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Washington Regional Medical Center - Fayetteville, AR

posted 21 days ago

Full-time - Entry Level
Fayetteville, AR
1,001-5,000 employees
Hospitals

About the position

Washington Regional Medical System is a community-owned, locally governed, non-profit health care system located in Northwest Arkansas in the heart of Fayetteville. The organization is dedicated to improving the health of the communities it serves through compassionate, high-quality care, prevention, and wellness education. The medical center has been recognized as the #1 hospital in Arkansas for four consecutive years by U.S. News & World Report and employs over 3,400 team members across more than 45 clinic locations. The Decision Support Cost Analyst will report to the Decision Support Cost Analysis Manager and work closely with the Chief Accounting Officer. This role is crucial for analyzing and interpreting financial data to provide insights and recommendations that support the viability of service lines offered by the system. The analyst will focus on identifying cost-saving opportunities and supporting informed decision-making through detailed cost analysis and reporting, utilizing sophisticated data tools and techniques across various business operations.

Responsibilities

  • Maintain cost models to accurately calculate the cost of products, services, and operations, including direct and indirect expenses.
  • Assist departments in analyzing potential cost-savings through contract negotiations and bidding process, as needed.
  • Collect and analyze large datasets from various sources, including financial systems and operational data, to identify trends, cost drivers, and areas of improvement.
  • Maintain comprehensive cost analysis reports, dashboards, and assist in preparing presentations for senior management, highlighting key insights and actionable recommendations.
  • Assist in maintaining budgets, forecasting future costs, and identifying potential variances, as assigned.
  • Identify cost-reduction initiatives by analyzing operational processes and recommending improvements.
  • Partner and collaborate with cross-functional teams across departments to gather information to better understand the business needs and communicate findings through analytics.
  • Track and monitor the effectiveness of cost-saving initiatives and adjust as needed.

Requirements

  • Bachelor's degree in accounting, finance, economics or other related field.
  • Previous experience in cost analysis, financial planning, or business intelligence roles.
  • Deep understanding of cost accounting principles, budgeting, and financial reporting.
  • Proficient in data analysis techniques, statistical modeling, and financial modeling.
  • Ability to interpret business operations and translate complex data into actionable insights.
  • Proficient in data visualization tools, advanced Excel functions, and data management systems.
  • Excellent written and verbal communication skills to effectively present to key stakeholders and team members.
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