Overall Job Summary
The cost accountant position is accountable for the ongoing analysis, recording, analyzing and allocating cost to the individual services provided to patients. The cost accountant must construct and monitor those cost-effective data accumulation systems needed to provide an appropriate level of costing information to management.
As per contract
- Professionally Responsible To
Financial Manager / Controller
- Reports To
Financial Manager / Controller
Key Areas of Responsibility
Specialised Programs Development and Implementation
- Create and review the controls needed for data accumulation and reporting systems
- Maintain Cost Accounting System
- Build updated databases and manage cost information to maximize profitability
- Determine fixed costs (e.g. salaries, rent and insurance)
- Prepare budget and management reports (for the Hospital and for each department) specifying and comparing factors affecting prices and profitability
- Analyzing and presenting key financial data (monthly, quarterly and annual)
- Assisting in month-end and year-end closing
- Coordinate physical inventory counts and monitor cycle counts; investigate variances and resolve issues
- Validate the cost of sales as part of the month-end close
- Accumulate and apply overhead costs as required
- Conduct ongoing costing analyses; report on variances and their causes
- Report on margins by specialty
- Support budgeting, forecasting and cash funding processes
- Assisting with month end close of General Ledger
Strategy Development, Implementation and Evaluation
- Management Reports specifying and comparing factors affecting prices and profitability
- Identify and recommend cost-effective solutions
- Provide data that supports pricing strategy and revision of prices
This role interacts directly with the following operating networks:
- Supply Chain/OT/Pharmacy/Wards - Analysis and variance investigation; process improvement
- All Opex Departments - Analysis and variance investigation; process improvement
Professional / Personal Responsibilities
- Communicates with purpose - Conveys ideas and information to groups for mutual understanding, commitment and action
- Accountability - Accepts responsibility for one's actions regardless of outcomes
- Relationships - Creates and maintains partnerships based on mutual trust, respect, shared responsibility and purpose
- Improve - Recommends and Implements changes to better the enterprise and position IHN as the recognized leader in all healthcare specialties
- Nurture & Develop - Seeks & supports development opportunities for self & others, in order to fulfil current or future responsibilities more effectively
- Go Beyond Patient Expectations - Leverages skills, caregivers, financial & business information to exceed patient expectations.
- Post Graduate degree in Accounting or similar
- Certified Management Accountant (CMA), CA or ACCA preferred
- 5 years of accounting/finance experience
- 5 years of Healthcare experience in costing
- Excellent analysis skills, and the ability to collaborate with a multi-department team
- Experience manipulating large databases
- Proficient in Excel, SQL, BI Reporting
- Above average powerpoint presentation is a plus
The responsibilities described in this job description are intended to describe the general nature and level of work being performed by people assigned to this job. These statements are not intended to be exhaustive of all responsibilities, duties, knowledge, skills and abilities required of employees in the position.
This job description is not definitive and following periodic review may be subject to change; any such changes will be fully discussed with the post-holder. The post holder will be expected to be flexible to respond to change and organisational need. The post holder will also be expected to contribute to the wider corporate and organisational development needs of the organisation.
Final determination of a candidate’s qualifications and eligibility to perform the job is at the sole discretion and judgment of the institute/department executive leadership.
The post holder will be expected to ensure compliance with the requirements of the health & safety regulations of the center.
Confidentiality & Data Management Responsibilities
Every employee is required to maintain the confidentially of guests, their families and members of staff in accordance with the center’s policies. Employees of the center are legally responsible for all records gathered, created or used in the line of work. Confidentiality, security and integrity of data are required in accordance with the center’s policies.