A. Key Roles
a. Design the financial strategies for the organisation viz., pricing of packages and schemes etc along with the
b. Contributing financial and accounting information, analysis, and recommendations to strategic thinking and
c. As a financial head, to design a effective financial control system by way of Budgeting and other effective
costing practices; and to optimize the financial resources.
d. To provide concrete policies and opinions on term investments, fixed assets purchases.
e. To ensure the hospital reaches the Break Even Point at the earliest.
f. To provide to the Board of Directors, objective based analysis and inputs on various investment
opportunities and risks, and solutions for effective outcome of the planned investments.
g. To assist Medical Director/CEO in establishing certain
policies in the following aspects:
Costing of Services
Equipment (medical and other)-acquisition, depreciation and sale of obsolete
Pay form to other consultants on contract.
Capital Investments - land and building and equipment.
Other expenditure on materials (medical and other).
Insurance of all the assets.
B. Scope of Work
a. To act as a financial leader and moderator in the senior managerial group.
b. To participate with the Board of Directors & the CEO in setting visions and objectives especially the
financial goals for the hospital and the departments, and designing newer financial strategies to achieve
c. To draft policies and regulations in collaboration with the Board of Directors & Medical Director/CEO to
establish financial security, cost leaderships, and measurability of departmental productivity and
d. To coordinate with other departmental heads viz., HR, Marketing & Operations (through the Medical
Director/ CEO) and garner pan departmental alignment for effective implementation of strategies.
e. To provide guidance and direction to the other members of the Senior Management and also the CEO
towards effective financial governance and maximizing financial resources utilization.
f. To construct effective working models and tools to ensure the successful implementation of the designed
strategies across the cadres, vertically and horizontally.
g. To gather and analyze all the financial data and information to make sure the hospital is operating within
budget and to determine how to allocate funds to various areas.
h. To define objective tools to measure and monitor the performance and progress of each of the
departments in terms of cost, output, and patients satisfaction.
i. To collaborate with other Managers and Senior Officers and help resolve key accounts and finance
j. To take account of the financial performances of the departments in terms of Returns on Investments and
costs at periodic intervals and present them in the Board of Directors meeting for analyses, decisions,
and forward planning.
k. To build an effective data warehouse that enables effective data mining for financial performances of
every departments (Digital Hospital Information system).
l. To update the Medical Director/CEO and Board of Directors regularly with the progress and happenings
in the hospitals regards the economy, salient achievements, and departmental performances.
m. To constantly benchmark with other better players in the market to bring in best working policies,
strategies, technologies and practices.
n. To conduct interviews for selection of employees under Finance & Accounts Department.
o. Ensures that all balance sheet accounts are reconciled on a monthly basis and systems of internal
controls are in place to facilitate a clean audit opinion with no audit adjustments or internal control
p. Maintains effective revenue cycle processes to keep patient accounts receivable at an acceptable level
and also increasing the hospitals cash flow.
q. Devising discounts/ packages for Corporate tie-ups, evaluations of terms for contracts for credit parties
r. Liaison with the TPAs & employer companies for reimbursement of credits availed by their patrons/
employees; maintain documentation for the same
s. Liaise with external agencies like Banks, Income Tax, Insurance agencies, etc.
t. To taken into consideration the view points of the marketing and operations departments to have an
effective middle path to balance financial risks and exploit market opportunities.