Massachusetts General Hospital
Senior Financial Analyst
Massachusetts General Hospital, Boston, Massachusetts, us, 02298
DescriptionGENERAL SUMMARY/ OVERVIEW STATEMENT:Reporting to Finance Director of Radiation Oncology and the Vice President of Radiation Oncology, the Senior Financial Analyst will support the business and financial functions of the Department of Radiation Oncology, comprised of over 16 cost centers and a net service revenue of approx. $175M million across the General Hospital and Physician Organization.The Senior Financial Analyst will perform a variety of analytical and technical functions, many of which are highly visible. The incumbent must be able to meet the challenges required in day-to-day duties as well as be a self-starter and seek out additional initiatives over time. Knowledge of Excel and excellent verbal/written communication skills are required for this position.PRINCIPAL DUTIES AND RESPONSIBILITIES:Leads and manages the development of the annual hospital and PO operating and capital budgets, ensuring that budgeted volume, revenue, and expenses are reasonable.
Documents assumptions made in developing those budgets.Must be able to articulate rationale and advocate for changes to budget, both in writing and verbally.
* Analyzes General Hospital and Physician Organization operating and capital budget performance throughout the yearo Ensures FTEs and expenses remain on or under budget.* Creates/updates monthly reports which include but are not limited to:o Financial performance reportingo Budget and revenue forecastingo RVU modelingo Billing cycle reconciliation.o Reviews current performance results (charges, income, accounts receivable, collection rates) and compare these to budget projections and prior year performance.* Uses Vision, Mosaiq, PeopleSoft, IPORT and other information systems, as necessary, to monitor volume as it relates to financial performance.* Seeks, identifies, and implements opportunities for efficiencies and expense reduction. Utilizes strong communication and strong change management skills required to deliver tough messages and effect changes in practice.* Works closely with the department's Director of Finance and Professional Billing Office Liaison and monitors professional and technical revenue. Initiates and participates in revenue enhancement efforts, demonstrating a full and detailed understanding of the department's revenue cycle for both professional and technical revenue.* Coordinates with all levels of the organization to manage capital projects, including funding, project spending, timely reconciliation and closeout.o Ensures capital activity is compliant with accounting principles, policies and regulations* Prepares return-on-investment analyses for proposed capital projects, special projects and strategic initiatives.* Researches and develops budgets and financial analyses for new business opportunities, working closely with the Finance Director and Vice President, Radiation Oncology.* Directly manages Chief-level sundry funds (~15 funds). Provides routine reporting on status of sundry funds (including 2x per year status reports to department leadership). Monitors funds on an ongoing basis to ensure that funds do not go into deficit.* Serves as main departmental contact regarding finances to external departments (MGPO and MGH Budget Offices, HMS Finance Office, etc).* Oversees and approves Peoplesoft EBuy transactions, including Purchasing transactions and Employee Expense Reimbursement requests. Verifies that purchase/reimbursement is within budget and policy limitations and that expense is allocated to the correct cost center. Issues purchase orders and manages supply procurement as necessary.* Is familiar with department's affiliate and external relationships and contracts. Works Vice President, Sr. Director of Radiation Therapy, and the Office of General Counsel to generate and/or update contracts as necessary. Directly manages all relevant contracts in MGPO Contracts Database and all affiliate invoicing processes, ensuring accurate invoices and tracking for timely payments.* Oversees all Harvard Medical School funds (special teaching allocations and chair funds) and the appropriation and management of same on a routine basis.* Assists with other management, budget, and ad hoc assignments as required* Assists in the management of the Radiation Oncology faculty compensation plan* Works in collaboration with the Cancer Center finance team to support other projects/infinitives and to provide back-up as neededQualificationsSKILLS & COMPETENCIES REQUIRED:* Excellent financial and operational analysis skills* Solid understanding of healthcare billing, finance and accounting principles* Familiarity with Epic system and reports* Strong analytical and presentation skills* Excellent oral and written communications skills* Ability to present information and respond to questions from multiple levels of staff, including but not limited to Chiefs, VPs, Executive and Administrative Directors, Managers, providers* Ability to define problems, collect data, establish facts and draw valid conclusions.* Ability to read, analyze and interpret financial and operational date and/or governmental/payer regulations* Expert knowledge of accounting principles and practices as applicable to health care and non-profit organizations* Excellent interpersonal skills, including strong customer service orientation and problem resolution; ability to work effectively as a member of team* Must be extremely well organized and have solid time management skills in order to handle multiple tasks simultaneously under sometimes tight deadlines* Self-motivated, inquisitive, resourceful, organized and able to take initiative; take-charge ability, including knowledge of resources to answer questions, research data and information and display independent judgment. Interested in improving processes over time* Comfortable operating in a complex, matrix organization with minimal supervision and oversight* Exceptional judgment and discretion on sensitive fiscal and confidential issues.* Proficiency in Microsoft Office suite (Excel, Word, Access, and Outlook) required* Basic SQL for extracting data from data warehouseEEO Statement
Massachusetts General Hospital is an Affirmative Action Employer. By embracing diverse skills, perspectives and ideas, we choose to lead. All qualified applicants will receive consideration for employment without regard to race, color, religious creed, national origin, sex, age, gender identity, disability, sexual orientation, military service, genetic information, and/or other status protected under law. We will ensure that all individuals with a disability are provided a reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.Primary Location: MA-Boston-MGH Main Campus Work Locations: MGH Main Campus 55 Fruit Street Boston 02114 Job: Finance/Accounting Organization: Massachusetts General Hospital(MGH) Schedule: Full-time Standard Hours: 40 Shift: Day Job Employee Status: Regular Recruiting Department: MGH Radiation Oncology Job Posting: Oct 23, 2024
Documents assumptions made in developing those budgets.Must be able to articulate rationale and advocate for changes to budget, both in writing and verbally.
