When you join the growing BILH team, you're not just taking a job, you’re making a difference in people’s lives.
Finance Manager for Department of Orthopedics is responsible for:
• The accurate budgeting and reporting of profit and loss statements and all financial reports for the Departments of Orthopedic Surgery.
• Revenue cycle operations and reporting
• Working with individual service lines and physicians to analyze divisional profit and loss statements and improve performance at an individual practice level.
• The proper preparation of physician compensation and allocation models; Measures operational performance of the divisions and identifies opportunities and assists in the implementation of any enhancements.
• Internal control processes. Coordinates and manages financial information between HMFP and BIDMC budget and finance departments.
• Coordinating financial planning and analyses for program and business development activities, within clinical, research and academic areas.
• Coordinating finance and operational teams to accomplish the above.
Job Description:
PRINCIPAL DUTIES AND RESPONSIBILITIES:
1. Overall responsibility for the timely preparation of annual financial budget, including revenue, operating expense, capital budget, and cash flow plans for the department.
2. Ensure that finance functions operate to meet monthly and quarterly reporting requirements needed to support the practices and HMFP and BIDMC fiscal reporting requirements. Provides oversight and direction on a business unit, service line, and physician level basis. Responsible for the monthly variance reporting and re-forecasting of the groups.
3. Work with senior leadership to coordinate information requests, problem identification, and problem resolution, to help ensure that departmental billing operation complies with all established policies and procedures.
4. Overall responsibility for revenue cycle operations within the Department. Create, manage and provide continual feedback to Department Chairman, CAO, and Practice Management to assure optimal revenue cycle performance. Ensures that all information provided to revenue operations is accurate and timely to meet obligations. Interacts with HMFP and AR company on a regular basis, and identifies opportunities and mechanisms to improve financial outcomes as appropriate. Update faculty on any contracting issues relevant to their practices.
5. Develop physician and site level budgets based on overall plans of the organization.
6. Develop the expense allocation methodology.
7. Perform accounting activities in conjunction with HMFP and BIDMC finance departments to ensure accurate monthly application of revenue and expense. Complete, as needed, all transactions to ensure appropriate physician compensation.
8. With CAO direction, preparing business plans and financial impact analysis for new programs, change in physicians, staff, etc. Identifies risks and opportunities, understanding base assumptions for strategic growth of the departments.
9. Responsible for comparative analysis for department and physician level multi-year plans.
10. Oversee all fiscal operations in the departments. Manage department’s financial analyst and accounts payable staff. Responsible for establishing and monitoring individual goals, conducting performance evaluations and professional development plans for staff.
11. Translate information from budget, accounting, and analytic processes into effective communication tools for multiple audiences including senior leadership and physicians.
12. Responsible for financial analysis and recommendations for cost effective operations and improvements.
13. Manage revenue control and cash reconciliation.
14. Establish and documents departmental policies and procedures for financial, compensation, reimbursement, and administrative issues.
15. Perform all other duties as assigned.
QUALIFICATIONS:
- Bachelor’s Degree. Masters degree preferred.
- Five to seven years of experience in healthcare and business environment.
- Previous experience with budgeting, financial analysis and modeling, and reimbursement.
- Previous financial operations management required.
- Exhibits exceptional judgment and discretion in interacting with physicians and senior management on sensitive political and confidential issues.
SKILLS/ ABILITIES/ COMPETENCIES REQUIRED:
1. Must be extremely well organized to handle multiple tasks simultaneously under sometimes tight deadlines.
2. Excellent communication skills to be able to communicate with a wide audience (e.g. physicians, senior administrators, patients, senior finance staff) on complex problems.
3. Ability to negotiate and work with a variety of internal and external entities.
4. Ability to analyze a diverse set of information and to prepare and execute an action plan of problem identification and resolution.
5. Strong information systems familiarity essential. Excellent problem solving skills
6. Ability to work extremely independently.
7. Ability to handle sensitive and confidential patient and employee information.
WORKING CONDITIONS:
Fast-paced office environment with time-sensitive deadlines.
SUPERVISORY RESPONSIBILITY:
Responsible for the direct management and reporting of (1) financial analyst and indirect of accounts payable staff across organization.
Pay Range:
$130,000.00 USD – $159,994.00 USD
The pay range listed for this position is the annual base salary range the organization reasonably and in good faith expects to pay for this position at this time. Actual compensation is determined based on several factors, that may include seniority, education, training, relevant experience, relevant certifications, geography of work location, job responsibilities, or other applicable factors permissible by law.
