General Summary of Position
Incumbent has administrative responsibility and accountability for operational & financial analysis and support activities of the physician practice and related service line operations, both at a granular/local and regional scale. The incumbent ensures compliance with the Hospital mission and financial goals, JCAHO and other regulatory agencies. These functions are performed in accordance with all applicable laws and regulations and Georgetown University Hospital's philosophy, policies, procedures and standards.
Primary Duties and Responsibilities
Assumes responsibility for business & financial analysis and operational planning for the service line in conjunction with service line leadership. Supports service line leadership in the execution of daily and long-term goals. Administrates and maintains organization of the professional practice and other service line areas as needed. Responsibilities are executed in accordance with standards and criteria established by JCAHO, State, Local and Federal agencies to ensure compliance to those external requirements.Assists with the development of the annual division and hospital budgets and requests for information in collaboration with service line leadership, forecasting programmatic needs to achieve articulated goals. Assists service line leadership with financial monitoring and reporting, including financial analysis and funds flow. Acts as service line resource for financial and revenue cycle questions by developing, overseeing, and monitoring physician deployment, providing purchasing & payroll oversight, evaluating work RVU activity, developing regional budgets, and resolving budget variances to achieve best practice benchmarks and ensure operational viability.Acts as a subject matter expert in administration of physician practice including patient-facing and internal functions. Responsible for onboarding & ongoing support of physicians & other providers in the professional practice. Maintains current knowledge of health care issues, standards of practice, CPT/ICD-9 codes and professional group activities to facilitate effective planning/management.Establishes and implements data collection & analysis to ensure efficient use of staff, equipment and supplies. Conducts assessments of clinical operations to maximize overall efficiency and optimal department performance. Gathers information to ensure internal and external satisfaction, cost effectiveness and efficiency of service line operations.Manages (directly or through delegation to other staff members) support staff personnel as assigned to include, but not limited to, interviewing, hiring, orienting, training, scheduling, coaching, counseling, evaluating, promoting and terminating employees.Develops, prepares and analyzes monthly profit and loss reports for clinical or service line operations of the Department. Regularly monitors expenses for appropriateness and properly allocates to divisional level. Ensures revenues are properly credited and reflected, and works with service line leadership to present analysis on operational and financial performance.Completes appropriate financial reports for internal and external obligations including monthly reconciliation reports for assigned service line and/or hospital and university accounts. Develops business plans and cost/benefit analyses for proposed provider & staff recruitment, new services and/or locations.Aids service line leadership in developing process improvement strategies and standard operating procedures and policies for the Division of Hematology/Oncology. Responsible for continued monitoring of data related to strategies implemented and providing feedback.Continually scans the environment for changes and advances that will impact the service line, including participating in the development of the strategic plan, developing new services based on identified needs, and work with internal and external organizations to develop, coordinate, and market these services.Contributes to the achievement of established department goals and objectives and adheres to department policies, procedures, quality standards, and safety standards. Complies with governmental and accreditation regulations.Communicates and collaborates with personnel in the Medical Center/Hospital/University departments to coordinate, advocate, and develop relationships and programs that will further the mission of the service line. Acts as a liaison between segments of the business to ensure cultural, financial, and operational cohesiveness. Performs other duties and responsibilities that are appropriate to the position and area. The above responsibilities are a general description of the level and nature of the work assigned to this classification and is not to be considered as all-inclusive.
Minimum Qualifications
Education- Bachelor's degree In area of health care management or business required or
- Master's degree in area of health care management or business preferred
Experience- 5-7 years Progressive responsible experience in a healthcare setting, with previous personnel management experience preferred
- Financial analysis & budgetary responsibility experience, preferably in a healthcare setting. Must have strong computer and organizational skills. required
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Knowledge, Skills, and Abilities- Must be able to work well and communicate with people on all levels, strong computer skills, and strong organizational skills
- Must have knowledge of office automation; experience with Cerner EMR reporting a plus
- IDX Scheduling capabilities or competency within 3 months of hire
- Must be accurate and detail oriented with an ability to handle multiple projects and reach multiple deadlines
- Excellent oral communication, writing, skills
- Must have excellent Microsoft Excel skills & knowledge of financial reporting presentations
Why MedStar Health?
At MedStar Health, we understand that our ability to treat others well begins with how we treat each other. We work hard to foster an inclusive and positive environment where our associates feel valued, connected, and empowered. We live up to this promise through:
- Strong emphasis on teamwork-our associates feel connected to each other and our mission as an organization. In return, our effective team environment generates positive patient outcomes and high associate satisfaction ratings that exceed the national benchmark.
- Strategic focus on equity, inclusion, & diversity-we are committed to equity for all people and communities. We continue to build a diverse and inclusive workplace where people feel a sense of belonging and the ability to contribute to equitable care delivery and improved community health outcomes at all levels of the organization.
- Comprehensive total rewards package-including competitive pay, generous paid time off, great health and wellness benefits, retirement savings, education assistance, and so much more.
- More career opportunities closer to home-as the largest healthcare provider in the Baltimore-Washington, D.C. region, there are countless opportunities to grow your career and fulfill your aspirations.
About MedStar Health
MedStar Health is dedicated to providing the highest quality care for people in Maryland and the Washington, D.C., region, while advancing the practice of medicine through education, innovation, and research. Our team of 32,000 includes physicians, nurses, residents, fellows, and many other clinical and non-clinical associates working in a variety of settings across our health system, including 10 hospitals and more than 300 community-based locations, the largest home health provider in the region, and highly respected institutes dedicated to research and innovation. As the medical education and clinical partner of Georgetown University for more than 20 years, MedStar Health is dedicated not only to teaching the next generation of doctors, but also to the continuing education, professional development, and personal fulfillment of our whole team. Together, we use the best of our minds and the best of our hearts to serve our patients, those who care for them, and our communities. It's how we treat people.
MedStar Health is an Equal Opportunity (EO) Employer and assures equal opportunity for all applicants and employees. We hire people to work in different locations, and we comply with the federal, state and local laws governing each of those locations. MedStar Health makes all decisions regarding employment, including for example, hiring, transfer, promotion, compensation, benefit eligibility, discipline, and discharge without regard to any protected status, including race, color, creed, religion, national origin, citizenship status, sex, age, disability, veteran status, marital status, sexual orientation, gender identity or expression, political affiliations, or any other characteristic protected by federal, state or local EO laws. If you receive an offer of employment, it is MedStar Health's policy to hire its employees on an at-will basis, which means you or MedStar Health may terminate this relationship at any time, for any reason.
