Practice Financial Unit Director - Unit 2 (Department of Medicine)

Primary Responsibilities

• Manage the Clinical Unit’s funds flow model and understand the relationship between the practice, affiliates, MCW and departmental needs to facilitate enterprise initiatives.
• Lead standardization and implementation of practice-wide business processes and financial operations reporting within the assigned unit.
• Develop appropriate control mechanisms and timely financial reporting to provide a basis for sound financial decision-making.
• Develop and monitor the departmental budget and strategic plans, which comprise a broad range of revenue sources.
• Participate in discussions with representatives of the Medical College and affiliate partners as needed.
• Perform and lead operational and financial reviews for Clinical Unit.
• Analyze, develop, design, and implement administrative systems to effectively manage billing and reimbursement, purchasing, and materials management.
• Ensure compliance with MCP and MCW policies and procedures.
• Play a key role in linking the activities of Froedtert Health and Medical College of Wisconsin’s planning teams with Clinical Unit workforce plans, business plans, benchmarking, annual budgets and long-range financial plans.
• Direct and lead the Unit’s financial analysis relative to provider workforce planning for Medical College Physicians and F&MCW Community Physicians.
• Monitor the success of ramp-up and support needs.
• Provide support/input into business development planning and market-centric strategic financial planning.
• Supervise staff activity, including hiring, mentoring, coaching, delegation of duties, and performance reviews.
• Manage the growth of staff in their appropriate roles.
• Oversee billing process collaborate with faculty practice billing in planning, implementing, and evaluating administrative systems associated with patient care, marketing, and affiliate contracts.
• Monitor the billing and collection performance for the Clinical Unit Department.
• Ensure that Unit financial activities and policies are efficient and in compliance with the Unit and MCW policies and procedures.
• Serve as a resource on these policies and procedures to staff and faculty.
• Manage and support a team overseeing the budget development and financial administration of grants.
• Follow the MCW code of conduct, all laws, regulations, and policies and ensure legal compliance with governmental and grant requirements.

Qualifications

• Appropriate experience may be substituted for education on an equivalent basis.
• Minimum Required Education: Bachelor’s degree
• Minimum Required Experience: 10 years
• Possess a deep understanding of financial principles, including budgeting, forecasting, financial analysis, and reporting.
• Capable of developing and implementing financial strategies aligned with organizational goals and objectives.
• Aptitude for identifying financial challenges and developing creative solutions to address them while minimizing risks.
• Proficient in analyzing financial data, identifying trends, and making data-driven recommendations to improve financial performance and operational efficiency.
• Familiarity with the healthcare industry, including reimbursement mechanisms, regulatory requirements, and financial challenges unique to medical practices.
• Understanding of relevant laws, regulations, and industry standards governing financial practices in healthcare to ensure compliance and mitigate potential risks.
• Strong verbal and written communication skills to convey complex financial information clearly and effectively to diverse stakeholders, including executives, department heads, and staff members.