Work Shift
Day (United States of America)
Job Summary:
The Director Financial Operations functions as an on-site financial resource focusing on revenue growth and bottom line performance from the Hospital and Service Line. Supports the on-site managers and directors in budget development by functioning in an educational capacity while complimenting the Horizontal Product Line directors and financial analysts who are primarily responsible for expense management.
This leader takes the lead in new program evaluation with an appreciation of mulit-departmental implications. Supports C.O.N. applications by assisting Department Directors in development of Pro Formas.
Assists with reviewing monthly cost center performance against budget. Working with cost center management, provides reasonable, rational explanations for variances. Demonstrates an inquisitive nature by analyzing and investigating operational performance on a prospective, rather then reactive, basis. Assists AVP of Operations and Chief Nursing Officer with identifying and implementing corrective actions for unapproved budget variances. Provides daily operational productivity guidance to Executive Directors and Managers of Nursing.
The Director provides ad hoc financial education for facility management staff to ensure understanding and compliance with WellStar's stated budget and financial goals and objectives.
Core Responsibilities and Essential Functions:
Support Budget Development and Adherence.
* Development of global statistics.
* Assist on-site management in development of reasonable budgets.
* Review monthly financial statements to determine significant variances and means to correct.
* Review monthly department budgets for expense management and opportunities for cost reductions.
Support New Program Development
* Provide financial support to the Directors responsible for Pro Formas for new programs.
* Focus on multi-departmental implications of new programs.
* Support CON development by acting as a liaison to the Director of Strategic Planning.
Special Projects, as assigned.
* Work with Business Intelligence staff to request, analyze, and interpret data.
* Prepare reports for review by Senior Leadership to help with strategic initiatives.
Enhance Revenue Generation and Valuation
* Review denied claims trends for facility and work with Revenue Management to examine ways to reduce.
* Ensure adequate reserves for contractual allowances. Analyze percentage variances in net-to-gross by payor. Review bad debt trends.
* Review issues that may impact reimbursement in Managed Care contracts and Governmental Programs (Medicare, Medicaid, etc). Work with responsible staff to address.
Enhance Revenue Capture
* Work with Revenue Management to ensure chargemaster accuracy.
* Work with Revenue Management, Patient Access Services, and cost center managers/directors to ensure optimal charge capture (including accuracy of patient type).
* Review daily revenue trends for facility cost centers and investigate significant variances.
Performs other duties as assigned
Complies with all Wellstar Health System policies, standards of work, and code of conduct.
Required Minimum Education:- Bachelors Accounting or Bachelors Finance or Bachelors Other or Masters Business Administration/Management-Preferred
Required Minimum License(s) and Certification(s):
All certifications are required upon hire unless otherwise stated.
Required Minimum Experience:
Minimum 8 years Experience Required (Five years of hospital finance is strongly preferred)
Minimum 3 years of leadership experience Required and
Experience with EPIC, Strata and Workday Preferred
Required Minimum Skills:
Expert level experience with Microsoft Office, Excel and pivot tales; Spreadsheet analysis, budget development, variance analysis, revenue enhancement, proforma, strategic planning, strong communication and presentation skills;
