Business Operations Manager

Stanford Medicine Children's Health•Palo Alto, CA

2d•$63 - $81•Onsite

About The Position

The Business Operations Manager oversees financial and operational functions, ensuring strategic alignment across departments. Key responsibilities include budget management, contract negotiation, and collaboration with Finance and Strategic Planning. The role focuses on enhancing financial performance, optimizing productivity, resource management, and implementing quality improvement programs. Provides people leadership by fostering a positive work environment, setting performance expectations, and supporting professional development. Responsible for supervisory functions assigned staff including interviewing, hiring, terminating, scheduling, evaluating performance, reviewing quality, reconciling timecards, educating, coaching, developing staff, and monitoring activities to ensure performance standards are achieved. The Manager also supports project execution within assigned departments and service areas to achieve strategic goals and ensure timely completion.

Requirements

Master's degree in a work-related field/discipline from an accredited college or university.
Five (5) years’ experience of progressively responsible and directly related work experience.
Knowledge of financial systems, including operations, budgeting and analysis, statistics, and forecasting and modeling.
Knowledge of principles and practices of organization, administration, fiscal and personnel management.
Knowledge of financial and operational management information systems.
Knowledge of local, state and federal regulatory requirement related to the functional area.
Ability to develop and administer departmental budgets.
Ability to develop, write, analyze and present business plans, proposals, contracts and financial analysis reports.
Ability to use sophisticated conceptual, numerical, analytical and statistical skills to solve complex, unique financial problems.
Ability to foster effective working relationships and build consensus.
Ability to mediate and resolve complex problems and issues.
Ability to develop long-range business plans and strategy.
Ability to interview, hire/fire, and performance manage direct reports.

Responsibilities

Works closely with Director of Business Operations to ensure adherence to budget. Collaborates to improve efficiency and cost-effectiveness of operations. Oversees expenditures to ensure appropriate use of department funds.
Works in collaboration with the Department/Service Line Director in development, specifications, requirements and financial models for contracted services with outside parties for products and services.
Leads the budgeting process for assigned departments and service areas to ensure financial integrity, resource allocation, and improved cost-efficiency. This includes variable staffing model RVU allocation, cost-accounting methodologies, and charge capture processes.
Oversees and leads all contractual agreements related to assigned departments and service areas, securing terms that align with organizational goals and regulatory standards.
In conjunction with Strategic Planning and Business Development, conducts market, financial, demographic and clinical utilization research from various software resources to support business development initiatives and strategic planning projects.
Responsible for managing the day-to-day financial and business operational activities of assigned departments/service lines. Partners closely with Financial Planning, Strategic Planning and Business Development, Decision Support Services, Purchasing and Managed Care Contracting. Responsibilities include working with Service Line Director(s) on budgeting, forecasting, accounting, long range planning, pricing, negotiation, generation of contracts with outside parties, and submission of patient charges for services.
Works closely with senior management to ensure adherence to budgets. Responsible for developing and implementing new business practices that will enhance financial performance.
Facilitates the development and implementation of strategic initiatives focused on improving the profitability and market share of the department(s)/service line(s).
Provides personnel management, management of organizational systems and workflow, continuous quality improvement, and developing departmental goals and programs for assigned areas of responsibility.
Responsible for working with leadership to ensure the accurate development of operating and capital budgets of the department. Ensures that budgets are in compliance with standards and guidelines set by Financial Planning department.
Develops and maintains databases on cost and profitability indicators (dashboards) to track and support program planning and assessment processes.
Responsible for supervisory functions for assigned staff including interviewing, hiring, terminating, scheduling, evaluating performance, reviewing quality, reconciling timecards, educating, coaching, developing staff, and monitoring activities to ensure performance standards are achieved.
Collaborates with supervisory staff to develop, maintain and evaluate a comprehensive continuous quality improvement program that is in compliance with department as well as the hospital at large.
Communicates effectively to maintain positive working relationships and achieve desired outcomes.
Cultivates a positive and inclusive work culture by actively promoting diversity, equity, and teamwork among staff.
Provides ongoing mentorship and support to direct reports, encouraging professional growth and development.
Sets clear performance expectations and goals for team members, conducting regular one-one-one meetings to provide constructive feedback and performance reviews.
Recognizes and rewards outstanding performance, while also addressing and managing underperformance through appropriate coaching and development.
Spearheads the development and monitoring of productivity metrics, implementing strategies to optimize efficiency and service delivery within assigned departments and service areas.
Leads efforts to synchronize organizational strategies, systems, and initiatives—including timekeeping, ERP, and more—with the operational goals of assigned departments and service areas, ensuring cohesive integration and optimized performance.
Provides guidance, resources, and support for the successful execution of projects within assigned departments and service areas, ensuring strategic alignment and timely completion of initiatives.
Develops and monitors standard productivity benchmarks in partnership with leadership for each area and creates a standard reporting schedule for across assigned departments for visibility and transparency.
Develops a system to work directly with department management to understand variances, trends, and ad-hoc needs.
Develops and refines business and facility plans to include strategies to maximize patient revenue and minimize costs, for high quality, and increased profitability.
Partners with analytics team to refresh Unit Dashboards with relevant Operational and Financial KPIs to inform leadership in real time where opportunities may be.
Educates management on how to use interface and build in accountability.
Delivers analytics and insights that empower timely and optimal decisions for an organization across company functions.
Assesses market environment, service area demographics, market share, payor mix, customer satisfaction, clinical outcomes, service life cycle, and other functions related to operational performance.
Determines resources required (personnel, facilities, equipment and supplies) for effective administration and operation of services and programs.
Analyzes, prepares and makes recommendations on business plans for new services and programs aimed at promoting and expanding the department activities.
Plans, develops, and implements annual operating and capital budgets for assigned departments/services.
Monitors all expenditures to ensure adherence and compliance with budget, projected spending trends, controls expenditures and ensures cost effective operations within the department; completes variance reports and suggests/implements corrective action to resolve budget variances.