Costing Manager

Job Overview

As a Costing Manager at Fakeeh Care Group in Jeddah, you will lead the analysis of costs and profitability for services, departments, and products. Your role involves ensuring precise cost allocation, developing profitability reports by service line, and assisting the management team with pricing strategies, cost control, and informed decision-making.

Primary Responsibilities

• Create, update, and manage activity-based costing models and patient-level cost analytics according to Group standards.
• Calculate costs for services, packages, and medical procedures, accurately distributing both direct and indirect expenses.
• Examine cost patterns across hospitals, specialties, and service lines to identify opportunities for cost reduction.
• Assess costs at the patient, physician, and department levels ensuring consistency and clarity in methodology.
• Assist the Group Director with analyses comparing costs to reimbursement rates from insurance and self-pay patients.
• Regularly review cost drivers to detect inefficiencies and suggest corrective measures.
• Perform profitability assessments by consultant, specialty, payer type, and facility to aid pricing and performance decisions.
• Work collaboratively with Revenue Cycle, Operations, and Clinical departments to verify revenue and cost data feeding into profitability assessments.
• Generate periodic dashboards and reports highlighting service line financial performance for Finance and hospital leadership.
• Help monitor and implement cost optimization projects aiming for financial improvements.
• Support the creation of KPIs and benchmarks to measure cost effectiveness and profitability at hospital and departmental tiers.
• Prepare financial feasibility analyses and business cases for launching new services and medical initiatives.
• Conduct scenario and sensitivity assessments to forecast financial impacts of investments or pricing adjustments.
• Provide in-depth financial insights to assist strategic decisions on growth, pricing, and resource distribution.
• Assist in constructing ROI and payback period models for capital and strategic investments.
• Support integrating costing tools into ERP systems like Oracle or SAP and business intelligence platforms including Power BI and Hyperion.
• Maintain reliable interfaces between financial, clinical, and operational datasets.
• Ensure timeliness and accuracy in costing and profitability data complying with internal schedules.
• Maintain compliance with Group policies, IFRS, SOCPA, and CMA/Tadawul regulations.
• Prepare documentation and reconciliations for audits both internal and external.
• Collaborate with hospital finance teams to provide guidance and training on costing and profitability methodologies.
• Perform other relevant duties as assigned within the role’s parameters.

Qualifications and Skills

• Demonstrated analytical capabilities.
• Strong communication abilities.
• Proven capability to work effectively under pressure.
• Exceptional attention to detail.
• Proficiency in Microsoft Office Suite, particularly Excel and PowerPoint.

Experience and Education

• A minimum of 5 years in financial planning, costing, or analytical roles within finance.
• Bachelor's degree in Accounting, Finance, or a related discipline.

Languages and Certifications

• Fluency in both written and spoken English and Arabic.
• Professional certifications such as SOCPA, ACA, ACCA, or CPA are required.