Department

BSD MED - Administration - Finance

About the Department

The Department of Medicine was the first department created when the medical school began over 110 years ago. It has evolved into the largest department not only in the medical school with over 300 full time faculty but is also the largest department in the University. The main missions of the Department of Medicine, scholarship, discovery, education and outstanding patient care, occur in a setting of multicultural and ethnic diversity. These missions are supported by exceptional faculty and trainees in the department.

The Department of Medicine also takes great pride in providing unparalleled, comprehensive and innovative patient care. The Department's clinical excellence is continually recognized by the highly regarded US News and World Report. Each of the Department's sub-specialty practices are recognized as programs of national, regional, and local distinction for our novel diagnostic and therapeutic patient care offerings.

The Department of Medicine has a long and proud history of research and discovery in the basic, clinical and translational sciences. Currently, the Department of Medicine is among an elite group of medical centers who are leading in the discovery and delivery of personalized medicine. Our impressive pool of talented researchers is renowned for bridging the bench to the bedside, and clinical research evaluations of new drugs and devices. The educational mission of the Department of Medicine is to train exceptional healers and the future leaders in academic medicine.

The Department is home to four top residency programs (Internal Medicine, Emergency Medicine, Dermatology and Medicine-Pediatrics) and twelve fellowship programs, including seven federally-funded training grants. Diversity of house staff and faculty is a key priority in our enterprise, both to cultivate leadership from underrepresented minorities and women and to reflect the ethnic and racial makeup of the patients we serve. Our trainees and faculty are recruited from top medical schools in the country.

Job Summary

Reporting to the Executive Administrator for the Department of Medicine (DOM) with matrix reporting to others, the Financial Strategy, Sr. Analyst will build financial and data analytic capacity by independently learning current financial and related systems, optimizing available data/reports, independently identifying and quantifying opportunities, and developing new processes for improving the financial, productivity, quality, and other KPIs.

Conducts and directs financial research to advance decision-making and communication to critical stakeholders. Prepares statistical reports, analysis, presentations, and financial studies of the Section's financial situation. Devises approaches for improving the general level of strategic and analytical thinking in the Section. Assesses the current financial analytic capacity needed and existing and proposes plans for reducing the gap between the two.

Regularly works with a wide range of faculty and staff at all levels, including restricted and unrestricted financial and grant managers, fellowship program directors, etc., to communicate financial information and to assist with decision making. Designs and executes regular and ad hoc financial analysis, including forecasting, risk analysis, and evaluation of strategic options. Proactively identifies critical areas for attention and analysis.

Responsibilities

Analyze financial statements and other data to conduct opportunity analyses for clinical and other revenue.

Develop and implement data collection and management solutions for new faculty compensation plan implementation to ensure robust application of the plan throughout and across fiscal years.

Support financial reporting and budget cycle by reviewing and auditing section- and department-level data.

Develop and manage a routine, section-by-section process for clinical revenue, research revenue, labor expense, and other budget variance reviews.

Support ongoing provider growth and faculty recruitment by developing, auditing, and reviewing future proformas prior to submission.

Evaluate the accuracy of research and clinical revenue assumptions as modeled in previous recruitment proformas through a robust proforma lookback analysis.

Connect financial reports and financial strategy beyond income statements through expert utilization of UCM Tableau dashboards (template utilization, volume analysis, fill rate, access, etc.) to identify areas of opportunity and then effectively tell the story to diverse stakeholders (clinical, financial, academic).

Serve as one of several subject matter experts within the department for using Oracle, ORBIT, UCPlan, and Smartview capabilities as introduced through ongoing evolution of FST.

Facilitate the ongoing improvement of labor allocations within Oracle, Workday, Insight, A360, and other platforms to ensure more accurate insight into the department financials.

Collaborate with Section Administrators to develop budget-positive and equity-positive business cases for improved throughput in ambulatory, inpatient, and procedural settings.

Liaise with revenue cycle professionals to identify and follow up on revenue-enhancing opportunities.

Support the development and distribution of robust financial, quality, productivity, and other key dashboards to Ambulatory Medical Directors.

Performs professional duties to assist in the development of new financial plans and planning process integrated with budgeting.

Conducts financial research to advance decision-making. Designs and executes regular and ad hoc financial analysis, including forecasting, risk analysis, and evaluation of strategic options.

Works closely with budget administrators to help ensure the integrity of financial analysis and planning.

Prepares statistical reports, analysis, presentations, and financial studies related to the financial situation.

Performs other related work as needed.

Minimum Qualifications

Education:

Minimum requirements include a college or university degree in related field.

Work Experience:

Minimum requirements include knowledge and skills developed through 2-5 years of work experience in a related job discipline.

Certifications:

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Preferred Qualifications

Education:

MHA, MBA, HSM, or MSHM degree.

Experience:

Experience with Academic Medicine.

Experience with data analysis and financial modeling.

Experience with budget management, reporting, and forecasting.

Experience with Oracle systems.
 

Preferred Competencies

Expertise monitoring, analyzing, and forecasting section performance using pillar KPIs such as productivity, financial, efficiency, patient satisfaction, employee engagement, and access.

Expertise with the finance of clinical research, including both federal trials and industry/private sponsored programs.

Strength developing solid financial proformas and then reviewing their accuracy for future proforma development

Computing skills sufficient to effectively use many diverse managerial and administrative computer applications.

Knowledge of accounting principles, including the development of proforma income statements and forecasts as well as a demonstrated history of driving improved financial improvement to both drive programmatic improvement and to proactively remediate variances.

Analytical skills, including the identification of opportunities for volume growth and clinical revenue.

Oral and written communication (including presentation) skills.

Problem-solving skills, especially involving the complexities of healthcare operations.

Attention to detail.

Organizational skills.

Quantitative skills.

Interpersonal skills.

Ability to work independently with a high degree of initiative.

Ability to maintain confidentiality.

Knowledge of spreadsheet and word processing programs.

Knowledge of financial, management and operational functions in the areas of clinical, educational and research.

General knowledge of billing and collection.

Application Documents

Resume (required)

Cover Letter (required)

When applying, the document(s) MUST be uploaded via the My Experience page, in the section titled Application Documents of the application.

Job Family

Financial Management

Role Impact

Individual Contributor

Scheduled Weekly Hours

37.5

Drug Test Required

No

Health Screen Required

No

Motor Vehicle Record Inquiry Required

No

Pay Rate Type

Salary

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FLSA Status

Exempt

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Pay Range

$70,000.00 - $100,000.00

The included pay rate or range represents the University’s good faith estimate of the possible compensation offer for this role at the time of posting.

Benefits Eligible

Yes

The University of Chicago offers a wide range of benefits programs and resources for eligible employees, including health, retirement, and paid time off. Information about the benefit offerings can be found in the Benefits Guidebook.

Posting Statement

The University of Chicago is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, or expression, national or ethnic origin, shared ancestry, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law. For additional information please see the University's Notice of Nondiscrimination.

 

Job seekers in need of a reasonable accommodation to complete the application process should call 773-702-5800 or submit a request via Applicant Inquiry Form.

 

All offers of employment are contingent upon a background check that includes a review of conviction history.  A conviction does not automatically preclude University employment.  Rather, the University considers conviction information on a case-by-case basis and assesses the nature of the offense, the circumstances surrounding it, the proximity in time of the conviction, and its relevance to the position.

 

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