Intern, Finance

Renowned as the academic flagship of the University of Maryland Medical System, our Magnet®-designated facility is a nationally recognized, academic medical center with opportunities across the continuum of care.  Come join UMMC and discover the atmosphere where talents and ideas come together to enhance patient care and advance the science of nursing.  Located in downtown Baltimore near the Inner Harbor and Camden Yards, you won’t find a more vibrant place to work 

General Summary 

• A college intern working in the field of healthcare finance helps in the development and implementation of UMMS policies and practices in a designated area such as for reimbursement, regulatory policy, billing compliance, financial management, budgeting, accounting, etc. By getting hands-on experience by working under a finance leader, he/she is able to participate in healthcare financial operations and learn to follow the impact of and respond to financial trends.
• The intern will have opportunities to practically apply their theoretical knowledge of financial operations to their day to day assigned work at UMMS.  
• Under direct supervision, the college intern works directly with various Finance Shared Services staff to develop, analyze, report and interpret financial and statistical information to assist management in the formation, implementation and execution of the organization’s business plans.  
• The finance internship is a mutually beneficial arrangement whereby the intern learns to apply classroom learning to a live business environment while UMMS leadership has an opportunity to observe and develop the intern’s skills and abilities. 
• The internship should be viewed by the intern as an opportunity that could result in full-time employment in the future, and accordingly the intern is expected to exhibit professionalism, be inquisitive, and develop effective working relationships with UMMS staff and leadership. 

Principal Responsibilities and Tasks 
 
Corporate Finance is responsible for the management and oversight of UMMS financial services which includes the following divisions: 

Financial Reporting 

• Internal financial reporting to Board and Management, and external financial reporting to Bond Rating Agencies, Bond Holders and Debt Markets 
• Compliance with UMMS financial policies and procedures  
• Tax compliance and strategy 
• Reimbursement & Revenue Advisory Services 
•  Rate Setting  
• Establish annual HSCRC approved Global Budget Revenue (“GBR”) and corresponding unit rates. Ensure UMMS is receiving maximum allowed GBRs for each hospital.  
• Ensure approved hospital rates are set to charge to full approved annual GBR. 
• Negotiate hospital specific GBR improvement opportunities with HSCRC. 
• Provide annual hospital revenue budgets using estimated approved GBR and unit rates.
• Meet all federal and state regulatory reporting requirements.
• Monitor & report hospital specific HSCRC quality measure performance.
• Ensure hospital case-mix (i.e. measure of patient acuity) is accurate through monitoring case-mix data and supporting clinical documentation improvement efforts.  

HSCRC Strategy 

• Monitor HSCRC statewide policy goals and help establish UMMS to be a strong voice and influencer of HSCRC philosophy and considerations. 

• Provide guidance to UMMS leadership to ensure UMMS is positioned for success under HSCRC payment models. 

• Influence and negotiate HSCRC policies and methodologies for both existing and emerging rate setting and population health models. 

• Provide proforma analytics for HSCRC proposed policies and methodologies to understand impact to UMMS and ensure methodologies are sound. 

• Monitor and investigate hospital performance under all HSCRC policies and methodologies and, if needed, develop alternatives to propose to HSCRC. 

Revenue Integrity  

• Promote proactive billing compliance with all federal, state and HSCRC regulations 

• Improve operational efficiencies and reduce compliance risk through charge capture monitoring, interventions, education and clinical department collaboration 

• Oversee management of hospital Charge Description Master (“CDM”) 

• Conduct proactive charge capture assessments, issue identification, and remediation 

• Support clinical and financial system build, maintenance, testing, and support 

Financial & Capital Planning 

• Strategic financial and capital planning and analysis for all components of the System.   

• Accountable for developing and maintaining the Five Year Financial and Capital Plan 

• Management, oversight and reporting of capital project budgets and funds 

• Management of State mandated reporting for Capital 

UMMS Corporate Decision Support 

• Oversight and consolidation of UMMS operating budgets 

• Management of UMMS budgeting and reporting system 

• Expense analysis and reporting 

• UMMS program development analysis 

• Corporate Treasury 

• Development and implementation of Treasury Strategy  

• Daily liquidity and Treasury Operations Management 

• Investment portfolio management  

• Debt portfolio management and reporting 

• Investor/ Bond holder relations management 

• Compliance with debt covenants and disclosures 

• UMMS Payer Relations & Contracting 

• Maintain payer relations for all UMMS entities 

• UMMS payer contracting function including value-based care arrangements 

• Payer contract management and compliance 

• Develop and administer system-wide Payer strategy 

The following statements are intended to describe the general nature and level of work being performed by people working in an intern role depending on the are being supported.  These are not to be construed as an exhaustive list of all job duties to be performed. 

• Assists in the preparation of various reports for reporting organizational activity for use by Finance Shared Services and other UMMS departments, including various statistical, compliance and regulatory reports for outside agencies such as Center for Medicare and Medicaid Services (CMS), Health Services Cost Review Commission (HSCRC), and the Maryland Hospital Association (MHA) in accordance with the requesting agencies standards and requirements. 
• Assists with monitoring and investigating various financial transactions. 
• Assists with the preparation of various surveys and special requests by senior management and/or outside regulatory agencies. 
• Assists departments to provide analytical and technical support regarding volume and revenue analysis, budgeting and expense analysis and regulatory policies and procedures. 
• Develops work plans and coordinates the successful completion of routine, ad hoc, analyses and projects under supervision. 
• Assists with organizing and maintaining major reports and schedules 
• Participates in meetings as requested; includes assisting with meeting scheduling, preparation and follow-up, and distribution of meeting agendas and minutes. 

Education and Experience 

• Enrolled in a Baccalaureate or Master’s degree program with a minimum GPA of 3.0 of a possible 4.0.   
• Two years college is preferred.  Healthcare administration, Business, Accounting, Finance or related major is preferred. 

Knowledge, Skills and Abilities   

• Ability to judge the level of confidentiality of information / activities involved in and exhibit integrity in use of dissemination of such information. 
• Proficient in Microsoft Excel, Microsoft Word and Outlook. 
• Ability to work in a team environment with changing demands and timelines  
• Highly motivated with a desire to learn  
• Effective verbal and written communication skills are necessary in dealing with a variety of healthcare and finance professionals. 
• Outstanding organization and problem-solving skills. 
• Ability to assess and evaluate financial data via use of computer analysis. 
• Ability to work effectively in a stressful work environment 

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