To be responsible, as a member of the Divisional Leadership Team for the leadership, strategic direction, performance and function of Private Care finance to ensure that it achieves its goals and objectives. To transform Private Care’s financial function into a high performing department which meets the needs of the business and its key stakeholders.
Work alongside the Managing Director and senior leadership team to develop the commercial strategy of the Private Care business
RNOH Royal National Orthopaedic Hospital NHS Trust (RNOH) is the largest orthopaedic hospital in the UK and a global leader in our field. We provide a dynamic working environment where we support frontline staff to implement improvements so that we can realise our vision of being a world leading neuro-musculoskeletal hospital providing the best patient care and staff experience in the NHS, delivering world leading research, and offering a strong foundation of education, training and career progression. Our dedicated staff come from diverse backgrounds, and our patients benefit from the wide range of experience they bring to the trust. RNOH brings unrivalled expertise together in one place allowing us to deliver some of the world’s most complex and innovative care to our patients. RNOH is rated good by the CQC and covers two sites, one in central London and one in Stanmore - which has recently opened The Stanmore Building, a new, state-of-the-art inpatient facility. For more information, please access the following link:https://www.rnoh.nhs.uk/
Financial
• Provide robust commercial and financial support to the Division, leading on the development of annual budgets, plans and cashflow forecasts.
• Monitor and report on the performance of the Division against the financial plan on a monthly basis, ensuring that transactions and expenditure are properly allocated, and the budget remains reflective of the operational function of the business.
• Work closely with Private Care’s Finance Business Partner to ensure that Private Care’s trading accounts are reflective of performance and to make them aware of any variances to plan in a timely manner.
• Create a financial dashboard for Private Care which shows a snapshot of the business at a given point in time, enabling the Divisional Leadership team to make agile strategic decisions.
• Use complex financial and commercial analysis to advise the Divisional Leadership team on the strategic direction of Private Care.
• Proactively monitor the market to ensure that our pricing strategy delivers maximum value for the business, whilst simultaneously ensuring that we remain competitively priced.
• Develop self-pay package prices for simple procedures and a mechanism to ensure that price estimates for more complex procedures are highly accurate.
• Define, lead and drive forward a project to understand Private Care’s profitability by procedure and the wider contribution it makes to the Trust. Once developed, ensure that this approach forms part of business as usual and is reported through the financial dashboard.
• Maximise the benefits from system efficiencies from the IT applications used by Private Care including Compucare 8 and ensure they are being effectively utilised and developed.
• Work alongside the Managing Director and senior leadership team to develop the commercial strategy of the Private Care business
Operational
• Develop and implement a programme of transformation within the Private Care finance department to ensure it is high-functioning, efficient and meets the needs of its service users.
• Drive profitable service development and new initiatives through the provision of insightful and accurate financial data.
• Provide support to the Division in producing business cases for operational and capital expenditure.
• Manage the billing and credit control function to ensure it is efficient and continuously improved to maximise revenue capture and generate income without delay.
• Create a process to ensure that Consultants are paid for the work that they undertake in a timely and transparent manner and manage the relevant payment runs.
• Ensure that all Consultant payments are properly compliant with CMA regulations and that there are clear contractual terms in place to govern them.
• Contribute to strategic and development projects as desired.
Leadership
• To manage and be accountable for the proactive management of relationships with sponsors of Private Care and its suppliers.
• Be accountable for the management of Private Care IT software systems which pertain to finance and billing.
• Lead on contract negotiations with sponsors of Private Care to secure profitable pricing, ensure that financial uplifts are implemented in a timely manner and to manage the relationship in-year.
• Represent Private Care finance on the Trust’s Medical Advisory Committee (MAC) and at Consultant forums and meetings as required.
Communication
• Utilise a variety of strategies to communicate effectively and deal with complex financial enquiries and queries from key stakeholders, including Consultants, their private medical secretaries, prospective patients, embassies, referrers and other third-party sponsors, delivering a high standard of customer service at all times.
• Clearly communicate changes in process and policies to key stakeholders and keep them abreast of any relevant developments and changes within the finance function.
• Utilise the skills, experience and information gathered through undertaking the role to continuously improve finance processes and function, so that it is more effective for all stakeholders.
• Be aware of and sensitive to other cultures and religions whilst dealing with private patients, ensuring vulnerable groups are not discriminated against.
People Management
• The post-holder is directly responsible for the management and operations of Private Care’s finance and billing function and to ensure that these teams have the appropriate skills, guidance and expertise to deliver a high-quality service to the business and its stakeholders.
• Provide support, guidance and development opportunities for staff, with clear and consistent feedback.
• Ensure that all staff have annual appraisals, meet mandatory training requirements, have structured performance reviews and that clear performance-related objectives are set.
• Address any performance or HR issues, taking appropriate action as necessary.
• Participate in the recruitment and training of new staff, as required.
Data Management and Compliance
• To develop and monitor KPIs for the finance and billing functions within Private Care.
• Ensure that Standing Financial Instructions are always followed.
• Ensure record keeping is up-to-date, accurate and aligns with the Trust’s information governance policy.
• Ensure all Private Care policies and procedures are adhered to and acted upon in a timely and efficient manner.
• Maintain financial policies in accordance with the Department of Health, professional and other guidelines.
Personal Development
The post holder is responsible for:
• Identifying their own developmental needs and contributing to their development objectives.
• Reflecting on their performance and ensuring that they develop the necessary knowledge and skills to meet current and emerging demands of the post.
• Exploiting learning opportunities available to them, both inside and outside of the organisation and developing additional competencies to benefit the Private Care Division.
The duties and responsibilities set out here are a general outline of the post and are not intended to be an exhaustive or inflexible list. The post holder may be required to extend their duties in line with the need of the business.
This advert closes on Wednesday 27 Nov 2024
Proud member of the Disability Confident employer scheme
Disability Confident
About Disability Confident
A Disability Confident employer will generally offer an interview to any applicant that declares they have a disability and meets the minimum criteria for the job as defined by the employer. It is important to note that in certain recruitment situations such as high-volume, seasonal and high-peak times, the employer may wish to limit the overall numbers of interviews offered to both disabled people and non-disabled people. For more details please go to
Disability Confident.
