Sr Financial Analyst - Compensation and Clinical Revenue (Remote Opportunity)

Vanderbilt University Medical Center•Nashville, TN

5d•Remote

About The Position

Discover Vanderbilt University Medical Center : Located in Nashville, Tennessee, and operating at a global crossroads of teaching, discovery, and patient care, VUMC is a community of individuals who come to work each day with the simple aim of changing the world. It is a place where your expertise will be valued, your knowledge expanded, and your abilities challenged. Vanderbilt Health is committed to an environment where everyone has the chance to thrive and where your uniqueness is sought and celebrated. It is a place where employees know they are part of something that is bigger than themselves, take exceptional pride in their work and never settle for what was good enough yesterday. Vanderbilt’s mission is to advance health and wellness through preeminent programs in patient care, education, and research. Organization: MED Faculty Compensation Job Summary: The Senior Financial Analyst will be part of the Compensation and Clinical Revenue team in the Department of Medicine. This position will independently develop and conduct complex financial analyses to monitor, evaluate, and present clinical revenue trends, budget variances, and provider productivity and compensation. . Department Summary: The mission of the Department of Medicine at Vanderbilt University Medical Center (VUMC) is to dedicate our talents to advance human health for all. We value being on the forefront of personalized care for all patients, making and implementing impactful scientific discoveries, advancing excellence, and training the next generation of clinicians, scientists and educators.

Requirements

Communication of Results (Advanced): Communicates results and recommendations to customers in a concise and non-technical format. Clearly states implications and potential next steps. Presents analysis, ideas, and findings using the appropriate data visualization and presentation tools [such as Word, Excel, Tableau, and PowerPoint].
Written Communication (Advanced): Demonstrates the ability to write clear, detailed, and comprehensive status reports, memos and documentation. Demonstrates an understanding of effective composition, such as having first line in a paragraph state the subject.
Financial Analysis (Advanced): The process of evaluating businesses, projects, budgets, etc. to determine their performance, stability and profitability.
Problem Solving (Advanced): Uses critical thinking and process improvement i.e. coaches and mentors development of problem statement, describes current state, identifies root causes, creates future state, coaches and mentors development of solutions and action plans with a sustainability plan. Applies appropriate tools to address issues.
Project Management (Advanced): Planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives.
Peer Leadership (Novice): The ability to show leadership and influence people of equal rank in an effort to accomplish team goals.
Relevant Work Experience Experience Level: 4 years
Bachelor's

Responsibilities

Investigates and analyzes monthly financials and budget variances.
Prepares monthly financial reporting for DOM leadership.
Attend Key Statistics meetings and collaborate with revenue cycle and coding colleagues to track and action clinical revenue capture trends and issues.
Provide clinical revenue oversight by evaluating monthly charges, collections and RVUs and ensuring alignment with department’s reported net clinical revenue.
Review and monitor billing taxes and pro rates, and manage bill area mappings to ensure charges flow correctly.
Attend monthly Division Coding Expert (DCE) meetings to stay up-to-date on coding trends and challenges across the department.
Develop reporting as needed to assist with tracking and monitoring needed.
Assist with department’s annual budget and quarterly forecast preparation, with a focus on the Vanderbilt Medical Group (VMG) component
Prepare pro formas for new clinical contracts to ensure competitive rates are negotiated
Analyze monthly salary variances to identify trends and areas for adjustments.
Update monthly salary accruals.
Manage clinical FTE calculations and provider activity reporting to ensure alignment with institutional effort grid.
Identify actions required to right-size and collaborate with divisions on adjustments.
Address provider questions on their individual monthly productivity reports
Evaluate provider total compensation relative to industry benchmarks
Reconcile quarterly Financial Partnership Model calculations, and analyze requests from divisions for hospital support funding.
Monitor existing hospital support and prepare monthly division credits.
Streamline team’s current Excel-based reporting, and partner with department application developers on further automation by relaying business requirements for creation of Tableau dashboards.
Other duties as assigned
Develops projections to model the financial impact of programs and projects.
Supports efforts of customers to sustain results from program and project implementation.
Investigates and analyzes financial transactions and/or regulations in support of programs and projects, and/or reviews monthly results and budget variances.
Designs, develops, and modifies financial forecasting models and simulations for programs.
Accumulates and analyzes data from existing or established databases.
Presents financial, statistical, and operational reports.
Analyzes budget impact of implemented programs/projects and provides input for financial projections.
Analyzes and reports on the effects of proposed federal and state statutes and regulatory actions which may impact financial planning.
Analyzes future trends and indicators in related areas of interest.
Reviews data to analyze trends affecting budget needs.