Finance Administrator

The Finance Administrator works closely with division chiefs, division administrators, hospital administration, ambulatory administration/operations and other leaders in the health system, School of Medicine and various other stakeholders (i.e. Medical College of Virginia Foundation (MCVF) Children's Hospital Foundation (CHF)) in the development of business plans to direct the tri-partite mission of Departments involving clinical operations, research and educational strategy development.

Essential Job Functions include but are not limited to:

• Comprehensive management and leadership of fiscal and administrative efforts.

• Develop revenue and expense budgets, including grants, expenses, assets, liabilities and contracts.

• Budget development and implementation.

• Oversight of financial operations: revenues, expenses service agreements, grants, and training activities.

• Review, monitor, and analyze Department's financial and operational performance.

• Process improvement and development.

• Negotiate contracts including developing FMV.

• Oversee and manage department compensation plan.

• Manage reimbursements from philanthropic foundations (MCVF/CHF).

• Building program/service line business plans.

• Human resources management.

• Manage regulatory compliance.

• Work within University guidelines and policies to manage and administer research grants and government contracts.

• Operationalizing institution's compensation plan for physician workforce.

• Development of financial models, operational dashboards and ad hoc reporting requests.

Financial Management:

Maintains financial controls for all sources of funds to ensure solvency and compliance with University, Health System and various foundations policies as well as accounting regulations dictated by state and federal law. Oversees all financial aspects of the department (s) to include travel, accounts receivable, internal/external contracts and purchasing.

Duties include but not limited to:

• Prepares financial statement and reports.

• Presents financial reports to the Department Chair, Administrator, Division Chiefs and finance stakeholders in VCUHS/VCU.

• Collaborates with division leadership to implement an equitable and financially sound operating budget.

• Works closely with division leadership and providers in tracking provider productivity.

• Works with MCVP Compensation group on physician compensation.

• Utilize various benchmarking applications to report/recommend compensation and productivity percentiles.

• Reconciles all accounts and research and resolves/explains variances.

• Assists with the development and maintenance of divisional operating budget using the requisite financial accounting systems.

• Monitors expenditures and revenue.

• Performs statistical analysis for forecasting.

• Assists with long range financial planning and projection of revenue and expenditures.

• Collaborates with internal and/or external third-party partners in the equitable and effective management of the revenue cycle operations.

• Works with providers to ensure appropriate documentation for clinical activity is consistent with MCVP and Compliance Services policies.

• Establishes and monitors internal controls of divisional administrative staff as it relates to financial affairs.

• Assists ambulatory and inpatient teams, as needed and appropriate, in the development of business plans to maintain clinic capacity, expansion, and capital requests.

• Network with peer institutions to identify areas of opportunity.

Clinical Operations:

Works with division chiefs and ambulatory leadership to optimize the physician and advanced practice provider practice, including both outpatient and inpatient.

Duties include but are not limited to:

• Develops business plans to increase outreach and grow market share.

• Collaborates with ambulatory, procedural, and inpatient clinical leadership to identify opportunities to increase efficiency and effectiveness of clinical practice.

• Responsible for analyzing provider schedules working with ambulatory, procedural, and inpatient teams to ensure appropriate clinical coverage and optimizing schedules for providers to meet established productivity benchmarks.

• Works with respective program directors to manage GME budget.

• Promotes and assists in departmental marketing efforts.

• Utilizing appropriate benchmarks, ie AAAP, AAMC, Vizient, etc., to ensure compensation correlates to productivity benchmarks.

• Partners with Revenue Cycle team to identify areas of coding optimization.

• Partners with Hospital, Ambulatory, Central and School of Medicine on clinical operation needs.

Human Resources Management:

Manages, supervises, and directs assigned administrative and support staff to include determining staffing needs, recruitment, hiring, work assignments, completing and providing input on performance evaluations, disciplinary/corrective action and employee training and development. Collaborates with VCUHS Human Resources and the HR Business Advisory team to assist in the design, develop, and implement equitable and inclusive strategic and operational human resource management practices for the division /department.

Participates in faculty and advance practice provider recruitment for the Department which includes developing pro-forma to assess financial and program impact of new faculty and services.

