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Position Description: Director of Hospital Financial Operations, Stanford Hospital & Clinics

The Opportunity

This is a unique opportunity for a seasoned Director of Hospital Financial Operations to significantly broaden and advance their career in a newly created and high profile position at Stanford Hospital and Clinic, one of the top hospitals in the US.

Our Client

Our highly prestigious client, Stanford Hospital & Clinics (SHC) is known worldwide for advanced patient care, particularly for the treatment of rare, complex disorders in areas such as cardiac care, cancer treatment, orthopeadics, neurosurgery and organ transplants. Stanford Hospital includes 423 licensed beds. The clinics offer care in more than 100 specialties, including cancer, orthopeadics, surgery and organ transplantation.

Patients come to Stanford from all over the Western United States and the world, often for specialized procedures unavailable elsewhere. In recognition of excellent care, the hospital and physicians consistently rank among the top in the nation in surveys by consumers and health care professionals. In July, 2002, Stanford was named to the Honor Roll of America's Best Hospitals by U.S. News & World Report. The Hospital was ranked #14 out of 100, in 2004.

Management

An overview of top management of the hospital shows an exceptional blend of clinical, operational and business expertise in the field of acute and specialty care and services. Underlying the management team's skill-set is a passionate, deep-seeded and visionary commitment to excellence, innovation and growth. The style of management and the organizational culture of excellence are deeply rooted in teamwork and mutual support.

The level of teamwork and support among the management staff is extraordinarily high and remarkably effective. This group of Managers and Directors, with their collaborative style and complete commitment to the mission, is the heart of the department’s success. It is readily apparent that the management team consistently emphasizes teamwork, individual achievement and making the job fun.

To complement the management team, an individual must be able to blend their individual success into that of the entire team and share in the commitment and the satisfaction of taking care of the healthcare needs of the community.

Position Description

Under the direction of the Vice President of Financial Operations, the Director of Hospital Operations has fiscal responsibility for a billion dollar budget, supporting SHC managements financial planning and business intelligence needs.

Reporting Relationships

Reports to: V.P. of Financial Operations

Staffing

Budget Manager (1 FTE plus 5.4 FTE direct reports)
Decision Support Services and Benchmarking Manager (1 FTE and 2 FTE direct reports)
Sr. Clinical Analyst (1 FTE)
Clinical Analyst (1 FTE)
Frequent Contacts
Senior Management, CXOs, Finance Committee of the Board of Directors, V.P. of Process Excellence, General Accounting, Strategic Planning, Quality, Managed Care, Information Technology, SHC Management, and LPCH Financial Planning and Decision Support.

Personnel Management Responsibilities

Direct management responsibilities for Decision Support Manager, Budget Manager, Sr. Clinical Analyst, and Clinical Analyst (4 FTEs).
Responsible for staff development.
Advises and counsels SHC management and staff in budget procedures and processes.

Financial Planning Management

Manages the analysis of SHC’s results relative to budget and past history. Works closely with the V.P. to identify key issues, trends, and problem areas, communicates findings to senior management, and works through resolution.
Manages and assists in the development of operating budget procedures for the hospital, develops schedules and materials which ensure accurate and timely production of detailed departmental budgets. Align planning with SOM and LPCH.
Work with Senior Leadership to identify growth assumptions, capacity constraints, and financial targets to support SHC’s mission and goals.
Work with contracting to establish pricing strategy and managed care optimization.
Responsibility for activity based costing efforts including development of costing standards, indirect cost allocation, and quality review.
Flex the operating budget to reflect current operations.
Responsibility for Shared and Purchased Services Inter-Entity agreements with LPCH and SU.
Development of costing methodology to recover actual cost based on utilization.
Trains SHC management in budget process and procedures, performance reporting, and fiscal accountability.
Continued process review to improve financial planning process and enhancements to existing tools.
Development of board material.

Benchmarking

Responsible for Solucient Action O-I and UHC clinical benchmarking.
Identify areas for operational improvements and work with Senior and Physician Leadership to set and achieve performance goals based on those practices.

