Practice Financial Unit Director - Unit 2 (Department of Medicine)

Medical College of Wisconsin; Milwaukee (WI); On-site; USD 110,000 - 170,000; Full time

Benefits offered by this job

Health insurance

403B Retirement Package

Paid Holidays

Tuition Reimbursement

Parental Leave

Job summary

Medical College of Wisconsin, Milwaukee, seeks an experienced finance leader to oversee the clinical unit's financial administration, budgeting, and reporting. You will partner with chairs and unit administrators to ensure adequate resources for high-quality faculty and staff, and align goals with MCW leadership.

Responsibilities include leading financial operations, standardizing processes, developing controls, and supervising staff, with emphasis on compliance and strategic planning within a

Qualifications

• Bachelor's degree required; Master's preferred in a related field.
• Minimum 10 years of experience in office management with budgeting responsibilities.
• Experience in medical, research, or educational environments is preferred.
• Strong knowledge of budgeting, forecasting, financial analysis and reporting.

Responsibilities

• Manage funds flow and relate practice, affiliates, MCW, and departmental needs to enterprise initiatives.
• Lead standardization and implementation of practice-wide financial operations reporting.
• Develop control mechanisms and timely financial reporting for sound decisions.
• Develop and monitor departmental budget and strategic plans; participate in discussions with MCW and affiliates.
• Analyze, design, and implement administrative systems for billing, purchasing, and materials management.
• Ensure compliance with MCP and MCW policies and procedures.
• Link activities with workforce plans, business plans, benchmarking, budgets and long-range plans.
• Provide support in grants' budget development and financial administration; supervise staff.

Skills

Financial management

Budgeting

Financial reporting

Communication

Analytical skills

Healthcare finance

Regulatory compliance

Leadership

Education

Bachelor's degree

Master's degree

Tools

Excel

ERP systems

Healthcare software

Job description

Summary

Responsible for the financial administration, business operations, and reporting activities within the designated practice unit. Through partnership with the Chair and Unit Executive Administrator, work to ensure that the Clinical Department within the Unit has adequate resources and a conducive financial framework for recruiting and retaining the highest quality faculty and staff. Works under the direction of the Associate Vice President of Finance for the Medical College Physician Practice to establish support functions, reporting mechanisms, and workflows that facilitate effective management of financial information and smooth workflow execution. Accountable for fostering and maintaining an environment conducive to peak performance in all areas of operation. Work closely with Practice Leaders, Clinical Department Leaders, MCW Leaders and other administrators and directors to ensure collaboration and alignment of goals within the Practice.

Primary Responsibilities

• Manage the Clinical Unit's funds flow model and understand the relationship between the practice, affiliates, MCW and departmental needs to facilitate enterprise initiatives.
• Lead standardization and implementation of practice-wide business processes and financial operations reporting within the assigned unit.
• Develop appropriate control mechanisms and timely financial reporting to provide a basis for sound financial decision-making.
• Develop and monitor the departmental budget and strategic plans, which comprise a broad range of revenue sources. Participate in discussions with representatives of the Medical College and affiliate partners as needed. Perform and lead operational and financial reviews for Clinical Unit.
• Analyze, develop, design, and implement administrative systems to effectively manage billing and reimbursement, purchasing, and materials management.
• Ensure compliance with MCP and MCW policies and procedures.
• Play a key role in linking the activities of Froedtert Health and Medical College of Wisconsin's planning teams with Clinical Unit workforce plans, business plans, benchmarking, annual budgets and long-range financial plans.
• Direct and lead the Unit's financial analysis relative to provider workforce planning for Medical College Physicians and F&M CW Community Physicians. Monitor the success of ramp-up and support needs.
• Provide support/input into business development planning and market-centric strategic financial planning.
• Supervises staff activity, including hiring, mentoring, coaching, delegation of duties, and performance reviews. Manage the growth of staff in their appropriate roles.
• Oversee billing process collaborate with faculty practice billing in planning, implementing, and evaluating administrative systems associated with patient care, marketing, and affiliate contracts. Monitor the billing and collection performance for the Clinical Unit Department
• Ensure that Unit financial activities and policies are efficient and in compliance with the Unit and MCW policies and procedures. Serve as a resource on these policies and procedures to staff and faculty.
• Manage and support a team overseeing the budget development and financial administration of grants.
• Follow the MCW code of conduct, all laws, regulations, and policies and ensure legal compliance with governmental and grant requirements.
• Other duties as assigned.

