Vice President, Budget, Financial Planning & Decision Support Rush University Medical Center Chicago, Illinois

Transcription

1 Chicago, Illinois THE SEARCH (Rush) welcomes inquiries, applications and referrals for the position of (VP). This is an excellent opportunity for a forward-thinking financial leader to play a critical role in serving an academic health system recognized for transformative health care. As Rush continues to advance its mission of providing the best health care through the integration of outstanding patient care, education, research, and community partnerships, the VP will play an essential role in supporting this growing enterprise through the development of sound financial planning and decision support services. With a commitment to excellence, Rush intends to become the undisputed leader in the region and nationally recognized for transforming health care. is a highly regarded academic health system, located on Chicago s near west side. The Rush System comprises, Rush University, Rush-Copley Medical Center and Rush Oak Park Hospital, as well as numerous outpatient care facilities. Rush University, with more than 2,500 students, is a health sciences university that comprises Rush Medical College, the College of Nursing, the College of Health Sciences and the Graduate College. The (VP) will report directly to the Senior Vice President/Chief Financial Officer and will serve as a key member of the Finance Leadership Team. Working in close partnership with finance and hospital leadership, the VP is responsible for providing comprehensive budgeting, financial planning and decision support services, and ensuring a high degree of transparency and collaboration. The VP will direct the annual budgetary process, interim forecasting, and decision support activities aimed at informing leadership of the performance in several key areas, including finance, quality, and operational efficiency. Central to this role is the development and support of integrated longrange financial, operational, annual and capital plans. The successful candidate will have a proven track record of at least ten years of experience in financial management within a large, complex academic health system or similar environment. Prior experience in budgeting, financial analysis, decision support systems is required. While a

2 Page 2 of 8 bachelor s degree is a minimum requirement, an advanced degree in healthcare administration, finance, business, or other relevant field, is preferred. Thorough understanding of the financial components associated with academic medicine (education, research, etc.) is expected, as are exceptional analytical, problem-solving and strategic planning skills. In addition, the successful candidate will have demonstrated an ability to lead teams with excellence as well as develop and build future leaders. This would include ability to develop and mentor of departmental leaders and staff including a focus on business analytic capabilities. Given the visibility associated with this role, candidates must have experience in leading large scale change and efficiency efforts as well as possess excellent verbal and written communication skills, coupled with the ability to interact with all levels of the organization including the Board of Trustees. has retained Isaacson, Miller to assist in this important recruitment. Please direct all inquiries and applications as indicated at the end of this document. THE ORGANIZATION Rush is a not-for-profit academic health system whose mission is to improve the health of the patients and the diverse communities it serves through the integration of outstanding patient care, education, research and community partnerships. Its single management structure is overseen by a 13-member Rush system board of trustees. This streamlined governance structure helps Rush focus on the system s goal of providing a consistent, high level of quality and commitment to the communities it serves. In Rush s most recent fiscal year, the three system hospitals had a combined annual total of 49,830 patient admissions, 184,172 emergency department visits and nearly one million outpatient visits. 's core values innovation, collaboration, accountability, respect and excellence are the roadmap to their mission and vision. These five values, known as the I CARE values, convey the philosophy behind every decision Rush employees make. Rush employees also commit themselves to executing these values with compassion. This translates into a dedication shared by all members of the Rush community to providing the highest quality patient care. has maintained a longstanding commitment to supporting the communities it serves, particularly the surrounding neighborhoods on Chicago's West Side. In total in fiscal year 2016, the Medical Center provided nearly $309 million in community benefits. That total included $210 million in unreimbursed care to our patients. In addition, many of Rush students, faculty and staff generously donate their time and skills both within and outside of the Medical Center. Their efforts include numerous health outreach projects in which they collaborate with neighborhood clinics, churches, schools and other organizations to provide health screenings and vital health education for underserved children and adults.

3 Page 3 of 8 Rush s History The history, growth and accomplishments of Rush mirror that of the dynamic city in which it resides. Rush has been part of the Chicago landscape longer than any other health care institution in fact, the founding of Rush Medical College in 1837 preceded the incorporation of the city of Chicago by two days. The founder of Rush Medical College, Daniel Brainard, MD, named the school in honor of Benjamin Rush, MD, the only physician with medical school training to sign the Declaration of Independence. The early Rush Medical College faculty became nationally recognized for patient care, research and teaching, and was associated with a number of scientific developments and new clinical procedures. The Rush faculty and trustees established a teaching hospital, Presbyterian Hospital, with the support of a local Presbyterian congregations in Presbyterian Hospital School of Nursing in turn was founded in Rush Medical College was affiliated with the University of Chicago from 1898 to Following the end of this affiliation, Rush Medical College closed its doors in 1942 for the next 27 years. Meanwhile, Presbyterian Hospital merged with St. Luke s Hospital founded in Chicago in 1864 in 1956 to form Presbyterian-St. Luke s Hospital. The two hospitals nursing schools also united to create the Presbyterian-St. Luke s Hospital School of Nursing. In 1969, Rush Medical College reactivated its charter and merged with Presbyterian-St. Luke s Hospital to form Rush-Presbyterian-St. Luke s Medical Center. Rush University was established in The institution officially changed its name in September 2003 to Rush University Medical Center. The change reflects the key role that education and research play in Rush s patient care mission. Located one mile west of Chicago s downtown, includes Rush University Hospital, Rush University and the Rush University Medical Group. The hospital is licensed to operate 713 beds of which 679 currently are staffed and includes the Johnston R. Bowman Health Center, a rehabilitation and psychiatric facility, and Rush University Children s Hospital.

