Financial 2024 Summer Internship

What is Financial Services?

The IU Health System Financial Team (SFT) provides financial management support and oversight for all financial matters across the system. In general, system financial teams support IU Health as good stewards of financial resources to ensure our mission is funded and future healthcare needs are met. 

Our goal at IU Health is to provide you a deeper understanding of one of the teams below that matches your interests with our needs, in addition provide you high-level exposure to all System Financial Team areas in our organization.

Which Finance area speaks to you?

General Accounting

• Supports IU Health's business units with monthly reporting on financial performance
• Performs financial planning and pro forma development
• Offers training and support to department leaders in managing their budget
• Ensures IU Health's compliance with federal, state, and local laws and regulations for many tax areas, including payroll, sales and use tax, property tax, income tax, etc.

 

Revenue Cycle Services 

• Supports all financial aspects of a patient's care including clinical support and payor (insurance) relationships in optimizing revenue and patient support 
• Provides billing and collections services to ensure quality patient financial services
• Offers a personalized cost estimate service to support patients in making informed decisions regarding their care before they receive healthcare services

 

Internal Audit 

Participates in a broad-based Internal Audit program that evaluates the efficiency and effectiveness of IU Health's operations. Responsibilities will include but not be limited to:

• Conducts independent risk assessments 
• Applies internal control frameworks and related leading practices to audit engagements
• Evaluates the design and operating effectives of internal control systems, including Internal Control over Financial Reporting (ICFR)
• Performs audit procedures, including identifying and defining issues, reviewing and analyzing evidence and documenting client processes and procedures
• Identifies, develops, and documents audit issues and recommendations for improvement 
• Assists in communicating the results of audit and consulting engagements via written reports and oral presentations

 

Strategic Financial Planning and Analysis

• Uses data to guide the allocation of IU Health's resources in employees, finances, and facilities/equipment across the system
• Manages annual financial planning and long-range planning strategy
• Forecasts project pro forma cash flows (IRR and NPV)
• Provides IU Health leaders with performance reports to identify opportunity for a number of revenue-generating and expense management initiatives

 

What could you be doing as a finance intern at IU Health? A couple examples:

• Analyze data for interpretation, reporting, and modeling
• Monitor and process general ledger, payroll, and patient activities for patient costing
• Interpret trends or patterns in complex data sets with a high degree of accuracy
• Prepare pro forma (future cost estimates) based on historical, comparative, and projection data
• Gather expertise around SQL, Oracle, Power BI, and Excel modeling to support ongoing analytics initiatives

 

How can you help in the mission of IU Health's Financial Services?

All interns are not only assigned to a specific area, but also a specific project that the team is working on to fully experience the application of the tasks involved. Interns will collaborate with leadership and other team members during their time spent with the System Financial Team. 

 Requires current enrollment in an Associate's, Bachelor's, and/or Master's Degree Program.
 Requires proficiency in Microsoft Office programs.

Indiana University Health is Indiana's most comprehensive health system, with 15 hospitals and nearly 40,000 team members serving Hoosiers across the state. We're looking for team members who are inspired by challenging and meaningful work for the good of every patient. People who are compassionate and serve with a purpose. People who aspire to excellence every day.

• Indiana University Health has nearly 40,000 team members, including more than 3,600 physicians and 1,200 advanced practice providers, and we're home to the largest nursing network in Indiana with more than 9,000 nursing team members at over 800 sites of care.
• IU Health is ranked No. 1 in Indiana by U.S. News & World Report, Riley Children's Health is ranked among the top children's hospitals in the country by U.S. News & World Report.
• A unique partnership with the Indiana University School of Medicine - one of the nation's largest medical schools - gives patients access to groundbreaking research and innovative treatments, and it offers team members access to the latest science and the very best training - advancing healthcare for all.
• With 15 hospitals, including seven with Magnet designation and eight with Pathways to Excellence designation, our team members are leading the way through excellence.
• At Indiana University Health, your personal and professional growth is a top priority. You will have access to many diverse opportunities to learn and develop in meaningful ways that matter most to you, such as advanced clinical training, leadership development, promotion opportunities and cross training development.
• Indiana University Health is invested in the lives of Hoosiers, leading the transformation of healthcare to make Indiana one of the nation's healthiest states.