Business Manager

Children's National Medical Center; Silver Spring (MD); On-site; USD 98,000 - 163,000; Full time

Job summary

Children's National Hospital in Silver Spring, MD seeks an experienced Business Manager to oversee departmental budgets, financial reporting, and strategic initiatives within the Pediatric Health Network. You will reconcile monthly reports, monitor operating and capital budgets, and partner with leadership to drive value-based care programs.

Candidates should have a Bachelor's degree (MBA preferred) and at least five years in hospital administration with analytics experience; strong

Qualifications

• Bachelor's degree required; MBA preferred.
• 5 years of business or hospital administration experience.
• 3 years of progressive financial analytics and data modeling preferred.
• Analytical ability to evaluate data and develop actionable plans.
• Familiarity with healthcare finance and budgeting.

Responsibilities

• Contribute to department strategic planning and evaluate new program initiatives.
• Assist with development, implementation and evaluation of services and policies.
• Prepare and monitor operating and capital budgets; analyze variances with leadership.
• Review revenue reconciliation and insurance contracts; support ROI analyses.
• Develop performance metrics and reporting for quarterly dashboards.

Job description

1 Inventa Place Silver Spring, MD 20910

Kids Are Our Everything.

Department

10467 Pediatric Health Network

Pay Range

$97,947.20 - $163,238.40Support the administration and financial oversight of value-based care arrangements by reviewing monthly financial reports, reconciling shared savings and quality payments, and help with provider network management.Participates in planning, implementation, management and evaluation of service/department activities for Children's National in accordance with accepted national standards and administrative policies. The Business Manager is responsible for preparing and ensuring the accuracy of monthly financial reports for each assigned cost center. Will review and analyze variances with each team and tracks progress of any improvement plans. Assist with the development and monitoring of operating and capital budgets to ensure accurate reporting of revenue and expenses. Work closely with leadership team in developing business strategies and new business plans. Proactively review current processes and make recommendations to improve efficiencies.

Minimum Education

Bachelor's Degree (Required) Or

MBA (Preferred)

Minimum Work Experience

5 years Business Administration, Hospital Administration, Public Administration or other related field (Required)

3 years Progressive financial analytics and data modeling (Preferred)

Required Skills/Knowledge

• Demonstrates creativity, foresight and judgment in managing competing demands and workload.
• Analytical ability sufficient to evaluate data, make judgments and provide recommendations and action plans regarding department operations and budgets, design protocols, and generate actionable business reports.
• Familiarity with healthcare finance.
• Skilled communicator with a style that engenders trust and accountability while partnering with diverse team members.
• Highly energetic with a collaborative style and ability to quickly adapt to an ever changing environment.

Functional Accountabilities

Department Strategic Planning

• Contribute to strategic plan formulation for department services, including both short-term and long-term objectives.
• Collaborate with leadership to evaluate new program initiatives for effectiveness, sustainability and fiscal feasibility.
• Assist department leadership with development, implementation and evaluation of services, programs, policies and procedures, and performance standards to achieve departmental goals.
• Promote the success of organizational and department initiatives by clearly aligning programs to the mission.

Budget & Financial Management

• Prepare documentation and projections to support operating and capital budget planning process for responsible cost centers.
• Monitor and/or prepare daily, monthly, and quarterly performance data for budget variances and collaborates with management team to resolve discrepancies; action plan to meet budget gaps.
• Monitor payroll distribution of staff to ensure salary expenses are within budgeted projections; ensures timely correction of payroll allocation.
• Review monthly statistics; analyze variances and communicates with leadership teams to address gaps and correction plans.
• Prepare business plans for new ventures, acquisitions & purchase of new equipment.
• Analyze revenue reconciliation and reimbursement to identify trend, insurance contract negotiations and collaborates with team to develop and implement correction plan.

Performance Metrics, Program Evaluation & Enhancement

• Assist in the development, evaluation and implementation of new ventures, services, partnerships and acquisitions; develops business plans and financial projections.
• Work with leadership team to develop performance metrics and evaluation tools for measuring each aspect of clinical contracts and quarterly performance indicator reports.
• Provide analysis of performance metrics reports and updates financial dashboard.

Grants/SPF management

• Assist Foundation team in preparing grant reports as requested.
• Monitor and/or prepare monthly special purpose funds performance reports and resolve discrepancies as needed.
• Work with Grants Management Office in preparing for new grant submissions as well as monitoring on-going grants expenses to ensure appropriate accounting of grant related expenses and FTE allocation. Make corrections as needed.

Project Management

• Develop business plans for new programs, acquisitions, or equipment. Monitor the return on investment (ROI) semi-annually for each business plan and submit to leadership team with analysis and recommendations.
• Creates project plans with milestones, deliverables and accountability assignments.
• Proactively work with project team to ensure projects are delivered on budget in a timely manner.

The disclosed salary range includes the minimum and maximum rates within which Children's National believes an individual's base pay rate will fall for this position. It is not typical for an individual to be hired at or near the maximum of the pay range. The exact pay rate for this position will be based on a variety of factors in alignment with the Children's National compensation philosophy. These factors are legitimate and non-discriminatory including, but not limited to, the current market conditions; organizational needs; the individual's combination of prior work experience, level of education, knowledge, skills, and other qualifications. Children's National is committed to providing a fair and competitive total rewards package to each of our employees. This base salary range does not include our comprehensive benefits package or any additional compensation for which this position may be eligible.

Childrens National Hospital is an equal opportunity employer that evaluates qualified applicants without regard to race, color, national origin, religion, sex, age, marital status, disability, veteran status, sexual orientation, gender, identity, or other characteristics protected by law. The "Know Your Rights" poster is available here: and the pay transparency policy is available here:Know Your RightsPay Transparency Nondiscrimination Poster.

Please note that it is the policy of Children's National Hospital to ensure a "drug-free" work environment: a workplace free from the illegal use, possession or distribution of controlled substances (as defined in the Controlled Substances Act), or the misuse of legal substances, by all staff (management, employees and contractors). Though recreational and medical marijuana are now legal in the District of Columbia, Children's National and its affiliates maintain the right, in accordance with our policy, to enforce a drug-free workplace, including prohibiting recreational or prescribed marijuana.