Director - Assets

Medical University of South Carolina; Charleston, Northern (SC, KY); Hybrid; USD 120,000 - 180,000; Full time

Job summary

Medical University Hospital Authority is seeking an Assets Director who reports to the Executive Director of Finance. The role oversees Cash, Investments, Accounts Receivable (patient and non-patient), Prepaids and Inventory for MUHA and affiliated entities with a strong focus on net patient service revenue and net AR calculations.

The position will engage in value-based care research, retail pharmacy reconciliation, prepaid analysis, and grants accounting while coordinating with Treasury,

Qualifications

• Bachelor's degree or equivalent education and/or relevant work experience.
• 9 years progressive work experience and 4 years management experience.
• If you like working with energetic enthusiastic individuals, you will enjoy your career with us!

Responsibilities

• Review reconciliations of operating cash and investment accounts with assistance from Treasury department, along with restricted cash and net position reconciliation.
• Ensure prepaid balances are up-to-date and amortized monthly. Includes regular review of insurance and MIP balances, as well as re-calculating the ERP generated balances to ensure system and data integrity.
• Monthly reconciliation of inventory balances, regularly including coordination and input from Supply Chain.
• Analysis and review of patient accounts receivable (AR) for MUHA and its affiliated companies, including unapplied cash, pharmacy and value based care.
• Monthly recording and review non-patient AR, including grants activity. Ensure regular communication is maintained with other departments to minimize material adjustments and that aged items are addressed promptly.
• Monthly review of cash flow statement on a consolidated and market level. Collaboration with Reporting and Capital teams on changes in the balances from month-to-month.

Skills

Financial analysis

Accounting

Cash flow management

AR reconciliation

Leadership

Education

Bachelor's degree or equivalent

Tools

ERP systems

Microsoft Excel

Job description

Job Description Summary

The Assets Director reports to the Executive Director of Finance and oversees Cash, Investments, Accounts Receivable (patient and non-patient), Prepaids and Inventory for MUHA and its affiliated entities. This position will have a heavy focus on the net patient service revenue and net accounts receivable calculations for each market as well as continued support and research into value-based care. Other areas of focus will be retail pharmacy reconciliation and revenue recognition, prepaid analysis and careful review of the organization’s investments and grants accounting.

Entity

Medical University Hospital Authority (MUHA)

Worker Type

Employee

Worker Sub-Type

Classified

Cost Center

CC001119 SYS - Corp Fiscal Services

Pay Rate Type

Salary

Pay Grade

Health-35

Scheduled Weekly Hours

40

Responsibilities:

• Review reconciliations of operating cash and investment accounts with assistance from Treasury department, along with restricted cash and net position reconciliation. Ensure investment rollforwards are updated monthly and significant fluctuations are consulted with Treasury and Strategic Planning teams for financial ratios like days cash on hand. Monitor the classification of restricted cash (cash vs. investments) and its associated spend on a monthly basis between capital projects and major programs. Ensure workpapers are maintained and updated.
• Ensure prepaid balances are up-to-date and amortized monthly. Includes regular review of insurance and MIP balances, as well as re-calculating the ERP generated balances to ensure system and data integrity.
• Monthly reconciliation of inventory balances, regularly including coordination and input from Supply Chain. Identify and justify large fluctuations between perpetual and periodic inventories and partner with Pharmacy to maintain quarterly cycle counts. Ensure year-end counts are coordinated between Accounting, Supply Chain and Pharmacy and be able to reconcile the results of the counts back to the GL.
• Analysis and review of patient accounts receivable (AR) for MUHA and its affiliated companies, including unapplied cash, pharmacy and value based care. Includes regular review of AR module and analyzing variances and fluctuations among the many components of patient revenues and justifying the final cash-to-net balances each month. Also includes the review of the quality of outstanding AR such as payor behavior changes including denials, non-covered charges, and fluctuations in the value of services in AR. Must be able to effectively communicate findings to Leadership. Also includes review of Pharmacy AR and revenues for each market.
• Monthly recording and review non-patient AR, including grants activity. Ensure regular communication is maintained with other departments to minimize material adjustments and that aged items are addressed promptly. Must work closely with Grants Team and University to reconcile sub-awards and other supporting documents in preparation of the annual Single Audit.
• Monthly review of cash flow statement on a consolidated and market level. Collaboration with Reporting and Capital teams on changes in the balances from month-to-month. Summarize and organize workpapers on a consolidated basis as well as by market and/or facility, if necessary. Support and tick mark balances and the transaction level detail with appropriate documentation.

Minimum Qualifications:

Education: Bachelor's degree or equivalent education and/or relevant work experience

Work Experience: 9 years progressive work experience and 4 years management experience

If you like working with energetic enthusiastic individuals, you will enjoy your career with us!

The Medical University of South Carolina is an Equal Opportunity Employer. MUSC does not discriminate on the basis of race, color, religion or belief, age, sex, national origin, gender identity, sexual orientation, disability, protected veteran status, family or parental status, or any other status protected by state laws and/or federal regulations. All qualified applicants are encouraged to apply and will receive consideration for employment based upon applicable qualifications, merit and business need.

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