Job Description

Primary Responsibilities

The following statements describe the general nature and level of work performed by individuals in this role. They are not an exhaustive list of all duties.

• Collect, analyze, and interpret financial data related to medical equipment acquisition, maintenance, and lifecycle management.
• Develop and maintain financial models using data from financial systems, maintenance logs, and vendor contracts.
• Conduct variance analysis to assess budget performance and identify key trends and cost drivers.
• Prepare monthly, quarterly, and annual financial reports, highlighting insights on cost per procedure, equipment utilization, and maintenance expenditures.
• Maintain real-time financial dashboards to ensure financial insights are accessible to leadership and stakeholders.
• Lead the annual budgeting process for the Clinical Engineering Department in alignment with organizational goals.
• Develop comprehensive budget proposals, including justifications for capital expenditures and operational costs.
• Collaborate with the Finance Department to integrate clinical engineering budgets into the broader organizational financial strategy.
• Utilize predictive analytics for dynamic financial forecasting that accounts for technological changes and operational shifts.
• Proactively identify financial risks and opportunities for continuous improvement.
• Monitor and adjust forecasts based on actual performance and emerging trends.
• Conduct detailed cost-benefit analyses for medical equipment and technology investments.
• Identify opportunities to enhance cost efficiency without compromising patient safety or service quality.
• Assess total cost of ownership (TCO) for medical equipment, including procurement, maintenance, downtime, and lifespan.
• Recommend process improvements to increase financial efficiency and operational effectiveness.
• Implement cost-control strategies, such as preventative maintenance programs, to extend equipment life and reduce repair costs.
• Review and analyze vendor contracts to ensure cost-effective terms and quality service delivery.
• Collaborate with Procurement and Legal teams to negotiate favorable contract terms.
• Monitor vendor performance and contract compliance to ensure alignment with financial and service expectations.
• Provide financial insights during vendor evaluations and recommend contractual adjustments based on performance data.
• Partner with Clinical Engineering leadership, Finance, Procurement, and other departments to align financial strategies with institutional priorities.
• Participate in cross-functional initiatives aimed at improving operational efficiency and cost management.
• Provide financial training and guidance to Clinical Engineering staff to build departmental financial literacy.
• Effectively communicate financial data and strategies to non-financial stakeholders through reports and presentations.
• Perform other duties as assigned.

Qualifications

Education & Experience – Required

• Bachelor’s degree in Finance, Accounting, Healthcare Management, Biomedical Engineering, or a related field, or an equivalent combination of education and experience.
• 5+ years of experience in financial analysis, budgeting, and forecasting—preferably in a healthcare or clinical engineering environment.
• Proven track record of managing budgets, conducting financial analyses, and building financial models in complex organizations.

Education & Experience – Preferred

• Not applicable

Knowledge, Skills & Abilities

• Familiarity with clinical engineering operations and medical equipment lifecycle management.
• Proficiency in financial software (e.g., INFOR, SAP, PeopleSoft).
• Expertise in financial modeling, cost-benefit analysis, and return on investment (ROI) calculations.
• Working knowledge of healthcare financial regulations, reimbursement models, and compliance standards.
• Strong understanding of financial principles and the operational aspects of managing healthcare technology.
• Ability to present and explain complex financial data to support informed decision-making.
• Advanced skills in analysis, planning, organization, and problem-solving.
• Strong ability to manage multiple initiatives and adapt to changing priorities.
• Excellent communication skills, with the ability to clearly present findings and recommendations to all levels of the organization.
• Proven ability to work independently and collaboratively in a fast-paced, dynamic environment.
• Strong attention to detail with the ability to validate and compare complex data.
• Advanced proficiency in Microsoft Office Suite, particularly Excel, Word, and PowerPoint.
• Excellent verbal, written, and interpersonal communication skills.

Additional Information

All your information will be kept confidential according to EEO guidelines.

Compensation:

Pay Range: $31.194-$38.126

Other Compensation (if applicable):

Review the 2024-2025 UMMS Benefits Guide