General Summary
A college intern working in the field of healthcare finance helps in the development and implementation of UMMS policies and practices in a designated area such as for reimbursement regulatory policy billing compliance financial management budgeting accounting etc. By getting handson experience by working under a finance leader he / she is able to participate in healthcare financial operations and learn to follow the impact of and respond to financial trends. The intern will have opportunities to practically apply their theoretical knowledge of financial operations to their day to day assigned work at UMMS.
Under direct supervision the college intern works directly with various Finance Shared Services staff to develop analyze report and interpret financial and statistical information to assist management in the formation implementation and execution of the organizations business plans.
The finance internship is a mutually beneficial arrangement whereby the intern learns to apply classroom learning to a live business environment while UMMS leadership has an opportunity to observe and develop the interns skills and abilities. The internship should be viewed by the intern as an opportunity that could result in fulltime employment in the future and accordingly the intern is expected to exhibit professionalism be inquisitive and develop effective working relationships with UMMS staff and leadership.
Principal Responsibilities and Tasks
Corporate Finance is responsible for the management and oversight of UMMS financial services which includes the following divisions :
- 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
Reimbursement & Revenue Advisory Services
Rate SettingEstablish 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 casemix (i.e. measure of patient acuity) is accurate through monitoring casemix data and supporting clinical documentation improvement efforts.HSCRC StrategyMonitor 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.Revenue IntegrityPromote proactive billing compliance with all federal state and HSCRC regulationsImprove operational efficiencies and reduce compliance risk through charge capture monitoring interventions education and clinical department collaborationOversee management of hospital Charge Description Master (CDM)Conduct proactive charge capture assessments issue identification and remediationSupport clinical and financial system build maintenance testing and supportFinancial & Capital PlanningStrategic financial and capital planning and analysis for all components of the System.Accountable for developing and maintaining the Five Year Financial and Capital PlanManagement oversight and reporting of capital project budgets and fundsManagement of State mandated reporting for CapitalUMMS Corporate Decision SupportOversight and consolidation of UMMS operating budgetsManagement of UMMS budgeting and reporting systemExpense analysis and reportingUMMS program development analysisCorporate TreasuryDevelopment and implementation of Treasury StrategyDaily liquidity and Treasury Operations ManagementInvestment portfolio managementDebt portfolio management and reportingInvestor / Bond holder relations managementCompliance with debt covenants and disclosuresUMMS Payer Relations & ContractingMaintain payer relations for all UMMS entitiesUMMS payer contracting function including valuebased care arrangementsPayer contract management and complianceDevelop and administer systemwide Payer strategyThe 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.
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.Assists with monitoring and investigating various financial transactions.Assists with the preparation of various surveys and special requests by senior management and / or outside regulatory agencies.Assists departments to provide analytical and technical support regarding volume and revenue analysis budgeting and expense analysis and regulatory policies and procedures.Develops work plans and coordinates the successful completion of routine ad hoc analyses and projects under supervision.Assists with organizing and maintaining major reports and schedulesParticipates in meetings as requested; includes assisting with meeting scheduling preparation and followup and distribution of meeting agendas and minutes.Qualifications :
Education and Experience
Enrolled in a Baccalaureate or Masters degree program with a minimum GPA of 3.0 of a possible 4.0.Two years college is preferred. Healthcare administration Business Accounting Finance or related major is preferred.Knowledge Skills and Abilities
Ability to judge the level of confidentiality of information / activities involved in and exhibit integrity in use of dissemination of such information.Proficient in Microsoft Excel Microsoft Word and Outlook.Ability to work in a team environment with changing demands and timelinesHighly motivated with a desire to learnEffective verbal and written communication skills are necessary in dealing with a variety of healthcare and finance professionals.Outstanding organization and problemsolving skills.Ability to assess and evaluate financial data via use of computer analysis.Ability to work effectively in a stressful work environmentAdditional Information :
All your information will be kept confidential according to EEO guidelines.
Compensation
Pay Range : Flat Rate : $17Other Compensation (if applicable) :Review theUMMS Benefits GuideRemote Work : Employment Type :
Parttime
Salary : $17
