Job Description
The Department of Medicine has an outstanding opportunity for a Senior Director, Finance and Clinical Programs to join their team.
About this Opportunity:
Reporting to the Vice Chair of Finance and Administration of the Department of Medicine and as a senior member of the Executive Leadership team, the Senior Director, Finance and Clinical Programs is an advisor to the Chair, VCFA, Service Chiefs, Division Heads and Division Administrators. Provides evaluation and assistance with their financial plans and analysis. The Senior Director, Finance and Clinical Programs has fiduciary responsibilities of the Department’s $600 million budget; including directing oversight of the Department budget, long-range financial plans, which includes budgets and funds from federal, state, practice plan, private, University and foundation sources, signature authority, reporting and analysis of the funds. As well as overseeing the vast clinical enterprise of the department including the clinical revenue cycle, productivity and compensation for our clinical faculty which includes strategic planning and coordination and negotiations with medical centers. A deep understanding, managing competing priorities and ability to monitor the pulse of the clinical operations and finances is vital to the success of the department and this position.
Key Responsibilities:
The Senior Director, Finance and Clinical Programs is responsible for oversight of all departmental revenues and financial activity and overseeing the departments central finance team and clinical program team. For the finance team, the responsibilities include managing the annual strategic planning and budget process for the department and divisions as well as monthly financial reporting and analysis for all activities. For the clinical program team, it includes annual UWP budget and clinical funding process with UW Medicine, managing strategic planning for all clinical programs in conjunction with UW Medicine leadership, as well as ongoing (daily, monthly and annual) management of the clinical revenues and expenditures for each division in the department. This role includes managing clinical productivity, maximizing coding and reimbursement, and evaluating physician compensation and divisional incentive plans. The position is directly accountable to the Chair and the Vice Chair of Finance and Administration of the Department of Medicine for the successful accomplishment of these tasks.
FINANCIAL PLANNING, BUDGETING, FINANCIAL REPORTING AND ANALYSIS (25%)
The Senior Director, Finance and Clinical Programs will be responsible to organize and direct the annual budget process for the DoM including development of annual budgets for each Division and for all DoM Central units. Process includes completing a full DoM budget including UWP budget and other key factors including commitments and long-term funding obligations.
- Oversee monthly and annual financial reporting for the DoM at both Division and Central Unit level. Continually assess the reporting process to ensure it provides VCFA and Chair necessary insight in the financial status and performance of each Division, each Central Unit and the DoM in its entirety.
- The annual budget and funding process will be linked to the Strategic planning and initiatives of the Department.
- Assess DoM financial performance against both the annual budget and the department's long-term strategy.
- Development of strategic financial plans for the department. This will include financial analyses, proposals and implementation plans for new programs, and the analysis to changes in existing programs if necessary.
- Develops policy and oversee compliance for sponsored research programs.
- Translates department objectives into financial strategies for short- and long-term planning.
- Interpret policies and regulations concerning the department's financial activities, ensuring compliance with the University's policies and procedures as well as guidelines from the federal government, state and other research sponsors.
- Develops and monitors policies and procedures to direct financial activities and establish the department's position on financial matters.
- Preparation and presentation of departmental monthly financial reporting to department leadership and quarterly financial reporting to dean’s office
- Direct and oversee all financial operations for the central administrative units including allocation of resources, forecasting, and implementation of policies and monitoring of activities. Develop and implement division financial reporting for the division and department Leadership.
- Compile, interpret and communicate financial information to various audiences including the Department leadership, faculty, and other stakeholders within UW Medicine
- Development of monthly financial dashboard and metrics.
- Oversight of departmental budgeting process and organizational performance against both the annual budget and long-term financial strategy
- Develops, interprets, and communicates financial information to various audiences including UW Medicine leadership, faculty, and external stakeholders as appropriate.
- Organizes and directs the department's financial support operation.
CLINICAL PROGRAMS AND MANAGEMENT(20%)
The Senior Director, Finance and Clinical Programs is responsible for oversight of clinical finance strategy and operations for the department. In this role, the senior director and their team will partner closely with the department leadership (Chair, VCFA, Divisions Heads and Division Administrators) to ensure robust department-wide reporting, cohesive approaches with internal and external partners, alignment across faculty compensation and incentive programs, and appropriate prioritization and management of resource requests and allocations.
- Oversee clinical revenue cycle and faculty funding processes in collaboration with UWP practice plan, medical center executive leadership, SOM and departmental leadership.
- Evaluate and make recommendations on clinical faculty compensation models across divisions and department.
- Apply and use specialized knowledge to partner with divisions to create and implement clinical incentive programs.
- Support departmental participation in system-wide funding discussions and decision-making.
- Oversee clinical finance management; provide frequent updates to division heads, administrators and departmental leadership; educate, counsel and provide recommendations on departmental strategy and clinical focus areas in light of financials.
- Oversee development of annual UWP budget and departmental clinical budgeting.
- Engage in clinical funding discussions and planning with department, School of Medicine and medical center leadership. Represent Department of Medicine Chair, Executive Vice Chair and Vice Chair of Finance and Administration in school-and system-wide committees on clinical and operational financial models.
- Evaluate and negotiate on requests for clinical funding on behalf of the department with medical center leadership and School of Medicine leadership
- Monitor divisional clinical budgets; proactively address opportunities with divisions for increasing clinical revenue.