4 Page 4 of 8 According to COMPdata, the Medical Center is the third largest hospital provider in the eightcounty Chicago metropolitan area, as measured by market share. Rush is proud to have more than 11,000 employees and 1,800 physicians (including both Rush employees and doctors with private practices located at Rush). In 2012, the Medical Center opened a sophisticated 376-bed hospital building, known as the Tower, as part of a major campus renovation. Rush's commitment to sustainability innovation earned the Tower LEED Gold certification. Rush's campus transformation also included the Orthopedic Building, which opened in 2010, and the campus-wide implementation of an electronic medical record system, enhancing patient care and safety. Outpatient Expansion In April 2016, Rush opened an outpatient health center in Chicago's River North neighborhood, providing immediate, primary and specialty care in a neighborhood setting with extended office hours. Another Rush outpatient facility is planned for Chicago's South Loop neighborhood and slated to open in Rush also will expand access to advanced outpatient care at Rush Oak Park Hospital this year. Rush and Midwest Orthopedics at Rush, a private physician practice, began construction this spring on a new medical professional building in Oak Brook, Illinois, that will expand access to academic health care in Chicago's western suburbs. The anticipated opening of the building, located at 2011 York Road, will be spring Rush plans to build an innovative and comprehensive outpatient care facility, the Rush Center for Advanced Health Care, on its West Side campus, expected to be completed in The building design, access and care model will create a new feeling and experience for the growing numbers of people who receive both primary and more complex care in physicians offices and ambulatory centers. The new ambulatory building will enable new models of enhanced care delivery along with a patient experience that is second to none. This approach was used to transform inpatient care when the new Tower was planned and constructed, using the design to bring providers closer to patients and using advanced technology including the electronic health record. Rush University Focusing exclusively on the health sciences, Rush University is functionally and geographically fully integrated into. More than 2,500 students are enrolled across Rush Medical College, the College of Nursing, College of Health Sciences and the Graduate College. Rush University offers certificate programs, bachelor s degrees, master s degrees and doctoral degrees through more than 40 programs. The University is known for its practitioner-teacher

5 Page 5 of 8 model, translational research, nurturing academic environment and focus on community and global health. Research More than 1,600 basic, clinical and population studies currently are underway at the Medical Center, examining the underlying mechanisms of disease and developing innovative treatments. In recent years, the quality of research has secured increasing levels of support from the National Institutes of Health. Externally funded research at Rush totaled more than $80 million in fiscal year Rush physicians and scientists have helped drive medical science forward ever since Rush Medical College opened in 1837, determining the cause of scarlet fever, identifying clot formation in coronary arteries as the cause of heart attacks, discovering sickle cell anemia and developing the world s first implantable pacemakers. Today, researchers at the Medical Center are extending this legacy. Rush Oak Park Hospital In 1997, Rush Oak Park Hospital partnered with, adding to its renowned services, programs and physicians while continuing to provide exceptional and compassionate health care that promotes the well-being of the community it serves. In 2013, acquired the hospital outright, solidifying its continued investment in community health care. With 95 beds, Rush Oak Park Hospital offers the same high standards of care as, and many specialists practice at both hospitals. The partnership provides patients with collaborative care at the highest level. Rush Copley Medical Center Rush-Copley Medical Center is a 210-bed hospital providing health and wellness services to the greater Fox Valley community. Nearly 500 physicians and 2,000 clinical and professional staff members provide advanced medicine and extraordinary care to patients. Culminating a 30-year affiliation, Rush-Copley fully integrated with in March Rush Health Rush Health is a clinically integrated network of health care providers primarily hospitals and physicians whose members work together to improve quality of health care. Rush University Medical Center, Rush Oak Park Hospital, Rush-Copley Medical Center and most of the physicians on the hospitals medical staffs are members of Rush Health. Riverside Medical Center in Joliet, Illinois, and members of its medical staff, are also members of this growing network.

