Charted Accountant at Hospital For Trauma and Surgery

Responsibilities

Financial Reporting and Analysis

• Prepare Financial Statements: Compile and analyze specific financial statements for hospital operations, including balance sheets, income statements, and cash flow reports.
• Financial Analysis: Analyze financial data, trends, and key performance indicators (KPIs) to identify discrepancies, monitor financial performance, and provide insights to management.
• Cost Accounting: Conduct detailed cost reporting, including calculating the cost of medical procedures, services, and departments to identify areas for efficiency and cost reduction.
• Regulatory Reporting: Prepare and submit financial reports to state and federal regulatory agencies, third-party payers, and other external stakeholders, ensuring compliance and other healthcare-specific regulations.

Budgeting and Forecasting

• Annual Budget Preparation: Assist in the development and preparation of the hospital's annual operating and capital budgets, often collaborating with various department heads and administrators.
• Monitoring and Variance Analysis: Monitor departmental and hospital-wide expenditures against the budget, investigate variances, and report on financial outcomes.
• Forecasting: Conduct financial forecasting and risk analysis to aid in strategic planning for future financial stability.

General Accounting and Record Keeping

• General Ledger (GL) Maintenance: Maintain and reconcile the general ledger, account ledgers, and subsidiary accounts.
• Journal Entries: Prepare and enter monthly or recurring journal entries.
• Reconciliations: Perform bank reconciliations, and reconcile various accounts.
• Accounts Payable (AP) and Accounts Receivable (AR): Oversee or directly manage the processes for accounts payable (vendor invoices) and accounts receivable (patient/payer billing).

Revenue Cycle Management and Billing

• Patient Accounts and Billing: Monitor, balance, and manage patient accounts, including overseeing the process of preparing and processing monthly patient billing.
• Claims Processing: Ensure accurate and timely submission of claims and invoices to insurance companies, government programs (like Medicare/Medicaid), and other payers.
• Charge Master Maintenance: Analyze, review, and maintain the hospital's Charge Master, which is the comprehensive list of billable services and items.

Audits and Compliance

• Audit Preparation: Assist in the preparation for the annual independent audit and coordinate with external auditors, providing necessary documentation and information.
• Internal Controls: Review and strengthen internal controls and procedures to safeguard financial assets and ensure financial integrity.
• Compliance: Ensure all accounting practices and financial transactions comply with established hospital policies, state licensure requirements and specific healthcare regulations.

Qualifications and Skills

• Education: Bachelor's degree in Accounting, Finance, or a related field.
• Experience: 3 - 5+ years of relevant accounting experience, with a significant preference for experience in a healthcare setting (hospital, clinic, or medical practice).
• Certification (Preferred): Our Ideal candidate must be ICAN certified.
• Technical Skills: Proficiency in accounting software systems and advanced skills in Microsoft Excel (for spreadsheets, analysis, and modeling).
• Specialized Knowledge: Strong understanding of healthcare financial regulations, compliance, and medical billing/coding processes.
• Soft Skills: Excellent analytical, problem-solving, attention to detail, communication (written and verbal), and organizational skills.