Business Manager

Support the administration and financial oversight of value-based care arrangements by reviewing monthly financial reports, reconciling shared savings and quality payments, and helping with provider network management. Participates in planning, implementation, management, and evaluation of service/department activities for Children's National in accordance with accepted national standards and administrative policies.

Responsibilities

• Prepare and ensure the accuracy of monthly financial reports for each assigned cost center.
• Review and analyze variances with each team and track progress of any improvement plans.
• Assist with the development and monitoring of operating and capital budgets to ensure accurate reporting of revenue and expenses.
• Work closely with the leadership team in developing business strategies and new business plans.
• Proactively review current processes and make recommendations to improve efficiencies.
• Contribute to strategic plan formulation for department services, including both short-term and long-term objectives.
• Collaborate with leadership to evaluate new program initiatives for effectiveness, sustainability, and fiscal feasibility.
• Assist department leadership with development, implementation, and evaluation of services, programs, policies, and procedures, and performance standards to achieve departmental goals.
• Promote the success of organizational and department initiatives by clearly aligning programs to the mission.
• Prepare documentation and projections to support operating and capital budget planning process for responsible cost centers.
• Monitor and/or prepare daily, monthly, and quarterly performance data for budget variances and collaborate with the management team to resolve discrepancies; action plan to meet budget gaps.
• Monitor payroll distribution of staff to ensure salary expenses are within budgeted projections; ensure timely correction of payroll allocation.
• Review monthly statistics; analyze variances and communicate with leadership teams to address gaps and correction plans.
• Prepare business plans for new ventures, acquisitions, and purchase of new equipment.
• Analyze revenue reconciliation and reimbursement to identify trends, insurance contract negotiations, and collaborate with the team to develop and implement correction plans.
• Assist in the development, evaluation, and implementation of new ventures, services, partnerships, and acquisitions; develop business plans and financial projections.
• Work with the leadership team to develop performance metrics and evaluation tools for measuring each aspect of clinical contracts and quarterly performance indicator reports.
• Provide analysis of performance metrics reports and update financial dashboards.
• Assist the Foundation team in preparing grant reports as requested.
• Monitor and/or prepare monthly special purpose funds performance reports and resolve discrepancies as needed.
• Work with the Grants Management Office in preparing for new grant submissions as well as monitoring ongoing grants expenses to ensure appropriate accounting of grant-related expenses and FTE allocation. Make corrections as needed.
• Develop business plans for new programs, acquisitions, or equipment.
• Monitor the return on investment (ROI) semi-annually for each business plan and submit to the leadership team with analysis and recommendations.
• Create project plans with milestones, deliverables, and accountability assignments.
• Proactively work with the project team to ensure projects are delivered on budget in a timely manner.

Requirements

• Bachelor's Degree (Required) or MBA (Preferred)
• 5 years of experience in Business Administration, Hospital Administration, Public Administration, or other related field (Required)

Skills

• 3 years of progressive financial analytics and data modeling (Preferred)
• Demonstrates creativity, foresight, and judgment in managing competing demands and workload.
• Analytical ability sufficient to evaluate data, make judgments, and provide recommendations and action plans regarding department operations and budgets, design protocols, and generate actionable business reports.
• Familiarity with healthcare finance.
• Skilled communicator with a style that engenders trust and accountability while partnering with diverse team members.
• Highly energetic with a collaborative style and ability to quickly adapt to an ever-changing environment.

Pay

Pay Range: $97,947.20 - $163,238.40

The exact pay rate for this position will be based on a variety of factors in alignment with Children’s National compensation philosophy, including but not limited to, the individual’s combination of prior work experience, level of education, knowledge, skills, and other qualifications.