Costing Manager

Costing Manager – Drive Strategic Financial Excellence in Healthcare Operations

As the **Costing Manager** within Fakeeh Care Group, you will play a pivotal role in shaping the financial strategy of our healthcare operations by leading comprehensive costing and profitability analyses. This position demands a strategic mindset, analytical rigor, and a deep commitment to optimizing financial performance across our diverse service lines, departments, and medical specialties. You will be responsible for developing data-driven insights that empower leadership in making informed pricing, cost optimization, and resource allocation decisions—ensuring our organization remains financially resilient and competitive in a dynamic healthcare landscape.

In this dynamic role, you will spearhead the implementation of advanced costing methodologies, including Activity-Based Costing (ABC) and patient-level cost models, aligning them with Group-wide standards to enhance accuracy and transparency. Your expertise will be instrumental in evaluating cost trends across hospitals, specialties, and service lines, identifying inefficiencies, and proposing actionable solutions to drive operational efficiency. By collaborating closely with cross-functional teams—including Revenue Cycle, Operations, and Clinical—you will validate critical financial data, ensuring that profitability reports reflect the true economic performance of our services.

Your responsibilities extend beyond internal reporting to strategic decision-making. You will prepare cost vs. reimbursement analyses, comparing actual expenditures against insurance tariffs and self-pay rates, while conducting profitability assessments by consultant, specialty, payer type, and facility. These insights will directly support pricing strategies, performance improvements, and the launch of new services or medical programs. Additionally, you will develop financial feasibility studies and business cases for high-impact initiatives, leveraging scenario and sensitivity analyses to evaluate financial risks and opportunities.

To ensure long-term scalability, you will assist in integrating costing and profitability tools within our ERP (Oracle/SAP) and BI platforms (Power BI, Hyperion), maintaining seamless data interfaces between financial, clinical, and operational systems. Compliance with regulatory standards—including IFRS, SOCPA, and CMA/Tadawul requirements—will be a cornerstone of your work, alongside supporting internal and external audits with meticulously prepared documentation.

As a mentor and knowledge leader, you will also train and guide hospital finance teams on costing methodologies, fostering a culture of financial discipline and analytical excellence across the organization. This role is ideal for a detail-oriented professional who thrives in a fast-paced environment, where precision, strategic thinking, and collaborative problem-solving are essential to driving meaningful financial outcomes.

Key Responsibilities:

• Develop and refine Activity-Based Costing (ABC) and patient-level cost models in alignment with Group methodologies, ensuring consistency and scalability.
• Conduct in-depth cost analyses for services, medical procedures, and packages, allocating direct and indirect costs with precision to support pricing and cost optimization strategies.
• Identify cost inefficiencies through trend analyses across hospitals, specialties, and departments, recommending data-backed solutions to enhance operational efficiency.
• Prepare strategic financial reports, including cost vs. reimbursement analyses, profitability dashboards, and KPI benchmarks for hospital and departmental performance.
• Collaborate with cross-functional teams to validate revenue and cost data, ensuring alignment between clinical, operational, and financial systems.
• Develop financial models for new services, programs, and capital investments, conducting scenario analyses to assess financial viability and ROI.
• Support ERP and BI integration, maintaining accurate data interfaces and ensuring compliance with regulatory and Group reporting standards.
• Train and mentor finance teams on costing methodologies, fostering a data-driven culture across the organization.
• Support audit processes by preparing reconciliations and documentation for internal and external reviews, ensuring transparency and accountability.

Qualifications and Skills:

• 5+ years of experience in financial planning, cost analysis, and profitability management within healthcare or a related industry.
• Bachelor’s degree in Accounting, Finance, or a closely related field; advanced certifications (e.g., SOCPA, ACA, ACCA, or CPA) are a significant advantage.
• Proficient in Microsoft Office Suite, with advanced proficiency in Excel for complex financial modeling and data analysis.
• Strong analytical and problem-solving skills, with the ability to interpret large datasets and derive actionable insights.
• Exceptional communication skills, both written and verbal, with fluency in English and Arabic to facilitate collaboration across diverse teams.
• Ability to thrive under pressure, delivering high-quality work in fast-paced environments while maintaining attention to detail.
• Familiarity with healthcare finance, including revenue cycle management, insurance reimbursement models, and regulatory compliance.
• Experience with ERP and BI tools (e.g., Oracle, SAP, Power BI, Hyperion) is highly desirable.

This role is perfect for a forward-thinking financial professional who is passionate about leveraging data to drive operational excellence and strategic growth in healthcare. Join us in shaping the future of cost-efficient, high-impact healthcare delivery.