POSITION SUMMARY:
Under direct supervision of the Executive Director – Finance Shared Services and in coordination with BMCHS GME leadership, the GME Finance Director is responsible for all activities of the GME Finance office, as it pertains to the financial administrative functions related to Boston Medical Center Health System’s (BMCHS) Graduate Medical Education (GME) programs. This role will provide financial leadership to the BMC-Boston, BMC-Brighton (formerly SEMC), and BMC-South (formerly GSMC) GME offices. The Director BMCHS GME Finance will utilize a thorough knowledge of the GME department and specific training programs to develop short- and long-term strategic plans to meet organizational objectives and provide efficient and high-quality financial services.
This position will participate in financial planning and program compliance with accreditation requirements (ACGME and others), GME department schedules, and activities. The Director BMCHS GME Finance will also establish and oversee the maintenance and improvement of required filing and record systems. The Director supervises the Senior Manager BMC GME Finance and a team of Finance Analysts. They will serve as a resource and advisor to training program directors & coordinators, as well as other BMCHS leaders, on any GME Finance functions. This role oversees the preparation and submission of relevant financial materials including annual GME budget, IRIS reporting documents, affiliate contracts and billing, forecasting, and financial analysis of program growth proposals.
Position: BMCHS GME Finance Director
Department: Financial Planning
Schedule: Full Time
ESSENTIAL RESPONSIBILITIES / DUTIES:
In collaboration with Designated Institution Officials (DIOs) and Finance leaders, translates hospital mission and goals into strategic and operational policy for GME finance.
Responsible for improving the operational effectiveness within the GME Finance function to ensure that high quality financial services are delivered in accordance with applicable policies, procedures, and professional standards.
Works closely with BMCHS GME leadership, as well as with institutional GME offices, to standardize processes, facilitate efficiencies and leverage existing structures to streamline work and develop forecasts and models.
Analyzes current operations to identify and evaluate strengths and weaknesses and develops strategies and plans for adapting to the changing landscape of GME funding, accreditation and oversight.
Develops and implements SOPs for billing, including the VA system, as well as oversees and supports the process for IRIS reporting at hospital sites.
Plays an integral role in financial modeling, including assessing the financial impact of proposals involved in union bargaining.
Oversees the budgeting, tracking and reporting of the financial arrangements of the GME programs, along with the third-party billing contracts associated with residents’ education at non-BMC entities (e.g. VA, Community Health Centers, etc.).
Partner with BMCHS Reimbursement on any regulatory and financial reporting associated with the GME and IME revenue streams tied to our academic training programs and ensure compliance with Medicare and other state or institutional regulations.
Oversees the strategic assessment of existing CMS cap space and ensures that institutions execute on opportunities to apply for additional cap space. Develops strategic plan, in partnership with others on Reimbursement Team and GME Offices, to leverage cap space across system.
Partners with Employee & Labor Relations supporting contract negotiations and development of annual budget through consulting with the Associate CMO of GME and Finance leadership.
Provides leadership and supervision to GME Finance team supporting the BMCHS system.
Serves as key advisor to hospital executives on all matters GME finance and program development and is responsible for monthly and quarterly performance reviews of the GME program, including variance explanations and overall financial health of the program (e.g. A/R)
(The above statements in this job description are intended to depict the general nature and level of work assigned to the employee(s) in this job. The above is not intended to represent an exhaustive list of accountable duties and responsibilities required).
JOB REQUIREMENTS
REQUIRED EDUCATION AND EXPERIENCE:
Bachelor’s Degree in Administration, Finance, or Accounting; 8+ years’ experience in healthcare finance setting; and at least 3 years’ experience in GME finance function; or equivalent combination of education and experience, required
PREFERRED EDUCATION AND EXPERIENCE:
MBA/CPA preferred.
Infor or SAP experience a plus.
KNOWLEDGE, SKILLS & ABILITIES (KSAs):
Strong leadership skills, demonstrated track record of management of personnel and fiscal resources.
Requires strong understanding of GME financial landscape and compliance requirements.
Requires a comprehensive knowledge of accounting, finance, general accounting practices and business administration.
Strong interpersonal skills and ability to work collaboratively across various business units' hierarchy and functions.
Capable of long-range program planning that involves complex decision making tasks.
Ability to assess needs quickly and identify logical solutions.
High level of analytical, quantitative and problem-solving skills in order to function as business manager and to prepare financial proposals, budget plans, reports and analysis in support of programs and activities.
Ability to anticipate challenges in projects and plan appropriate responses; ability to perform and lead effectively in stressful situations and to solve problems as they occur.
Excellent written and verbal communication skills.
Strong Microsoft Excel, Word and PowerPoint.
Compensation Range:
$0.00- $0.00This range offers an estimate based on the minimum job qualifications. However, our approach to determining base pay is comprehensive, and a broad range of factors is considered when making an offer. This includes education, experience, skills, and certifications/licensures as they directly relate to position requirements; as well as business/organizational needs, internal equity, and market-competitiveness. In addition, BMCHS offers generous total compensation that includes, but is not limited to, benefits (medical, dental, vision, pharmacy), discretionary annual bonuses and merit increases, Flexible Spending Accounts, 403(b) savings matches, paid time off, career advancement opportunities, and resources to support employee and family well-being.
NOTE: This range is based on Boston-area data, and is subject to modification based on geographic location.
Equal Opportunity Employer/Disabled/Veterans
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