Director, RUMG Finance

Job Description

Location: Chicago, IL

Hospital: RUSH University Medical Center

Department: RUMG Admin Finance

Work Type: Full Time (Total FTE between 0.9 and 1.0)

Shift: Shift 1

Work Schedule: 8 Hr (8:00:00 AM - 5:00:00 PM)

Summary:

The Director of Finance in Rush University Medical Group (RUMG) is a key leadership position with the primary responsibility to support leadership with the planning, implementation, and management of strategic and financial initiatives related to provider compensation (MD, PhD, and APP) and clinical incentives in a complex health system environment that spans both academic and community-based settings. . Reporting to the Associate Vice President of Finance in RUMG, this position requires close collaboration with Human Resources; Faculty Recruitment, physician and administrative leaders from the Clinical and Basic Science departments; and health system leadership across the Rush System for Health. . The individual who holds this position exemplifies the Rush mission, vision, and values and acts in accordance with Rush policies and procedures.

Job Summary :

The Director of Faculty Compensation and Clinical Incentives is a key leadership position responsible for supporting leadership with the planning, implementation, and management of strategic andfinancial initiatives related to faculty compensation and clinical incentives in a complex environment of an Academic Practice Plan.Reporting to the Chief Financial Officer (CFO) of RUMG, this position requires close collaboration with other members of the RUMG team, physician and administrative leaders from the Clinical and Basic Science departments, and across the health system such as Rush University Hospital, Corporate Finance, Faculty Recruitment, Human Resources, Revenue Cycle, Rush Health, and other related departments.The individual who holds this position exemplifies the Rush mission, vision, and values and acts in accordance with Rush policies and procedures.

Responsibilities:

• Responsible for the design and administration of all Rush System for Health provider compensation that spans across Rush University Medical Center, Rush Oak Park Hospital, Rush Copley Medical Center and all other offsite ambulatory locations.

• Ensures provider compensation models are effective, well understood, and compliant with all state and federal regulatory requirements.

• Serves as the lead technical expert on system-wide provider compensation arrangements.

• Ensures that provider compensation models are consistent with Fair Market Value (FMV) guidelines (HR Compensation is responsible for compliance), internally equitable and the models perform properly and consistently.

• Provides assistance with provider compensation-related matters and develops external vendor relationships as needed to support the design of compensation programs.

• Serves as the subject matter expert for Rush University Medical College faculty.

• Prepares feasibility studies on provider compensation plan implementation and evaluations including recommendations as to the financial feasibility of projects.

• Develops and maintains comprehensive analytical and benchmarking tools.

• Works with departments, service lines and other business units to create incentive goals to improve profit margin, patient satisfaction, access, insurance-based program incentives, research funding coverage and teaching scores.

• In collaboration with Human Resources,recommends base salaries as benchmarked and consistent with compensation philosophy and set with a competitive fair market value (FMV) analysis.

• Oversees development of monthly reports monitoring clinical faculty wRVU performance.

• Responsible for communications and education sessions for department, divisional, and sectional administrative leadership regarding all compensation plan changes.

• Makes recommendations and analyze data to support annual budget production and processes within different RUMC operating entities.

• Monthly financial assessment of goals attained to inform AVP, RUMG and CFBO, University of necessary recording of liability for projected incentive payouts as well as long term projections.

• Other projects as assigned by the AVP, Finance, RUMG.

Job Responsibilities:

• Responsible for the design and administration of all Rush University Medical College faculty compensation programs (more than 1,100 participants) with an estimated budget of more than $250 million.

• Ensures physician compensation models are effective, well understood, and compliant with all state and federal regulatory requirements.

• Responsible for overseeing the financial reporting and budgeting for Graduate Medical Education (total budget $75M) and Faculty hospital and clinical administration (total budget of $12 million).

• Serves as the lead technical expert on system-wide physician compensation arrangements.

• Ensures that physician compensation models are consistent with Fair Market Value (FMV) guidelines (HR Compensation is responsible for compliance), internally equitable and the models perform properly and consistently.

