Finance Other - Baystate Health
Category(s): Finance, Finance Other
Full Time / Part Time: Full-Time
Reporting directly to the BFIT Sr. Consultant, this position serves to coordinate, monitor and report progress of system wide financial improvement initiatives. As part of the Baystate Financial Improvement Team (BFIT) office, this position serves a vital role in assisting the organization with realizing its financial stewardship goals. Under direction of the BFIT Sr. Consultant, this position collaborates on a regular basis with the following departments and functions: Budget & ISFP teams, Decision Support, General Accounting, Human Resources, VMO, Operations Excellence, Capacity Management, Internal Audit and other operational groups across Baystate Health to compile and report on collective results to Senior Management. Project management skills, knowledge of financial systems and related technology are required for success. Being a self-motivated collaborative contributor to the Financial Improvement Initiatives is critical.
Through use of influence, lead sponsors and BFIT office leadership, to completion of intermittent goals and eventual project success. This position identifies the right (available) resources and communicate to executives if project goals do not reach desired measures. Give guidance to Project Sponsors for projects that are at risk of not meeting pre-determined goals by offering advice or use of problem solving skills. When projects fall behind, find ways to provide momentum. While financial improvement strategies are always evolving, specific projects within the scope of this role include, but are not limited to the following:
1) Clinical Documentation Initiatives
2) Capacity Management/ LoS Initiatives
3) Labor Productivity and Labor Spend Initiatives; including potential to own a revamped labor benchmarking function.
4) Non-Wage Improvement Tracking, including but not limited to Supply Chain, Pharmacy, VMO, FNS, Engineering, Real Estate, and other non-wage expense policy goals.
Overseeing the BFIT function are two Sr. Directors sponsors, from Hospital Operations and Finance Operations, and the Sr. Consultant for the BFIT office. While this position will report directly to the Sr. Consultant, the incumbent to this role will also need to be capable of independantly leading specific projects and communicating effectively with senior leadership. This will be a very visable role that interacts with stakeholders across the organization, making effective communication skills paired with sound financial acumen a must. Due to highly collaborative nature of BHIT, flexibility, innovative thinking, and effective communications skills are key attributes to this function's success.
1) Coordinates, monitors and reports progress on financial improvement initiatives across the health system to system stakeholders and Senior Management. Presentation is in report form or public presentation.
2) Collaborate with various project managers to update status reports, establish metrics, complete budget estimates and reconcile projections to actual experience.
3) Communicates the status of projects to Senior Management and quantifies the success of the various initiatives, including best practices and/or projects at risk. In addition, contributes to sustainability by seeking to identify future opportunities for improvement.
4) Collaborates with entity level departments to compile and summarize collective results. Establishes “sustainability methodology” and reporting structure to ensure project improvements are maintained.
5) Establishes and maintains adherence to project management methodology, standards, procedures and tools for key activities and deliverables throughout the various initiatives.
6) Seek out economies of scale, resource sharing, and minimization of duplication for projects that have related or similar functions and initiatives.
7) Reconciles program financial information with the Lawson Financial System and the Axiom system.
8) Maintains project contact list, identifies and manages resource needs and participants including subject matter experts/outside resources. Retain a broad network of internal and external resources with varying skills and job functions.
9) Documents and maintains a set of formal written standards, policies and procedures for the BFIT office
10) Plans BFIT office meetings, prepares meeting materials, contact listings and status updates with stakeholders.
11) Through use of influence, lead project managers and sponsors to completion of intermittent goals and eventual project success. Identify the right (available) resources and communicate to executives if project goals do not reach desired measures.
12) Provide guidance to Project Managers for projects that are at risk of not meeting pre-determined goals by offering advice or use of problem solving skills. Use project management methodologies to offer potential courses of action for correction. When projects fall behind, find way to provide momentum.
13) Train and mentor new staff to the department as they are on boarded. For new members to Financial Improvement Initiative work groups, provide training in project management methodology and processes. Focus is delivery of Financial Improvement goals.
14) Maintain a list of project ideas that are not readily implementable for future use. Obtain new ideas from industry trends, meetings with management and employees at all levels, and from ideas submitted through various forums/mediums. Act on ideas when determined valuable and reasonable.
15) For new projects or when there is a lack of metrics or undetermined opportunity, identify metrics or lead analysis to quantify potential opportunity for financial improvement and future success measures. Develop a pro-forma if necessary with project goals.
16) Facilitate project work groups by combining resources and departments in dialogue that leads to desired results. Use BFIT office to identify and link similar work groups and subject matter experts.
17) Monitor expense and revenue trends internal and external to Baystate, engage leaders in innovative new ways to circumvent expense growth.
18) Maintain a strong level of education in healthcare finance, evolving reimbursement methodologies, evolving trends in healthcare management and Project Management.
19) Assist in the development and continuous monitoring of budgets related to Financial Improvement. Help senior management creation of benefit expense budgets allocation to appropriate all BH entities.
Minimum of 4 years in Healthcare Provider Environment.
Experience in dealing effectively with people at various levels of the organization and expertise.
Strong financial, accounting, and analytical experience.
Strong interpersonal, organizational, and administrative skills.
Advanced communication and presentation skills, both oral and written.
Leadership, negotiation, and conflict management skills.
Ability to work well in a team environment. Values information sharing.
Self motivated. Ability to work independently and with minimal supervision.
Extensive knowledge of project management methodologies and the implementation of project management structures.
Financial, accounting, and analytical skills.
Technically advanced in MS Office Professional applications.
Advanced Excel Skills
Strong PowerPoint Skills
Strong Communication and Coordination Skills
You Belong At Baystate
At Baystate Health we know that treating one another with dignity and equity is what elevates respect for our patients and staff. It makes us not just an organization, but also a community where you belong. It is how we advance the care and enhance the lives of all people.
DIVERSE TEAMS. DIVERSE PATIENTS. DIVERSE LOCATIONS.
Bachelor of Science (Required), Master of Science
Project Management Certificate – Fred Pryor
Equal Employment Opportunity Employer
Baystate Health is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, marital status, national origin, ancestry, age, genetic information, disability, or protected veteran status.