Reporting to the Michigan Medicine Chief Financial Officer (MMCFO), the Associate Chief Financial Officer for Ambulatory Care Services (ACFOACS) serves as the principal finance executive for outpatient and ambulatory care operations at University of Michigan Health, a business unit within Michigan Medicine that generates $5.4 billion in annual revenue. The ACFOACS is also accountable to the Ambulatory Care Services Triad (the Associate Chief Operating Officer, the Chief Nursing Officer, and the Chief Clinical Officer).
The ACFOACS has responsibility for all accounting, financial reporting, budgeting, business plan pro forma development, and financial analysis functions pertaining to Ambulatory Care Services, which generates approximately $2.8 billion in annual patient care revenue.
The ACFOACS will be a strategic financial adviser to the Ambulatory Care Services leadership and to the MMCFO and will create partnerships to execute operational and strategic initiatives. The ACFOACS also will work with health system Corporate Finance shared services (Revenue Cycle, Reimbursement, Contracting, Accounting and Finance, Reimbursement, and Planning and Analysis), Procurement, Human Resources, Health Information Management, and other functional areas to perform financial management responsibilities.
The MMCFO will periodically assign broader responsibilities to this role.
Organizational Relationships
Reports directly to the MMCFO and serves as an active member of the Michigan Medicine CFO Council, joining the finance leaders of University (Adult) Hospital, Children’s and Women’s Hospital, the University of Michigan Medical Group, the Regional Health System (University of Michigan Health-West, University of Michigan Health-Sparrow, and the Regional Medical Group), and the Medical School.
Partners with the Ambulatory Care Services Triad to ensure financial integrity and to achieve the financial and strategic expectations of Ambulatory Care Services.
Works with practice leaders and the clinical department chairs and administrators to provide business intelligence to assess and improve patient care efforts.
Partners with the Associate CFO of the Medical School to coordinate information and data relevant to the funds flows from the clinical enterprise to the academic enterprise.
Works in a corporate finance shared service model with the Corporate Controller, Chief of Revenue Cycle, Chief of Contracting, and Senior Director of Reimbursement to make decisions regarding accounting, reporting, budgeting, revenue recognition, commercial contracting, coding, pre-authorizations, and other related subject matter.
Mission Statement
Michigan Medicine improves the health of patients, populations and communities through excellence in education, patient care, community service, research and technology development, and through leadership activities in Michigan, nationally and internationally. Our mission is guided by our Strategic Principles and has three critical components; patient care, education and research that together enhance our contribution to society.
Responsibilities*
Financial Management
Interpret monthly financial results for the leadership team and identify opportunities to improve performance.
Lead implementation of value and margin initiatives related to finance activities and as identified by the MMCFO.
Establish processes by which strategic objectives and plans are developed and integrated into financial planning, and ensure that Michigan Medicine?s financial, capital, and operational resources are deployed with integrity and aligned with the strategic goals of Michigan Medicine.
In cooperation with the Corporate Controller?s office, responsible for total financial performance, financial reporting package oversight, managerial financial package oversight, forecasting/budgeting, financial planning and analysis, short term and long-range performance, capital and other key financial specific processes.
Ensure integrity of financial reporting system and develop management reporting tools that provide insightful analysis to enable leaders and managers to make effective business decisions. Play a central role in developing the business analytics in support for Michigan Medicine activities.
Works in conjunction with the Ambulatory Care Services Triad in:
? Planning of activity and staffing projections.
? Determining the need for and allocation of human, space, fiscal and material resources.
? Implementing and monitoring operating and capital budgets; and executing corrective action plans to resolve variances.
? Developing, implementing and evaluating value and margin improvement initiatives.
Personnel Management
Directly manage the Ambulatory Care Services financial managers and analysts.
Provide input to the Corporate Controller?s Office regarding staff planning and resource needs.
Lead recruitment, mentorship, and professional development of finance staff assigned to Ambulatory Care Services to ensure consistency of skills and abilities.
Performance Improvement
Support the Ambulatory Care Services Triad in establishing, implementing, and monitoring Michigan Medicine and Ambulatory Care Services goals and priorities.
Define and report on financial goals for Ambulatory Care Services, establish margin improvement opportunities and work with clinical leadership to execute the initiatives.
Professional Development
Development personal performance goals and competency enhancement efforts.
Attend training programs as defined together with the MMCFO.
Participate in mentoring programs for staff.
Model Michigan Medicine’s institutional values.
Build collaborative relationships and promote a culture of teamwork, service, and excellence.
Required Qualifications*
Education
Required: Master’s degree from an accredited university or college in finance, business administration, health administration, public health, public administration, accounting, or related field or equivalent professional certification (e.g., Certified Public Accountant).
Experience and Abilities
Progressive experience leading finance functions within a complex, matrixed, and growing health care organization.
Manage staff directly, and manage financial functions and processes through influence and professional relationships (necessary in a shared-services matrixed financial management framework)
Individuals with experience in an academic medical center, major teaching hospital, multi-hospital system, multi-specialty physician groups, and large ambulatory care operation will be strongly valued.
Track record of driving strategic resource planning and budgeting, operations and risk management, and developing decision support analytics and systems to support these activities.
A strong business orientation with the ability to “go beyond the numbers” in helping the senior executive team identify and develop opportunities to strengthen the financial performance and continue to shape a top-tier institution for the future.
A proven leader of people who can recruit, develop and mentor a sophisticated financial team.
Ability to engage with colleagues and lead change using a collaborative, inclusive, diplomatic style with an effective communication style.
Ability to gather, validate and evaluate data and relevant metrics to develop proposals and recommendations.
Achieve trusted adviser status.
Be collegial and open; honest and straight-forward; and have the confidence to operate successfully in a faculty and clinician-driven culture and in a matrixed shared services organization.
Background Screening
Michigan Medicine conducts background screening and pre-employment drug testing on job candidates upon acceptance of a contingent job offer and may use a third party administrator to conduct background screenings. Background screenings are performed in compliance with the Fair Credit Report Act. Pre-employment drug testing applies to all selected candidates, including new or additional faculty and staff appointments, as well as transfers from other U-M campuses.
Application Deadline
Job openings are posted for a minimum of seven calendar days. The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled anytime after the minimum posting period has ended.
U-M EEO/AA Statement
The University of Michigan is an equal opportunity/affirmative action employer.
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