BWPO Lead Senior Finance Analyst - Radiation Oncology Department

Brigham and Women’s Hospital, located in the heart of Boston, and is internationally known for cutting-edge technology and world-class innovation, focusing on patient centered care. Brigham and Women's Hospital is consistently rated as one of the top ten hospitals in America by US News and World Report. 

 

General Summary / Overview Statement

Reporting directly to the Director of Administrative Support and Finance of the Department of Radiation Oncology of the BWPO, the Lead Senior Finance Analyst has comprehensive financial responsibilities for two hospital departments (BWH & DFCI), the physician group (BWPO), and the Milford network development site and related business associate (Alliance Oncology, LLC.) The Lead Senior Finance Analyst is responsible for managing the fiscal operations of the department to ensure the finance functions are accurately maintained and reported; billing processes follow appropriate policies and procedures and are in compliance with regulatory requirements. He/She will manage the flow of financial information between the BWPO budget and finance, as well as BWH, PHS, DFCI and Milford network development financial stakeholders.  The position requires strict attention to detail and adherence to GAAP, contractual, and tight deadlines from various entities. The departments have combined gross revenue of $160M (Hospital and BWPO budgets). The combined departments include 29 physicians and 150 support staff.  The Department of Radiation Oncology consists of: Departments of Radiation Oncology at Brigham and Women’s Hospital, Dana Farber Cancer Institute, and the Brigham and Women’s Physicians Organization, as well as a newly established Milford network site. Additional future growth plans to open 2 additional network sites within the next two years.

 

ESSENTIAL FUNCTIONS:

 FINANCIAL MANAGEMENT

 

1.  Overall responsibility for the month end close process and preparation of high quality and timely monthly, quarterly and year-end financial reporting package for BWPO, BWH, DFCI and Milford network development site, including, but not limited to, interpretation of revenue, operating expenses, and capital budget variance drivers; cash flow plans for the department and quarterly financial settlements for the Alliance Oncology.

 

2.  Perform accounting activities in conjunction with BWPO, BWH, DFCI, Alliance Oncology, LLC Finance departments to ensure accurate and timely monthly application of revenue and expenses, including the participation in the monthly post-close meetings.

 

3.  Perform monthly analysis of the profit and loss activity and reconciliation of balance sheet accounts, including timely resolution of monthly variances, along with narrative that will provide management with an adequate awareness of trends, significant departmental and divisional issues that require attention and monitoring.

 

4.  Responsible for the monthly variance reporting and re-forecasting of the Department and Business Associate, including comparative analysis for the department, division and physician level over a multi-year plan.

 

5.  Work with the Director of Administrative Support and Finance to develop the physician and site level budgets based on overall plans of the organization, including revenue, operating expenses and capital budget.  Develop the expense allocation methodology. Translate information from budget, accounting, and analytic processes into effective communication tools for multiple audiences, including senior leadership and physicians. Provide recommendations for cost effective operations and improvements.

 

6.  Under the supervision of the Director of Administrative Support and Finance, independently performs a wide variety of accounting and other financial management activities and analysis.  This includes, but not limited to, creating monthly payroll and FTE monthly variance reporting package and other financial and statistical reporting activity; including interpretation of the data, performing research and resolution of reconciling items.

 

7.  Organize and analyze qualitative and quantitative operational, clinical, financial and administrative data for the Department.

 

8.  Manage the cash and investments allocation for the BWPO and R&E Foundation.

 

9.  Responsible for the accounting and monitoring of all Research Sundry accounts.

 

10. Work with the Director of Administrative Support and Finance to develop various financial models and reports for department’s senior management meetings, including but not limited to, pro forma income statements, cash flow analysis, formal 5-year projections, business plans for new programs and/or major equipment purchases, network development and other reports upon request.

 

11. Assist the Director of Administrative Support and Finance to develop and document departmental policies and procedures for financial and reimbursement, along with identifying opportunities and implementing any enhancements and internal control processes.

 

12. Perform additional special projects and other duties as needed.

 

 BILLING AND COMPLIANCE

 

1.  Assist the Director of Administrative Support and Finance to develop, implement and maintain a standard senior management report set focused on accounts receivable and revenue cycle issues, including but not limited to, days in accounts receivable reports, billing lag reports, and contractual allowance and bad debt reports, along with monthly narrative that will provide management with an adequate awareness of trends, significant departmental and divisional issues that require attention and monitoring.

 

2.  Collaborate with both central and departmental billing management to ensure that trends are thoroughly reviewed, discussed and investigated, Responsible for analyzing and reporting monthly billing and collection reports to monitor operations performance, along with revenue control and cash reconciliation.

