Beth Israel Lahey Health · 2 weeks ago
Finance Manager - BIDMC Orthopedics (Full-time)
Boston, MA
Full-time
Onsite
Mid, Senior Level
$130K/yr - $160K/yr
5+ years expBeth Israel Lahey Health is a growing healthcare organization, and they are seeking a Finance Manager for the Department of Orthopedics. The Finance Manager will be responsible for budgeting, financial reporting, and revenue cycle operations, while coordinating with various teams to enhance financial performance.
Elder CareHealth CareHospitalPrimary and Urgent CareProfessional ServicesTraining
Responsibilities
The accurate budgeting and reporting of profit and loss statements and all financial reports for the Departments of Orthopedic Surgery
Revenue cycle operations and reporting
Working with individual service lines and physicians to analyze divisional profit and loss statements and improve performance at an individual practice level
The proper preparation of physician compensation and allocation models; Measures operational performance of the divisions and identifies opportunities and assists in the implementation of any enhancements
Internal control processes. Coordinates and manages financial information between HMFP and BIDMC budget and finance departments
Coordinating financial planning and analyses for program and business development activities, within clinical, research and academic areas
Coordinating finance and operational teams to accomplish the above
Overall responsibility for the timely preparation of annual financial budget, including revenue, operating expense, capital budget, and cash flow plans for the department
Ensure that finance functions operate to meet monthly and quarterly reporting requirements needed to support the practices and HMFP and BIDMC fiscal reporting requirements. Provides oversight and direction on a business unit, service line, and physician level basis. Responsible for the monthly variance reporting and re-forecasting of the groups
Work with senior leadership to coordinate information requests, problem identification, and problem resolution, to help ensure that departmental billing operation complies with all established policies and procedures
Overall responsibility for revenue cycle operations within the Department. Create, manage and provide continual feedback to Department Chairman, CAO, and Practice Management to assure optimal revenue cycle performance. Ensures that all information provided to revenue operations is accurate and timely to meet obligations. Interacts with HMFP and AR company on a regular basis, and identifies opportunities and mechanisms to improve financial outcomes as appropriate. Update faculty on any contracting issues relevant to their practices
Develop physician and site level budgets based on overall plans of the organization
Develop the expense allocation methodology
Perform accounting activities in conjunction with HMFP and BIDMC finance departments to ensure accurate monthly application of revenue and expense. Complete, as needed, all transactions to ensure appropriate physician compensation
With CAO direction, preparing business plans and financial impact analysis for new programs, change in physicians, staff, etc. Identifies risks and opportunities, understanding base assumptions for strategic growth of the departments
Responsible for comparative analysis for department and physician level multi-year plans
Oversee all fiscal operations in the departments. Manage department’s financial analyst and accounts payable staff. Responsible for establishing and monitoring individual goals, conducting performance evaluations and professional development plans for staff
Translate information from budget, accounting, and analytic processes into effective communication tools for multiple audiences including senior leadership and physicians
Responsible for financial analysis and recommendations for cost effective operations and improvements
Manage revenue control and cash reconciliation
Establish and documents departmental policies and procedures for financial, compensation, reimbursement, and administrative issues
Perform all other duties as assigned
Qualification
Required
Bachelor's Degree
Five to seven years of experience in healthcare and business environment
Previous experience with budgeting, financial analysis and modeling, and reimbursement
Previous financial operations management required
Exhibits exceptional judgment and discretion in interacting with physicians and senior management on sensitive political and confidential issues
Must be extremely well organized to handle multiple tasks simultaneously under sometimes tight deadlines
Excellent communication skills to be able to communicate with a wide audience (e.g. physicians, senior administrators, patients, senior finance staff) on complex problems
Ability to negotiate and work with a variety of internal and external entities
Ability to analyze a diverse set of information and to prepare and execute an action plan of problem identification and resolution
Strong information systems familiarity essential
Excellent problem solving skills
Ability to work extremely independently
Ability to handle sensitive and confidential patient and employee information
Preferred
Masters degree preferred
Benefits
Beth Israel Lahey Health requires that all staff be vaccinated against influenza (flu) as a condition of employment.
Company
Beth Israel Lahey Health
Beth Israel Lahey Health Center offers patient care, urgent care, assisted living, and research and education services.
10001+ employees
Funding
Current Stage
Late StageLeadership Team
Robert Fields
Chief Clinical Officer and Executive Vice President
Recent News
2026-01-25
Boston Globe
2025-11-24
Company data provided by crunchbase