Knowledge - Skills - Abilities

• Understanding of financial and human resources related issues.
• Excellent oral and written communication skills.
• Strong critical thinking, problem solving and attentiveness to detail required.
• Strong computer skills.
• Knowledge of medical terminology preferred.
• Possess a deep understanding of financial principles, including budgeting, forecasting, financial analysis, and reporting.
• Capable of developing and implementing financial strategies aligned with organizational goals and objectives.
• Aptitude for identifying financial challenges and developing creative solutions to address them while minimizing risks.
• Proficient in analyzing financial data, identifying trends, and making data-driven recommendations to improve financial performance and operational efficiency.
• Familiarity with the healthcare industry, including reimbursement mechanisms, regulatory requirements, and financial challenges unique to medical practices.
• Understanding of relevant laws, regulations, and industry standards governing financial practices in healthcare to ensure compliance and mitigate potential risks.
• Strong verbal and written communication skills to convey complex financial information clearly and effectively to diverse stakeholders, including executives, department heads, and staff members.

Appropriate experience may be substituted for education on an equivalent basis.

Minimum Required Education: Bachelor's degree

Minimum Required Experience: 10 years

Preferred Education: Master's degree

Preferred Experience: Progressively responsible experience in office management with supervisory and budget management responsibilities. Experience in a medical, research, or educational environment.

Physical Requirements

Work requires remaining in a stationary or standing position most of the time.

This job may require moving or traversing to access equipment or materials and communicate from time to time.

This job may require repositioning self to move equipment or materials of moderate weight occasionally.

Work Environment

This job is not at risk for exposure to contaminants, airborne or blood borne pathogens.

This job may experience higher than normal noise levels, but not at an extreme level.

This job is not exposed to radiation or the possibility of animal bites or allergens.

This job works in an indoor, environmentally controlled environment.

Work is not performed outdoors or in extreme weather.

Sensory Acuity

Ability to detect and translate speech or other communication required. May occasionally require the ability to distinguish colors and perceive relative distances between objects.

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Why MCW?

• Outstanding Healthcare Coverage, including but not limited to Health, Vision, and Dental. Along with Flexible Spending options
• 403B Retirement Package
• Competitive Vacation and Paid Holidays offered
• Tuition Reimbursement
• Paid Parental LeaveEmployee & Family Assistance Program (EFAP)
• Pet Insurance
• On campus Fitness Facility, offering onsite classes
• Additional discounted rates on items such as: Select cell phone plans, local fitness facilities, Milwaukee recreation and entertainment etc.

For a brief overview of our benefits see: Benefits Overview

For a full list of positions see: MCW Careers

At MCW all of our endeavors, from our internal operations to our interactions with our partners, are driven by our shared organizational values: Caring - Collaborative - Curiosity - Inclusive - Integrity - Respect. We are committed to fostering an inclusive environment that values diversity in backgrounds, experiences, and perspectives through merit-based processes and in alignment with all applicable laws. We believe that embracing human differences is critical to realize our vision of a healthier world, and we recognize that a healthy and thriving community starts from within. Our values define who we are, what we stand for and how we conduct ourselves at MCW. If you believe in embracing individuality and working together according to these principles to improve health for all, then MCW is the place for you. For more information, please visit our institutional website.

MCW as an Equal Opportunity Employer and Commitment to Non-Discrimination:

The Medical College of Wisconsin (MCW) is an Equal Opportunity Employer. We are committed to fostering an inclusive community of outstanding faculty, staff, and students, as well as ensuring equal educational opportunity, employment, and access to services, programs, and activities, without regard to an individual's race, color, national origin, religion, age, disability, sex, gender identity/expression, sexual orientation, marital status, pregnancy, predisposing genetic characteristic, or military status. Employees, students, applicants or other members of the MCW community (including but not limited to vendors, visitors, and guests) may not be subjected to harassment that is prohibited by law or treated adversely or retaliated against based upon a protected characteristic.