Other duties include but are not limited to:

• Communicates with providers and divisional staff to ensure all remain up to date on current health system policies, prepares and handles all related HR paperwork and documents.

• Ensures responsibility and visible commitment of diversity equity and inclusion programs/initiatives through collaboration and implementation of initiatives across the health system.

• Responsible for oversight and compliance for education programs in the specialty for which the Division administrator oversees.

• Development of business plan for Divisional leadership recruitment.

Research Administration:

Directs and oversees contract and grant acquisition, written proposals, budget preparation and administration and monitoring of funds to ensure university, state and federal requirements and regulations are met.

Administers activities that are necessary to the application and management of grant programs focusing on the fiscal and operational aspects. Oversees the administration of expenses charged to grants for appropriateness and confirms that funding is budgeted, and expense is allowable.

Other duties include but are not limited to:

• Serves as Effort Reporting coordinator for the divisions.

• Serves as a liaison to internal and external contacts with PIs, research coordinators, sponsoring agencies, Grants and Contracts Accounting, Office of Research, Office of Sponsored Programs, Purchasing, Accounts Payable, etc. to obtain and manage grants.

• Works with research team to ensure compliance with local, federal and international guidelines regarding conduct of human research.

• Analyzes and reviews grant proposals for compliance with agency and VCU requirements.

• Interprets sponsor programs and advises PI(s), VCU and sponsoring agencies regarding stipulations and the administration of grants.

• Oversees submission of regulatory information to institutional Review Board for new and existing clinical trials.

• Enters negotiations with sponsors (e.g., NIH, pharmaceutical industry, foundations) for budgets and monitors expenses by reviewing and approving all system(s) to track expenditures.

• Maintains knowledge of computer systems used to support research.

• Monitors and works closely with School of Medicine finance with cost shares.

• Primary leader in tracking foundation awards for programmatic development.

• Budget, monitor and analyze variances for foundation grants.

• Primary superuser for organizational budget applications (ie Strata and Anaplan).

Productivity & Compensation Plan Oversight

Works with Division Administrators and department providers in tracking productivity and incentive payments. Collaborates with the MCVP's compensation team to address compensation requests.

Assists with productivity analysis and accountability of Division faculty. In collaboration with Division Administrator/Chief, recommends, oversees and directs remediation plan to meet MCVP and VCU productivity expectations. Works with the MCVP compensation plan team and assists faculty and other providers in the credentialing process and professional liability verification. Will work be proficient in VCU systems and benchmarking applications.

Revenue Cycle Management

Assists the Department Administrator, in partnership with the revenue cycle team, to assure that all elements of revenue cycle are being reviewed on a very regular basis. Review revenue cycle opportunities with Division Administrators and Department leadership.

This includes but is not limited to:

• Billing operations for all services, Outpatient, Inpatient and Procedures.

• Front end processes to assure that patients are authorized for the services performed.

• Report creation and accountability: Denial reports, AR aging, open encounters, etc.

• Coding and documentation accuracy and timeliness.

• Develop and execute plans to improve revenue cycle KPIs along with revenue cycle partners.

Leadership/Relationship Development:

Provides strong team oversight and promotes and manages change. Responsible for ensuring divisional priorities are aligned with the strategy of the organization. Responsible for developing a diverse, equitable and inclusive team culture, and ensures stakeholder feedback is incorporated into operational plans. Represents the department(s) in various committees and task forces as needed. Collaborates with Faculty, advanced practice providers, and staff to ensure open communication and perceived urgency of suggested operational improvements. Responsible for divisional engagement in collaboration with divisional chief(s). Educates Department, Division and providers on funds flow, finances, and operational/statistical reports.

Regulatory Compliance:

Responsible and accountable for supporting efforts to remain in compliance with all federal, state, and regulatory requirements by complying with federal, state, and regulatory agency requirements. Takes prompt and effective corrective action if infractions are identified. Demonstrates cooperation, respect and professionalism during audits and surveys.

