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Vice President, Finance & Data Analytics

Company: Essentia Health
Location: Duluth
Posted on: November 26, 2022

Job Description:

Building Location:Miller Dwan Medical CenterDepartment:47060 Finance Shared ServicesJob Description:Provides guidance, support and educational insight to assist in developing and deploying system strategies and operational decisions to drive improved business performance and enhanced clinical outcomes. Leads the process of discovering, interpreting, and communicating significant patterns in data, answering the questions - "why did this happen?"; "what might happen in the future?"; and "what should we do next?".Guides leadership on the strategy, direction and deployment of financial and clinical decision support, long-range financial planning, labor productivity management, physician compensation, cost accounting and analytic services for the organization. Takes an innovative, forward-looking view supported by high emotional intelligence and change management skills to articulate options and influence decisions in key areas. Responsible for proactively identifying continuous improvement opportunities, analyzing and projecting financial and clinical information and producing management reports, analytics and actionable information for decision-making purposes.Creates and leverages shared service centers of expertise within finance and other functions to build an effective partnership to support leaders in achieving performance targets. Develops staff to create leadership and skillsets necessary to take on roles of increased accountability. Position requires high level of customer service skills to establish and enhance positive relationships with senior executives, patients, coworkers and others.Education Qualifications:Key Responsibilities:

  • Provide analytics - metrics, dashboards and actionable information to support Market and System Dyad Leadership by:
    • Monitoring, assessing and achieving financial and strategic objectives
    • Monitoring, assessing and improving productivity of labor and all other assets
    • Monitoring, assessing and improving cost per stat (e.g., cost per wRVU)
    • Monitoring, assessing and improving total cost of care
    • Monitoring overall financial and clinical performance improvement opportunities and realization of those opportunities
    • Serve as a feedback loop to Market and System Dyad Leadership
    • Effectively deploy and ensure "highest and best use" and high adoption rate of business intelligence tools:
      • Vizient Operational Database ("ODB" aka "Action OI")
      • Strata Strategic Planning, Forecasting, Cost Accounting and Continuous Improvement Tools
      • Leverage technology to drive automation, machine learning, robotics processing automation, predictive analytics and artificial intelligence
      • Develop, administer and coordinate standard processes and procedures to support an integrated, strategic, financial planning cycle for Essentia Health by:
        • Working with Market and System Operations and Finance leaders, in preparing their long-range financial plan that reflects the strategies of the system, market and service lines and are designed to ensure financial goals are achieved
        • Administering internal management accounting reporting including both: Cost Accounting (allocating and analyzing direct and indirect costs, actual vs. target cost variance analysis, etc.) and Financial Planning (developing and monitoring annual revenue/expense targets and forecasts for the purpose of controlling funds and measuring operating results)
        • Preparing dynamic rolling forecast process that monitors the short-term financial direction, incorporates current business impacts and drives financial improvement solutions
        • Executing a performance management and monitoring process that reflects key performance indicators including but not limited to revenue and expense, cost/stat, workforce optimization and access
        • Collaborating with system "expert" leaders to encompass recruitment strategies, facility planning, environmental, legislative and payer impacts and other business/service line growth/market share opportunities into planning processesLeadership Expectations:
          • Lead transformation through effective change management and communication strategies utilizing stakeholder input, educational and training materials and presentations
          • Develop team expertise to lead performance improvement projects and foster a culture of continuous improvement
          • Build and maintain relationships with key stakeholders to understand their requirements for financial data and analysis
            • Develop clear, insightful presentations to system and market leaders based on financial and clinical information addressing strategic impacts and supporting special projects
            • Responsible for the development of staff to create leadership and skillsets necessary to take on roles of increased accountabilityEducational Requirements:
              • Master's Degree in Accounting, Finance, Business Administration or related field requiredRequired Qualifications:
                • Ten or more years of demonstrated experience in providing highly strategic and innovative financial leadership, preferably in a healthcare organizationLicensure/Certification -Qualifications:
                  • CPA preferredFTE:1Shift Rotation:Day Rotation (United States of America)Shift Start Time:8:00 a.m.Shift End Time:5:00 p.m.Weekends:Holidays:NoCall Obligation:NoUnion:Union Posting Deadline:

Keywords: Essentia Health, Duluth , Vice President, Finance & Data Analytics, Accounting, Auditing , Duluth, Minnesota

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