6 Page 6 of 8 THE ROLE Reporting to the SVP, Finance, Chief Financial Officer, the VP, Budget, Financial Planning & Decision Support will have primary responsibility for all budgeting, financial planning, and decision support activities of the Medical Center. As a senior member of the finance team, this role will also interact and engage with the other Rush System entities as necessary in budget and financial planning activities. He/she will have significant interaction with senior leadership, corporate services departments, clinical and university affairs, strategic planning, operations, the CMO s office and other functions and departments of the organization. This position will work closely with the CFO, President and other senior leaders exemplifying the Rush mission, vision and values. While functioning at both a strategic and operational level, the VP will be a progressive, forward-thinking, strategic leader adept at navigating today s rapidly changing healthcare and financial environments. The successful candidate will bring significant fiscal experience in a complex healthcare setting, strong financial management skills, and collaborative problemsolving ability. The new VP will have excellent interpersonal and communication skills coupled with the ability to develop consensus among multiple constituents. The Vice President will be expected to address the following: Overseeing a timely financial and long-range planning process With responsibility for directing the annual budget process, the VP will take the lead in overseeing the complete budget process and streamlining the effort when possible. The VP will establish operating, capital and cash flow targets; develop systems and methodologies to be employed in the process; and prepare presentations to the Board and other committees while ensuring financial services support to operating entities throughout the process. This includes developing and maintaining timeframes and budget assumptions as well as communicating and consulting with individuals involved throughout the process as well as monitoring and helping inform variances in budget throughout the year, working with leadership to explain, make recommendation and take corrective action as necessary. From a long-term planning perspective, the VP will work with facilities management, clinical operations, information services and other key stakeholders to develop and maintain the longterm capital investment plan and incorporate it into the long-term financial plan. This includes determining capital allocation required to achieve long-term financial goals as well as developing annual capital spend targets and monitoring actual spend against approved expenditures. In addition, this role is responsible for directing interim forecasting and maintaining an up-to-date 10 year System financial plan, annual system long-term financial planning processes, including development of models to project net income, cash flow, balance sheets and financial ratios.

7 Page 7 of 8 Supporting and sustaining clinical excellence through resource management In support of the clinical enterprise, the VP Partners with CMO, Associate CMOs, and hospital operations leadership to identify and drive Clinical Resources Management initiatives aimed at maximizing revenue and reducing costs while maintaining or improving quality and patient experience outcomes. This includes facilitating meetings associated with the process and ensuring that appropriate infrastructure and support is available to support operating entities in meeting stated goals. To this end, this role is responsible for providing leadership with accurate, timely reports, including, to service line profitability analysis, payor profitability analysis, FTE and labor productivity, ratio analysis, and funds flow reports. In addition, the VP directs the decision support activities, including maintenance of cost accounting and decision support systems, review and evaluation of cost assumptions, and overhead models employed. Furthermore, this role works with Healthcare Finance to develop protocols for ensuring and maintaining maximization of revenue, including pricing, sound charge capture processes, and departmental education. Also, the VP will work closely with RUMG, University and hospital leadership on annual and interim evaluation of new program investment, including faculty recruitment, through preparation of pro formas and other analyses to ensure clinical and other program development opportunities are incorporated into annual planning, budgeting and forecasting processes. Facilitating and increasing collaboration and consensus The VP functions in a highly collaborative manner honing the budgeting, financial planning, and decision support process in order to meet the ongoing and changing needs of this growing enterprise. In doing so, the VP collaborates with colleagues and stakeholders throughout the system. This includes working in tandem with colleagues in finance as well as clinical operations, information services, facilities management, among other areas. Developing metrics for success The VP applies metric driven and strategic analysis in the review, evaluation, and on-going assessment of all budget, financial planning, and decision support services. In overseeing and directing all financial planning and reporting, the VP applies the necessary fiscal controls to ensure that expenditures are allocated in the best interests of Rush. In partnership with the hospital CFO, the VP provides necessary data and analysis to senior leadership to ensure the fiscal health and sustainability. In addition, the VP is responsible for organizational benchmarking efforts, including data gathering, data submission, analysis & interpretation, report preparation and user education/training.

8 Page 8 of 8 THE SUCCESSFUL CANDIDATE The successful candidate will have a proven track record of at least ten years of experience in financial management within a large, complex academic health system or similar environment. Prior experience in budgeting, financial analysis, decision support systems is required. While a bachelor s degree is a minimum requirement, an advanced degree in healthcare administration, finance, business, or other relevant field, is preferred. Thorough understanding of the financial components associated with academic medicine (education, research, etc.) is expected, as are exceptional analytical, problem-solving and strategic planning skills. In addition, the successful candidate will have demonstrated an ability to lead teams with excellence as well as develop and build future leaders. Given the visibility associated with this role, candidates must have experience in leading large scale change efforts as well as possess excellent verbal and written communication skills coupled with the ability to interact with all levels of the organization including the Board of Trustees. In addition, the desired candidate has demonstrated success in analyzing complex financial data, and understanding of operations management and systems interface. The ability develop consensus among multiple constituents is key. Experience in leading a team through businessprocess improvement and organizational-change initiatives is highly desired as are advanced communication skills. TO APPLY: Inquiries, nominations, and applications should be sent in strict confidence to: Dan Rodas, Vice President Jane McMahon, Managing Associate Isaacson, Miller Rush is an equal opportunity employer. As such, they evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.