Business Manager

Stanford Health Care; Newark (CA); On-site; USD 86,444 - 114,561; Full time

Job summary

Stanford Health Care is seeking a Business Manager to oversee the department's day-to-day finances and operations in Newark, CA. You will manage annual operating and capital budgets, monitor expenditures, and drive long-range planning with the Finance team.

Responsibilities include optimizing revenue, cost containment, variance analysis, reporting, and contract review to support department profitability and strategic growth. Strong leadership and analytical skills are essential.

Qualifications

• Bachelor’s degree in a work-related field from an accredited college or university.
• Five years of progressively responsible and directly related work experience.

Responsibilities

• Plans, develops, and implements annual operating and capital budgets; monitors expenditures and variance reports.
• Develops strategies to maximize revenue while ensuring regulatory compliance and cost control.
• Performs historical data analysis for budget preparation and funding requests.
• Collaborates with Finance on long-range planning and benchmarking; interprets LRFP for action.
• Sets up structures to monitor variances and track financial trends; provides ad hoc reporting.
• Evaluates feasibility of equipment purchases and reviews contracts for cost effectiveness.
• Negotiates with vendors and oversees outside services; ensures financial controls to minimize revenue loss.
• Prepares monthly financial, benchmarking, and performance reports for internal and external use.

Skills

Budgeting

Forecasting

Financial analysis

Contract negotiation

Education

Bachelor’s degree in a work-related field

Tools

ERP systems

Financial software

Job description

This is a Stanford Health Care job.

A Brief Overview

The Business Manager manages the day-to-day financial and business operational activities of the department. Responsibilities include budgeting, forecasting, accounting, long-range planning, pricing, negotiation of contracts, productivity analysis and revenue management.

Locations

Stanford Health Care

What you will do

• Plans, develops, and implements annual operating and capital budgets for the service line. Monitors all expenditures to ensure adherence and compliance with budget, projected spending trends, controls expenditures and ensures cost effective operations within the department; completes variance reports and suggests/implements corrective action to resolve budget variances.
• Develops and implements strategies to maximize revenue for the service line while maintaining regulatory compliance. Assists in the identification and implementation of cost reduction activities for the service line; assesses continuously the financial viability of existing programs and practice patterns, and develop methods to optimize practices and resources.
• Performs historical data analysis of past and current years for budget preparation and funding request justification.
• Works closely with Finance on long range financial planning (LRFP) and benchmarking for the department and helps interprets LRFP into a plan of action. Monitors key financial indicators to proactively address financial matters and assist with strategic planning.
• Establishes structures to monitor variances and track financial trends including revenue and labor expenses; provides ad hoc reporting for business questions that arise regarding volume, cost, performance and profitability of the department.
• Analyzes financial implications and impacts of proposed and existing programs. Recommends improvements in systems and processes that enhance efficiency and reduce costs within the department and throughout the organization.
• Analyzes, prepares and makes recommendations on business plans for new services and programs aimed at promoting and expanding the department activities. Works closely with Director for the development and implementation of strategic initiatives focused on identifying and pursuing opportunities to improve the profitability and market share of the department.
• Supervises development of comprehensive business plans and program initiatives to support department goals including financial impact and feasibility. Assists in translation of business plans into operational reality.
• Evaluates feasibility of equipment purchase and reviews contracts for purchase of equipment to ensure consistency with Department expectations regarding financial benefit and other budgetary issues; recommends and participates in selecting outside sources for needed services; negotiates with vendors regarding contracts for equipment maintenance and repair.
• Works closely with Finance to ensure operational elements of revenue management including tracking, collecting and recovering revenue; ensures that financial controls are in place to minimize possibility of revenue loss
• Sets up audit mechanisms to track charge master and revenue management within department.
• Monitors and ensures proper accounting of service line expenditures.
• Prepares monthly financial, clinical, benchmarking reports for internal and external purposes.
• Oversees expenditures to ensure appropriate use of hospital funds; oversees the favorable negotiation and implementation of contracts with outside parties for products and services
• Perform other duties as assigned

Education Qualifications

• Bachelor’s degree in a work-related field/discipline from an accredited college or university.

Experience Qualifications

• Five years of progressively responsible and directly related work experience.

Required Knowledge, Skills and Abilities

• Knowledge of financial systems, including operations, budgeting and analysis, statistics, and forecasting and modeling
• Knowledge of principles and practices of organization, administration, fiscal and personnel management
• Knowledge of financial and operational management information systems
• Knowledge of local, state and federal regulatory requirement related to the functional area
• Ability to develop and administer departmental budgets
• Ability to identify the need for and to pursue interdepartmental process improvement to maximize financial outcomes
• Ability to develop, write, analyze and present business plans, proposals, contracts and financial analysis reports
• Ability to use sophisticated conceptual, numerical, analytical and statistical skills to solve complex, unique financial problems
• Ability to provide leadership and influence others
• Ability to foster effective working relationships and build consensus
• Ability to mediate and resolve complex problems and issues
• Ability to develop long-range business plans and strategy
• Skills: Strong decision making, problem solving, project management, analytical, interpersonal, negotiation, and collaboration skills

These principles apply to ALL employees:

Stanford Health Care sets a high standard for delivering value and an exceptional experience for our patients and families. Candidates for employment and existing employees must adopt and execute C-I-CARE standards for all of patients, families and towards each other. C-I-CARE is the foundation of Stanford’s patient-experience and represents a framework for patient-centered interactions. Simply put, we do what it takes to enable and empower patients and families to focus on health, healing and recovery.

• Know Me: Anticipate my needs and status to deliver effective care
• Show Me the Way: Guide and prompt my actions to arrive at better outcomes and better health
• Coordinate for Me: Own the complexity of my care through coordination

Equal Opportunity Employer Stanford Health Care (SHC) strongly values diversity and is committed to equal opportunity and non-discrimination in all of its policies and practices, including the area of employment. Accordingly, SHC does not discriminate against any person on the basis of race, color, sex, sexual orientation or gender identity and/or expression, religion, age, national or ethnic origin, political beliefs, marital status, medical condition, genetic information, veteran status, or disability, or the perception of any of the above. People of all genders, members of all racial and ethnic groups, people with disabilities, and veterans are encouraged to apply. Qualified applicants with criminal convictions will be considered after an individualized assessment of the conviction and the job requirements.

Base Pay Scale: Generally starting at $62.75 - $83.16 per hour

The salary of the finalist selected for this role will be set based on a variety of factors, including but not limited to, internal equity, experience, education, specialty and training. This pay scale is not a promise of a particular wage.