Aster DM Healthcare - Deputy Manager/Manager - Financial Planning & Analysis Costing (2-5 yrs)

Deputy Manager/Manager - FP&A Costing

Work 6 days/week

Reporting To - (Role to which this role reports) Head FP&A

Specific / Relevant Experience Corporate Hospital experience

Objective:

The role incumbent is responsible for analyzing and monitoring the cost structure and financial performance of various departments and services within the organization. Expected to play a crucial role in ensuring accurate cost allocation, cost control, and providing valuable insights to support informed decision-making.

Key Responsibilities:

1 Cost Analysis and Reporting: Analyze the cost structure of different hospital departments, services, and procedures.

- Prepare accurate and timely cost reports, including variance analysis, cost trends, and key performance indicators (KPIs).

- Identify cost-saving opportunities and provide recommendations to improve financial efficiency.

2 Cost Allocation and Pricing: Develop and maintain costing methodologies to allocate expenses to different hospital services and procedures.

- Collaborate with relevant stakeholders, such as department heads and physicians, to ensure accurate cost allocation and pricing of services.

3 Financial Planning and Forecasting Support the FP&A team in the annual budgeting process by providing cost data, insights, and projections.

- Collaborate with other finance team members to develop financial models and forecasts related to costs and expenses.

- Monitor actual costs against budgeted targets and provide explanations for significant variances.

4 Data Analysis and Insights: Utilize financial and operational data to identify trends, patterns, and areas of improvement.

- Conduct ad-hoc analyses to support decision-making and provide insights to senior management.

- Assist in developing dashboards and visualizations to effectively communicate cost-related information to stakeholders.

- 5 Process Improvement: Identify process inefficiencies and develop initiatives to streamline cost allocation, reporting, and analysis.

- Work closely with cross-functional teams to implement cost-saving initiatives and monitor their effectiveness.

- Stay updated with industry best practices and emerging trends in healthcare costing and financial management.

6 Cross-functional Collaboration: Work closely with other departments, such as Operations, Revenue Cycle, and Supply Chain, to gather relevant data and ensure alignment in cost-related initiatives. Collaborate with the Finance team on financial planning, reporting, and analysis activities.

Key Attributes :

- Leadership and People Management

- Strong Financial Acumen

- Analytical Skills

- Ability to develop strong working relationships