Provides financial leadership for the ancillary and allied services and for care-line financial performance. Owns the makeup of the operating budgets and forecasts for ancillary departments, which roll into the hospital, facility, and entity budgets consolidated by Hospital and Ambulatory Finance. Leads care-line modeling and contribution analysis, and serves as the enterprise's lead operational user of patient-level cost data to improve financial performance.
ResponsibilitiesEssential FunctionsAncillary financial planning- Own the makeup of the operating budget and forecast for Pharmacy, Radiology, Lab, and Surgical/Procedural Services, mapped to the hospital, facility, or entity into which each rolls.
- Lead long-range financial modeling for the ancillary services.
- Build ancillary budgets from the volume forecast owned by Hospital and Ambulatory Finance, and deliver them on the budget calendar for facility consolidation.
- Work with ancillary leaders to determine and prioritize capital needs, and submit them through the process owned by the Director of Capital Budgeting.
Service-specific financial leadership- Pharmacy: drug cost and pricing trends, 340B program economics, and specialty and infusion margin.
- Radiology and Lab: volume, productivity, and equipment and automation investments.
- Surgical/Procedural: case volume, supply and implant cost, and throughput impact on margin.
Care-line finance- Provide financial leadership for care-lines, including financial modeling and performance reporting.
- Lead contribution analysis, benchmark, and peer comparisons.
- Provide care-line insights and targets to Hospital and Ambulatory Finance for consideration in facility budgets. Care-line views inform but do not define the budget of record.
Patient-level costing and improvement- Operationalize patient-level financial data to identify variation, drive margin improvement, and guide operational decisions.
- Partner with the Director of Financial Modeling, who owns costing methodology and data, to define user needs and improve the usefulness of the data.
Supply chain partnership- Partner with the Chief Supply Chain Officer on drug, supply, and device costs, contract compliance, and standardization, building committed savings into ancillary budgets.
Leadership- Lead, develop, and evaluate the ancillary finance directors.
- Partner with the Sr. Director of Hospital and Ambulatory Finance to manage the roll-up, agree on attribution of ancillary revenue and cost to facilities, and resolve conflicts.
Knowledge / Skills / Abilities- Knowledge of finance, financial methods, tools and strategies employed by private and public corporations.
- Ability to read, interpret and draw accurate conclusions from financial and numerical material.
- Knowledge of and ability to use processes, tools and techniques for exploring and evaluating alternative financial scenarios and results.
- Knowledge of the functions, tools and processes needed to manage financial assets and liabilities throughout the organization.
- Knowledge of the methods, processes, and tools for maintaining the books of the organization and preparing financial statements and reports.
- Knowledge of financial and accounting applications specific to the organization.
- Demonstrated leadership, human relations, and effective communication skills.
- Demonstrated ability to lead finance leaders and to influence clinical and operational leaders.
QualificationsRequired- Bachelor's degree in finance, accounting, business, or a related field; master's degree preferred.
- Eight or more years of healthcare finance experience, with experience in ancillary, service line, or care-line finance.
- Working expertise in patient-level costing, contribution margin analysis, and benchmarking.
- Knowledge of pharmacy economics (including 340B) and procedural and device cost structures is strongly preferred.
- Proven ability to lead finance leaders and to influence clinical and operational leaders.
Qualifications (Preferred)Preferred- CPA or equivalent professional credential preferred.
Working Conditions and Physical DemandsEmployee must be able to meet the following requirements with or without an accommodation.
- This is a sedentary position that may exert up to 10 pounds and may lift, carry, push, pull or otherwise move objects. This position involves sitting most of the time and is not exposed to adverse environmental conditions.
Physical RequirementsSitting
