Practice Financial Unit Director - Unit ; Department of Medicine

Summary

Responsible for the financial administration, business operations, and reporting activities within the designated practice unit. Through partnership with the Chair and Unit Executive Administrator, work to ensure that the Clinical Department within the Unit has adequate resources and a conducive financial framework for recruiting and retaining the highest quality faculty and staff. Works under the direction of the Associate Vice President of Finance for the Medical College Physician Practice to establish support functions, reporting mechanisms, and workflows that facilitate effective management of financial information and smooth workflow execution.

Accountable for fostering and maintaining an environment conducive to peak performance in all areas of operation. Work closely with Practice Leaders, Clinical Department Leaders, MCW Leaders and other administrators and directors to ensure collaboration and alignment of goals within the Practice.

• Manage the Clinical Unit's funds flow model and understand the relationship between the practice, affiliates, MCW and departmental needs to facilitate enterprise initiatives.
• Lead standardization and implementation of practice-wide business processes and financial operations reporting within the assigned unit.
• Develop appropriate control mechanisms and timely financial reporting to provide a basis for sound financial decision-making.
• Develop and monitor the departmental budget and strategic plans, which comprise a broad range of revenue sources. Participate in discussions with representatives of the Medical College and affiliate partners as needed. Perform and lead operational and financial reviews for Clinical Unit.
• Analyze, develop, design, and implement administrative systems to effectively manage billing and reimbursement, purchasing, and materials management.
• Ensure compliance with MCP and MCW policies and procedures.
• Play a key role in linking the activities of Froedtert Health and Medical College of Wisconsin's planning teams with Clinical Unit workforce plans, business plans, benchmarking, annual budgets and long-range financial plans.
• Direct and lead the Unit's financial analysis relative to provider workforce planning for Medical College Physicians and F&M CW Community Physicians. Monitor the success of ramp-up and support needs.
• Provide support/input into business development planning and market-centric strategic financial planning.
• Supervises staff activity, including hiring, mentoring, coaching, delegation of duties, and performance reviews. Manage the growth of staff in their appropriate roles.
• Oversee billing process collaborate with faculty practice billing in planning, implementing, and evaluating administrative systems associated with patient care, marketing, and affiliate contracts. Monitor the billing and collection performance for the Clinical Unit Department
• Ensure that Unit financial activities and policies are efficient and in compliance with the Unit and MCW policies and procedures. Serve as a resource on these policies and procedures to staff and faculty.
• Manage and support a team overseeing the budget development and financial administration of grants.
• Follow the MCW code of conduct, all laws, regulations, and policies and ensure legal compliance with governmental and grant requirements.
• Other duties as assigned.

• Understanding of financial and human resources related issues.
• Excellent oral and written communication skills.
• Strong critical thinking, problem solving and attentiveness to detail required.
• Strong computer skills.
• Knowledge of medical terminology preferred.
• Possess a deep understanding of financial principles, including budgeting, forecasting, financial analysis, and reporting.
• Capable of developing and implementing financial strategies aligned with organizational goals and objectives.
• Aptitude for identifying financial challenges and developing creative solutions to address them while minimizing risks.
• Proficient in analyzing financial data, identifying trends, and making data-driven recommendations to improve financial performance and operational efficiency.
• Familiarity with the healthcare industry, including reimbursement mechanisms, regulatory requirements, and financial challenges unique to medical practices.
• Understanding of relevant laws, regulations, and industry standards governing financial practices in healthcare to ensure compliance and mitigate potential risks.
• Strong verbal and written…