Senior Financial Analyst
Job Title:Senior Financial Analyst
Department:8214 - Decision Support
Job Category:Decision Support
FTE:1.00 - 40 hours
Schedule:40 hrs/wk; Monday - Friday, Days
FLSA Status:Exempt (Salaried)
Under general direction, preparation of detailed profit-&-loss analysis, financial analysis and overall business analysis for both internal and external users of financial information. Responsible for collecting and validating data for the Hospitals finance function to include the following areas: service line analysis and cost accounting, internal and external financial accounting, business planning, budgeting, reimbursement analysis and cost report preparation.
Bachelor's Degree in Accounting or Finance or related field is required.
Minimum Work Experience
Five years of experience working in healthcare finance is required.
Demonstrated computer skill with in-depth knowledge of financial software packages is required.
Required proficiency with spreadsheets and report writing software.
Excellent planning, organizational and communication (oral and written) skills essential.
Knowledge of hospital third-party reimbursement preferred.
Thorough knowledge of generally accepted accounting principles.
Possess strong project management skills, business analysis skills, and interpersonal skills.
Independently exercises good judgment and decision making on relevant issues within scope of responsibility.
Responsible for the coordination, appropriate maintenance and on-going development of all aspects of the Hospital's cost accounting system.
Collaborates with department managers to certify the accuracy of the financial elements (RVU's and costing standards) and refine the system allocating direct and indirect costs to ensure appropriate contribution margin and service line analysis.
Perform extensive data mining and abstracting of financial and clinical information from various decision support tools for the purpose of capital budgeting, business plan development (proforma and retrospective), service line reporting and analysis, charge master support, revenue and reimbursement analysis, and ad hoc reporting needs of the department.
Assists department managers with the preparation of rolling forecasting and development of long range financial plan.
Provide guidance and expertise for selection of volume indicators to use as drivers for rolling forecast.
Analyzes costs and helps to develop programs to assure compliance with financial limitations.
Leads the process for preparing annual cost report work papers.
Directs the coordination of reimbursement audits with internal and external auditors.
Works to minimize the time involved in the audit and to minimize interruptions of daily operations.
Works as a liaison between the auditors and other Departments in obtaining information for completion of the audit.
Coordinates use of external consultants as necessary to prepare cost report and reimbursement program appeals.
Consults with management and consultants to compile data necessary for accurate external reporting to regulatory agencies.
Assists in evaluating new or modified financial systems to provide complete accurate reports of service line profitability and quality outcomes.
Works closely with vendor during the installation or upgrade of such systems.
Tracks, analyzes and interprets key performance indicators.
Prepares ad-hoc reports to assists with decision making.
Preparation of scorecard and financial progress reports for Hospital Leadership and Medical Staff to include standard and ad-hoc reports.
Complies data on selected performance indicators utilizing appropriate statistical techniques.
Develops and presents reports that clearly display trends and outcomes over time.
Responsible for maintaining the Medical Center's productivity system.
Provides senior management and department managers with performance measure/productivity reports on a quarterly basis.
Provides detail analysis and coordinates productivity training for department managers.
Guides the preparation and implementation of productivity policies and procedures.
Assists with the evaluation of management requests for unbudgeted FTE's based on productivity results.
Responsible for maintaining the Medical Center's benchmarking system.
Performs research to collect external indicators for assessment of performance and establishment of benchmarks.
Provides senior management and department managers with benchmarking reports on a quarterly basis.
Provides detail analysis and coordinates benchmarking training of department managers.