Finance Intern, Hybrid (In-office/home)
Job Description
GENERAL SUMMARY
PRINCIPAL RESPONSIBILITIES AND TASKS _ Corporate Finance is responsible for the management and oversight of UMMS financial services which includes the following divisions: _
1. FINANCIAL REPORTING • Internal financial reporting to Board and Management, and external financial reporting to Bond Rating Agencies, Bond Holders and Debt Markets • Compliance with UMMS financial policies and procedures • Tax compliance and strategy
2. REIMBURSEMENT & REVENUE ADVISORY SERVICES A. Rate Setting • Establish annual HSCRC approved Global Budget Revenue (“GBR”) and corresponding unit rates. Ensure UMMS is receiving maximum allowed GBRs for each hospital. • Ensure approved hospital rates are set to charge to full approved annual GBR. • Negotiate hospital specific GBR improvement opportunities with HSCRC. • Provide annual hospital revenue budgets using estimated approved GBR and unit rates. • Meet all federal and state regulatory reporting requirements. • Monitor & report hospital specific HSCRC quality measure performance. • Ensure hospital case-mix (i.e. measure of patient acuity) is accurate through monitoring case-mix data and supporting clinical documentation improvement efforts.
B. HSCRC STRATEGY • Monitor HSCRC statewide policy goals and help establish UMMS to be a strong voice and influencer of HSCRC philosophy and considerations. • Provide guidance to UMMS leadership to ensure UMMS is positioned for success under HSCRC payment models. • Influence and negotiate HSCRC policies and methodologies for both existing and emerging rate setting and population health models. • Provide proforma analytics for HSCRC proposed policies and methodologies to understand impact to UMMS and ensure methodologies are sound. • Monitor and investigate hospital performance under all HSCRC policies and methodologies and, if needed, develop alternatives to propose to HSCRC.
C. REVENUE INTEGRITY • Promote proactive billing compliance with all federal, state and HSCRC regulations • Improve operational efficiencies and reduce compliance risk through charge capture monitoring, interventions, education and clinical department collaboration • Oversee management of hospital Charge Description Master (“CDM”) • Conduct proactive charge capture assessments, issue identification, and remediation • Support clinical and financial system build, maintenance, testing, and support
3. FINANCIAL & CAPITAL PLANNING • Strategic financial and capital planning and analysis for all components of the System. • Accountable for developing and maintaining the Five Year Financial and Capital Plan • Management, oversight and reporting of capital project budgets and funds • Management of State mandated reporting for Capital
4. UMMS CORPORATE DECISION SUPPORT • Oversight and consolidation of UMMS operating budgets • Management of UMMS budgeting and reporting system • Expense analysis and reporting • UMMS program development analysis
5. CORPORATE TREASURY • Development and implementation of Treasury Strategy • Daily liquidity and Treasury Operations Management • Investment portfolio management • Debt portfolio management and reporting • Investor/ Bond holder relations management • Compliance with debt covenants and disclosures
6. UMMS PAYER RELATIONS & CONTRACTING • Maintain payer relations for all UMMS entities • UMMS payer contracting function including value-based care arrangements • Payer contract management and compliance • Develop and administer system-wide Payer strategy
The following statements are intended to describe the general nature and level of work being performed by people working in an intern role depending on the are being supported. These are not to be construed as an exhaustive list of all job duties to be performed.
1. Assists in the preparation of various reports for reporting organizational activity for use by Finance Shared Services and other UMMS departments, including various statistical, compliance and regulatory reports for outside agencies such as Center for Medicare and Medicaid Services (CMS), Health Services Cost Review Commission (HSCRC), and the Maryland Hospital Association (MHA) in accordance with the requesting agencies standards and requirements. 2. Assists with monitoring and investigating various financial transactions.
3. Assists with the preparation of various surveys and special requests by senior management and/or outside regulatory agencies.
4. Assists departments to provide analytical and technical support regarding volume and revenue analysis, budgeting and expense analysis and regulatory policies and procedures.
5. Develops work plans and coordinates the successful completion of routine, ad hoc, analyses and projects under supervision.
6. Assists with organizing and maintaining major reports and schedules
7. Participates in meetings as requested; includes assisting with meeting scheduling, preparation and follow-up, and distribution of meeting agendas and minutes.
Qualifications
EDUCATION AND EXPERIENCE
1. Enrolled in a Baccalaureate or Master’s degree program with a minimum GPA of 3.0 of a possible 4.0.
2. Two years college is preferred. Healthcare administration, Business, Accounting, Finance or related major is preferred.
KNOWLEDGE, SKILLS AND ABILITIES
1. Ability to judge the level of confidentiality of information / activities involved in and exhibit integrity in use of dissemination of such information.
2. Proficient in Microsoft Excel, Microsoft Word and Outlook.
3. Ability to work in a team environment with changing demands and timelines
4. Highly motivated with a desire to learn
5. Effective verbal and written communication skills are necessary in dealing with a variety of healthcare and finance professionals.
6. Outstanding organization and problem-solving skills.
7. Ability to assess and evaluate financial data via use of computer analysis.
8. Ability to work effectively in a stressful work environment.
Additional Information