Penn Medicine Director Finance - Dept. of Neurology in Philadelphia, Pennsylvania

Director Finance - Dept. of Neurology

  • Job ID :72232

  • Job Category: Accounting/Finance

  • Specialty Area: Accounting/Finance

  • Primary Shift: Day

  • Work Schedule: M-F

  • Penn Medicine Entity: Clinical Practices of the University of Pennsylvania

  • Location: Philadelphia, PA

  • Address: 3400 Spruce St

  • Education Required: Bachelors Degree

  • Experience Required: 3 - 5 Years

  • Employment Type: Full-Time Regular

Penn Medicine is dedicated to our tripartite mission of providing the highest level of care to patients, conducting innovative research, and educating future leaders in the field of medicine. Working for this leading academic medical center means collaboration with top clinical, technical and business professionals across all disciplines.

Today at Penn Medicine, someone will make a breakthrough. Someone will heal a heart, deliver hopeful news, and give comfort and reassurance. Our employees shape our future each day. Are you living your life's work?

Position Description :

Summary of Accountabilities:

The Director of Finance will work closely with the department Chief Operating Officer and Central CPUP Finance in the development of financial analytics to align with CPUP business objectives and oversee the accounting operations of the Department.

Primary Responsibilities:

Operations:

Responsible and accountable for having financial statements and statistical results accurately and consistently reported and prepared on an accrual basis in conformity with general accounting principles and in accordance with Penn Medicines’ policies and procedures. In addition, the individual must have a working knowledge of University/SOM/Hospital/VA side of financial operations.

Accountable to maintain a system of internal/business controls which are designed to provide reasonable assurance to Penn Medicine Management and Trustees that the information for the department is accurate, timely and reliable.

Year end evaluation by Entity CFO

Over-see the monthly financial reporting and variance processes for the department. This includes: review of department, divisional, and physician level income statement and Department balance sheet financial statements.

Prepare, review, and analyze the department’s financial statements including; Patient A/R, Gross & Net Patient Revenue, Other Operating Revenue, InterEntity support and Expenses. Initiate and create remediation plans to improve finances, as needed.

Plans and projects revenue, rate, volume, payer mix, service mix; work RVU’s for new and existing programs, sites, practices, and clinicians. Works with CPUP Finance to identify trends or potential issues. Communicates to department (COO, physician, revenue leaders) to discuss potential impact and create remediation plans.

Analyze revenue opportunities by developing proforma financial statements and ad hoc analyzes to be used in connection with decision support services for expansion opportunities internally and externally.

Accountable for annual budget and current year projections including; department and division P&L projections in a manner to project sufficient detail at a physician level. In addition, prepare a three year department/division level projection (per guidance with CPUP Finance)

Communicate with colleagues to be aware of strategies to enhance patient satisfaction and patient access along with modeling financial implications to drive strategy implications and improvement.

Oversee modeling, tracking, accounting, and analyzing of faculty/provider incentive plans. Leads monthly measurement of physician incentive expense accruals in conjunction with COO.

Accountable for standard financial “package” of information in advance of physician recruitment. Where needed, work closely with Department Chair, Faculty Coordinator and Department COO to complete package.

Accountable for monthly review of mission-based statements for accuracy and identification of issues and trends. Review quarterly with Department COO and make adjustments as necessary.

Work closely with Department COO to prepare business plans for new business ventures, including financial accountability, resource management, and evaluation of implementation requirements, costs and return on investment. Assist and support Department COO and Department Chair in strategic and operational planning initiatives

Work closely with Penn Medicine hospital and external hospital partners for month-end reporting, revenue oversight, overtime reporting, and ad hoc analytics as required.

Create available cash spending reports and projections of restricted and unrestricted fund accounts. As needed, present & discuss fluctuations with stakeholders (i.e. Department Chair, Department COO). DOF is either directly responsible, or should work closely with counterpart at Department school side on these activities.

Accountable for maintain proper control over inventory (if applicable)

Oversee miscellaneous accounts receivable, accounts payable, and purchasing functions. Will authorize all purchase orders and check requests and complete authorization for substantial purchase orders or check requests, per department guidelines.

Responsible for Human Resources function for staff positions including submission of position justification, recruitment, performance management and ensuring mandatory education compliance. Manage and approve employees’ time through e-STAR.

Manage staff utilization and productivity to ensure direct reports are fully deployed.

Review and oversee process for reporting provider productivity standards in coordination with the COO, Chair & Department Medical Director.

Oversee modeling, tracking, accounting, and analyzing of faculty/provider incentive plans. Leads monthly measurement of physician incentive expense accruals in conjunction with COO.

Presents financial data, provides explanations, communicates data and leads discussion with relevant stakeholders (Chair, Division Chief, COO, Health System/PSOM Administration), as requested.

Holds regular meetings and develops working relationship with University counterpart(s) regarding grants, gifts, and endowments to understand relevant touch points between the University and CPUP financials.

Responsible for Department cash management related to CPUP clinical operations.

