The Director of Clinical Financial Analysis reports to the Vice President of Clinical Finance. The Director of Clinical Finance, is responsible for
Physician Compensation & Benchmarking
* Develops departmental summary information related to provider compensation for faculty.
* The Director oversees the production of compensation and benchmarking tools to aid with executive decision making and compliance for both physicians and APNPs.
* Directs the biannual update of clinical faculty recruitment reports received from departments.
* In addition, the Director should be familiar with Stark laws and work with general counsel as needed to develop physician compensation policies, processes and statements of positions for financial matters in the ambulatory setting.
* This position works collaboratively with other departments, including faculty affairs, legal and internal audit to ensure appropriate plan documentation and internal controls for provider compensation.
* Coordinates the calculation and distribution of annual letters and monthly MD financial reports to designated areas within the hospitals and academic departments.
* The Director should have knowledge and experience in providing data to national benchmarking providers such as MGMA, AMGA, CPSC and AAMC.
* Oversees physician bonus accrual reporting and analysis.
* Provides compensation model development support to departments as needed. May also develop incentive-based compensation models for freestanding physician practices.
* This position meets with individual providers as needed to explain their compensation models and project annual base salary including productivity analysis as related to incentive compensation.
* This position reviews, approves, and distributes various calculations of compensation for quality, incentive, sign on, and patient satisfaction bonuses.
Internal Funds Flow & Institutional Taxes
* This position chairs the monthly work group for funds flow and Medical Directorships and presents recommendations to leadership.
* This position is responsible for oversight of all funds flow within the Medical Center such as recruitment gap funding, hospital funded services, medical directors, GME support and compensation support agreements as well as institutional taxes.
* The Director is responsible for developing goals, objectives, and policy for funds flow within VUMC.
* This position will need to have knowledge and understanding of cost accounting systems in order to develop appropriate modeling for ROI required for funds flow analysis.
* Provide required financial statement packet to the executive funds flow committee with appropriate high level institutional analysis produced with a superior level of ownership, integrity and accuracy.
* This position has budget and forecast responsibility for funds flow intercompany accounts and medical directorships for the VUMC hospitals including compliance.
* Provide funds flow model development support to administration and departments as needed.
* This position is responsible for total professional effort reporting (clinical and non-clinical) and presentation of findings to both departments and VUMC leadership to ensure the enterprise achieves its operational, financial, and strategic goals and initiatives.
* This positions oversees the departmental quarterly reporting of their Clinical Professional Effort Database and should be familiar with the CARTs model.
* Strong analytical skills are needed to make recommendations to both departments and VUMC leadership related to the appropriate mix for productivity and interpretation of the reporting by the departments. This includes recurring quarterly reporting.
* Ongoing RVU integrity oversight. This position chairs a monthly work RVU maintenance committee that oversees policy for all modifiers and other RVU adjustments.
* Works closely with the revenue cycle director and the charge integrity director to insure standardization for internal house codes and inclusion in Epic/eStar.
* Responsible for the policy and oversight for all RVU and professional effort reporting.
Financial Planning & Analysis
* Direct the compensation, physician recruitment & funds flow necessary for accurate and timely financial planning and analysis.
* Provide support and information for the bi-annual forecasting process and for the 5 year plan.
* The position will oversee the development and deployment of monthly analytical and reporting packages for month end close.
* This position works to standardize services, processes, resources and practices related to financial statement reporting, funds flow activity, and compensation compliance.
* Institutional reporting and analysis produced with a superior level of ownership, integrity and accuracy.
* Provide staff direction, development, training and guidance.
* Manage and direct staff through job duties, career development opportunities, growth within their positions, the department and VUMC.
* Set goals, measure, communicate, and support staff in attaining goals. Drive process improvement, efficiency, and effectiveness.
* Serve as a financial point of contact and information source. Provide timely and exceptional customer service while upholding accounting and VUMC company policies, procedures and standards.
Overall, the Director will support the Vice President of Clinical Finance for ad hoc projects, goal setting and attainment, tabulation of data, verification of figures, development of budget proposals and appropriate allocations. Advises Chairs, Administrative Officers, and administration as needed. A working knowledge of the general ledger, payroll systems and accruals is needed.
Key to this position is organization, multi-tasking, teamwork, establishing service standards utilizing a key service dimension for compensation compliance and from knowledge of customer expectations and best practice; and providing leadership to promulgate the mission and the values of VUMC.
Background in clinical finance, provider compensation and compliance, best practices and financial planning & analysis.
Experience in financial and managerial reporting with GAAP, FASB and other internal standards.
Experience in pro forma modeling.
Advanced skills in data manipulation, modeling, PowerPoint, and analytics using Excel and knowledge of Tableau.
Ability to perform well in a high-pressure environment meeting frequent deadlines under extended work hours.
Management experience of 3- 5 years is preferred.
8-10 years' experience working in the health care environment preferably in a large research/teaching faculty practice plan or clinical academic department.
Master's Degree in Accounting, Business Administration, or Healthcare Administration
Academic medical enterprise experience preferred.
Familiarity with EPSI Cost Accounting, Epic/eStar, Business Objects, People Soft, and Hyperion/Smartview is helpful but not required.
Internal Number: 2002568
About Vanderbilt Health
Vanderbilt University Medical Center is home to Vanderbilt University Hospital, The Monroe Carell Jr. Children’s Hospital at Vanderbilt, the Vanderbilt Psychiatric Hospital and the Vanderbilt Stallworth Rehabilitation Hospital. These hospitals experienced more than 61,000 inpatient admissions during fiscal year 2015. Vanderbilt’s adult and pediatric clinics treated nearly 2 million patients during this same period.Vanderbilt University Hospital and the Monroe Carell Jr. Children’s Hospital at Vanderbilt are recognized again this year by U.S. News & World Report’s Best Hospitals as among the nation’s best with 18 nationally ranked specialties. Vanderbilt University Medical Center is world renowned because of the innovation, work ethic and collegiality of its employees. From our health care advances to our compassionate care, Vanderbilt owes its accomplishments and reputation to staff and faculty who bring skill and drive and innovation to the medical center day after day. World-leading academic departments and comprehensive centers of excellence pursue scientific discoveries and transformational educational and clinical advances across the entire spectrum of health and disease.As th...e largest employer in middle Tennessee, we welcome those who are interested in ongoing development in a caring, culturally sensitive and professional atmosphere. Most of us spend so much of our lives at work, we want to be part of maintaining a workplace in which people support one another and encourage reaching for excellence. Many high-achieving employees stay at Vanderbilt because of the professional growth they experience and because of their appreciation of Vanderbilt’s benefits, public events and discussions, athletic opportunities, beautiful setting and, above all, sense of community and purpose.Vanderbilt and its employees share a set of mutual expectations that have been created with productivity, legality, fairness and safety always in mind. We believe that our investment in training and compensating employees multiplies in value when we enable individuals to deliver their best performance for the benefit of us all.