Add expected salary to your profile for insights
Responsibilities:Develop and manage the hospital's annual budget in collaboration with departmental heads.
Monitor financial performance against budget and prepare variance reports.
Conduct financial analysis, including profitability analysis and cost-benefit evaluations for new initiatives.
Prepare financial forecasts to guide long-term planning.
Oversee the preparation of monthly, quarterly, and annual financial reports for internal and external stakeholders.
Ensure compliance with accounting principles and healthcare financial regulations.
Present financial results and key insights to the management and the board.
Revenue Cycle Management:Monitor and improve the hospital's revenue cycle, including billing, coding, collections, and patient account management.
Ensure timely billing, minimize delays in collections, and work to reduce bad debts.
Cost Control and Efficiency:Develop strategies for cost-saving measures and increase efficiency in hospital operations.
Collaborate with department heads to ensure financial discipline across the hospital.
Compliance and Audit:Ensure compliance with regulatory bodies and financial regulations applicable to healthcare institutions.
Coordinate and manage internal and external audits.
Capital Expenditure:Manage and monitor capital expenditures, ensuring alignment with the hospital's strategic goals.
Review and recommend approval of capital projects and equipment purchases.
Lead, mentor, and manage a team of financial professionals including accountants, analysts, and billing specialists.
Foster a culture of continuous improvement and accountability within the finance team.
Requirements:Bachelor's degree in finance, accounting or a related field.
At least 5 years of financial management experience, preferably in healthcare, hospital settings.
Strong knowledge of financial regulations, accounting standards, and healthcare finance.
Proficiency in financial management software and healthcare billing systems.
Excellent leadership, communication, and interpersonal skills.
Ability to communicate financial concepts to non-financial stakeholders.
Independent with strong analytical and problem solving/troubleshooting skills.#J-18808-Ljbffr