Vice President Financial Operations Clinical Services

Job ID:
R171693

Shift:
1st

Full/Part Time:
Full_time

Pay Range:
$196.60 – $314.55

Location:

Remote

Benefits Eligible:
Yes

Hours Per Week:
40

Our Commitment to You:

Advocate Health offers a comprehensive suite of Total Rewards: benefits and well-being programs, competitive compensation, generous retirement offerings, programs that invest in your career development and so much more – so you can live fully at and away from work, including:

Compensation

  • Base compensation within the position’s pay range based on factors such as qualifications, skills, relevant experience, and/or training
  • Premium pay such as shift, on call, and more based on a teammate’s job
  • Incentive pay for select positions
  • Opportunity for annual increases based on performance

Benefits and more

  • Paid Time Off programs
  • Health and welfare benefits such as medical, dental, vision, life, and Short- and Long-Term Disability
  • Flexible Spending Accounts for eligible health care and dependent care expenses
  • Family benefits such as adoption assistance and paid parental leave
  • Defined contribution retirement plans with employer match and other financial wellness programs
  • Educational Assistance Program

Schedule Details/Additional Information:

  • N/A

Major Responsibilities:

  • Oversee the financial performance of operations for assigned division. Direct completion and reviews financial performance. Supervises, investigates, analyzes, and presents recommendations with respect to costs (labor and non-labor) and revenue initiatives, including processes, re-engineering, and detailed performance/financial/program reviews, to ensure stated financial goals are attained. 
  • Oversee Clinical Services and Medical Group financial performance and is responsible for the timely and accurate preparation and distribution of monthly financial statements and monthly financial analysis summarizing the results for the senior leadership. 
  • Presents financial information to boards, executive and management teams, and regional monthly operating reviews. Effective communication skills with the ability to take complex financial information and make it clear and understandable to non-financial people. Explains the “why” behind financial improvement plans and initiatives. 
  • Works collaboratively with operations management and corporate revenue cycle departments to capitalize on revenue cycle process improvement opportunities to optimize revenue and better understand/enhance payer and reimbursement trends. 
  • Integrates financial and operational objectives and initiatives into annual budget and the long-range financial plan. Effectively plans and manages the annual budget process and supports the forecasting and long-range planning processes within established guidelines. 
  • Analyzes variances to budgets/forecasts and communicates to Enterprise, Medical Group, service line and site operations management. 
  • Serves as a resource/liaison for CFO leadership, corporate finance staff (general accounting and reimbursement, etc.) departments and functions that directly affect the financial performance, and revenue cycle (including managed care), health information management, system logistics, and information technology for the division by providing guidance on policies and procedures, provides direction of financial statement preparation process, consultation on specific finance-related issues or day-to-day operations issues, notification regarding material issues impacting net reimbursement, etc. 
  • Responsible for continuous monitoring of workload and methodologies used to achieve results, making recommendations to improve efficiency and/or achieve cost savings whenever possible. 
  • Oversee and provide guidance or assistance to operational leadership in the proper maintenance and execution of primary responsible activities to include Revenue Cycle Management, Treasury and Cash Management, Capital Assets, Financial Reporting and Planning; and to a lesser extent, secondary responsibility areas such as HIM, Materials, Information Technology, Facilities, etc. 
  • Oversee the accurate and timely financial reporting for operational areas of support, to include performing routine analytical reviews of financial data with the senior operational leadership and providing guidance towards financial improvement when appropriate. 
  • Provide strategic planning guidance, and oversee the preparation of affiliated organization financial forecasts, long term strategic financial plans, annual operating budgets, and other necessary forward looking financial projections and decision-making analytics. 
  • Serve as an effective facilitator in the flow and communication of financial information between operational leadership and Enterprise senior leadership. Ensure that leadership is kept informed of critical affiliate financial information in support of strategic/operational decision-making. 
  • Assist in the development of strategic goals and activities working collaboratively with operational leadership to develop and implement unified enterprise initiatives, and towards the accomplishment of individual affiliate organization goals and objectives.  
  • Leads capital planning and prioritization for the Clinical Enterprise function including pro forma and business plan development. 
  • Performs monthly operating reviews with Enterprise, Division, Area and site operations leadership, and corporate management in accordance with Enterprise and/or site guidelines and offer training/education to address financial and accounting issues. Provides financial direction to operating departments to assist them in achieving goals while remaining within established budget thresholds/parameters. 
  • Responsible for physician compensation oversight and administration across the enterprise. 
  • Designs and directs the work of the assigned area(s) of responsibility. Selects, coaches, and develops teams, setting objectives that align with organizational strategy to inspire and motivate the teams. Manages organizational talent through performance management, succession planning, and development. Designs and directs processes by which team and individual performance are recognized, feedback is consistently delivered, and performance is systematically improved.  
  • Develops and/or recommends operating and capital budgets and controls expenditures within approved budget objectives.  
  • Responsible for understanding and adhering to the organization's Code of Ethical Conduct and for ensuring that people actions, and the actions of employees supervised, comply with the policies, regulations, and laws applicable to the organization's business. 

Licensure, Registration, and/or Certification Required:

  • N/A

Education Required:

  • Bachelor’s degree in accounting, finance, or related field

Experience Required:

  • Typically requires a minimum of 10 years of experience in developing, implementing, and evaluating strategic financial plans, overseeing budgeting and reporting processes and systems, and overseeing financial modeling and analysis within a large integrated healthcare system. Includes 5 years of management experience in financial management 

Knowledge, Skills & Abilities Required:

  • Experience in consulting with senior level leadership providing guidance on financial strategies and decisions that impact the performance of the organization.  
  • Demonstrated managerial and leadership ability. Excellent communication, negotiating, and interpersonal skills. Excellent computer skills, computer applications, financial spreadsheet-cost accounting systems and general ledger systems. 
  • Comprehensive knowledge of best financial practices within and outside the health care industry. Strong understanding of health care dynamics and economics related to the profitability of various services and the margin contribution available with marginal investment.  
  • Advanced knowledge and skills in developing and evaluating complex financial plans and strategies which support creating effective, successful business plans.  
  • Skills in prioritizing needs based on business requirements, effectively manage resources, and develop effective processes that impact the organization.  
  • Skills in presenting financial strategies, results, and analyses. Demonstrated ability to explain complex financial issues to non-financial staff and leadership.  
  • Demonstrated understanding of the cause and effect of operating activities on financial performance and its related budget implications. 

Physical Requirements and Working Conditions:

  • This position requires travel, therefore, will be exposed to weather and road conditions. Operates all equipment necessary to perform the job. Exposed to a normal office environment. This job description indicates the general nature and level of work expected of the incumbent.  

This job description indicates the general nature and level of work expected of the incumbent. It is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities required of the incumbent. Incumbent may be required to perform other related duties.

Aurora Health Care is the largest health system in Wisconsin and a national leader in clinical innovation, health outcomes, consumer experience and value-based care. The state’s largest private employer, the system serves patients across 17 hospitals, more than 70 pharmacies and more than 150 sites of care. Aurora Health Care, in addition to Advocate Health Care in Illinois and Atrium Health in the Carolinas, Georgia and Alabama, is now part of Advocate Health, the third-largest nonprofit, integrated health system in the United States. Committed to providing equitable care for all, Advocate Health provides nearly $5 billion in annual community benefits.