Senior Financial Analyst, Financial Analyst, or Senior Staff Accountant

Mercy Cedar Rapids•Baltimore, MD

1d•Onsite

About The Position

This position supports Mercy's philosophy of patient centered care by providing accurate financial data and information to managers/administration which allows them to make decisions that directly impact the patient. The Financial Analyst analyzes, processes, and communicates financial information and data for management and administrators. They analyze revenue, expenses, and reimbursement trends, and evaluate business/strategic plans, including performing pro forma and other analytics when necessary. This role serves as a liaison between the Finance and clinical departments, addressing topics such as regulatory and billing updates, CPT and work relative value unit (wRVU) changes, and their impact on operating budgets. The analyst also prepares ongoing financial reporting for clinic departments and researches local, state, and national healthcare trends to determine financial impact on service lines and implement best practices. They utilize continuous improvement processes like LEAN and Six Sigma when reviewing service line performance and analyze operational effectiveness, emphasizing cost containment without jeopardizing innovation or quality of care. The position also involves preparing financial reporting for clinic departments and following safety guidelines.

Requirements

In-depth knowledge of hospital and physician billing and reimbursement
Clear, effective written and oral communication skills
Ability to interact with a variety of people in a positive manner
Must be proficient with Microsoft Word, PowerPoint and Outlook
Knowledge of medical terminology
Familiarity with MS-DRG, APC, CPT and other classification systems
In-depth understanding of non-profit financial statements
In-depth understanding and ability to calculate key financial indicators such as payback period, breakeven point, internal rate of return (IRR), contribution margin, and net gain and loss
Must demonstrate advanced Microsoft Excel skills including graphs, pivot tables and various formulas
Minimum three years' experience in healthcare required.
Bachelor of Science or Bachelor of Arts in Business Administration required

Nice To Haves

Experience with payors, providers and/or hospital setting preferred.
Experience with EPIC electronic health record preferred
Six Sigma Green Belt preferred
Major in Business, Health or Public Administration, Management, Accounting, Finance, Economics or related field preferred.

Responsibilities

Analyzes, processes and communicates financial information and data for management and administrators
Analyzes revenue, expenses and reimbursement trends
Evaluates business/strategic plans including performing pro forma and other analytics when necessary.
Meets with Managers, Physicians and Administration regarding various financial items
Serves as liaison between the Finance and clinical departments addressing topics such as regulatory and billing updates, CPT and work relative value unit (wRVU) changes, the resulting impact on operating budgets and developing cross department teams, if needed to resolve.
Analyzes potential and current business ventures and major capital investments to determine the project's financial viability.
Analyzes reports and data output from Allscripts/EPSI Decision Support to test data integrity and collaborates with the Cost Accountant to resolve any issues.
Research local/state and national healthcare trends to determine financial impact on service lines and implementing best practices.
Responsible for monthly and quarterly financial and market share reports, utilizing internal and external data sources.
Utilizes continuous improvement processes including LEAN and Six Sigma when reviewing new or existing service line performance.
Analyzes operational effectiveness, emphasizing cost containment without jeopardizing important innovation or quality of care.
Develops and maintains an effective relationship with medical and administrative staff.
Prepares ongoing financial reporting for clinic departments.
Follows Mercy's safety guidelines, carries out job-specific safety duties and responsibilities, and promptly reports any unsafe conditions, situations, incidents and injuries.