Finance Manager (Medical)

Job Purpose The Finance Manager will be responsible for managing and overseeing the financial operations of the healthcare/medical business, ensuring financial accuracy, strong internal controls, healthy cash flow, profitability, and compliance with applicable financial, tax, and healthcare-related requirements. The role will provide financial leadership across clinics/medical operations, with strong ownership of financial reporting, budgeting, forecasting, cash flow, revenue cycle management, insurance claims, collections, cost control, branch profitability, and financial planning .

Preferred Healthcare Experience: Candidates with experience in medical clinics, hospitals, dental centers, aesthetic/dermatology clinics, healthcare groups, insurance companies, or healthcare service providers will be highly preferred.

Key Responsibilities:

Lead and manage the overall Finance & Accounting function across the medical/healthcare operations.

Oversee the complete accounting cycle, including General Ledger, Accounts Payable, Accounts Receivable, Cash & Bank, and month-end/year-end closing .

Prepare and review monthly, quarterly, and annual financial statements and management reports .

Prepare and monitor annual budgets, rolling forecasts, and business plans in coordination with management and operational departments.

Develop and monitor clinic/branch-level P&L statements , profitability analysis, revenue trends, operating expenses, and financial performance.

Monitor healthcare revenue streams including cash patients, insurance companies, corporate contracts, medical services, packages, and other revenue sources .

Oversee the medical revenue cycle , including billing, claims submission, rejection management, collections, settlements, and outstanding balances.

Coordinate with Medical Operations, Insurance, Front Office, and Billing teams to ensure accurate revenue capture and timely collection.

Monitor insurance claims aging , denial rates, rejected claims, pending approvals, and settlement timelines, and identify actions to improve collection performance.

Establish and monitor revenue recognition and billing controls to ensure that all delivered medical services are accurately captured and billed.

Monitor AR aging and collection KPIs , and develop action plans to reduce overdue receivables and improve cash conversion.

Manage and monitor cash flow, liquidity, working capital, and treasury activities across the business.

Review and approve payment plans, supplier payments, cash disbursements, and financial commitments within the approved authority matrix.

Monitor operating and medical expenses and implement effective cost-control and cost-optimization initiatives .

Analyze major cost components such as medical supplies, pharmaceuticals, consumables, outsourced services, payroll, rent, utilities, and other operating expenses .

Monitor inventory-related financial controls and coordinate with Operations/Procurement to minimize stock variances, wastage, expiry, and unnecessary working capital exposure .

Evaluate the financial impact of new branches, medical services, equipment purchases, expansion plans, and major operational initiatives.

Prepare financial models, feasibility studies, investment analysis, and business cases for new projects and expansion opportunities.

Analyze actual results versus budget and forecast, identify significant variances, and provide actionable recommendations to management.

Develop and monitor key financial and operational KPIs, including revenue growth, gross margin, EBITDA, collection efficiency, AR days, claim rejection rate, expense ratios, branch profitability, and cash conversion .

Provide management with regular financial dashboards and business performance analysis to support strategic decision-making.

Ensure accurate accounting treatment and appropriate financial controls for medical equipment, fixed assets, depreciation, leases, and capital expenditures.

Oversee payroll accounting and ensure payroll-related entries, provisions, and reconciliations are accurate and properly recorded.

Ensure compliance with applicable tax regulations, VAT requirements, accounting standards, and statutory reporting obligations .

Coordinate with external auditors, tax consultants, banks, insurance companies, and other financial institutions as required.

Lead internal and external audit processes and ensure timely resolution of audit observations and financial control gaps.

Establish, review, and enhance financial policies, procedures, approval matrices, segregation of duties, and internal control frameworks .

Identify financial risks, control weaknesses, and potential fraud indicators and implement appropriate preventive and corrective actions.

Ensure proper documentation and audit trails for all financial and revenue-cycle transactions.

Review contracts and commercial agreements with suppliers, insurance companies, corporate clients, and service providers from a financial perspective.

Support negotiations related to payment terms, pricing, collection terms, insurance settlements, and commercial agreements .

Provide financial guidance to operational managers and clinic management regarding budgets, spending, profitability, and cost efficiency.

Lead, supervise, and develop the Finance team, ensuring clear objectives, proper delegation, performance monitoring, and continuous development.

Ensure timely completion of monthly closing activities and accurate financial reporting within defined deadlines.

Continuously improve financial processes, systems, reporting structures, and automation to enhance efficiency and data accuracy.

Ensure confidentiality and proper governance of all financial, payroll, patient-related billing, insurance, and commercial information.

Bachelor’s degree in Accounting, Finance, Commerce, or a related field .

Professional certification such as CPA, CMA, ACCA, or equivalent is highly preferred.

7–10+ years of progressive experience in Finance & Accounting, with at least 3 years in a Finance Manager or equivalent managerial role .

Proven experience in the Healthcare, Medical, Hospitals, Clinics, or Healthcare Services sector is highly preferred.

Strong hands-on experience in financial reporting, budgeting, forecasting, cash flow management, and management accounting .

Strong knowledge of revenue cycle management, medical billing, insurance claims, collections, and healthcare financial operations .

Technical Skills Advanced knowledge of accounting principles and financial reporting.

Strong expertise in financial analysis, budgeting, forecasting, and financial modeling .

Advanced Excel skills including Pivot Tables, Power Query, Power Pivot, XLOOKUP, SUMIFS, financial models, and dashboards .

Strong ERP experience such as SAP, Oracle, Microsoft Dynamics, Odoo, or similar systems .

Good knowledge of Power BI or other BI/reporting tools is preferred.

Strong understanding of VAT, taxation, audit, internal controls, and compliance .

Experience with healthcare/medical billing or ERP systems is highly preferred.

Core Competencies Strategic financial thinking

Strong leadership and people management

Business and commercial acumen

Analytical and problem-solving skills

High level of accuracy and attention to detail

Strong decision-making capabilities

Financial risk management

Strong communication and stakeholder management

Integrity and confidentiality

Ability to work under pressure and manage multiple priorities