What are the responsibilities and job description for the Analyst - Healthcare Financial Analyst I position at El Rio Health?
Analyst - Healthcare Financial Analyst I
Manning House I, 450 W. Paseo Redondo, Tucson, Arizona, United States of America Req #6264 Friday, December 27, 2024
Salary : $28.30 - $38.91
Schedule : Monday through Friday
JOB PURPOSE : The Healthcare Financial Analyst I is responsible for performing financial analysis beginning with simple analysis and growing skills to handle financial analysis of varying complexity.
Essential Job Functions :
- Financial Analysis :
- Revenue Analysis : Analyze revenue patterns and reimbursement rates and identify areas where improved revenue capture can be implemented. Assist business partners in understanding their revenue drivers, including but not limited to, provider FTE productivity, revenue by payer mix, revenue per encounter, prescription revenue and revenue per prescription.
- Spending Analysis : Analyze spending patterns, track expenses, and identify areas where cost-savings can be implemented. Assist business partners in understanding their cost drivers, including but not limited to FTEs, clinic supplies, and drug supplies.
- Data Integrity Analysis : Analyze expenses incurred by departments to assist business partners in understanding their department expenses and ensure that expenses are charged to the proper department. Facilitate corrections as necessary through collaboration with business partners and the accounting team.
- Pro Forma Analysis : Develop pro forma financial statements to support business decision making.
- Budget Development and Monitoring :
- Budget Creation : Actively participate in developing budgets for various departments within the organization using revenue and expense drivers appropriate to the departments. Assist business partners in developing their budgets to meet organizational goals by allocating resources effectively.
- Budget Monitoring : Monitor actual revenue and expenses against budgeted amounts. Identify, research, and explain discrepancies and variances. Assist business partners in understanding financial performance compared to budget so they can troubleshoot results and make pivots as necessary to meet budget expectations.
- Financial Modeling :
- Forecasting Models : Prepare forecasting models to predict future financial performance based on historical data and assumptions.
- Dynamic Models : Capture the impact of changing variables on financial outcomes.
- Cost-Benefit Analysis : Evaluate the costs and benefits of specific operational decisions and capital investments.
- Probability Analysis : Assess the likelihood of different financial scenarios.
- Sensitivity Analysis : Explore how changes in key variables affect financial results.
- Supply Chain Management : Analyze costs related to medical supplies, medical equipment, and pharmaceuticals. Evaluate vendor contracts and determine financial impact of vendor options. Assist Supply Chain leaders in identifying opportunities to optimize supply chain efficiency.
- Cash Flow Management : Monitor cash inflows and outflows to ensure sufficient liquidity for day-to-day operations and maintenance of financial stability. Prepare quarterly and annual cash flow forecasts.
- Contract Management. Analyze contracts with vendors, payers, and other stakeholders. Assess contract terms and track performance against contractual obligations.
- Medicare Cost Reporting : Collect data, analyze reasonableness, support, or prepare Medicare cost report annual filing.
- Presentations : Present information in easy-to-understand format to business partners and collaborators.
- Collaboration : Work effectively with the analyst team, accounting team and operating departments to support business decision making efforts.
- Maintains a clean, safe, and hygienic work environment in compliance with all Policies and Procedures including but not limited to work areas, workstations, examination rooms, hand washing, infection prevention and control etc. for this position.
- Demonstrates an understanding of and proficiency with the application of all compliance and reporting requirements respective to Joint Commission Certification (JCC) standards.
Minimum Education and Experience :
If applicable, equivalent combination of education and experience may be considered, and must be directly related to the functions and responsibilities of the job.
Required Licenses, Certifications, and Registrations :
Preferred Education, Experience, Skills, Abilities :
Salary : $28 - $39