Safety/Quality/Performance Improvement/Benchmarking:

Collaborates with faculty, advanced practice providers, management, and team members to establish an environment which speaking up for safety is both encouraged and expected. Identifies opportunities for process improvements as applicable. Regularlytracksandanalyzesmetricsandmonitorskeyperformanceindicatorstoadheretoagreed-totrendsandbestpracticesinordertodevelopstrategies for improvement. Contributes to long- and short-term strategic planning and departmental operations improvement.

Special Projects

Collaborates with Department Administrator on special projects as assigned.

Patient Population:

Not applicable to this position.

Employment Qualifications:

Required Education:

Minimum Qualifications:

Required Qualifications: Table below outlines expectations of work experience of progressively more responsibility in a management position with financial and supervisory oversight.

Primary Duties:

• Comprehensive management and leadership of fiscal and administrative efforts

• Monitor and oversee revenue and expense budgets, including grants, expenses, assets, liabilities and contracts

• Budget development and implementation

• Leadership relationship development

• Oversight of financial operations: revenues, expenses service agreements, grants, and training activities

• Review, monitor, and analyze Department's financial and operational performance

• Manage reimbursements from philanthropic foundations

• Assist building program/service line business plans

• Human resources management

• Oversee and manage department compensation

Knowledge:

Skills:

• Capable financial management, budgetary supervision, and productivity monitoring

• Accounting skills and certification

• Novice in grants administration, pre and post award management, and collaborating with PIs, sponsors and research administration

• Collaborate with administrator on budget forecasting and auditing function

• Familiarity with data analytics and business intelligence platforms

• General understanding revenue cycle workflows, professional billing, and KPI monitoring

Process:

• Complete basic projects as directed with minimal supervision

• Able to prioritize multiple projects with supervision

Communication:

• Effective interpersonal skills with team members, peers, and customers

• Participate in leadership meetings

Complexity:

• Budget and grant management

• Data analytics knowledge (Tableau, Epic, SWP, wRVUs, Vizient, etc.)

• Presentation of complex financial reports with minimal supervision

Education, Certification & Experience

0 - 3 years of relevant experience or successful graduation in an MHA residency program

Education:

• Bachelor's degree in Accounting, Finance, Economics, or other relevant field

• Preferred: Master's degree in business, health administration, or other relevant field

Certifications:

• N/A

Autonomy

Determines and develops approaches to solutions with work subject to general input by manager or senior team members.

Other Knowledge, Skills and Abilities Required:

Must be able to use financial, Human Resources, University and Health System resources to make independent decisions and determine actions necessary to achieve the goals of the Division(s).

Experience with Microsoft software, to include spreadsheets and databases.

Preferred knowledge of various finance and business intelligence (BI) application platforms. Examples: Tableau, Vizient, WorkDay, Strata, EPIC, Anaplan, etc. to develop dashboards/reports used to manage the Department and Divisions.

Cultural Responsiveness:

Demonstrate a commitment to diversity, equity, and inclusion through continuous development, modeling inclusive behaviors, and proactively managing bias.

Other Knowledge, Skills and Abilities Preferred: N/A

Working Conditions:

General Office environment:

May have periods of constant interruptions.

Hybrid remote/on-site.

Experience PREFERRED:

• Administrative and/or financial management work experience in an academic medical center and/or large physician group practice.

• Previous experience with Enterprise Resource Planning Systems, Electronic Health Record systems; and VCU and VCUHS information systems.

• Experience leading diverse teams.

Physical Requirements:

Physical Demands: Lifting/Carrying 0- 50 lbs. (1 - 33% of the time)

Work Position: Sitting, Walking, Standing (1 - 33% of the time)

Additional Physical Requirements/ Hazards:

Manual dexterity (eye/hand coordination)

Hear alarms/telephone/tape recorder

Repetitive arm/hand movements

Finger Dexterity

Mental/Sensory - Emotional:

Mental/Sensory: Strong recall, Reasoning, Problem solving, Listening, Speak clearly, Write legibly, Reading, Logical and Analytical Thinking.

Emotional: fast-paced environment, able to handle multiple priorities, frequent and intense customer interactions, able to adapt to frequent change, and ability to handle occasional difficult conversations with staff and team members.

EEO Employer/Disabled/Protected Veteran/41 CFR 60-1.4.