Healthcare Financial Advisor

2 weeks ago

Austin, Texas, United States augmentjobs Full time
Job Overview

Position Title: Healthcare Finance Consultant

Summary: In the role of Healthcare Finance Consultant, you will deliver specialized financial advice to healthcare entities aimed at enhancing their fiscal performance, optimizing resource distribution, and ensuring adherence to industry standards. Your responsibilities will include scrutinizing financial data, formulating strategic recommendations, and executing solutions that promote financial stability and operational effectiveness.

Key Responsibilities:

  • Financial Assessment: Perform comprehensive financial assessments, encompassing budgeting, forecasting, and financial reporting. Detect trends, discrepancies, and areas for enhancement in financial outcomes.
  • Expense Management: Analyze cost frameworks and pinpoint opportunities for expense reduction and efficiency enhancements. Formulate strategies to control costs and maximize resource utilization.
  • Revenue Cycle Optimization: Evaluate and refine revenue cycle operations, including billing, collections, and claims processing. Implement strategies to boost revenue capture and minimize accounts receivable days.
  • Strategic Financial Planning: Aid clients in crafting and executing financial strategies that align with their organizational objectives. Provide assistance in financial planning and analysis, including capital budgeting and investment choices.
  • Compliance with Regulations: Guarantee adherence to financial regulations and standards pertinent to healthcare organizations. Support audits, financial reporting, and regulatory submissions.
  • Performance Measurement: Create and oversee financial performance metrics and key performance indicators (KPIs). Offer insights and recommendations based on financial data to facilitate strategic decision-making.
  • Integration of Technology: Advocate for and assist in the integration of financial management technologies, such as financial management systems (FMS) and electronic health record (EHR) systems with financial components. Ensure effective utilization of technology to streamline financial operations.
  • Operational Enhancement: Collaborate with healthcare management to boost operational efficiency and financial effectiveness. Implement process enhancements and best practices to improve financial performance and operational results.
  • Training and Development: Provide training and guidance to finance teams on financial best practices, emerging technologies, and regulatory standards. Cultivate a culture of financial literacy and ongoing improvement within the organization.
  • Communication with Stakeholders: Convey financial insights, recommendations, and reports to senior management and other stakeholders. Facilitate discussions on financial strategies and performance with key decision-makers.

Qualifications:

  • Educational Qualifications: Bachelor's degree in Finance, Accounting, Healthcare Administration, or a related discipline; advanced degree (e.g., MBA, MHA) or relevant certifications (e.g., CPA, CFA) preferred.
  • Professional Experience: 4-6 years of experience in healthcare finance consulting, financial management, or a related field.
  • Skill Set: Strong grasp of healthcare finance, cost management, revenue cycle management, and regulatory compliance. Proficiency in financial analysis, budgeting, and forecasting.
  • Communication Skills: Exceptional verbal and written communication abilities, with the capacity to present complex financial information and recommendations clearly to clients and stakeholders.
  • Analytical Skills: Advanced analytical capabilities with the ability to evaluate financial data, identify trends, and provide actionable insights and strategies for enhancement.
  • Project Management Skills: Proven track record in managing finance-related projects, including coordination with cross-functional teams and delivering results within set timelines.
  • Personal Attributes: Detail-oriented, strategic thinker, and capable of working independently as well as collaboratively in a dynamic and fast-paced environment.

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