Senior Director, Revenue & Analytics

University of Chicago • Hyde Park, IL

1d • $120,000 - $250,000 • Onsite

About The Position

The University of Chicago biomedical enterprise houses three entities: the Biological Sciences Division (BSD), the University of Chicago Medicine (UCM), and the Pritzker School of Medicine. Collectively called UCM, we are one of the nation's leading academic medical institutions and have been at the forefront of discovery, education, and clinical care since 1927. Located 20 minutes south of downtown Chicago, our Hyde Park main campus provides a single environment for learning, world-renowned basic science and clinical research, and outstanding clinical care. The BSD is the largest academic unit within the University. The BSD is comprised of faculty from ten basic science departments, 13 clinical departments, and several Centers and Institutes. The approximately 1,300 faculty and 3,000 staff members working in the BSD collaborate across the organization to achieve our Mission, Vision, and Values (MVV): MISSION: As part of the University of Chicago, we pursue globally impactful solutions to seemingly unsolvable challenges. Through our rigorous research, innovative education, and comprehensive care and healing, we collaborate on life-changing advancements that create meaningful results for our community and the world, including a greater, more equitable future for all. VISION: Together, we elevate the human experience with knowledge and health care. VALUES: Commit to Excellence: We contribute our exceptional talents to all we do and empower the same spirit of excellence in others. The job manages multiple teams of managers and professional staff responsible for establishing and maintaining accounting policies and controls, fiscal controls, preparing financial reports and safeguarding the assets. Develops strategy for accounting and financial records and reports. As a member of BSD’s Accounting and Financial Reporting leadership team, this position plays a key role in overseeing and reporting multi-faceted net revenue performance across the division for the clinical and academic missions. The Senior Director of Revenue and Analytics is responsible for BSD revenue from all missions with particular focus on all streams of clinical revenue, clinical trial revenue, funds flow revenue, and UC health plan revenue. This includes assessing revenue valuation as well as accounts receivable (A/R) and cash management. The senior director will build and maintain advanced analytics and optimize reporting and accounting processes to ensure in-depth understanding of revenue recognition and cash flow for UCFP and the BSD. The Sr Director will advise on revenue risks and performance relative to budget, including all revenues accrued vs. cash received. Partnering across the finance team, ensure that annual budgets/plans, actual performance and valuations of patient care revenue are aligned with the organization’s overall expectations and growth strategies.

Requirements

• Minimum requirements include a college or university degree in related field.
• Minimum requirements include knowledge and skills developed through 7+ years of work experience in a related job discipline.

Nice To Haves

• Master’s degree in related field or CPA.
• 10+ years of progressive work experience in Health Care or Academic Medical Center financial analysis, data modeling, reporting, and budgeting preferred.
• Exceptional communication, organizational, and project management skills.
• Strong process reengineering abilities, with experience in implementing new systems.
• Ability to work closely and lead collaboratively across functions and with senior divisional leadership, as well as departmental administration.
• Proficiency with data analytics and reporting tools.
• Ability to work effectively under considerable time pressure on high visibility items.
• Knowledge of various financial principles, practices, and applications.
• Solid understanding of healthcare billing and revenue cycle dynamics.
• Strong project management, analytical, and organizational skills.
• Ability to understand a workflow and visualize it for other users.
• High level of independent analysis strongly preferred.
• Advanced skills in financial and statistical analysis.

Responsibilities

• Hires, manages, and develops a professional staff whose responsibilities focus on revenue recognition entries, analysis, and rate modeling.
• Prepare monthly reporting comparing cash collections vs accrued revenue, including but not limited to patient care revenue, department billed clinical revenue, other contract revenue, and clinical research collections.
• Perform regular Zero Balance Analysis (ZBA) to ensure that revenue collections align with contract terms and partner with the Executive Director Physician Services to understand and manage any variance or risks.
• Closely monitor trends and Accounts Receivable, pre A/R volumes, aging, denials, etc.
• Collaborates with Budget team and department leaders to model recommendations for building clinical revenue budgets and projections, inclusive of historical trends, growth strategies, managed care contract terms, and external market factors.
• Monitors key indicators and variances in clinical revenue at various levels of granularity, identifying and communicating to potential areas for process improvement, enhanced financial performance, and risk areas for proactive solutions.
• Creates and oversees IT analytics in the implementation, maintenance, and enhancements of timely and interactive data-driven dashboards that provide visibility into drivers of net revenue, with key clinical revenue indicators, trends, and variance analysis to support strategic planning, operational optimization and proactive decision making.
• Presents clinical revenue findings and data-driven recommendations to BSD leadership and other stakeholders, providing insights into net revenue trends and variances.
• Partner with the Executive Director, Physician Services, to model revenue impact of contract changes, including changes to Medicare rates, leveraging Vizient and other tools.
• Partner with the Sr. Director of Accounting and Financial Reporting to ensure integrity of reported revenue and AR valuation.
• Manages applicable accounting and financial records, ensuring the integrity of general ledger transactions, financial reports, and appropriate AR / net revenue valuations; monitors and reports on contractual adjustments and bad debt.
• Manages year end audit workpapers and responds to audit questions.
• Ensures timely and accurate reporting of all accounting transactions related to clinical and academic revenue.
• Partners with UCM and FP&A staff to track the cash and revenue recognition of Funds Flow payments from UCM, Ingalls and other entities.
• Coordinates and manages development of annual operating budgets for UCPG operations, including variance analysis and reporting.
• Directs the development and implementation of related accounting transactions and processes; evaluates and operationalizes new opportunities for efficiencies between Epic, the integrated cube, and Oracle.
• Manages and coordinates external reporting for financial surveys related to revenue.
• Serves as key contact person for departmental and divisional administrators for questions relating to clinical revenue recognition, including developing standard operating procedures to ensure best practices in revenue recognition, discounting, etc.
• Works closely with physician contracting, managed care, and revenue cycle offices to incorporate contract negotiations and historical trends into collection rates and budgets; assists in associated analysis.
• Oversee UCHP financial reporting and budget preparation, participates in Management and Strategy Committee meetings.
• Engages with and leverages AI tools to optimize financial work flows, analysis, and decision making.
• Participates in projects and committees relating to funds flow design, monitors associated revenue compared to budget and overall expectations, and addresses material variances.
• Manages managers and professional staff.
• Establishes performance goals, allocates resources and assesses policies for direct subordinates.
• Advises on accounting transactions, collecting and analyzing accounting data, analyzing business results, and/or developing management reports.
• Performs other related work as needed.

Benefits

• The University of Chicago offers a wide range of benefits programs and resources for eligible employees, including health, retirement, and paid time off. Information about the benefit offerings can be found in the Benefits Guidebook .

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Number of Employees: 5,001-10,000 employees