Financial Business Partner

Exemption Status:

Schedule Details:

Scheduled Hours:

Shift:

Hours:

Cost Center:

This position may have a signing bonus available a member of the Recruitment Team will confirm eligibility during the interview process.

At UMass Memorial Health, everyone is a caregiver - regardless of their title or responsibilities. Exceptional patient care, academic excellence and leading-edge research make UMass Memorial the premier health system of Central Massachusetts, and a place where we can help you build the career you deserve. We are more than 16,000 employees, working together as one health system in a relentless pursuit of healing for our patients, community and each other. And everyone, in their own unique way, plays an important part, every day.

Major Responsibilities:

Education and Guidance:

• Functions as the Finance Business Partner to the clinical and operational service lines. Provides education and guidance for department and service line leaders related to sources of financial and operational data and reports.
• Functions as the subject matter expert regarding management reports provided to department and service line leaders and functional area managers.
• Provides training and interpretation to clinical managers.
• Reports inclusive of Medical Center and Medical Group detailing financial performance reports, budget reports, productivity report and various scorecards or dashboards.
• Service line activities may include member and affiliate hospitals. Provides feedback and input to report development and performance analysis.

Budget Support:

• Provide assistance to Vice Presidents, managers, and service line leaders in developing operational budgets.
• Review intercompany transactions and provide recommendations for changes in funding based on funds flow principles and SLAs representing services purchased/provided and/or investments being made.
• Provide financial analysis when appropriate.
• Assist in revenue and cost initiatives, track initiatives and report on progress.
• Meet with Vice Presidents, managers and service line leaders on a monthly basis to review performance.

Performance Tracking and Reporting:

• Meets regularly (at least monthly) to review various financial performance, operational and scorecard reports.
• Assist in the development of reports and scorecards that will be meaningful and actionable to the service line leaders and managers.
• Identifies significant variances and trends, presents progress reports to the service line leaders and senior leadership and makes recommendations for corrective action as necessary.
• Follows up on questions from department and service line leaders and provide more in depth analysis on various items as requested.

Opportunity Identification:

• Assist department and service line leadership in identifying various opportunities for performance improvement in the areas of volume growth, revenue improvement and expense reduction.
• Coordinates with other finance departments to provide the needed data and information for analyzing such opportunities including revenue cycle analysis around charge capture, denials/write-offs, billing issues, etc.
• Identifies expense opportunities utilizing benchmarking and productivity analyses.

Strategic Business Planning:

• Participates in service line planning activities such as the coordination of proposed business plans for various enhancements to the service line operations including analysis of capital expenditures for new equipment, changes in location, addition of new physicians and/or services.
• Coordinates the appropriate finance resources to provide projected performance analysis and business plans around such changes.
• Presents various market analyses to service line leaders as provided by Marketing, Strategic or Financial Planning.
• Works in conjunction with representatives of the Medical Center and the Medical Group to define and prioritize departmental strategy and direction.

Position Qualifications:

License/Certification/Education:

Required:

• Bachelor's degree in Business Administration or equivalent experience required.

Preferred:

• Master's degree in Business Administration preferred.

Experience/Skills:

Required:

• Five years of related experience required, preferably in a Healthcare setting.
• Must be highly motivated and dedicated professional who demonstrates a strong commitment to excellence, customer focus, and understands the importance of accountability.
• Must have problem solving abilities, work independently and communicate effectively.
• Able to manage high quality and exceptional customer service in a fast pace environment.
• Requires some flexibility to work off-hours as required to deploy systems, work with IS for system testing, upgrade testing, support customers, resolution of production problems, and respond to system emergencies.

Preferred:

• Minimum of 2 years of experience working with cost accounting systems preferred.
• Knowledge of major accounting and Business Intelligence systems preferred. Hospital clinical or operational experience preferred.

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.

We're striving to make respect a part of everything we do at UMass Memorial Health - for our patients, our community and each other. Our six Standards of Respect are: Acknowledge, Listen, Communicate, Be Responsive, Be a Team Player and Be Kind. If you share these Standards of Respect, we hope you will join our team and help us make respect our standard for everyone, every day.

As an equal opportunity and affirmative action employer, UMass Memorial Health recognizes the power of a diverse community and encourages applications from individuals with varied experiences, perspectives and backgrounds. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, gender identity and expression, protected veteran status or other status protected by law.

If you are unable to submit an application because of incompatible assistive technology or a disability, please contact us at talentacquisition@umassmemorial.org. We will make every effort to respond to your request for disability assistance as soon as possible.