Aster DM Healthcare

3 weeks ago


Bengaluru, India Aster DM Healthcare Full time

Deputy Manager/Manager - FP&A Costing


Work 6 To - (Role to which this role reports) Head FP&A


Specific / Relevant Experience Corporate Hospital 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

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