Financial Planning & Analysis Sr. Manager

Makati Life Nurture Medical Center Inc.; Makati; On-site; PHP 420,000 - 640,000; Full time

Job summary

Makati Life Nurture Medical Center Inc. in Makati City is seeking a Financial Analyst to evaluate hospital financial performance and drive improvements across budgeting, forecasting, and cost management. The role involves close collaboration with clinical and administrative teams to optimize revenue and efficiency.

The successful candidate will monitor KPIs, support strategic planning, and ensure compliance with healthcare regulations, while providing actionable insights to senior management.

Responsibilities

• Analyze hospital revenue streams, including patient services, insurance reimbursements, and government payments, to identify trends and areas for improvement.
• Monitor KPIs such as average length of stay, bed occupancy rates, and cost per patient.
• Track and report variances in patient volumes, payer mix, and efficiency, and provide corrective recommendations.
• Lead budgeting for departments, align financial plans with strategic goals and operational needs.
• Prepare rolling forecasts factoring seasonality and regulatory changes affecting revenues and expenses.
• Conduct scenario planning for capital expenditures, investments, and cost containment strategies.
• Review and optimize hospital operating costs with department heads to ensure adherence to budgets.
• Collaborate with revenue cycle management for timely billing, collections, and reimbursements.
• Analyze payer mix and reimbursement rates to identify revenue enhancement opportunities and delays.
• Prepare detailed financial reports for management, board meetings, and stakeholders, highlighting performance and variances.
• Present findings on financial metrics, challenges, and opportunities in the hospital's performance.
• Ensure planning and reporting comply with PhilHealth, DOH, and other regulatory bodies, and advise on risk mitigation.
• Support senior management in developing long-term financial strategies and assess ROI for expansion projects.

Job description

Financial Analysis

• Analyze hospital revenue streams, including patient services, insurance reimbursements, and government payments, to identify trends and areas for improvement.

• Monitor key performance indicators (KPIs) specific to the healthcare industry, such as average length of stay (ALOS), bed occupancy rates, and cost per patient.

• Track and report financial variances, including those related to patient volumes, payer mix, and operational efficiency, and provide recommendations for corrective actions.

Budgeting & Forecasting

• Lead the budgeting process for hospital departments, ensuring financial plans align with strategic goals and operational needs.

• Prepare and manage rolling forecasts, factoring in seasonality, patient admission rates, and regulatory changes that may affect hospital revenues and expenses.

• Conduct scenario planning to help senior management make data-driven decisions regarding capital expenditures, operational investments, and cost containment strategies.

Cost Management & Efficiency

• Review and analyze hospital operational costs, including labor, supplies, and capital expenditures, and identify opportunities for cost optimization without compromising patient care.

• Work closely with department heads to ensure budget adherence and implement cost control measures across the hospital.

Revenue Cycle Management

• Collaborate with the revenue cycle management team to ensure timely and accurate billing, collections, and reimbursement from insurers and government programs.

• Analyze payer mix, patient billing patterns, and reimbursement rates to identify areas for revenue enhancement and payment delays.

Reporting & Presentation

• Prepare detailed financial reports for hospital management, board meetings, and stakeholders, highlighting financial performance, variances, and recommendations.

• Present findings on financial metrics, highlighting key challenges and opportunities in the hospital's financial performance.

Regulatory Compliance & Risk Management

• Ensure financial planning, reporting, and processes comply with healthcare regulations and industry standards (e.g., Philippine Health Insurance Corporation [PhilHealth], Department of Health [DOH], and other local regulatory bodies).

• Assess the financial risks related to healthcare reimbursement, regulatory changes, and payer contracts, and advise management on risk mitigation strategies.

Strategic Planning

• Support senior management in developing long-term financial strategies that align with the hospital’s mission, vision, and patient care objectives.

• Provide financial insights into expansion projects, new service lines, and capital investment plans, assessing their financial viability and expected return on investment.

Stakeholder Management

• Work closely with internal stakeholders such as medical staff, department heads, and operational managers to ensure financial plans are aligned with clinical and operational goals.

• Act as a trusted advisor to the management team, offering insights into cost-effective care models, financial sustainability, and strategic growth.