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Healthcare Finance Consultant

3 months ago

Austin, United States augmentjobs Full time
Job DescriptionJob Description

Job Title: Healthcare Finance Consultant

Overview: As a Healthcare Finance Consultant, you will provide expert financial guidance to healthcare organizations to improve their financial performance, optimize resource allocation, and ensure compliance with industry regulations. You will analyze financial data, develop strategic recommendations, and implement solutions that drive financial health and operational efficiency.

Responsibilities:

  • Financial Analysis: Conduct in-depth financial analysis, including budgeting, forecasting, and financial reporting. Identify trends, variances, and opportunities for improvement in financial performance.
  • Cost Management: Evaluate cost structures and identify opportunities for cost reduction and efficiency improvements. Develop strategies to manage expenses and optimize resource utilization.
  • Revenue Cycle Management: Analyze and improve revenue cycle processes, including billing, collections, and claims management. Implement strategies to enhance revenue capture and reduce days in accounts receivable.
  • Financial Planning: Assist clients in developing and implementing financial plans and strategies that align with their organizational goals. Provide support for financial planning and analysis, including capital budgeting and investment decisions.
  • Regulatory Compliance: Ensure compliance with financial regulations and standards relevant to healthcare organizations (e.g., Medicare, Medicaid, ACA). Assist with audits, financial reporting, and regulatory submissions.
  • Performance Metrics: Develop and monitor financial performance metrics and key performance indicators (KPIs). Provide insights and recommendations based on financial data to support strategic decision-making.
  • Technology Integration: Recommend and support the integration of financial management technologies, such as financial management systems (FMS) and electronic health record (EHR) systems with financial modules. Ensure effective use of technology to streamline financial processes.
  • Operational Improvement: Collaborate with healthcare management to improve operational efficiency and financial effectiveness. Implement process improvements and best practices to enhance financial performance and operational outcomes.
  • Training & Development: Provide training and support to finance teams on financial best practices, new technologies, and regulatory requirements. Foster a culture of financial literacy and continuous improvement within the organization.
  • Stakeholder Communication: Communicate financial insights, recommendations, and reports to senior management and other stakeholders. Facilitate discussions on financial strategies and performance with key decision-makers.

Qualifications:

  • Educational Background: Bachelor's degree in Finance, Accounting, Healthcare Administration, or a related field; advanced degree (e.g., MBA, MHA) or relevant certifications (e.g., CPA, CFA) preferred.
  • Experience: 4-6 years of experience in healthcare finance consulting, financial management, or a related role.
  • Skills: Strong understanding of healthcare finance, cost management, revenue cycle management, and regulatory compliance. Proficiency in financial analysis, budgeting, and forecasting.
  • Communication: Excellent verbal and written communication skills, with the ability to present complex financial information and recommendations clearly to clients and stakeholders.
  • Analytical Abilities: Advanced analytical skills with the ability to assess financial data, identify trends, and provide actionable insights and strategies for improvement.
  • Project Management: Proven ability to manage finance-related projects, including coordinating with cross-functional teams and delivering results within established timelines.
  • Attributes: Detail-oriented, strategic thinker, and capable of working independently as well as collaboratively in a dynamic and fast-paced environment.