Finance Manager

Responsibilities:

• Develop and manage the hospital’s annual budget in collaboration with departmental heads.
• Monitor financial performance against budget and prepare variance reports.
• Conduct financial analysis, including profitability analysis and cost-benefit evaluations for new initiatives.
• Prepare financial forecasts to guide long-term planning.

2. Financial Reporting:

• Oversee the preparation of monthly, quarterly, and annual financial reports for internal and external stakeholders.
• Ensure compliance with accounting principles and healthcare financial regulations.
• Present financial results and key insights to the management and the board.

3. Revenue Cycle Management:

• Monitor and improve the hospital’s revenue cycle, including billing, coding, collections, and patient account management.
• Ensure timely billing, minimize delays in collections, and work to reduce bad debts.

4. Cost Control and Efficiency:

• Develop strategies for cost-saving measures and increase efficiency in hospital operations.
• Collaborate with department heads to ensure financial discipline across the hospital.

5. Compliance and Audit:

• Ensure compliance with regulatory bodies and financial regulations applicable to healthcare institutions.
• Coordinate and manage internal and external audits.

6. Capital Expenditure:

• Manage and monitor capital expenditures, ensuring alignment with the hospital’s strategic goals.
• Review and recommend approval of capital projects and equipment purchases.

7. Team Leadership:

• Lead, mentor, and manage a team of financial professionals including accountants, analysts, and billing specialists.
• Foster a culture of continuous improvement and accountability within the finance team.

Requirements:

• Bachelor’s degree in Finance, Accounting, or a related field.
• 5-7 years of financial management experience, preferably in healthcare, hospital settings or well-known audit firm.
• Strong knowledge of financial regulations, accounting standards, and healthcare finance.
• Proficiency in financial management software and healthcare billing systems.
• Excellent leadership, communication, and interpersonal skills.
• Ability to communicate financial concepts to non-financial stakeholders.