Job Facility: University of Maryland Medical Center
Employment Type: Full Time
What You Will Do:
SVP & Chief Finance Officer University of Maryland Medical Center
The SVP/ CFO reports directly to the UMMC President/ CEO and has dotted line responsibility to the UMMS EVP/CFO. This position includes the management of the profit and loss statement for the UMMC's business. The SVP/CFO serves as financial and strategic advisor to the CEO and the senior management team in all matters related to financial performance and financial decision making including: strategic planning, business development, financial planning, reimbursement and budgeting. The SVP/CFO provides financial management, information and guidance to UMMC leadership and pursues appropriate growth and expansion opportunities, measures performance, identifies and controls business risks as well as opportunities for improved efficiency and increases the return to the organization. The SVP/CFO has solid line responsibility for the following departments: Finance, Decision Support and Patient Access.
The SVP/CFO serves as a liaison to UMMS shared financial services and has dotted line responsibility for financial services related to UMMC; accounting, financial reporting, revenue cycle, reimbursement, financial planning, payroll, etc. The SVP/ CFO participates with the UMMS shared financial services leadership team on routine functions, as well as system wide projects and initiatives.
Principal Responsibilities and Tasks
Primary person responsible for maintaining positive relationships with the Clinical Chiefs and University of Maryland School of Medicine (UMSOM) Dean. Oversees the annual physician services contract with UMB and UMSOM including all related resource allocations.
Enhances operational performance of clinical programs including clinical and operational performance improvement, cost and utilization management, and overall quality and efficiency measures.
Revenue Cycle oversight of:
admitting and registration (direct)
denial management (direct)
utilization review (shared services)
charge capture and coding (shared services)
Represents the Medical Center at various national, state and local health care meetings, conferences and conventions as required.
Responsible to the Chair of the finance committee of the Hospital board and to the Hospital CEO to for all financial performance and statistical reporting, budgeting, planning and reporting.
Directs financial strategy, planning and forecasts; conferring with hospital VPs and department heads.
Directs, coordinates and supervises all routine and ad hoc reporting for business and volume statistics.
Studies, analyzes and reports on trends, opportunities for expansion and projection of future company growth.
In conjunction with UMMS Shared Financial Services, oversees all company accounting practices, including accounting departments, preparing budgets, financial reports, tax and audit functions.
Provide guidance and support on various reimbursement projects and initiatives at the individual hospital and at the system level with the perspective of the all payor system.
Financial oversight of all UMMC affiliates.
Financial oversight of UMMC joint ventures.
Serve on UMMS system projects and committees as requested.
Interfaces with the Corporate Office and subsidiary entities of UMMS.
Interfaces with Officers of UMB.
Appropriately represents the hospital at the Health System Board of Directors.
Works through the management team and medical leadership of the hospital, serving as a resource to help reduce costs, enhance revenues, achieve effective utilization and quality goals and objectives, analyze and utilize information to develop and support management decisions.
What You Need to Be Successful:
A Master's degree from an accredited college or university in Business, Accounting, Finance, Health Care Administration, or a related field, or CPA is required.
Ten years senior management experience in health care financial planning, modeling budget management, general accounting and financial control and information systems, or equivalent, is required.
Demonstrated knowledge of federal, state and local accounting standards and requirements of regulatory and accreditation agencies; advanced knowledge of budget development, control and evaluation, financial forecasting, cost finding and analysis is required.