Director, Service Line Decision Support

Overview

Our team members are the heart of what makes us better.

At Hackensack Meridian Health we help our patients live better, healthier lives — and we help one another to succeed. With a culture rooted in connection and collaboration, our employees are team members. Here, competitive benefits are just the beginning. It’s also about how we support one another and how we show up for our community.

Together, we keep getting better - advancing our mission to transform healthcare and serve as a leader of positive change.

The Director of Service Line Cost Accounting, often called Director of Decision Support, is a senior healthcare finance leader who manages the cost-accounting system to calculate the profitability of hospital-specific clinical services and physician practices. It bridges clinical operations and executive strategy to drive positive service line financial performance. Responsible for implementing, overseeing, managing staff, and providing leadership in maintaining Hackensack Meridian Health's (HMH) Network-wide Decision Support System (DSS) Enterprise Performance Management (EPM) platform. Engages and supports HMH Service Line operational leaders and associated Business Units by providing analyses and reports. This position is also responsible for developing DSS training programs to ensure maximum utilization of the system.

Responsibilities

A day in the life of a Director of Service Line Cost Accounting at Hackensack Meridian Health includes:

• Provide leadership in decision support by planning, coordinating, and executing cost accounting functions and provide P&L's, financial modeling and analytical templates for all CTS teams and Business Units and other designated areas.
• Provide leadership in supporting Senior CTS team and Business Unit leaders by interacting, engaging, and recommending design analysis and process improvement and cost containment initiatives.
• Conducts and develops analyses of CTS Business units and newly proposed programs and existing programs (financial modeling that includes, but is not limited to, ROI, cash flow and contribution margin analysis) and submits reports and analyses to management
• Provide leadership in overseeing Manager, DSS and other staff positions in Decision Support HPM application/structure/cost accounting.
• Provide leadership in overseeing Decision Support HPM Intermediate Product/Product Charge Description Master structure including additions, price changes and RVU's.
• Provide leadership in overseeing Decision Support HPM cost accounting system, including but not limited to:
  • Maintain product standards and reconciliation process for variable direct labor & supply cost for each cost category on a monthly basis.
  • Develop and maintain product standard up-dating schedule (monthly) and meet with key revenue-generating and ancillary departments to assure accuracy of products and standards.
  • Maintain indirect cost allocation methodology (step-down) including departmental statistics and auditing.
  • Maintain the coordination of up-dating the charge description (monthly) as it relates to product standards and new products.
• Update the Decision Support HPM structure with any changes in the general ledger (PeopleSoft), including but not limited to:
  • Reconciliation of Decision Support HPM to General Ledger Source System (PeopleSoft)
  • Reconciliation of Decision Support HPM to Financial Statements.
  • Reconciliation of Decision Support HPM to Departments.
  • Maintain Chart of Accounts that include adding direct/indirect cost centers, inactivating cost centers and adding accounts.
• Provides recommendations on improvements in source systems to improve accuracy and reduce maintenance effort.
• Works with senior management and department directors to educate and obtain feedback and guidance for system improvement.
• Directs and advices data management resources as needed to improve data quality and value, and utilize their skills to assist in achieving objectives.
• Implements and monitors cost accounting procedures and manages cost and revenue systems and methods for designated areas.
• Analyzes direct and indirect costs and determines proper allocation for recording cost elements; develops and improved methods of calculating and controlling cost.
• Conducts and develops analytical templates to quantify internal operational processes (internal planning) as proposed by management and provide findings and recommendation for improvement.
• Works with clinical leadership to quantify and report on clinical resources utilization including cost and reimbursement and provide findings and recommendations for improvement and for report generation.
• Works with Managed Care department on an ongoing basis to develop analytical templates to determine contract profitability (contract modeling) including, but not limited to, profit & loss and contribution margin analysis.
• Works with Strategic Planning/Business Development area to develop analytical templates and provide analytical support.
• Works with Information Technology and Business Intelligence in the development of standardized reports for the CTS teams.
• Assists Strategic Planning/Business Development area in incorporating new and existing programs and business (forecasting and projections) in the long range plans.
• Adheres to HMH's Organizational and Managerial competencies and standards of behavior.

Qualifications

Education, Knowledge, Skills and Abilities Required:

• Master's degree in Finance, Math or other related field.
• Minimum of 10 of more years in Healthcare Finance.
• Specialized experience in financial/operations analysis, financial systems, and related functions.
• Occasional evening or weekend work may be required.
• Excellent written and verbal communication skills.
• Strong interpersonal skills, including an ability to foster and manage effective relationships with a wide range of colleagues.

Education, Knowledge, Skills and Abilities Preferred:

• Minimum of 10 or more years in Healthcare with a specialization in financial/operations analysis, financial systems, financial systems and related functions.

If you feel that the above description speaks directly to your strengths and capabilities, then please apply today!   

Starting Minimum Rate

Job Posting Disclosure

HMH is committed to pay equity and transparency for our team members. The posted rate of pay in this job posting is a reasonable good faith estimate of the minimum base pay for this role at the time of posting in accordance with the New Jersey Pay Transparency Act and does not reflect the full value of our market-competitive total rewards package. The starting rate of pay is provided for informational purposes only and is not a guarantee of a specific offer. Posted hourly rates may be stated as an annual salary in the offer and posted annual salaries may be stated as an hourly rate in the offer, depending on the level and nature of the job duties and credentials of the candidate. The base compensation determined at the time of the offer may be different than the posted rate of pay based on a number of non-discriminatory factors, including but not limited to: Labor Market Data: Compensation is benchmarked against market data to ensure competitiveness. Experience: Years of relevant work experience. Education and Certifications: Level of education attained, including specialized certifications, credentials, completed apprenticeship programs or advanced training. Skills: Demonstrated proficiency in relevant skills and competencies. Geographic Location: Cost of living and market rates for the specific location. Internal Equity: Compensation is determined in a manner consistent with compensation ranges for similar roles within the organization. Budget and Grant Funding: Departmental budgets and any grant funding associated with the job position may impact the pay that can be offered. Some jobs may also be eligible for performance-based incentives, bonuses, or commissions not reflected in the starting rate. Certain positions may also be eligible for shift differentials for work performed on evening, night, or weekend shifts. In addition to our compensation for full-time and part-time (20+ hours/week) job positions, HMH offers a comprehensive benefits package, including health, dental, vision, paid leave, tuition reimbursement, and retirement benefits.