Job description
Company Description
When you come to the University of Maryland St. Joseph Medical Center, you’re coming to more than simply a beautiful 37-acre, 218-bed suburban Baltimore, Maryland campus. You’re embarking on a professional journey that encourages opportunities, values a team atmosphere, and makes convenience and flexibility a priority. Joining our team of healthcare professionals means you’ll be contributing to a locally and nationally recognized institution. UM St. Joseph has been recognized by The Leapfrog Group as a grade ‘A’ hospital and by U.S. News & World Report as #3 in both the state and Baltimore Metro area, making UM St. Joseph the highest-ranking community hospital in Maryland. In addition, we’ve been consistently recognized as a top employer by Baltimore magazine.
Job Description
Remote Position - Monday through Friday
Support the development of the Medical Group’s annual budget, conduct variance analysis, and prepare monthly financial reports. Work is performed under limited supervision. Direct report to the Vice President of Finance.
The following statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all job responsibilities performed.
- Prepare and analyze monthly financial statements, including necessary journal entries.
- Monitor billing activity, develop the annual budget, and track revenue and expense variances.
- Participate in physician meetings with the Vice President of Finance to include the presentation of financial information. • Continuously identify opportunities to optimize revenue and reduce costs.
- Calculate monthly and/or quarterly physician incentive compensation using billing/encounter reports.
- Assess the cost-effectiveness of new services and procedures, evaluating third-party payments against incremental costs.
- Develop financial justifications for staffing changes, office expansions, and capital equipment acquisitions, including lease vs. purchase evaluations.
- Generate and distribute monthly dashboards for physicians and practices and maintain data visualizations tracking patient volume.
- Benchmark provider productivity, compensation, and overhead against national, regional, and internal standards.
- Collaborate with senior leadership on business plans and due diligence for practice acquisitions.
- Perform other duties as assigned.
Qualifications
Education & Experience - Required
• Bachelor’s degree in Business Administration, Finance, or related field, or the equivalent combination of education, training, and experience.
• 3 years of financial analysis experience within a healthcare setting (e.g., hospitals, physician groups, and incentive compensation.
• Experience in budget preparation, variance analysis, and financial reporting.
Education & Experience - Preferred
• Master’s degree in Business Administration, Finance, or related field.
Knowledge, Skills, & Abilities
• Familiarity with applicable federal and state laws, rules and regulations (e.g., HIPPA, etc.).
• Advanced skill analyzing physician group financials, including revenue cycle management, cost analysis, and incentive compensation calculations.
• Advanced skill using data analysis tools (Power BI, Tableau, etc.).
• Advanced analytical, critical thinking, quantitative, planning, organizational, and problem-solving skills.
• Effective skill presenting findings, conclusions, alternatives and information clearly and concisely at all levels within the organization.
• Effective skill managing multiple initiatives and meeting changing requirements and priorities to accomplish objectives.
• Strong customer service skills.
• High level of integrity in handling confidential information.
• Exhibit high self-motivation and ability to work and plan independently as well as in a team environment.
• Ability to analyze, compare, contrast, and validate work with keen attention to detail.
• Advanced skill in the use of Microsoft Office Suite (e.g., Excel, Word, PowerPoint).
• Advanced verbal, written and interpersonal communication skills.
Additional Information
All your information will be kept confidential according to EEO guidelines.
Compensation
- Pay Range: $36.83 - $55.29
- Other Compensation (if applicable):
- Review the 2024-2025 UMMS Benefits Guide
