Job Description

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 hands-on 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 organization’s 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 intern’s skills and abilities.  The internship should be viewed by the intern as an opportunity that could result in full-time 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 ReportingInternal financial reporting to Board and Management, and external financial reporting to Bond Rating Agencies, Bond Holders and Debt MarketsCompliance with UMMS financial policies and proceduresTax compliance and strategy

Reimbursement & Revenue Advisory Services

 Rate Setting Establish 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 case-mix (i.e. measure of patient acuity) is accurate through monitoring case-mix 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 Integrity Promote 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 value-based care arrangementsPayer contract management and complianceDevelop and administer system-wide Payer strategy

The 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 follow-up, and distribution of meeting agendas and minutes.Company Description

The University of Maryland Medical System (UMMS) is an academic private health system, focused on delivering compassionate, high quality care and putting discovery and innovation into practice at the bedside. Partnering with the University of Maryland School of Medicine, University of Maryland School of Nursing and University of Maryland, Baltimore who educate the state's future health care professionals, UMMS is an integrated network of care, delivering 25 percent of all hospital care in urban, suburban and rural communities across the state of Maryland. UMMS puts academic medicine within reach through primary and specialty care delivered at 11 hospitals, including the flagship University of Maryland Medical Center, the System's anchor institution in downtown Baltimore, as well as through a network of University of Maryland Urgent Care centers and more than 150 other locations in 13 counties. For more information, visit www.umms.org.

Qualifications

Education and Experience

Enrolled in a Baccalaureate or Master’s 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 problem-solving 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 the 2024-2025 UMMS Benefits Guide