staff such as administrative support and financial analysts.
- Follow corporate standards for financial analysis and projections.
- Collaborate with the Sr. Vice President of Finance on initiatives like systems, long-range planning, and budgeting.
- Utilize financial systems efficiently for operational analysis.
- Follow internal controls, policies, and promote compliance.
- Perform other duties as assigned by hospital leadership.
The statements describe general work nature and are not exhaustive of all responsibilities, duties, and skills required.
Other Related Functions
- Establish personal performance standards within broad policy frameworks set by leadership.
- Build and maintain effective working relationships.
- Possess strong communication skills.
- Have knowledge of healthcare reimbursement regulations and compliance.
Education/Training
Bachelor’s Degree in Accounting, Finance, Taxation, or Business Administration. MBA or CPA preferred.
Licensure/Certification
CPA preferred.
Experience
10+ years in a management role within healthcare; experience in treasury functions preferred.
Seniority level
- Executive
Employment type
- Full-time
Job function
- Finance and Sales
Industries
- Medical Practices