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Vice President, Finance

Somatus

Somatus

Software Engineering, Accounting & Finance
Virginia, USA · McLean, VA, USA · United States
Posted on Sunday, June 23, 2024
Overview

As the largest and leading value-based kidney care company, Somatus is empowering patients across the country living with chronic kidney disease to experience more days out of the hospital and healthier at home.

It takes a village of passionate and tenacious innovators to revolutionize an industry and support individuals living with a chronic disease to fulfill our purpose of creating More Lives, Better Lived. Does this sound like you?

Showing Up Somatus Strong

We foster an inclusive work environment that promotes collaboration and innovation at every level. Our values bring our mission to life and serve as the DNA for every decision we make:

  • Authenticity: We believe in real dialogue. In any interaction, with patients, partners, vendors, or our teammates, we are true to who we are, say what we mean, and mean what we say.
  • Collaboration: We appreciate what every person at Somatus brings to the table and believe that together we can do and achieve more.
  • Empowerment: We make sure every voice gets heard and all ideas are considered, especially when it comes to our patients’ lives or our partners’ best interests.
  • Innovation: We relentlessly look for ways to improve upon the status quo to continuously deliver new solutions.
  • Tenacity: We see challenges as opportunities for growth and improvement — especially when new solutions will make a difference for our patients and partners.

Showing Up for You

We offer more than 25 Health, Growth, and Wealth Work Perks to help teammates learn, grow, and be the best version of themselves, including:

  • Subsidized, personal healthcare coverage (medical, dental vision)
  • Flexible Paid Time Off (PTO)
  • Professional Development, CEU, and Tuition Reimbursement
  • Curated Wellness Benefits supporting teammates physical and mental well-being
  • Community engagement opportunities
  • And more!

The VP of Finance will lead financial activities that support critical operational stakeholders. The key areas of emphasis for this role are Corporate Financial Planning and Analysis and operational finance requiring knowledge of MedEcon, Analytics, Clinical Performance and Provider Finance. This role is responsible for developing high-quality business strategies and operational plans, ensuring alignment with Somatus short-term and long-term objectives for our population health and other product offerings. Overseeing product management, operations, and business activities to ensure they produce the desired results and are consistent with the overall product goals driving revenue growth, margin expansion and client satisfaction. The VP of Finance will be responsible for working with all our business leader stakeholders to develop financial discipline that supports and improves financial and quality performance.

This role will require you to be on-site at our headquarters in McLean, VA.


Responsibilities

  • Drive performance management tied to key metrics/KPIs/business drivers that provide a forward-looking view into trends requiring management decisions and action
  • Improve the quality, timeliness, and reliability of financial analysis and key performance metrics available to executive management and the Board, including forecasting, budgeting, and resource allocation in all functional areas.
  • Oversee the enterprise level budget process, and the consolidation and synthetization of brand level budgets into a consolidated financial plan.
  • Automate processes and systems to achieve efficiency gains and quality improvements.
  • Support capital raising by anticipating due diligence requests, gathering and synthesizing data from brand and platform groups, and presenting data in an articulate manner that supports company narrative
  • Develop long term plans and strategies to position the company for a successful IPO (~4 year goal)
  • In partnership with Actuary / MedEcon, lead pricing and contract term development and negotiation to structure our contracts to be profitable.
  • Drive improvements in data alignment and reconciliations to improve contract and member performance.
  • Leverage analytics to identify and communicate healthcare cost trends, issues, and total cost of care drivers.
  • Assist leadership in developing and evaluating initiatives to address healthcare cost trends.
  • Develop incentive strategies for providers that are beneficial to the provider and Somatus while working within a specified budget.
  • Payment Integrity Product Areas- Clinical Claim Review, Payment Analytics, Fraud Capture and Utilization Review

Product Management

  • Oversees new product development strategy and execution
  • Responsible for ensuring appropriate product roadmap and collateral documentation is available
  • Develops appropriate business cases to obtain funding necessary for new product development

Revenue and Expense

  • Responsible for developing, managing and attaining revenue and expense budget goals
  • Manages overall product portfolio integration to the recurring revenue budgeting and forecasting process
  • Responsible for systems that identify and mitigate opportunities/risks to the PI revenue portfolio
  • Advanced financial analysis and forecasting techniques to project and optimize revenue
  • Tracking of opportunities for product expansion and measures product yield in support of annual product revenue expansion targets

Implementations

  • Product implementation team accountable for solution architecture and project management of new implementations
  • Develop provider quality and financial incentives and contractual relationships with market providers in connection with wider Somatus provider engagement and operational team.
  • Show proficiency in the Somatus Renal IQ application and speak to qualitative data outputs in provider facing meetings.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.


Qualifications

Required Education and Experience

  • 10+ years minimum experience working with Financial Teams, including significant leadership experiences within healthcare organizations.
  • Master’s Degree or FSA/ASA Preferred (Business, Healthcare Administration, Public Health)
  • Experience working in a high-growth organization.
  • Strong experience in a consultative sales environment

Knowledge, Skills, and Abilities:

  • Proven financial acumen and ability to work within a complex financial structure
  • Proven planning, preparation, and presentation skills, with established knowledge of reimbursement, health regulations, and bonus methodologies
  • Demonstrated executive presence in conducting meetings and presentations with Physicians and key stakeholders
  • Possess the ability to build trust and strong relationships across the organization and with clients
  • Self-starter in a remote work environment
  • Strong analytical, research, and organizational skills
  • Positive, collaborative, and highly organized leadership style to drive outcomes
  • Enjoys working collaboratively with team members
  • Effective written and verbal communication skills demonstrating respect and cultural awareness during interactions with clients
  • Understanding of Value-Based Contracting / Pay for Performance / Healthcare Trends
  • Demonstrated ability to manage multiple projects and meet deadlines
  • Comprehensive knowledge of all Microsoft Office applications
  • Comprehensive knowledge of Medicare, Medicaid, and commercial policies, processes, and procedures
  • Cross-departmental collaboration with briefings and area meetings; maintains frequent contact with department team

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice. Our priority is the health and safety of our members, colleagues, partners, and community. Proof of COVID-19 Vaccination is required for employment. If you are unable to be vaccinated for medical reasons or sincerely-held religious beliefs, we will consider requests for reasonable accommodations consistent with our policy, and where we are able to provide such accommodations without undue hardship to the company. All requests for proof of vaccination or for exemptions from the vaccination requirement will be subject to any limitations stipulated by current state and/or federal laws. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Somatus, Inc. provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Further, the company takes affirmative action to ensure that applicants are employed, and employees are treated during employment without regard to any of these characteristics. Discrimination of any type will not be tolerated.