What are the responsibilities and job description for the SR. FINANCIAL ANALYST position at Westchester Medical Center?
Job Summary : The Senior Financial Analyst will report to the Senior Director of System Implementation & Analytics for the Managed Care Department at Westchester Medical Center (WMC) supporting the management reporting functions and facilitating communications between the Patient Accounting, Patient Access, Health Information Management, Revenue Integrity and the Cerner Consultants while working as a member of the Managed Care team. The successful candidate will also measure, monitor and manage the expected reimbursement system, prepare monthly statistics, and develop contract rate models in support of Managed Care contract negotiations.
Responsibilities :
- Responsible for maintaining managed care contracts in system including reimbursement formulas / calculations in accordance with payment methodology (DRG, Medicare / Medicaid, Managed Care - Commercial, etc,). Validates payment rate calculations and prepares queries and reports from application systems as required, gather & analyze data to assist in the preparation of consolidated statistical reporting.
- Writes and maintains reimbursement formulas / calculations based upon managed care or third party agreements including user notes and other custom documentation about departmental systems and expected output.
- Participates in Implementation of contract management system for hospitals transitioning from other software systems.
- Applies third party methodologies in order to analyze profitability of the various reimbursement methodologies.
- Use various reporting tools to perform contract error analysis and classify patient population for accurate reimbursement.
- Prepares, consolidates, and audits statistical information, net revenue, and cash collection reports for the monthly, quarterly, and year-end financial close.
- Provides guidance, instruction, and reviews work of other Financial Analyst(s).
- Perform financial analysis and management projects as required.
Qualifications / Requirements :
Experience : A minimum of three to five years financial analysis, experience working within a healthcare provider or insurance payer industry preferred. Advanced user of Microsoft Office products (Excel, Access)
Education : Bachelor's degree in Finance, Accounting, Business Administration or a closely related field, required. Master's Degree , preferred.