• Provides assistance with physician compensation-related matters and develops external vendor relationships as needed to support the design of physician compensation programs.

• Serves as the subject matter expert for Rush University Medical College faculty.

• Prepares feasibility studies on physician compensation plan implementation and evaluations including recommendations as to the financial feasibility of projects.

• Develops and maintains comprehensive analytical and benchmarking tools.

• Works with departments, service lines and other business units to create incentive goals to improve profit margin, patient satisfaction, access, insurance-based program incentives, research funding coverage and teaching scores.

• Recommends base salaries as benchmarked and consistent with compensation philosophy and set with a competitive fair market value (FMV) analysis.

• Oversees development of department-specific monthly reports monitoring clinical faculty wRVU performance.

• Responsible for communications and education sessions for department, divisional, and sectional administrative leadership regarding all compensation plan changes.

• Ensures compliance with applicable state and federal regulatory requirements.

·Provides oversight regarding GME financial performance, budget planning, and forecasting.

·Assists in the development of GME funding models and completes the modeling.

• Makes recommendations and analyze data to support annual budget production and processes within different RUMC operating entities.

• Monthly financial assessment of goals attained to inform CFO, RUMG and CFBO, University of necessary recording of liability for projected incentive payouts as well as longer term projections.

Other information:

Required Job Qualifications

• Bachelor's degree in Accounting, Business, Economics, Health Administration, Math, Statistics, or a related field required.

• At least seven years of progressive experience in healthcare or academic financial administration required.

• At least five years of experience administering physician and other provider compensation plans.

• At least two years of people management experience required.

• Knowledge of medical professional billing including an understanding of CPT codes with wRVUs and billing systems and processes required.

• Ability to communicate and collaborate effectively with all levels within the organization.

• Exceptional analytical and problem-solving skills with accuracy and attention to detail.

• Ability to manage multiple responsibilities while prioritizing and meeting tight deadlines.

• Ability to work autonomously and make independent decisions.

• Proficiency with the Microsoft Office Suite.

• Excellent written and verbal communication skills.

• Customer-service focused and ability to interact professionally with the Board, senior leadership, and faculty members.

• Ability to maintain strict confidentiality of information.

Preferred Job Qualifications:

• Master's degree in Business, Healthcare Administration, or a related field preferred.

• Experience in a large, multi-specialty physician group or academic medical center preferred.

• At least seven years of management experience involving management of staff, budgets, and physician compensation administration preferred.

• Prior experience using AAMC, Sullivan Cotter, and MGMA physician compensation surveys preferred.

• Prior experience with EPIC preferred.

Required Job Qualifications:

·Bachelor's degree in Accounting, Business, Economics, Health Administration, Math, Statistics, or a related field required.

• At least eight years of progressive experience in healthcare or academic financial administration required.

• At least five years of experience administering physician and other provider compensation plans.

• At least two years of people management experience required.

• Knowledge of medical professional billing including an understanding of CPT codes with RVUs and billing systems and processes required.

• Ability to communicate and collaborate effectively with all levels within the organization.

• Exceptional analytical and problem-solving skills with accuracy and attention to detail.

• Ability to manage multiple responsibilities while prioritizing and meeting tight deadlines.

• Ability to work autonomously and make independent decisions.

• Proficiency with the Microsoft Office Suite.

• Excellent written and verbal communication skills.

• Customer-service focused and ability to interact professionally with the Board, senior leadership, and faculty members.

• Ability to maintain strict confidentiality of information.

Preferred Job Qualifications:

• Master's degree in Business, Healthcare Administration, or a related field preferred.

• Experience in a large, multi-specialty physician group or academic medical center preferred.

• At least seven years of management experience involving management of staff, budgets, and physician compensation administration preferred.

• Prior experience using AAMC, Sullivan Cotter, and MGMA physician compensation surveys preferred.

• Prior experience with EPIC preferred.

Rush is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.

Position Director, RUMG Finance

Location US:IL:Chicago

Req ID 6815