Costing Manager
Fakeeh Care Group
Date: 5 hours ago
City: Jeddah
Contract type: Full time
Description
Job Purpose:
Responsible for leading the costing and profitability analysis of services, departments, and products across Fakeeh Care Group. Ensures accurate cost allocation, development of service line profitability reports, and supports management in pricing, cost optimization, and decision-making.
Key Responsibilities And Duties
Skills And Abilities
Job Purpose:
Responsible for leading the costing and profitability analysis of services, departments, and products across Fakeeh Care Group. Ensures accurate cost allocation, development of service line profitability reports, and supports management in pricing, cost optimization, and decision-making.
Key Responsibilities And Duties
- Develop, maintain, and update activity-based costing (ABC) and patient-level cost models in alignment with Group methodology.
- Conduct costing of services, packages, and medical procedures, ensuring accurate allocation of direct and indirect costs.
- Analyze cost trends across hospitals, service lines, and specialties, highlighting areas for improvement.
- Evaluate cost per patient, doctor, and department, ensuring consistent methodology and transparency.
- Support the Group Director in preparing cost vs. reimbursement analyses, comparing actual costs against insurance tariffs and self-pay rates.
- Perform periodic reviews of cost drivers to identify inefficiencies and recommend corrective actions.
- Conduct profitability analysis by consultant, specialty, payer (insurance/cash), and facility to support pricing and performance improvement decisions.
- Collaborate with Revenue Cycle, Operations, and Clinical teams to validate revenue and cost data used in profitability reporting.
- Prepare periodic profitability dashboards and reports, summarizing service line performance for Group Finance and hospital management.
- Support the Director in identifying and tracking cost optimization initiatives, ensuring delivery of financial improvement targets.
- Assist in the development of KPIs and benchmarks for cost efficiency and profitability at hospital and departmental levels.
- Prepare financial feasibility studies and business cases for new services, medical programs, and projects.
- Conduct scenario and sensitivity analyses to evaluate the financial impact of new investments or pricing changes.
- Provide detailed financial insights to support strategic decisions related to expansion, pricing, and resource allocation.
- Assist in building ROI and payback models for capital investments and strategic initiatives.
- Support the integration of costing and profitability tools within the Group's ERP (Oracle/SAP) and BI platforms (Power BI, Hyperion).
- Maintain accurate data interfaces between financial, clinical, and operational systems.
- Ensure costing and profitability data are timely, accurate, and aligned with Group reporting timelines.
- Ensure all costing and profitability processes comply with Group policies, IFRS, SOCPA, and CMA/Tadawul requirements.
- Support internal and external audits by preparing necessary documentation and reconciliations.
- Work closely with hospital finance teams to train and guide them on costing and profitability tools and methodologies.
- Other duties as assigned within the scope of the job.
Skills And Abilities
- Strong analytical skills.
- Communication skills.
- Ability to work under stress conditions and to successfully handle stressful situations efficiently and effectively.
- Attention to detail.
- Proficient in Microsoft Office Applications (Excel, PowerPoint, etc.).
- 5+ years of experience in financial planning, costing, and analysis roles.
- Bachelor's degree in Accounting, Finance, or a related field.
- Excellent command of oral and written English and Arabic.
- SOCPA, ACA, ACCA, or CPA
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