- Oversee evaluation and analysis of existing funds flow within the department, including activities funded on a per wRVU basis versus activities with direct hospital funding.
CLINICAL PRODUCTIVITY & INCENTIVE PLANNING (20%)
Actively promote collaboration, efficiency, and shared strategy by partnering with the EVC and lead clinical revenue cycle team and clinical analysis team to achieve the following goals:
- Continuously evaluate existing divisional practices for clinical productivity standards. Develop and implement evaluation and feedback procedures to monitor program goals and effectiveness.
- Develop and set standards and benchmarks across the department about clinical productivity and/or cFTE expectations in preparation for transition to departmental funding based on productivity and compensation benchmarks
- Formulate and implement an education and monitoring plan for new standards and benchmarks. Devise and oversee initiatives to improve and modernize departmental communications about clinical productivity, including collaboration with UWP to create dashboards and monitoring tools to empower division heads and administrators to educate and communicate with faculty.
- In partnership with manager of clinical revenue and operations, analyze and validate current revenue cycle approaches and services provided to divisions in order to optimize billing practices and service to division leadership and faculty members.
- Audit clinical incentive plans and develop recommendations for clinical incentive plan implementation. Consult with divisions on implementation of clinical incentive plans. Monitor progress over time.
- Represent the interests of the department in meetings and relationships with University of Washington Physicians (UWP) leadership and staff.
- Understand, provide expert knowledge and oversee ongoing management of our proprietary charge capture database.
- Regularly and proactively communicate with departmental and other stakeholders on status of revenue cycle management and processes. Critically comprehend and proactively address concerns that affect departmental billing.
- Liaise closely with team staff and UWP and UW Medicine compliance leadership to ensure faculty compliance. Maintain awareness and disseminate information regarding federal, state and local regulations and laws that could have impacts; recommend steps to maintain compliance.
CLINICAL STRATEGY & PRIORITIZATION (10%)
Our clinical enterprise spans a variety of sites and we have a broad set of clinical initiatives being considered and implemented at any given time. The role of the Senior Director, Finance and Clinical Programs will be to strategically partner with our clinical and departmental leaders to develop and solidify department-wide clinical strategies that will benefit our patients, faculty, and departmental bottom line. This role will be regularly engaged in assessment, strategy and prioritization of clinical initiatives from a myriad of stakeholders, and will partner with the EVC to create and implement the most beneficial clinical strategy among these options.
Departmental clinical strategy determination, prioritization and coordination:
- In partnership with executive vice chair, division heads and administrators, assess clinical landscape in the Department of Medicine and make determinations on department-wide strategic priorities for clinical growth, deployment and optimization of departmental revenue across our many sites.
- Strategically partner and develop a strong relationship with hospital leadership and administration to identify, devise and implement mutually beneficial clinical strategies; direct clinical operations team in support of aforementioned EVC & Director vision on these strategies.
- Manage SBARs, division interactions, interactions with associate and assistant hospital administrators in support of strategic initiatives for Dept of Medicine; direct team in analysis and interactions with hospital analysts on preparation of SBAR documentation.
- Work extensively with divisions to counsel and advance strategic clinical initiatives based on a deep understanding of clinical services across all divisions and sites.
- Make recommendations on recruitment and retention issues that impact clinical site staffing in support of clinical strategy.
- Partner with service chiefs on evaluating and delegating necessary operational work at sites to departmental or divisional staff.
- Evaluate and devise strategies to support inpatient staffing management across department; direct staff on implementation of strategies.
- Stay informed and up-to-date on operational considerations across sites for reporting and strategizing with the EVC
CONTRACTING AND FACULTY COMPLIANCE MANAGEMENT (10%)
As CFO will have responsibility to oversee the DoM staff managing contracting and faculty regulatory compliance reporting which includes:
- Provide oversight of the contracting process across the DoM. Ensure new contractual relationships are completed in a timely and compliant process for all DoM divisions and units which are consistent with UW policies. Contract include Clinical, Research, Goods and Services agreements, educational agreements and other MOU’s.
- Provide oversight and guidance to the faculty outside work (1460 form) process for all faculty in the DoM. Ensure process occurs timely and issues are resolved effectively and compliantly.
SUPERVISION AND LEADERSHIP (10%)
As the Senior Director, Finance and Clinical Programs, you will oversee a team of 6 FTE's (plus additional in-direct reports) (always subject to change) which includes the Departments central finance team who will support and lead the annual budgeting process as well as monthly financial operations, reporting, and financial analysis, and the team responsible for management of revenue cycle, analysis and analytics, and clinical funds flow.
The Senior Director, Finance and Clinical Programs will also provide leadership and mentorship to the 9 Division Administrators, establish strong working relationships with 11 divisions, the dean’s office, and other UW/UWP offices and work toward an environment of innovation and change for the department and institution as a whole including but not limited to
- Provide leadership, training, development and mentorship to the finance staff including direct supervision of financial staff. Provides leadership and mentorship to the Division Administrators.
- Oversee the orientation of new Division Administrators and financial staff as it relates to financial reporting and analysis, process and procedures.
- Maintains strong working relationships with 11 Divisions, Dean’s Office, Medical Centers and other UW/UWP offices.
- Department liaison with the various UW central offices including but not limited to: CRBB, MA&A, GCA, OSP and other central offices.
SPECIAL PROJECTS & OTHER DUTIES (5%)
- Other duties and ad hoc special projects on as assigned on an as needed basis.
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