Sr Financial Analyst

Job description

At Houston Methodist, the Senior (Sr.) Financial Analyst position is responsible for maintaining and performing complex data analysis related to the clinical or financial performance of the assigned entity or hospital and/or contractual relationship. The Sr. Financial Analyst is also responsible for independently compiling and reporting information as requested by Financial Accounting, Internal Audit, Revenue Cycle, their department and entity management or administration. The Sr. Financial Analyst works collaboratively with teams and may serve as a liaison with Information Technology Business Intelligence and other stakeholders, as needed. This position is actively involved in developing and advancing best practices and tools for business analysis. The Sr. Financial Analyst highlights performance issues, identifies problems and researches solutions and makes recommendations to management for continuous improvement. Reports statistical information in graphical and other presentation formats. Other responsibilities may include the assistance with annual operating budgets and maintenance of monthly dashboards of key indicators and external benchmarks. May also be assigned to additional responsibilities; such as payer reimbursement analysis and financial reconciliation. FLSA STATUS Exempt QUALIFICATIONS EDUCATION Bachelor’s Degree in finance, accounting, healthcare administration, business administration or related field. EXPERIENCE Three years of financial, budget or cost accounting analysis experience required; experience in a health care environment preferred LICENSES AND CERTIFICATIONS Preferred CHFP - Certified Healthcare Financial Professional (HFMA) and CPA - Certified Public Accountant - State Licensure SKILLS AND ABILITIES Demonstrates the skills and competencies necessary to safely perform the assigned job, determined through on-going skills, competency assessments, and performance evaluations. Sufficient proficiency in speaking, reading, and writing the English language necessary to perform the essential functions of this job, especially with regard to activities impacting patient or employee safety or security. Ability to effectively communicate with patients, physicians, family members and co-workers in a manner consistent with a customer service focus and application of positive language principles. Advanced analytical thinking and creative problem solving and ability to define a variety of approraches to business problems. Advanced knowledge of business process analysis, system requirements, data modeling and functional design. Strong project management skills. Strong statistical analysis and data reductions skills. If assigned to Hospital: Familiarity with hospital patient data bases and relationship to other financial and non-financial systems preferred. Working knowledge of cost accounting system(s). ESSENTIAL FUNCTIONS PEOPLE ESSENTIAL FUNCTIONS Interacts with all levels within the department, other institutional departments, and across the organization as well as outside companies to resolve problems/errors or questions regarding basic accounting reconciliation items or financial performance in a timely manner. Serves as subject matter expert for assigned entity(s) (Hospital, Physician Organization, Research Institute, Academic Institute, HM Foundation, MOB, for Clinical and Financial reporting systems. Serves as role model and mentor to more junior team members. Supports training and onboarding of new team members. SERVICE ESSENTIAL FUNCTIONS Assists department administrator, faculty members or department, hospital leadership and entity leadership in managing the departmental budget. Extracts actual and budget financial accounting General Ledger (G/L) data or financial data from appropriate sources to report and reconcile with appropriate leadership. Generates accurate and timely reports. QUALITY/SAFETY ESSENTIAL FUNCTIONS Reviews revenue projections, budget revisions, etc., for physician practice, academic department or assigned hospital or entity department(s) Develops, monitors and reports key system operational indicators and recommends improvements. Highlights performance issues, identifies problems and researches solutions. Makes recommendations to management for improvement. Follows all internal audit requirements for appropriate system applications. Utilizes/enhances tools to improve the accuracy of financial analytics and enhance revenue opportunities. Submits invoices and follow-up with industry partners as needed. In addition, prepares necessary journal entries for coordinator effort and Principal Investigator (PI) oversight as appropriate. FINANCE ESSENTIAL FUNCTIONS Performs one or more of the following: • Supports and develops auditing, reporting and contract modeling tools as needed for identification and analysis of rate and/or fee schedule auditing, financial performance and contract performance as well as modeling and analysis of potential opportunities. • Maintains monthly dashboard of key indicators and external benchmarks as defined by management. Prepares and maintains revenue models. Compiles information needed for organization profit and loss statement as required. • Reviews contracts, calculates provider productivity bonuses/compensation models as appropriate. • Assists in preparation of gift, grant and contract budget proposals as needed. Assists in the oversight of department’s financial files for all grant and donor funding. • Ensures/verifies that all faculty, staff and research personnel are charged to the appropriate funding source via submission of a salary re-allocation form as appropriate. Utililzes resources effectively and efficiently, demonstrating financial stewardship. Manages own time effectively and prioritizes work to achieve maximum results in a timely manner. GROWTH/INNOVATION ESSENTIAL FUNCTIONS Maintains and monitors procedures and Standards of Practice (SOP’s) for reconciliation process. Maintain working knowledge of hospital and physician compensation methodologies and affecting government regulations, as applicable. Identifies areas for improvement and makes recommendations to management. Seeks out opportunities to grow knowledge of cost accounting system, clinical trials management systems or others and their relationship to other financial and non-financial systems. Shares knowledge and learnings with team. Proactively manages own career development. Completes My Development Plan (MDP). Identifies and recommends opportunities to employ new or enhanced functionality in support of continued performance improvement. Develops and advances best practices and tools for business analysis. SUPPLEMENTAL REQUIREMENTS WORK ATTIRE Uniform: No Scrubs: No Business professional: Yes Other (department approved): No ON-CALL* *Note that employees may be required to be on-call during emergencies (ie. Disaster, Severe Weather Events, etc) regardless of selection below. On Call* No TRAVEL** **Travel specifications may vary by department** May require travel within the Houston Metropolitan area No May require travel outside Houston Metropolitan area No Work Shift : 1 - Day (United States of America) Job Category : Non-clinical Houston Methodist is one of the nation’s leading health systems and academic medical centers. The health system consists of eight hospitals: Houston Methodist Hospital, its flagship academic hospital in the Texas Medical Center, seven community hospitals and one long-term acute care hospital throughout the Greater Houston metropolitan area. Houston Methodist also includes a research institute; a comprehensive residency program; international patient services; freestanding comprehensive care clinics, emergency care and imaging centers; and outpatient facilities. Come lead with us! Houston Methodist is an Equal Opportunity Employer.