Management Reporting

Develops and produces management reports on a cyclical basis for various levels in the organization. Develops report templates and streamlines the reporting process.
Ensures all financial reporting reconciles to the general ledger, are accurate, consistent and responds to the needs of the organization.
Publish executive dashboards - monitoring key performance indicators.
Responsible for productivity monitoring to ensure appropriate staffing levels.
Perform service line analysis, supporting strategic growth and profitability. Work with Administrative Directors and Physician leadership monitoring clinical, financial, and quality outcomes.
Support V.P. of Process Excellence providing data driven performance improvement opportunities and incorporating into ongoing operational excellence.

Business Planning

Responsible for development of business plans supporting strategic growth.
Incorporate approved plans into financial planning process.
Monitor actual performance to plan and work with business owners to develop necessary remediation plans.

Data Management

Responsible for decision support systems, ensuring data integrity and over-site of system enhancements.

Operational Responsibilities

Integrates department’s services with the hospital’s primary functions by supporting organizational mission, priorities and goals, and by delivering optimal quality health care services.
Coordinates and integrates services within the department and with other departments by continually collaborating with other managers.
Develops and implements policies and procedures that guide and support the provision of services; ensures that policies and procedures are compatible with the function and goals of SHC and which meet the external regulatory and statutory requirements.
Continuously assesses and improves department’s performance based on “customer” needs; directs and participates in improving performance and services which benefit staff and other customers.
Effectively maintains appropriate quality improvement and control programs in response to staff and customer feedback, internal standards of care and external requirements.
Ensures there are adequate ongoing educational programs and training opportunities for all staff in area of responsibility, including orientation of new employees and relevant inservice education sessions.
Recommends space and other resources needed by the department to meet staff needs.
Recommends and participates in selecting outside sources for needed services.
Develops and maintains an effective system of information, records and reports for assigned department (s) utilizing appropriate manual or electronic systems.
Keeps current on professional, managerial, and legislative developments related to areas of responsibility.

Qualifications

Bachelor’s degree in Accounting, Finance or Computer Sciences required.
Five years of progressive experience in a financial planning or decision support department is required.
Healthcare experience strongly preferred.
Knowledge of TSI decision support system is highly desirable.
Knowledge of Solucient Action-OI system is highly desirable.
Previous management experience preferred.
Demonstrated experience working with financial systems, including operations, budgeting and analysis, statistics, and forecasting and modeling.
Demonstrated ability to use sophisticated conceptual, numerical, analytical and statistical skills to solve complex, unique financial problems.
Strong project management skills.
Demonstrated experience teaching and mentoring both novices, as well as advanced system users.
Demonstrated ability to handle multiple assignments and work independently with minimal supervision.
Knowledge of data processing concepts, use of microcomputers and spreadsheet software. Sophisticated computer-modeling skills.
A professional approach to work including a strong sense of responsibility for assigned duties.

Personal Characteristics

The Director of Hospital Financial Operations needs to possess the patience, self-confidence and communication skills necessary to work with the clinical and administrative staff and the Physicians.

First and foremost, this individual needs to be a team player, be a superb communicator and have the style of a diplomat, i.e., be able to work in harmony with other operational entities and to negotiate agreements so each party benefits. It is imperative that he/she be skilled in bringing together the staff functions in a spirit of harmony and with a single-minded purpose.

A hands-on leader who can develop a strategic vision of the department and has the expertise to develop values and goals for a diverse group of constituents will be successful. The successful candidate will have a proven record of accomplishment of strong leadership skills to ensure that the improvement process within the department continues, that priorities are established and the goals are met.

The successful candidate will be a person who possesses a strong work ethic, rejects setbacks and values accomplishments highly. An action-oriented personality that deals with specifics within a broad conceptual framework will be most effective in this position. This individual will have an appropriate sense of urgency to react to situations quickly and decisively.

Compensation

The compensation plan is based on a competitive base salary commensurate with the experience and the demonstrated accomplishments of the successful candidate. It will reflect the opportunity at the hospital. The hospital has an excellent employee benefits package, consisting of medical coverage, a dental plan, life insurance, Defined Benefit Retirement Plan and a 403 b program with employer matching.