 

3.  Collaborate with the Billing Manager and the BWPO billing company and hospital billing departments to analyze outstanding patient accounts receivable, error queues, and rejection reports to analyze denials.

 

4.   Assist the Director of Administrative Support and Finance to develop and maintain meaningful monthly revenue reporting and statistical analyzes, including productivity measures/standards, for senior management.

 

5.  Work with Billing Manager and Director of Administrative Support and Finance to initiate and develop efforts to automate and streamline billing processes. Pursue initiatives to expand and enhance revenue-reporting capabilities and improve efficiency across the BWPO, BWH and DFCI and Milford network site.

 

6.  Conduct contract Audit and Analysis utilizing the BWPO contract management system: PMMC Physician Pro system and other research methods, analyze third party payments compared to expected payments per contractual terms, fee schedules, or other formal agreements and payment protocols. Develop user-friendly reports to routinely inform senior management regarding trends and variances. Summarize related information such that it can be reported to payors, both during contract negotiations and to support ongoing payor relationship management. Recommend revenue cycle/system solutions that might minimize payment variances. Identify trends and areas of opportunity for revenue cycle improvements, including revenue enhancement opportunities

 

7.  Periodically sample and review the adjudication of payment variances recorded in IDX Billing Accounts Receivable module in order to determine compliance with BWPO paycode utilization protocols and, therefore, assess the appropriateness of the related general ledger reporting.

 

8.  Assist the Director of Administrative Support and Finance to development of a compliance program for each institution, longer-term planning by identifying opportunities for more efficient operations and/or improved performance.

 

9.  Participate in benchmarking and other surveys, utilizing the Faculty Practice Solution Center application to identify areas of strength and opportunity, and to prepare reports that provide timely and useful industry comparatives to senior management. Propose and develop an innovative revenue reporting scorecard that highlights the revenue performance in benchmarked target areas that are established at both the departmental, divisional and physician level.

 

10. Work with Director of Administrative Support and Finance on certain physician compensation analyses, particularly those that include benchmarking of productivity, compensation and compensation per unit of production. Assist in the development of physician compensation and incentive models that might be effective.

 

 

Qualifications:

 

1.  B.S. Accounting or Finance with 3-5 years of finance or budget-related experience required.

2.  Masters degree in Accounting, Finance, or Healthcare; or CPA preferred.

3.  A minimum of 2-3 years of experience in healthcare, preferably in physician practice of managed care environment or academic medical center. Previous experience in billing is preferred.

4.  A broad and thorough knowledge of financial systems, budget management, financial planning, reimbursement issues and regulations; GAAP, accounting processes and controls.

5.  Demonstrate proficiency with General Ledger System, Microsoft Applications: Excel, Access, Word, and PowerPoint, spreadsheets and databases, along with exceptional multi-tasking skills.

 

Skills and Abilities:

1.  Exceptional interpersonal skills, including the ability to establish and maintain effective relationships with corporate cross-functional areas, physicians, management, and other customers.

2.  Ability to develop a thorough understanding of all Hospital accounting systems and their relation to all Partners Corporations, as well as BWPO multi-specialty group faculty practice plans; and business associates service agreements

3.  Experience with PeopleSoft General Ledger application, Business Intelligence tools and relational databases, such as Business Objects Budget System and Sq1 Server considered a positive.

4.  Must be capable of functioning independently and dealing persuasively and effectively with managers throughout the organization and work in a team environment

5.  Demonstrate strong customer service skills, including the ability to use appropriate judgment, independent thinking and creativity when resolving customer issues.

6.  Must be capable on interacting effectively with all levels of staff.

7.  Ability to effectively handle challenging situations and to balance and shift multiple priorities.

8.  Ability to handle sensitive and confidential patient and employee information.

9.  Excellent written and verbal communication skills

 

Working Conditions:

 

1.  Ability to work and excel in a complex, demanding environment required with time-sensitive deadlines.

 

Fiscal Responsibilities:

 

1.  Oversee the consolidation of a $160M operating budget, capital budget, forecasting and multi-year planning for Departments of Radiation Oncology at Brigham and Women’s Hospital, Dana Farber Cancer Institute, and the Brigham and Women’s Physicians Organization, Milford network site, including identifying variance explanations, trends, projections, and reporting overall performance, new initiatives and key drivers to Chair of Radiation Oncology, Senior Management, and Clinical Operations Team.

 

 

 

To learn more about BWH, please contact Rose Damaskos at rdamaskos@partners.org

 

 Brigham and Women’s Hospital is an EEO, AA and VEVRAA employer.