Financial Analyst

University of Iowa•Iowa City, IA

About The Position

The University of Iowa Health Care, Department of Pharmaceutical Care is seeking a 100%25 Time Financial Analyst to join our team. This position has responsibility for performing complex financial and cost accounting analysis of financial reports and data, ultimately preparing narrative analysis for leadership team. The primary responsibility of this position will be monitoring and reconciling accounts, general ledger entries, preparation of dashboards and reports for leadership team, and pharmacy benefit manager (PBM) contract facilitation. Duties are shared among the group of financial analysts and senior financial analysts ensuring that separation of duties is maintained at all times. Additionally, this position will need to assist with analysis of payments, payer mix, and other data as determined.

Requirements

B.S. in business administration or related degree or an equivalent combination of education and experience.
Iowa Board of Pharmacy Registration as Pharmacy Support required prior to commencement of employment.
1-3 years’ experience working in accounting, budgeting or financial analysis.
Knowledge of data analysis and presentation of data.
Proficiency in computer software, including Microsoft Excel, Access, Word, and Outlook.

Nice To Haves

Master of Business Administration.
Experience using Epic, Willow, WAM & POS.
Excellent verbal and written communication skills.
Experience working in a large academic medical center.
Experience working with health insurance companies.
Experience completing and analyzing financial reports.
Experience working with medication and/or health care related data

Responsibilities

Monitors, analyzes, and reconciles monthly charges and account balances.
Develop monthly reports for monitoring and trending of pharmacy related data based upon specific areas and including revenue, expense and utilization.
Assist with development of forecasting reports related to all areas of pharmacy for budgeting purposes.
Gather data from outpatient pharmacy system for monthly entry into general ledger.
Obtain, facilitate and manage contracts internally and externally from UI Health Care.
Reconciles bank deposits.
Understands financial reports and can discuss variances with members of leadership team.
Understands risk points and works to minimize.
Develop overall understanding of accounting structure and ensure reimbursement is being received appropriately.
Research and follow up with payers as appropriate/needed when remits or reimbursements are not as expected.
Review data on a pre-defined basis for analysis and sharing with leadership team.
Prepares dashboards related to different areas (overall, area specific, specialty) of pharmacy practice.
Provide analytical support, including design, implementation, coordination, and data querying to support financial improvements.
Provide reports to Hospital Finance and Accounting Services annually or as needed, such as charity care, payer mix, etc.
Assist with the development of financial proformas for financial planning.
Reviews data on a drug specific basis as needed to determine profitability.
Through data analysis, identify opportunities for business improvements.
Create and maintain medication-related benchmarking data.
Development of project plans and workflows.
Provide training and understanding to other members of the team related to job duties.
Maintain a broad knowledge of systems to utilize to develop reporting resources.
Provide back up to team members as needed.
Grasps the inevitability and challenges of change and adapts tactics accordingly; utilizes learning opportunities to prepare for changing work and methods.
Demonstrates a willingness to carry out responsibilities and a positive approach to accomplishing work.
Demonstrates an understanding of how work aligns to organizational mission, vision, and University environment.
Ability to establish and build healthy working relationships and partnerships with colleagues within and external to own unit, those to whom services are provided, vendors, the public, regulatory/governmental agencies, etc., all of whom may be seen as "customers" or receivers of services provided by the University.
Manages customer expectations and takes responsibility to enhance service excellence.
Provides and accepts ideas and suggestions in a constructive and helpful manner.
Exhibits good teamwork, is approachable, cooperative, and contributes to an overall positive and productive work/team environment.
Professional experience working effectively with individuals from a variety of backgrounds and perspectives.
Understanding of the necessity and value of accuracy and attention to detail; ability to process information with high levels of accuracy.
Ability to analyze situations fully and accurately and reach productive decisions.
Knowledge and understanding of financial accounting systems specific to UI Health Care.
Basic understanding of accounting principles.