Job Details
Position Summary: The Budget Director is responsible for overseeing all aspects of the hospital's financial planning, budgeting, and reimbursement processes. This role requires a deep understanding of healthcare finance, including reimbursement methodologies, budget development, and financial analysis. This role works closely with senior leadership to develop and manage the hospital's annual budget, monitor financial performance, and ensure compliance with regulatory requirements.
Key Responsibilities:
- Develop and manage the hospital's annual operating and capital budgets, in collaboration with senior leadership and department heads.
- Overseeing reimbursement
- Monitor financial performance against budget and forecast variances, providing analysis and recommendations to senior leadership.
- Oversee the reimbursement process, ensuring accurate and timely submission of claims to third-party payers.
- Manage relationships with third-party payers to maximize reimbursement rates and resolve payment issues.
- Provide financial analysis and support for strategic initiatives, including new program development and service line expansion.
- Ensure compliance with regulatory requirements related to budgeting, reimbursement, and financial reporting.
- Supervise and mentor a team of financial analysts and reimbursement specialists.
Qualifications:
- Bachelor's degree in finance, accounting, or a related field; Master's degree preferred.
- Minimum of 5 years of experience in healthcare finance preferably within a hospital setting, with a focus on budgeting and reimbursement.
- Strong understanding of healthcare reimbursement methodologies, including Medicare, Medicaid, and commercial payers.
- Excellent analytical and financial modeling skills, with the ability to translate complex data into actionable insights.
- Proficiency in financial management software and Microsoft Excel.
- Strong leadership and communication skills, with the ability to collaborate effectively with colleagues at all levels of the organization.
- Knowledge of healthcare regulatory requirements, including CMS regulations and guidelines.