Financial Analyst I

Advocate Health and Hospitals Corporation•Wake Forest, NC

4d•Onsite

About The Position

This full-time position within the Academic Office of Clinical Research at Wake Forest University Health Sciences focuses on financial analysis related to clinical trials. The role involves Medicare Coverage Analysis (MCA), budget development and negotiation, financial management of trial accounts, and reporting. The Financial Analyst I will work with study protocols, sponsor agreements, and various financial systems to ensure accurate financial tracking and compliance.

Requirements

Bachelor's degree in Business, Accounting, Finance, or a related field.
0-1 years of relevant experience in clinical research or research administration.
Minimum of 1-year Business Office experience in a healthcare environment or Research Office experience preferred.

Nice To Haves

Minimum of 1-year Business Office experience in a healthcare environment or Research Office experience.

Responsibilities

Conduct Medicare Coverage Analysis (MCA) by reviewing complex study protocols, sponsor agreements, and informed consent forms to determine if a study qualifies as a clinical trial and to develop coverage (billing) grids.
Analyze Medicare benefit policies, coverage determinations, and medical practice guidelines relevant to study-specific interventions.
Collaborate with Principal Investigators and clinical research teams to finalize MCAs and designate funding sources for research costs.
Develop comprehensive cost analyses and initial study budgets.
Maintain a library of information on standards of care, National Coverage Decisions (NCDs), and Local Coverage Determinations (LCDs).
Stay updated on Medicare, sponsor, and other federal policy and regulatory issues.
Develop internal budgets for clinical research studies, including all applicable costs, based on protocols, study calendars, and other documents.
Create visit schedules and budgets in OnCore.
Negotiate with sponsors to reach agreements on trial costs.
Review patient care charges associated with clinical research studies in collaboration with the Research Billing Team.
Ensure appropriate treatment of charges for patient procedures with Special Billing and Department post-award personnel.
Support the financial management of clinical trials funded by federal, foundation, and industry sources by performing accounts receivable functions.
Generate and send invoices to study sponsors.
Track and monitor receivables from sponsors, including pass-through fees and milestone payments.
Generate reports on study financials.
Reconcile payments received with OnCore and CORE Connect (Oracle Cloud).
Notify Financial Services of the appropriate study account for payment receipt.
Resolve financial issues with sponsors.
Ascertain amounts paid and remaining due on assigned study sponsor accounts.
Establish payment plans with guarantors regarding past due accounts and re-evaluate existing plans when accounts become delinquent.
Follow up with Departments to ensure proper amounts are collected and recommend actions for accounts.
Initiate calls to Departments to confirm payment amounts on research accounts.
Mail financial statements to Departments.
Review account balances and communicate with Departments regarding billing and collection policies.
Support Department post-award personnel and Sponsored Programs in reviewing revenue prior to study account close-out.
Support the closeout of study activities in OnCore, ClinCard, and EPIC.
Assist Principal Investigators with budget monitoring and prepare projections.
Produce ad hoc analyses as needed.
Serve as a primary user of OnCore, ClinCard, and EPIC.
Prioritize job tasks and assist Manager/Director with special projects and daily tasks to support departmental productivity and efficiency.
Participate in continuing education offerings for personal development.
Perform other related duties incidental to the work described.