Manager of Financial Analytics

Overview

Manager of Financial Analytics

Full Time, 80 Hours Per Pay Period, Day Shift

Covenant Health Overview:

Covenant Health is the region’s top-performing healthcare network with 10 hospitals, outpatient and specialty services, and Covenant Medical Group, our area’s fastest-growing physician practice division. Headquartered in Knoxville, Covenant Health is a community-owned integrated healthcare delivery system and the area’s largest employer. Our more than 11,000 employees, volunteers, and 1,500 affiliated physicians are dedicated to improving the quality of life for the more than two million patients and families we serve every year. Covenant Health is the only healthcare system in East Tennessee to be named a Forbes “Best Employer” seven times. 

Position Summary:

The Manager of Financial Analytics is responsible for supporting value creation through leading the service line financial and quality analytics team for Covenant Health.  This role involves extensive work with executive and senior leaders, physicians, and chief administrative officers to ensure that financial opportunities are identified, and performance is improved and optimized. This role facilitates consistency in enterprise financial performance analysis and requires not only a deep understanding of a variety of important datasets, but also the ability to make large and/or complex data more accessible, understandable, and usable to leaders within the enterprise.

Recruiter: Kathleen Rice || kkarnes@covhlth.com || 865-374-5386

Responsibilities

• Directs Financial Analytics team consisting of both service line financial analytics and quality analytics and serves as financial leader for assigned service lines. Responsible to identify opportunities for improvement across the enterprise and serve as a change agent to achieve improved financial results.

• Develops objectives for the department and initiates specific activities to meet them. Reviews department performance in relation to goals.

• Demonstrates continuous learning and maintains a highly-skilled workforce by aligning resource plans with business objectives, overseeing recruitment, selection, and development of talent, and preparing individuals for growth opportunities and advancement.

• Is a trusted thought partner and analytical advisor to enterprise leadership, interacting with all business units, and corporate executives on related duties.

• Partners with the Information Technology department regarding data strategies, developing KPIs for enterprise projects and implementation, and maintenance of software systems.

• Co-Leads the Performance Analytics Oversight Committee in developing Covenant’s analytics strategy along with participation in other analytics groups.

• Develops and maintains consistent data elements throughout the enterprise, continuously auditing data for integrity and collaborating with Quality, IT, and other pertinent departments to ensure consistency. Oversees use and training related to financial analysis to foster consistency and quality expectations for the enterprise.

• Works with industry vendors, consultants, and partners to understand data warehousing and business intelligence technology trends, identifying new technology development and data analysis techniques that may be useful.

• Leverages encounter-level datasets to understand key financial drivers for designated service lines, further researching and identifying underlying causes of strong- or poor-performing services. Collaborates with accounting and finance to develop service line financial performance reporting.

• Identifies opportunities for improvement for designated service lines across Covenant by analyzing and interpreting complex datasets and KPIs to recognize trends, patterns, and opportunity areas. .

• Develops positive, collaborative relationships with service line constituents including service line administrative and financial leaders, physicians, and facility leadership, resulting in well-informed perspectives and rapport to guide leadership towards desired recommendations.

• Prepares and/or reviews statistical and financial reports for the service line at each hospital, as well as for the enterprise. These reports will include profitability of major services of the service line.

• Provides a strong knowledge base of service lines and their clinical components, including pertinent clinical quality measures. Maintains knowledge of regulatory and economic changes and new trends in service lines and assesses their potential impact on operations.

• Applies knowledge of reimbursement value analysis for high-cost supplies and other operational and financial factors related to assigned service lines to perform role effectively.

• Evaluates the need for new equipment, technology, or services through submissions to the Clinical Quality Value Analysis (CQVA) team by modeling new supply items using expertise in cost accounting, reimbursement, coding, research, and levels of care, considering various scenarios as needed to optimize organization decision making.

• Designs scorecards as an enterprise tool for evaluation and communication of strategic objectives that align with our mission and enterprise goals.

• Prepares and delivers effective presentations to groups including enterprise service line meetings, executive leadership, facility medical staff meetings, and operational teams to communicate key findings, opportunities, and service line goals.

• Attends professional/society/business meetings. Participates in in-house training and development activities including service on system-wide administrative and operational committees. Maintains professional growth through continuing education and attending workshops, seminars, conferences, and classes.

• Maintains and communicates analysis standards for Covenant Health. Promotes the adoption of consistent practices enterprise wide. Communicates and guides business units on appropriate financial analysis standards to maintain consistency in financial reporting across business units.

• Follows policies, procedures, and safety standards. Completes required education assignments annually. Works toward achieving goals and objectives and participates in quality improvement initiatives as requested.

• Performs other duties as assigned.

Qualifications

Minimum Education:

BS in Business, Accounting, Finance, or related discipline from an accredited academic program. Advanced Degree or CPA Required.

Minimum Experience:

Eight (8) to ten (10) years of healthcare financial experience.  Healthcare experience, preferably in a hospital setting, required. Experience with leading system project teams, clinical indicators and benchmarks, advanced report writing skills, detailed operational and processing knowledge in a healthcare financial environment.  Strong demonstrated analytical, numerical, and computer capabilities.  Effective human relations and strong communication skills.  Two (2) or more years of experience in leadership and/or supervisory skills.   

Licensure Requirement:

Advanced Degree or CPA required.