Summary:
This position is responsible for data mining and analytics
to support the Revenue Cycle Management function of the company. This individual
will assimilate data from multiple systems/sources and assist with analysis and interpretation of complex datasets using qualitative and quantitative methods. You
will aid in the automation, development, implementation, maintenance, and
delivery of revenue cycle reports, dashboards and reporting packages to the revenue
cycle and finance teams. The Sr. Financial Analyst will work to enhance the
utilization of existing reporting tools and develop new tools to aid the organization
in recognizing and maximizing revenue and reimbursement opportunities. This
individual will need a thorough understanding of healthcare revenue cycle and
financial analytics and be able to provide data driven insights and actionable
information to drive improvement, increase efficiency, and implement best
practices.
Responsibilities:
- Assess productivity and effectiveness of third
party revenue cycle vendors and provide actionable insights on critical
deficiencies and areas of improvement. - Collaborate with CBO and billing teams to develop
monthly revenue reporting. - Model and track impact of payor contracts; model
and track impact of charge master updates; create recommendations and provide
insight into potential changes. - Analyze variances to compare actual to expected reimbursement,
and benchmarking. - Help update and maintain various fee schedules
and reimbursement models for Medicare and commercial insurance payers. - Complete financial reporting and analysis
related to reimbursement, service line profitability, and patient level
reporting. - Assist with annual budget and monthly forecasting
and closing process. - Prepare, interpret and analyze financial data,
business metrics, and report on KPI. - Gather operational and workflow requirements to
document, implement and monitor workflow processes. - Ability to understand operational business
processes and build technology and reports to track key performance indicators,
model changes in key variables and analysis that impact on revenue. - Prepare financial and statistical reports and
monitor trends and variances. - Manage and manipulate data as required to
maintain financial models. - Reviews and understands fluctuations across the
organization delivering cost of care and variations in cost of care.
Differentiates impact of rate versus utilization variations. - Analyze data for reasonableness and integrity.
- Create dashboards with RCM, operations, clinical
and financial reporting. - Complete special projects and provide support as
requested.
*The company reserves the right to add or
change duties at any time.
Job Qualifications:
- Education: Bachelor’s degree in Accounting,
Finance, Mathematics, Data Science, Statistics – Masters Preferred - Experience: 3 Years financial planning and
analysis, Revenue Cycle, Reimbursement, Cost analysis in a multi-facility
healthcare system (hospital, freestanding ER or healthcare related field) - Experience with relational databases and
knowledge of query tools and statistical software is required. - Experience in hospital/physician billing for in
and out-of-network facilities, and strong knowledge of Medicare preferred. - Ability to manipulate large sets of data in
multiple databases is required. - Ability to utilize Microsoft Excel and Power
BI on a routine basis and will need to be an advanced user of these products. - Have working knowledge of GoRev, Collaborate MD, NexGen, Centricity,
Evident, is a plus. - Ability to collaborate across all business
functions - Excellent verbal and written communication
- Problem solving
- Time management
- Detailed and Organizational skills
- Strong Analytical skills
- Ability to multi-task and meet deliverables
timely - Understanding of Medical terms and acronyms
- Knowledge of State, Medicare, and other external
regulatory and accreditation agencies. - Reasoning skills and ability to articulate logic
behind decisions - Advanced Microsoft Excel, Power BI
- Work under minimum supervision
- Flexible work schedule
Experience:
- Revenue cycle management: 3 years (Required)
- Financial analysis: 3 years (Required)Skills:
Work Location:
- In-Office (flexible)
- hybrid (Remote/In-Office)
Schedule:
- 8 hour shift
- Day shift
- Monday - Friday
Supplemental pay types:
- Bonus pay: Discretionary, Up to 25% of Base Pay