The position is responsible for the development, facilitation, and management of the annual budget and forecasting process for the Hoag Clinic, including the Hoag Medical Group, aligned Specialty Practices, Hoag Physician Partners IPA, the Hoag MSO, and all support functions. Responsibilities include maintaining the rolling forecast model, analyzing current and past trends in key performance areas, investigating root causes of unexpected variances, preparation, and analysis of budget-vs.-actual and forecast-vs.-actual variance reports, and the development of ad-hoc reports to support the business. The position will also be responsible for providing advanced analytics on ad-hoc projects such as contract margin, operating expenses, progressive reimbursement models (value-based contracts), and outside specialty medical cost and use trends.
Primary Responsibilities & Job Specific Essential Functions:
Manage all FP&A functions including but not limited to annual budgeting, forecasting, analysis of actual-to-budget and actual-to-forecast. Annual budgeting will include but not be limited to Income Statement, Balance Sheet, Cash Flow, and Capital Projects
Develop ad-hoc reports to support the business segments and departments as needed.
Develop, implement and maintain internal controls and department policies and procedures to ensure compliance with Health Plans, governmental agencies
Produce and enhance weekly, monthly and annual KPI reporting for the Hoag Clinic
Analyze current and past trends in key performance indicators including all areas of revenue, medical expenses, and operating costs
Project and evaluate EBIDA margins on existing and new business opportunities.
Identify and track significant contractual terms and capture in forecasts, including cost-saving initiatives (medical and operating expense initiatives, vendor contract efforts, or medical utilization interventions); and revenue enhancement initiatives (e.g. Risk-Adjustment revenue, P4P/STARs, rate negotiations).
Consult with Clinical and Operational leaders to identify performance improvement opportunities and initiate programs to build efficiencies / optimize results
Manage preparation and presentation of complete and accurate monthly, year-end financial results package comparing budget to actual.
Mentor staff, create and monitor annual performance goals, and provide growth opportunities through guidance, education and training, monitor job performance and offer feedback and assistance when needed
Builds cross-functional relationships within the department and across other departments including but not limited to Accounting, IT, Payroll, Physician Reimbursement, and Purchasing with regard to general ledger activity and department needs.
Performs other duties as assigned.
Education, Training, and Experience:
Bachelors Degree in Accounting or Finance.
At least 2 years of finance experience in a health plan, risk-bearing medical group or managed care MSO/IPA organization
Skills or Other Qualifications:
License and Certifications:
Hoag Memorial Hospital Presbyterian