Business Manager, Pharmacy

Business Manager

HUP

Summary:

The Business Manager of HUP Inpatient and Infusion Pharmacy Services will provide financial oversight and analysis of Revenue, Expenses, Inventory, and Capital for assigned pharmacy accounting units.

Accountabilities:

Responsible for monitoring and reporting all financial activities of the HUP Inpatient Pharmacy, Investigational Drugs Services, Anticoagulation Management Center, Pharmacy at Penn Medicine at Rittenhouse, Pharmacy at HUP Cedar Avenue, Infusion Pharmacy at Perelman Center for Advanced Medicine, Infusion Pharmacy at Penn Medicine at Valley Forge and Infusion Pharmacy at Radnor.

Pharmacy and Assigned Accounting Units:

Business/Programmatic Planning: Assists the Chief Pharmacy Officer and the Director of Pharmacy Business Operations with development of department strategic financial plan, operating and capital budget.

Revenue Cycle Management: Oversight of revenue cycle processes including billing and documentation integrity and charge reconciliation. Supervises Financial Analyst in the management of all billing operations including maintaining the EMR work queues. Collaborates with hospital finance and clinical leadership to maintain compliance with charge and data capture. Provides continuous feedback regarding areas of opportunity for continuous improvement.

Fiscal Accountability:

Monthly close: Completes monthly financial statement close of pharmacy operations. Develops financial analysis to support business decisions using analytical tools. Proactively monitors and interprets ongoing financial performance and reports findings. Analyzes and assesses budget variances due to the rate and volume of resources utilized monthly. Assesses all expense categories, including salary variances and productivity. Acts as a resource to clinical managers in the assistance of such analyses.

Operating Budget: Coordinates preparation of the annual operating budget for assigned accounting units. Responsible for input of budget into financial information systems. Forecasts requirements for FTE’s, equipment, supplies and workload consistent with goals and objectives. Additionally, help managers assess Hire-to FTE’s.

Capital Purchases: Assess the ongoing needs related to capital and minor equipment. Develops proposal for capital purchase and related return on investment as needed. Plans appropriately for the efficient use of allocated funds to ensure needs are met consistent with clinical priorities throughout the division. Implements plans for capital and minor equipment in collaboration with physicians and hospital leadership. Execute Capital Purchase through the CER process.

Inventory valuation: Completes monthly reconciliation of pharmacy Inventory and investigates and explains changes in the inventory balance. Schedules and coordinates timely cycle counts for all areas of pharmacy inventory within assigned accounting units.

Supervises and assists financial analyst with processing non-medication purchasing requests, check requests, employee reimbursements, and deposits.

Serve as liaison and partner with hospital finance department for monthly financial reporting, variance analysis, budgeting, and other financial activities.

Assist Inpatient Pharmacy Finance and Clinical leadership in the management of 340B operations as assigned

Education or Equivalent Experience:

• Bachelor of Arts or Science (Required)
• 5+ years Accounting or Finance experience in healthcare.
• Experience working in finance within a hospital or health system preferably in Pharmacy is strongly preferred.
• Or Master's Degree and 3+ years Accounting or Finance experience in healthcare.