Director of Budgeting & Finance - Internal Medicine

Under general direction, prepares and analyzes the Internal Medicine department's clinical operating and capital budgets; researches and evaluates business and financial proposals and opportunities; coordinates the implementation of approved projects and proposals.

CHARACTERISTIC JOB TASKS AND RESPONSIBILITIES:

• Directs the budget development process; provides guidelines for the divisions within the department of internal medicine; prepares and analyzes financial information, projections, and data; compares actual performance to budgeted performance; provides analytical and technical support to divisions within the department; manages collection rates for billing areas by working directly with the PMO and recommends adjustments; oversees and/or approves clinical fund expenses. This includes oversight of clinical and research.
• Coordinates directly with PMO to gather data on upcoming regulatory and payer mix changes and facilitates the sharing of knowledge regarding the potential opportunities/impacts with the Chair/division directors.  This includes developing a point of view (and communicating to Chair/division directors) on how to manage negative impacts while taking advantage of opportunities.
• Know the market and become a resource for Chair and division directors to share ideas.
• Coordinate the implementation of strategic quality metrics for outpatient, inpatient and procedural metrics.  Implement a periodic review and communicate results to Chair/division directors.  Coordinate with the SOM Quality team and Patient Safety and Quality Committee.
• Directs long-range planning process for department of internal medicine divisions; manages development and analysis of new initiatives including comprehensive financial proformas, market demand analyses, and capital and operating requirements; oversees existing business analysis management; responsible for contract development and management with outside entities.
• Monitors billing and compliance activities; including the Department related Academic Affiliation Agreement (AAA) contracts and other third party contracts, and ensures departmental compliance and proper invoicing occurs with those activities.  Oversees reconciliation each quarter to evaluate the difference between the budgeted contract amount, the AAA submitted amount and the actual contract invoices issued and collected.
• Makes recommendations to department chair/director for cost savings or revenue enhancements and for opportunities to expand services.
• Prepares and presents the annual budget, quarterly forecasts and monthly financial statements (with variances) to the Chairman/Director and to faculty at the Department monthly/quarterly meetings.
• Responsible to ensure complete and accurate monthly financial reporting (e.g. at the end of each month revenues and expenses incurred but not yet invoiced, or billed, are computed with supporting documentation and provided to SOM to book corresponding JEs).
• Analyzes profitability of non-cancer infusion services and chemotherapy regimens, recommending changes and/or discontinuance.
• Reviews division and department level data related to compensation for faculty and staff in coordination with HR and use of the AAMC benchmark; accumulates charter data from the IM divisions and is responsible to review the faculty charter data and the related incentive payments approved by SOM Committee; understands the charter performance standards and is able to discuss the results with the providers (e.g. monthly charges, receipts and productivity); as part of monitoring the monthly provider performance (in collaboration with the SOM charter team) assists the Chair in the development of action plans for those who are outliers from targets set in the charter. Such action plans are monitored for execution.
• Prepares/reviews detailed proformas to support recruitment of new faculty which is inclusive of consideration of other salaries as well as benchmarks and other general expenses; coordinates with SOM PRC to inform them of recruitment requests via use of the change order process and actively manages the terms and coverage expected as part of developing the proforma request.
• Analyzes and adjusts labor distribution expenses, ensuring compliance across teaching, endowment, clinical and designated funds; reconciles discrepancies; supervises staff and oversees and directs administrative functions.  This includes a comparison of the faculty data (FTE allocation) submitted for charters, the AAA proforma data to Workday financials to maintain complete and accurate data.
• Facilitates/coordinates training to educate other professionals on financial and quality metrics. 
• Performs special projects and other duties as assigned.

KNOWLEDGE, SKILLS, ABILITIES AND PERSONAL CHARACTERISTICS:

• Knowledge of financial management and budgeting methods
• Knowledge of general business management and healthcare issues
• Interpersonal human relations skills
• Strong supervisory skills strong analytical skills
• Written and verbal communication skills
• Organizational and planning skills
• Ability to operate personal computer with various software programs
• Ability to maintain high level of confidentiality