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Business Manager

Palo Alto, CA, USA | Stanford Health Care hospital

  • Industry:
    Healthcare - Hospitals
  • Position Type:
  • Functions:
    Accounting / Control
    Finance (Internal)
  • Experience:
    5-7 years
Job Description:
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Stanford Health Care is looking for an experienced Business Manager to join the BOSI department within FS&P. The Business Manager reports to the FS&P Administrative Director – Business Operations & Strategic Initiatives and Contracts. If you are interested in joining a nationally recognized health care system, please read the job description below and apply online.

The Business Manager manages the day-to-day financial and business operational activities of the department.Responsibilities include budgeting, forecasting, accounting, long-range planning, pricing, negotiation of contracts, productivity analysis and revenue management

The job duties listed are typical examples of work performed by positions in this job classification, and are not designed to contain or be interpreted as a comprehensive inventory of all duties, tasks, and responsibilities.Specific duties and responsibilities may vary depending on department or program needs without changing the general nature and scope of the job or level of responsibility.Employees may also perform other duties as assigned.

·Plans, develops, and implements annual operating and capital budgets for the service line. Monitors all expenditures to ensure adherence and compliance with budget, projected spending trends, controls expenditures and ensures cost effective operations within the department; completes variance reports and suggests/implements corrective action to resolve budget variances.

·Develops and implements strategies to maximize revenue for the service line while maintaining regulatory compliance. Assists in the identification and implementation of cost reduction activities for the service line; assesses continuously the financial viability of existing programs and practice patterns, and develop methods to optimize practices and resources.

·Performs historical data analysis of past and current years for budget preparation and funding request justification.

·Works closely with Finance on long range financial planning (LRFP) and benchmarking for the department and helps interprets LRFP into a plan of action. Monitors key financial indicators to proactively address financial matters and assist with strategic planning.

·Establishes structures to monitor variances and track financial trends including revenue and labor expenses; provides ad hoc reporting for business questions that arise regarding volume, cost, performance and profitability of the department.

·Analyzes financial implications and impacts of proposed and existing programs. Recommends improvements in systems and processes that enhance efficiency and reduce costs within the department and throughout the organization.

·Analyzes, prepares and makes recommendations on business plans for new services and programs aimed at promoting and expanding the department activities. Works closely with Director for the development and implementation of strategic initiatives focused on identifying and pursuing opportunities to improve the profitability and market share of the department.

·Supervises development of comprehensive business plans and program initiatives to support department goals including financial impact and feasibility. Assists in translation of business plans into operational reality.

·Evaluates feasibility of equipment purchase and reviews contracts for purchase of equipment to ensure consistency with Department expectations regarding financial benefit and other budgetary issues; recommends and participates in selecting outside sources for needed services; negotiates with vendors regarding contracts for equipment maintenance and repair

·Works closely with Finance to ensure operational elements of revenue management including tracking, collecting and recovering revenue; ensures that financial controls are in place to minimize possibility of revenue loss

Depending on the service line, this position may also perform the following functions:

·Sets up audit mechanisms to track charge master and revenue management within department.

·Monitors and ensures proper accounting of service line expenditures.

·Prepares monthly financial, clinical, benchmarking reports for internal and external purposes.

·Oversees expenditures to ensure appropriate use of hospital funds; oversees the favorable negotiation and implementation of contracts with outside parties for products and services

Equal Opportunity Employer Stanford Health Care (SHC) strongly values diversity and is committed to equal opportunity and non-discrimination in all of its policies and practices, including the area of employment. Accordingly, SHC does not discriminate against any person on the basis of race, color, sex, sexual orientation or gender identity and/or expression, religion, age, national or ethnic origin, political beliefs, marital status, medical condition, genetic information, veteran status, or disability, or the perception of any of the above. People of all genders, members of all racial and ethnic groups, people with disabilities, and veterans are encouraged to apply. Qualified applicants with criminal convictions will be considered after an individualized assessment of the conviction and the job requirements. 

Job Qualifications:

These are the observable and measurable attributes and skills required to perform successfully the essential functions of the job and are generally demonstrated through qualifying experience, education, or licensure/certification.

·Knowledge of financial systems, including operations, budgeting and analysis, statistics, and forecasting and modeling

·Knowledge of principles and practices of organization, administration, fiscal and personnel management

·Knowledge of financial and operational management information systems

·Knowledge of local, state and federal regulatory requirement related to the functional area

·Ability to develop and administer departmental budgets

·Ability to identify the need for and to pursue interdepartmental process improvement to maximize financial outcomes

·Ability to develop, write, analyze and present business plans, proposals, contracts and financial analysis reports

·Ability to use sophisticated conceptual, numerical, analytical and statistical skills to solve complex, unique financial problems

·Ability to provide leadership and influence others

·Ability to foster effective working relationships and build consensus

·Ability to mediate and resolve complex problems and issues

·Ability to develop long-range business plans and strategy

·Skills: Strong decision making, problem solving, project management, analytical, interpersonal, negotiation, and collaboration skills


• Bachelor’s dgree in a work-related field/discipline from an accredited college or university.


• Five years of progressively responsible and directly related work experience. 

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