Healthcare Financial Consultant

1 week ago


Norfolk, Virginia, United States Eastern Virginia Medical School Full time

Position Overview:

The Financial Analyst plays a crucial role within the Department of Medicine, collaborating closely with both Department/Division Administration and clinical operations teams to ensure optimal financial performance while adhering to budgetary constraints. This role acts as an internal financial advisor, coordinating with various internal and external stakeholders to deliver essential analytical and strategic support for managerial decision-making.

Key Responsibilities:

  • Facilitate effective financial reporting tailored to the needs of various stakeholders, including senior leadership and external organizations.
  • Support the Department in financial management by developing budgets, monitoring financial data, and analyzing variances between actual results and projections.
  • Assist in the creation and upkeep of operational and capital budgets across all departmental sections, including Academic, Clinical, and Research.
  • Oversee the financial reporting processes for the Department/Divisions, ensuring accuracy and compliance.
  • Prepare and maintain productivity metrics, including wRVU calculations, to provide valuable insights to clinicians.
  • Maintain open communication with the Chief Administrator and Division managers to address financial issues and ensure alignment with departmental goals.
  • Develop strategies to effectively convey financial and clinical productivity information to faculty and staff, aligning with the Department's strategic objectives.
  • Regularly meet with leadership to stay informed on departmental financial matters.
  • Monitor financial statements for accuracy and adherence to budgetary limits, proactively engaging with department administration to discuss resource needs.
  • Collaborate with the Department Administrator II to ensure compliance with institutional policies and procedures.
  • Identify and resolve financial discrepancies and engage in cost analysis for each reporting entity.
  • Analyze clinical data to provide insights on billing, productivity, and financial performance for physician providers.
  • Implement accounting procedures designed to track revenue and expenses effectively.
  • Assist in the development of Financial Business Plans and prepare reports for various committees as needed.
  • Establish standard operating procedures to enhance financial management efficiency.
  • Support the Department in managing financial activities related to clinical contracts, ensuring timely communication of relevant information.
  • Coordinate materials management and procurement functions in line with institutional processes.
  • Develop budgets for contracts and grants, ensuring financial viability.
  • Review and approve changes in time and effort based on budgetary considerations.
  • Engage in additional business-related activities as requested by leadership.

Qualifications:

  • Bachelor's Degree in Finance or Accounting is required.
  • A Master's Degree and/or CPA credential is preferred.

Preferred Experience:

  • A minimum of three years of relevant experience in budget and finance.
  • Proficient in Excel and other financial analysis tools.
  • Experience in healthcare finance is advantageous.


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