Director of Finance and Data Analytics, Penn Signature Services

Responsibilities:

• Responsible and accountable for having financial statements and statistical results accurately and consistently reported and prepared on an accrual basis in conformity with general accounting principles and in accordance with Penn Medicines’ policies and procedures. In addition, the individual must have a working knowledge of University/SOM/Hospital/VA side of financial operations.

• Accountable to maintain a system of internal/business controls which are designed to provide reasonable assurance to Penn Medicine Management and Trustees that the information for the department is accurate, timely and reliable.
• Manage revenue cycle services for membership and program billing to ensure the best financial position for the department. Includes oversight of registration, charge, billing, A/R and collections functions.
• Accountable for the development and management of the departmental budget in conjunction with the leadership team.
• • Oversight of the monthly financial close process including revenue and expense reconciliations, identifying accruals and reclasses, preparing journal entries for corporate accounting.
  • Monthly review and analysis of actual versus budget variances to ensure expenses are in line with strategic mission.
  • Preparing monthly and quarterly projections as requested by corporate finance in accordance with health system financial planning.
  • Communicating with leadership team on expense/revenue variances to develop plan to meet and exceed budget targets.
  • Monthly review of all financial statements including accounts receivable reports, profit and loss statement, and balance sheet accounts.
• Lead all data analytics and financial reporting functions for Signature Services
• • Oversee the monthly financial reporting and variance processes for the department. This includes: review of department, divisional, and program level income statement and department balance sheet financial statements. Prepare, review, and analyze the department’s financial statements including; Patient A/R, Gross & Net Patient Revenue, Other Operating Revenue, Inter-Entity support and Expenses. Initiate and create remediation plans to improve finances, as needed.
  • Develop financial reports for all programs capturing patient encounter data involving data mining of large, complex data sets, developing cross-walks between different data sources including salesforce, Hyperion performance management, Lawson, EPIC, etc.
  • Analyze reports to identify trends and provide meaningful conclusions to program leads.
  • Provide ad-hoc financial and data analysis as requested by the leadership team including presentation ready reports and power-point slides.
  • Work with entity financial leadership and communicate financial impacts, strategic improvements, and work process design and improvement.
  • Effectively communicate results of all financial and data reports to leadership team, staff, and others as needed to ensure they understand results along with working with team to use our reports to identify and implement process improvements as needed.
• Lead all finance functions of the Signature Services programs including oversight and process improvements as follows:
• • Penn Global Medicine: Developing individualized self-pay cost estimates, verifying and vetting international insurance for patients/services, ensuring all international patients receiving services at Penn Medicine are cleared financially, working in collaboration with the clinical and care teams to ensure outstanding customer service and patient experience, management of the PGM Accounts Receivable and ensuring bills are sent timely and accurately, building relationships with foreign government financial representatives and ensuring their billing requirements are met.
  • Penn Passport: Managing membership dues to ensure renewals are completed timely and new members are paid before services begin, tracking services used and ensuring internal and external partners are paid timely, financial planning and modeling for growth and development.
  • Executive Health: Work in collaboration with sales team and legal counsel to ensure corporate contracts are executed timely and accurately, ensuring patients are billed timely and accurately, managing the EH Accounts Receivable and communication with corporate financial representatives regarding outstanding bills, ensuring internal and external partners are paid timely, financial planning and modeling for growth and development.
  • Ensure proper use and integration of Salesforce and finance functions including audit of current processes and communicating process improvements.
  • Financial modeling of existing and new products including break-even analysis, return-on-investment, business plans, etc. Prepare business plans for new business ventures, including financial accountability, resource management, evaluation of implementation requirements, costs and return on investments.
  • • Analyze physician capacity vs current and expected volume to plan accordingly.
    • Develop staffing/FTE analysis to ensure proper resources are available for planned growth.
    • Collaborate with sales and leaderships teams to develop customized pricing for corporate contracts.
    • Evaluate reimbursements rates and volume data to customize pricing for foreign government partners.
• Responsible for the recruitment, training, development, and management of the finance and data team of Signature Services.
• • Accountable to have complete understanding of staff job functions for the various programs and responsibility to monitor work product, provide feedback, and improve work processes as needed.
  • Clearly define work expectations, addresses performance issues immediately and directly with the goal of maintaining positive employee relations.
  • Encourage continued growth and ensure staff realizes full potential by identifying individual goals and creating individualized work plans for growth and development.
• Performs duties in accordance with Penn Medicine and entity values, policies, and procedures.
• Other duties as assigned to support the unit, department, entity, and health system organization.

Education/Experience:

• Bachelor's Degree (Required), preferably in Finance, Accounting, Business, Business Analytics or related field.
• Master's Degree in Business or Healthcare Administration (Preferred)
• 5+ years of experience in a related position, including at least 2 years of Supervisory experience (Required).
• 2+ years of experience in a healthcare finance leadership role (Preferred)
• CPA license (Preferred)

Skills & Abilities:

• A superior knowledge of Microsoft Office - Excel, Word, PowerPoint.
  
• Proficiency with SQL and/or other relational database packages.
• Familiarity with SPSS, SAS or other statistical software.
• Demonstrated experience with data analytic and statistical methods.
• Ability to discuss data in a clear and concise manner to a broad and varied audience X Ability to take complex. information and present it in a clear and concise format.
• Strong critical thinking, analytic and problem-solving skills.
• Must be very well organized.
• Must have the ability to work independently and effectively.