Deputy Manager - Financial Planning & Analysis

Role & responsibilities

1

Cost Analysis and Reporting:

Analyze the cost structure of different hospital departments, services, and procedures.

Prepare accurate and timely cost reports, including variance analysis, cost trends, and key performance indicators (KPIs).

Identify cost-saving opportunities and provide recommendations to improve financial efficiency.

2

Cost Allocation and Pricing:

Develop and maintain costing methodologies to allocate expenses to different hospital services and procedures.

Collaborate with relevant stakeholders, such as department heads and physicians, to ensure accurate cost allocation and pricing of services.

3

Financial Planning and Forecasting

Support the FP&A team in the annual budgeting process by providing cost data, insights, and projections.

Collaborate with other finance team members to develop financial models and forecasts related to costs and expenses.

Monitor actual costs against budgeted targets and provide explanations for significant variances.

4

Data Analysis and Insights:

Utilize financial and operational data to identify trends, patterns, and areas of improvement.

Conduct ad-hoc analyses to support decision-making and provide insights to senior management.

Assist in developing dashboards and visualizations to effectively communicate cost-related information to stakeholders.

5

Process Improvement:

Identify process inefficiencies and develop initiatives to streamline cost allocation, reporting, and analysis.

Work closely with cross-functional teams to implement cost-saving initiatives and monitor their effectiveness.

Stay updated with industry best practices and emerging trends in healthcare costing and financial management.

6

Cross-functional Collaboration:

Work closely with other departments, such as Operations, Revenue Cycle, and Supply Chain, to gather relevant data and ensure alignment in cost-related initiatives.

Collaborate with the Finance team on financial planning, reporting, and analysis activities.