Director, Financial Planning & Performance

POSITION SUMMARY: Under the general direction of the AVP of Finance, directs the fiscal function primarily concerned with the coordination of the healthcare organizations formal budget program, long range forecasting, third-party reimbursement, and special projects of a fiscal nature. Responsible for improving and maintaining all components of the patient revenue cycle. Ultimately accountable for cash receipts, accounts receivable and ensuring the number of days in accounts receivable remains at or below industry standard. KEY RESPONSIBILITIES: Establishes written instructions for a formal budget procedure. Directs the preparation of annual budget in cooperation with management and department heads. The following budgets should be prepared: a) salary budget; b) supply and expense budget; c) income budget; d) capital budget; e) cash budget. Monitors annual budget for compliance. Analyzes and explains major variances between actual and budget to management and department heads. Integrates prospective pricing-diagnosis related grouping regulatory provisions and data from case-mix systems into the budget projection process. Establishes procedures for accumulation of accurate statistical data necessary for management decisions and completion of reimbursement reports. Supervises the preparation and submission of annual Medicare Cost Report, State CHIA Cost Report, Mass Health RFA Report, UCCR Report, Wage Index Reporting, Occupational Mix Survey, Schedule-H Form 990, Interns and Resident FTE reporting, HSN reporting and multiple Surveys. Supervises the preparation of work papers to support cost reports, including cost data, statistical information and documentation for governmental mandates. Develops and implements strategic initiatives to improve and maintain the patient revenue process under traditional fee Recommends reviews, and/or approves changes to the patient charge structure. Maintains up-to-date knowledge of available information systems. Works cooperatively with the Information Systems department to ensure maximum usage of current system and potential for enhancing systems which will improve patient revenue cycle with minimum staff effort and expense to the System. Fosters communication and develops a joint vision for all areas involved in the patient revenue cycle. Develops productive relationships with all system departments and outside agencies/services. Participates in third-party audits and educational programs as required to maintain a current knowledge of the issues. Develops cooperative initiatives with the Sr. Director of Revenue Cycle and Director, Health Information Management to maintain goals and objectives relative to unbilled receivables. Keeps the AVP Finance informed on the conditions within the payment systems, reimbursement and budget areas. Maintains financial forecasting model and updates periodically during the year. With the approval of the AVP Finance and/or CFO, files formal appeals with third-party payers to maximize reimbursement. Keeps abreast of all standards to ensure compliance with orders or directives issued by duly constituted governmental/regulatory agencies or third-party payers. Renders technical assistance to department heads in preparing budgets. Assists in the planning, coordination, and preparation for interim and year-end audits and prepares annual AFS and footnotes related to Net Revenue and 3rd Party reimbursement. Oversees and prepares year end schedules for the annual financial Net Revenue audit and works with auditors to assist them in the completion of their tasks. Prepares special studies which analyze a specific part of the hospitals operation including departmental PLs, provides information as a basis for managerial decisions. Develops cost accounting systems to be used in both budget and reimbursement applications. Evaluates case mix data needs as it relates to reimbursement for the hospital. Monitors case mix index as it changes from period to period. Assists in recruitment of new personnel; evaluates personnel under his/her supervision. Participates in providing analytical data in order to evaluate possible health maintenance and preferred provider organizations proposed contracts and monitors profitability of those agreements entered into. Has direct management responsibility for manager and support staff in Financial Planning Analysis and Financial Performance Analysis. Responsible for the selection, training and development, performance evaluation, and corrective action as necessary for management positions and through these managers for all staff in assigned areas. Demonstrates respect and regard for the dignity of all patients, families, visitors, and fellow employees to ensure a professional, responsible, and courteous environment. 1. Commits to recognize and respect cultural diversity for all customers (internal and external). 2. Communicates effectively with internal and external customers with respect of differences in cultures, values, beliefs and ages, utilizing interpreters when needed. Performs other duties as assigned REQUIRED KNOWLEDGE SKILLS: Ability to solve practical problems and deal with a variety of variables in situations where only limited standardization may exist. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form. Must be able to reasonably make appropriate judgment in communications and actions with patients, physicians, other associates, outside agencies, and vendors. Must be able to direct, control and supervise the activities of the budget and reimbursement department. Must possess technical and professional accounting skills, have the ability to develop financial and other operational systems to accurately control organization activities, and familiarity with data processing capabilities and procedures. Must be able to schedule meetings and maintain daily and monthly routines, assign personnel and maintain integrity of records. Must have oral and written communication ability to train and supervise accounting personnel. Must possess analytical and problem-solving skills. Must be able to deal with other departmental supervisors to resolve problems and ensure proper scheduling and accuracy of financial information. EDUCATION/EXPERIENCE/LICENSURE/TECHNICAL/OTHER: Education: High school diploma or equivalent required. Bachelors degree with a major in accounting required. Experience and/or Masters degree in accounting or business administration required. Fellow of the Healthcare Financial Management Association and/or certification by State Board of Certified Public Accountants desirable, but not required. Experience (Type Length): Ten years of accounting experience of which two to three years should be in positions with supervisory responsibility. Two to three years of directly related experience in the healthcare field or in the public accounting field performing audits for healthcare facilities or intermediaries desirable. Usually requires four to six months on-the-job training to become familiar with institutions policies and procedures Certification/Licensure: Software/Hardware: Other: