Healthcare Finance Internship
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Job Description
About the University of Maryland Medical System (UMMS)
The University of Maryland Medical System (UMMS) is an academic private health system committed to providing compassionate, high-quality care and translating research discoveries into practical bedside applications. Partnering with the University of Maryland School of Medicine, University of Maryland School of Nursing, and University of Maryland, Baltimore, UMMS educates future healthcare professionals. It’s an integrated network delivering 25% of all hospital care across Maryland, serving urban, suburban, and rural communities. UMMS offers primary and specialty care through 11 hospitals (including the flagship University of Maryland Medical Center), a network of University of Maryland Urgent Care centers, and over 150 other locations across 13 counties. This makes academic medicine accessible to a wide range of patients.
Job Description: Healthcare Finance Internship
This internship provides hands-on experience in healthcare finance, allowing the intern to contribute to the development and implementation of UMMS policies and practices. The intern will work under the supervision of a finance leader, gaining practical experience in various areas depending on the department to which they are assigned. These may include reimbursement, regulatory policy, billing compliance, financial management, budgeting, and accounting. The internship offers the opportunity to apply theoretical knowledge to real-world situations and observe the impact of financial trends.
Principal Responsibilities and Tasks:
The intern will assist various Finance Shared Services staff in developing, analyzing, reporting, and interpreting financial and statistical information. This information is crucial for management in formulating, implementing, and executing the organization’s business plans. Specific tasks may include:
• Assisting with report preparation: Creating reports on organizational activity for internal use and external agencies like CMS, HSCRC, and MHA.
• Monitoring and investigating financial transactions: Analyzing financial data to identify potential issues or trends.
• Supporting analytical and technical tasks: Providing support to departments on volume and revenue analysis, budgeting, expense analysis, and regulatory policies.
• Developing and coordinating projects: Working on assigned projects under supervision, developing work plans, and ensuring timely completion.
• Maintaining reports and schedules: Organizing and maintaining crucial financial documents and schedules.
• Participating in meetings: Attending meetings, assisting with preparation, and distributing materials.
The internship offers exposure to various UMMS finance divisions, including:
• Corporate Finance: Internal and external financial reporting, compliance, tax strategy.
• Reimbursement & Revenue Advisory Services: Rate setting, GBR negotiation, regulatory reporting, case-mix monitoring.
• HSCRC Strategy: Monitoring HSCRC policies, influencing UMMS strategy within the HSCRC framework.
• Revenue Integrity: Billing compliance, charge capture monitoring, CDM management.
• Financial & Capital Planning: Strategic planning, capital project budgeting.
• UMMS Corporate Decision Support: Budget oversight, expense analysis, program development analysis.
• Corporate Treasury: Treasury strategy, liquidity management, investment portfolio management, debt management.
• UMMS Payer Relations & Contracting: Payer relations, contract negotiation and management, value-based care arrangements.
Qualifications:
• Enrollment in a Bachelor’s or Master’s degree program (minimum 3.0 GPA).
• Preferred major: Healthcare administration, Business, Accounting, Finance, or a related field.
• Proficiency in Microsoft Excel, Word, and Outlook.
• Strong teamwork, communication, organizational, and problem-solving skills.
• Ability to handle confidential information with integrity.
• Ability to analyze financial data using computer software.
Compensation: Flat rate of $17 per hour. Additional benefits may apply (see UMMS Benefits Guide).
