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Job Opportunity
Job ID: 45016
Positions Location: Charlotte, MI Job Description General Purpose of Job: The
Description:
Positions Location: Charlotte, MI
Job Description
General Purpose of Job:
The Director of Finance for the Regional Health Network acute care hospital(s) effectively serves as the chief financial officer for one or more of the hospitals and associated clinics and is accountable for the overall fiscal well-being of assigned organizations. The Director is accountable to the acute care hospital(s) president or operating officer, providing insights and recommendations on fiscal activities. The Director plans, organizes, and manages the development, interpretation, coordination and administration of the financial services policies and procedures for the acute care hospital(s) and in compliance with the health system-wide policies and procedures of Michigan Medicine.
Essential Duties
Manages and monitors the operations of the acute care hospital(s) fiscal services, assuring achievement of stated goals and objectives in an efficient and effective manner.
Works as a full and official member of the acute care hospital(s) leadership team, serving as the finance subject matter expert.
Develops and implements acute care hospital(s) strategic business plan, budget, and financial goals.
Works with the leaders of the acute care hospital(s) medical group and other medical staff leaders on clinical issues that impact financial performance, ensuring the delivery of quality patient care.
Provides an organizational climate and quality orientation conducive to attracting, retaining, and securing the commitment of people working for the hospital to accomplish its mission.
Creates, assesses, and implements financial policies and procedures overseeing cash management, debt, investments, patient billing, and third-party payor reimbursement.
Prepares and reports financial performance to the corporate governing bodies of the acute care hospital(s) and the Regional Health Network.
Establishes multi-year financial plans that allow for the financial security of the acute care hospital(s) and the implementation of the acute care hospital(s) and the Regional Health Network’s portions of the Michigan Medicine strategic plan.
Is responsible for audit arrangements and relationships with: University of Michigan and hospital auditors, commercial and public health plan auditors, the IRS, pension plan auditors, employee health benefit plan reviewers, and foundation auditors.
Is responsible for providing required and requested information to Michigan State Hospital Finance Authority.
In coordination with corporate governance oversight bodies and the MMCFO, establishes the strategies for pension investments and other assets.
Is responsible for maintaining adequate professional liability insurance according to actuarial requirements and in coordination with the other Michigan Medicine clinical enterprises.
Encourages creative revenue enhancements that will improve the fiscal health and stability of the acute care hospital(s), the Regional Health Network, and Michigan Medicine.
Works with Michigan Medicine Contracting to develop negotiation targets and strategies for commercial insurance reimbursement rates.
Works with Michigan Medicine Reimbursement to review and approve revenue recognition models and charity/bad debt policies, ensuring that the unique operating and market conditions of the acute care hospital(s) are represented.
Works with shared-service accounting and financial reporting to review and approve journal entries, accruals, and performance analytics to recognize the unique operating and market conditions of the acute care hospital(s).
Works with Michigan Medicine Revenue Cycle to ensure efficient collection rates, accounts receivable management, claims denial rates and appeals for the acute care hospital(s).
Shares responsibility with the senior leadership team for monitoring and supporting the implementation of diversity, equity, and inclusion initiatives.
Performs other duties as assigned. These may include but are not limited to: maintaining current knowledge of department processes, protocols and procedures, pursuing self-directed learning and continuing education opportunities, and participating on committees, task forces, and work groups as determined by management
Job Requirements
Work Experience
Has five or more years of progressive leadership experience in healthcare as a manager. Has seven years of experience as a healthcare finance professional with a record of progressive increases in responsibility.
Education
Possesses a bachelor’s degree from an accredited college or university in accounting, business administration, healthcare administration or closely related field. Preferably holds a professional certification credential (e.g. CPA) and/or a graduate degree from an accredited college or university
Specialized Knowledge and Skills
Has the ability to function as a team member in a highly matrixed shared-service organizational arrangement. Demonstrates a solid understanding of business principles and practices and healthcare finance. Has excellent interpersonal skills and is effective communicator with well-developed presentation skills. Must be a strong organizer and planner and have the demonstrated ability to effect change and persuade and motivate others. Is a responsible decision-maker.
University of Michigan Health-Sparrow is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected Veteran status.
Job Family
Management/Professional
Requirements:
Shift
Days
Degree Type / Education Level
Bachelor’s
Status
Full-time
Facility
Sparrow Eaton Hospital
Experience Level
4-9 Years