Work collaboratively with CPUP Finance (central administration) on funds flow rebasing process every three years.

Reviews, analyzes, and updates faculty coverage reports.

Maintains knowledge and current skills using Lawson, BEN Financials, Essbase, Smartview, Hyperion Reports and Planning, Epic APM, Epic Business Objects, SAM, Excel, I payment, etc.. Attend education sessions and seek coaching from CPUP Finance in becoming proficient with applications.

Oversee preparation and submission of internal and external surveys (i.e., AAMC).

Patient /Customer:

Takes personal responsibility for positive customer service and improved department performance

Establishes positive relationships with corporate, practice and external partners, payers, suppliers by demonstrating knowledge of CPUP and industry, treating them with respect and responding to their individual needs

Focuses on department and entity needs by communicating information to appropriate parties(e.g., financial and operational) in a timely manner. Identifies opportunities for performance improvement

Seeks to build new skills, maintain understanding with trends and industry shifts, improve financial and healthcare acumen, and applies new knowledge to work as applicable.

Core Values:

 Excellence

 Integrity

 Diversity

 Professionalism

 Individual Opportunity

 Teamwork & Collaboration

 Tradition

Treats people respectfully.

Effectively manages and efficiently uses all resources.

Is open to and respects differences, ideas, and suggestions.

Does not participate in non-productive activities or conversations.

Maintains confidentiality.

Establishes and maintains good working relationships and partnerships.

Adheres to established policies and procedures.

Always seeks clarity to ensure understanding, keeps work processes reasonable and simple, and balances priorities.

Effectively communicates and ensures understanding of UPHS’ mission, vision, and values.

Makes and keeps commitments.

Meet deadlines and is responsive to requests.

Exemplifies in his/her action principles of collegiality and collaboration at all times.

Identifies and Participates in practice improvement related activities and projects as it pertains to aspects of system improvement.

Minimum Requirements :

Degree Requirements and Minimum Experience Required: Bachelor's degree in accounting, finance or business administration required. Six to Eight years of hands-on experience with general accounting. Prior Academic Physician Practice Plan experience preferred.

Other Requirements:

• Thorough knowledge of established accounting principles, standards and practices and great attention to detail are required.

• Ability to work well in a team environment, handle multiple tasks with deadlines and pressure, adjusting work schedules to meet deadlines.

• Ability to work with standard software packages in a Windows-based environment. Knowledge and use of: Lawson, Hyperion Reports and Planning, EPIC, and Essbase helpful, but not required

Additional Information :

The department of Neurology has a large portfolio of grants, gifts and endowments, so working knowledge of sponsored projects management, including clinical trials is necessary.

Annual Budget Preparation and Planning:

  1. In conjunction with the SOM Administrator, prepare faculty overviews detailing all sources of funding (CPUP funds, SOM funds, PAH funds) and current liabilities (personnel salaries, supplies, other expenses) for the budget year. Hold meetings with faculty to discuss and establish spending plans and incorporate information into the department's budget

  2. Maintain quarterly updates of faculty overviews. Discuss with faculty

  3. Prepare divisional P&Ls with target to be discussed with Chair and Division Chiefs prior to submitting the budget. Prepare narrative with opportunities and threats to reaching the target for each division.

Business Plans for new recruits, retention packages, current startups:

  1. Create financial model for new recruit detailing all sources of funding (CPUP, SOM, PAH) and planned expenses. Prepare a narrative detailing programmatic need as well as assumptions regarding ramp-up and growth.

  2. Verify and secure funding for business plans from all participating departments and SOM by connecting with counterparts in the departments and in the Dean’s office.

  3. In conjunction with the SOM Administrator, reconcile current start-ups and track department and school commitments and spending on a quarterly basis.

Other financial reports and projections:

  1. Prepare a detailed spending report for the Pennsylvania Hospital (PAH) accounts and discuss with the PAH faculty on a monthly basis

  2. In conjunction with SOM administrator, download faculty and staff salary distributions on a quarterly basis. Analyze variance of actual spending versus budget and if needed, initiate corrective action.

Revenue Cycle Management:

  1. Monitor revenue cycle indicators and identify unwanted trends (increase in bad debt, increase in rejections, decrease in revenue recognition rate), investigate and initiate corrective action

  2. Oversee and approve department write-offs.

Outside contracts:

Review budgets for outside contracts to ensure the department is being paid for the agreed scope of work. Prepare fair market value budgets if necessary.

We believe that the best care for our patients starts with the best care for our employees. Our employee benefits programs help our employees get healthy and stay healthy. We offer a comprehensive compensation and benefits program that includes one of the finest prepaid tuition assistance programs in the region. Penn Medicine employees are actively engaged and committed to our mission. Together we will continue to make medical advances that help people live longer, healthier lives.

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EOE/AA, Minority/Female/Disabled/Veteran

We are an Equal Opportunity and Affirmative Action employer. Candidates are considered for employment without regard to race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability, marital status, familial status, genetic information, domestic or sexual violence victim status, citizenship status, military status, status as a protected veteran or any other status protected by applicable law.