Financial Management

• The ASC Business Manager is responsible to develop, track and analyze revenue cycle and statistical reporting for their assigned area (s)to maximize revenue cycle operations, improve processes, and monitor the ASC's ' financial performance.

• Responsible for the accurate and timely reporting of the patient accounting data and business office metrics to the perioperative, administrative l and executive leadership teams.

• Coordinates reporting with centers preparing revenue cycle data related to the ASC's budgets and performance.

• Analyze financial trends utilizing dashboards on a bi-weekly, monthly, quarterly, and annual basis

• Provide support to the ASC leadership team in the revenue cycle management process and distributes reports as appropriate

• Responsible for the coordination of the rate matrix and the fee schedules for the ASCs, making sure they are updated periodically and submitted to finance for approval.

• Supports process improvement efforts of internal and external customers by providing detailed root cause analysis.

• Develops tools and create standards for tracking and monitoring revenue cycle processes for center-specific financials and budgets. Mentors and coaches the leadership team when needed.

• Provides educational and financial analysis to adequately monitor patient accounting transactions, budgeting, accounts receivable management, or other analysis of existing or proposed services

• Assists with gathering and analyzing data for Internal Audits and for Managed Care as well as performs due diligence for proposed centers

• Accurately gather, synthesize, and communicate timely relevant information and recommendations including the regulatory issues that impact revenue cycle for ASCs

• Works with Internal Audit and Compliance Department(s) to conduct periodic reviews of compliance with Health System policies.

• Partners with the ASC Governing Board in developing guidelines and implementing the center's response to changing healthcare needs.

• Develops and provides input on models to achieve alignment between revenues, quality, and expenses.

• Proactively collaborates with executive leadership to identify and implement best practices related to clinical quality, volume growth, and operational excellence, including recommending, developing, and executing short- and long-term strategic plans that drive best in class clinical, financial, and operational results.

Fiscal Responsibility

• Collaborate with clinic ASC Senior Administrator and Executive Leadership team in strategic planning and financial forecasting.

• Preparation of annual budgets.

• Produces and reviews monthly financial statements and explains variances against budget; communicates findings and makes suggestions to improve results.

• Reviews monthly Accounts Receivable data including productivity, collections and aging of accounts and makes suggestions to improve results.

• Analyzes and reviews ASC benchmarking data pertaining to specialty and case costing as well as utilization and efficiency. Implements cost effective measures when appropriate.

• Management and oversight of facility contracts.

• Maximizes ASC effectiveness utilizing corporate resources appropriately and effectively.

• Works closely with ASC management staff and medical providers to identify opportunities for reducing operating expenses and enhancing practice revenue.

Business Operations

• Ensure compliance with VCU Health System policies and procedures as related to internal controls.

• Develops, monitors, and collaborates with the nurse leader and Senior Administrator regarding the staffing needs, operations budget, and capital budget.

• Develops, monitors, and control the purchasing plan to stay within the proposed budget and maintain compliance with group purchasing initiatives.

• Ensures compliance with government regulatory agencies and accrediting bodies.

• Negotiates and controls all external contracts, such as those with physicians, ancillary services, plant maintenance, and purchasing agreements.

• Establishes pricing for procedures based on cost analysis and local market standards.

• Develops and ensure compliance with appropriate departmental policy and procedure manuals for use by the staff.

• Closely monitors variations in the financial performance of the facility to avoid cash flow problems.

• Oversees the maintenance of facility license and certification renewals.

Miscellaneous Responsibilities (if assigned)

• Performs other duties as assigned and/or participates in special projects to support the mission of VCUHS and department.

• Provides assistance to team members. Accepts alternate assignments, as required, graciously.

• Represents IT/Finance on various Hospital financial committees/task forces.

• Assists change teams for redesign initiatives.

• Develops and leads financial training workshops for staff.

Employment Qualifications

Required Education:

Bachelor's degree in business, Finance, Accounting, or other job-related field from an accredited program to include coursework in operations management, financial management, and cost accounting Education/training

Preferred Education:

Master's degree in business, Finance, Accounting, Health Administration or other job-related field from an accredited program

Licensure/Certification Required:

Licensure/Certification Preferred:

Certification or advanced membership in an appropriate professional organization a plus.

Years and Type of Required Experience

Minimum of five (5) years in finance or accounting with two (2) years of experience in a healthcare environment.

Minimum of five (5) years of experience with spreadsheets, databases, and report-writing software Experience in data/information analysis.

Previous experience with compensation, payroll, contracts, business administration, process improvement, data analytics, revenue cycle and/or regulation compliance.

Previous experience with contract negotiations

Other Knowledge, Skills and Abilities Required:

May require working early/late hours or weekends

Cultural Responsiveness

Demonstrates commitment to diversity, equity, and inclusion through continuous development, modeling inclusive behaviors, and proactively managing bias.

Other Knowledge, Skills and Abilities Preferred:

Experience in an academic medical center or physician practice

Project management experience.

Prior experience utilizing an Electronic Health Record (EHR)

This position has the potential to work in the office and from home.

EEO Employer/Disabled/Protected Veteran/41 CFR 60-1.4.