General Summary
- A college intern working in the field of healthcare accounting helps in the development and implementation of UMMS policies and practices in the designated area of accounting and financial reporting. By getting hands-on experience by working under a financial reporting leader, he/she is able to participate in healthcare financial operations and learn to follow the impact of and respond to financial trends.
- The intern will have opportunities to practically apply their theoretical knowledge of financial operations to their day to day assigned work at UMMS.
- Under direct supervision, the college intern works directly with various financial reporting staff to develop, analyze, report and interpret financial and statistical information to assist management in the formation, implementation and execution of the organization’s business plans.
- The finance internship is a mutually beneficial arrangement whereby the intern learns to apply classroom learning to a live business environment while UMMS leadership has an opportunity to observe and develop the intern’s skills and abilities.
- The internship should be viewed by the intern as an opportunity that could result in full-time employment in the future, and accordingly the intern is expected to exhibit professionalism, be inquisitive, and develop effective working relationships with UMMS staff and leadership.
Principal Financial Reporting Department Responsibilities and Tasks
- Internal financial reporting to Board and Management, and external financial reporting to Bond Rating Agencies and Bond Holders
- Oversight and completion of monthly and annual financial statement close procedures and annual consolidated financial statement audit
- Compliance with UMMS financial policies and procedures
- Establish annual HSCRC approved Global Budget Revenue (“GBR”) and corresponding unit rates. Ensure UMMS is receiving maximum allowed GBRs for each hospital.
- Ensure approved hospital rates are set to charge to full approved annual GBR.
- Negotiate hospital specific GBR improvement opportunities with HSCRC.
- Provide annual hospital revenue budgets using estimated approved GBR and unit rates.
- Meet all federal and state regulatory reporting requirements.
- Monitor & report hospital specific HSCRC quality measure performance.
The following statements are intended to describe the general nature and level of work being performed by people working in an intern role. These are not to be construed as an exhaustive list of all job duties to be performed.
- Assists in the preparation of various reports for reporting organizational activity for use by Finance Shared Services and other UMMS departments, including various statistical, compliance and regulatory reports for outside agencies such as Center for Medicare and Medicaid Services (CMS), Health Services Cost Review Commission (HSCRC), and the Maryland Hospital Association (MHA) in accordance with the requesting agencies standards and requirements.
- Assists with monitoring and investigating various financial transactions.
- Assists with the preparation of various surveys and special requests by senior management and/or outside regulatory agencies.
- Assists departments to provide analytical and technical support regarding volume and revenue analysis, budgeting and expense analysis and regulatory policies and procedures.
- Develops work plans and coordinates the successful completion of routine, ad hoc, analyses and projects under supervision.
- Assists with organizing and maintaining major reports and schedules
- Participates in meetings as requested; includes assisting with meeting scheduling, preparation and follow-up, and distribution of meeting agendas and minutes.
Education and Experience
- Enrolled in a Baccalaureate or Master’s degree program with a minimum GPA of 3.0 of a possible 4.0.
- Two years college is preferred. Healthcare administration, Business, Accounting, Finance or related major is preferred.
Knowledge, Skills and Abilities
- Ability to judge the level of confidentiality of information / activities involved in and exhibit integrity in use of dissemination of such information.
- Proficient in Microsoft Excel, Microsoft Word and Outlook.
- Ability to work in a team environment with changing demands and timelines
- Highly motivated with a desire to learn
- Effective verbal and written communication skills are necessary in dealing with a variety of healthcare and finance professionals.
- Outstanding organization and problem-solving skills.
- Ability to assess and evaluate financial data via use of computer analysis.
- Ability to work effectively in a stressful work environment
All your information will be kept confidential according to EEO guidelines.
Compensation
