Associate Chief Financial Officer PMMG

Description

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: Associate Chief Financial officer

Entity: PMMG

Department: Finance

Hours: Full-Time

Job Summary:

The Associate Chief Financial Officer (ACFO) works in conjunction with the Chief Financial Officer (CFO) in planning, organizing and directing the financial services, financial information systems, and fiscal management to enable All PMMG practices (CPUP, PSP, PPC, LGHP, Princeton, etc.) to achieve its operational and strategic goals and initiatives in compliance with legal and regulatory requirements. This position is a highly visible position, and considered part of the leadership team to advise and assist the CFO, COO and CEO regarding the successful financial management of the organization.

Accountabilities:

Oversee projected revenue, rate, volume, payer mix, service mix; work RVU’s for new and existing programs, sites, practices, and clinicians to identify trends or potential issues. Communicate to Department (COO, physician, Site Team Chiefs, Faculty, and revenue leaders) to discuss potential impact and develop remediation plans. • Compliance and Management Control – Ensure that operations fully utilize appropriate financial controls and are in compliance with Federal, State, Professional and Local financial requirements. • Revenue Cycle • Consult in revenue cycle services for both professional and technical billing to ensure best financial position for Departments and the hospital entities • Develop tools, metrics and measures of revenue cycle performance and interface with other Department’s operational and financial performance metrics. • Interface with Hospital and Physician Billing offices and Penn Medicine Revenue analytic teams • Interface with the Department analytics team to develop and monitor dashboards for financial and productivity measures • Financial Operations/Processes: • 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. Maintain 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. • Oversee the monthly financial reporting and variance processes for the Department and hospital entities. This includes: review of Department, divisional, and physician level income statement and Department balance sheet financial statements. • Ensure preparation 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. • Oversee annual budget and current year projections including; Department projections in a manner to project sufficient detail at a physician level. • Oversee and review the Department Five-year Department/practice/site team level projections • Accountable for capital budget and preparation of ROI for CPUP and Hospital Entities • Communicate with colleagues at all Entities o be aware of strategies to enhance patient satisfaction and patient access along with modeling financial implications to drive strategy implications and improvement. • Analyzing department faculty/provider incentive plans to comply with CPUP Principles. • Accountable for monthly review of mission-based statements for accuracy and identify issues and trends that impact shortand long-term financial viability of Departments • Consult with Department COOs preparation of business plans for new business ventures, including financial accountability, resource management, and evaluation of implementation requirements, costs and return on investment. • Accountable for maintain proper control over inventory for CPUP and Hospital Entities as well as PSOM • Oversee miscellaneous accounts receivable, accounts payable, and purchasing functions. • Manage Central CPUP Finance staff utilization and productivity to ensure direct reports are fully deployed. 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... • Present financial data, provides explanations, communicates data and leads discussion with relevant stakeholders (CEO, CFO, Central CPUP Operations) on a routine basis. • Hold regular meetings with CPUP DOFs as it relates to financial operations and planning. • Responsible for Department cash management related to CPUP clinical operations. • Reviews, analyzes, and updates faculty coverage reports. • Maintain knowledge and current skills using Lawson, 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 • Performs duties in accordance with Penn Medicine and entity values, policies, and procedures • Other duties as assigned to support the unit, department, entity, and health system organization

Qualifications:

Bachelor's Degree Business, Accounting, or a related field preferred. And 7+ years Relevant healthcare business and financial services experience.

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.

Live Your Life's Work

We are an Equal Opportunity 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.