* Analyzes General Hospital and Physician Organization operating and capital budget performance throughout the yearo Ensures FTEs and expenses remain on or under budget.* Creates/updates monthly reports which include but are not limited to:o Financial performance reportingo Budget and revenue forecastingo RVU modelingo Billing cycle reconciliation.o Reviews current performance results (charges, income, accounts receivable, collection rates) and compare these to budget projections and prior year performance.* Uses Vision, Mosaiq, PeopleSoft, IPORT and other information systems, as necessary, to monitor volume as it relates to financial performance.* Seeks, identifies, and implements opportunities for efficiencies and expense reduction. Utilizes strong communication and strong change management skills required to deliver tough messages and effect changes in practice.* Works closely with the department's Director of Finance and Professional Billing Office Liaison and monitors professional and technical revenue. Initiates and participates in revenue enhancement efforts, demonstrating a full and detailed understanding of the department's revenue cycle for both professional and technical revenue.* Coordinates with all levels of the organization to manage capital projects, including funding, project spending, timely reconciliation and closeout.o Ensures capital activity is compliant with accounting principles, policies and regulations* Prepares return-on-investment analyses for proposed capital projects, special projects and strategic initiatives.* Researches and develops budgets and financial analyses for new business opportunities, working closely with the Finance Director and Vice President, Radiation Oncology.* Directly manages Chief-level sundry funds (~15 funds). Provides routine reporting on status of sundry funds (including 2x per year status reports to department leadership). Monitors funds on an ongoing basis to ensure that funds do not go into deficit.* Serves as main departmental contact regarding finances to external departments (MGPO and MGH Budget Offices, HMS Finance Office, etc).* Oversees and approves Peoplesoft EBuy transactions, including Purchasing transactions and Employee Expense Reimbursement requests. Verifies that purchase/reimbursement is within budget and policy limitations and that expense is allocated to the correct cost center. Issues purchase orders and manages supply procurement as necessary.* Is familiar with department's affiliate and external relationships and contracts. Works Vice President, Sr. Director of Radiation Therapy, and the Office of General Counsel to generate and/or update contracts as necessary. Directly manages all relevant contracts in MGPO Contracts Database and all affiliate invoicing processes, ensuring accurate invoices and tracking for timely payments.* Oversees all Harvard Medical School funds (special teaching allocations and chair funds) and the appropriation and management of same on a routine basis.* Assists with other management, budget, and ad hoc assignments as required* Assists in the management of the Radiation Oncology faculty compensation plan* Works in collaboration with the Cancer Center finance team to support other projects/infinitives and to provide back-up as neededQualificationsSKILLS & COMPETENCIES REQUIRED:* Excellent financial and operational analysis skills* Solid understanding of healthcare billing, finance and accounting principles* Familiarity with Epic system and reports* Strong analytical and presentation skills* Excellent oral and written communications skills* Ability to present information and respond to questions from multiple levels of staff, including but not limited to Chiefs, VPs, Executive and Administrative Directors, Managers, providers* Ability to define problems, collect data, establish facts and draw valid conclusions.* Ability to read, analyze and interpret financial and operational date and/or governmental/payer regulations* Expert knowledge of accounting principles and practices as applicable to health care and non-profit organizations* Excellent interpersonal skills, including strong customer service orientation and problem resolution; ability to work effectively as a member of team* Must be extremely well organized and have solid time management skills in order to handle multiple tasks simultaneously under sometimes tight deadlines* Self-motivated, inquisitive, resourceful, organized and able to take initiative; take-charge ability, including knowledge of resources to answer questions, research data and information and display independent judgment. Interested in improving processes over time* Comfortable operating in a complex, matrix organization with minimal supervision and oversight* Exceptional judgment and discretion on sensitive fiscal and confidential issues.* Proficiency in Microsoft Office suite (Excel, Word, Access, and Outlook) required* Basic SQL for extracting data from data warehouseEEO Statement
Massachusetts General Hospital is an Affirmative Action Employer. By embracing diverse skills, perspectives and ideas, we choose to lead. All qualified applicants will receive consideration for employment without regard to race, color, religious creed, national origin, sex, age, gender identity, disability, sexual orientation, military service, genetic information, and/or other status protected under law. We will ensure that all individuals with a disability are provided a reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.Primary Location: MA-Boston-MGH Main Campus Work Locations: MGH Main Campus 55 Fruit Street Boston 02114 Job: Finance/Accounting Organization: Massachusetts General Hospital(MGH) Schedule: Full-time Standard Hours: 40 Shift: Day Job Employee Status: Regular Recruiting Department: MGH Radiation Oncology Job Posting: Oct 23, 2024