Sr Financial Analyst

Baystate Health•Springfield, MA

11d•Hybrid

About The Position

The Senior Financial Analyst will work in close partnership with BMP management, medical leadership and operational staff to maximize the financial performance of assigned practices. The SFA serves as the business partner to assigned medical practices by coordinating the budget planning and development process and all financial analysis including analysis of net practice revenue. The SFA serves as the primary financial liaison to the medical practices and is responsible for assessing and coordinating all financial requests from the practices. To be successful, the SFA must develop exceptional relationships with medical practice leadership. In order to fulfill this role, the SFA must remain abreast of current issues affecting financial performance of physician practices.

Requirements

5+ years progressive work experience in healthcare, finance or related field
Knowledge of physician payment systems and managed care
Ability to work independently
Strong interpersonal skills and a desire to provide a high level of customer services
Excellent oral and written communications skills
Experience using Microsoft Office including Excel, Word and other business applications
Bachelors Degree in Accounting or related Finance/Business Degree

Nice To Haves

None Listed

Responsibilities

Assist in evaluation of financial performance including developing corrective actions.
Works collaboratively with management and PBO to assure that the revenue cycle process is optimizing revenues and collections.
Serves as the finance resource for the analysis and interpretation of net practice revenue.
Works collaboratively with assigned practices to develop the budget calendar and process within the parameters established by BHS.
Recommends and develops tools and reports to assist practice leadership to better understand and manage their practices.
Actively participates in the development of the capital and operating budgets.
Maintains a current working knowledge of BHS employed physician compensation plans and supports BMP management and medical leadership in monitoring current status and in assessing proposed changes to the plan.
Cost Center B907 ONLY: Participate in the development, implementation, and maintenance of the physician compensation plans. This includes modeling plans to determine their effectiveness and financial implications. Support the productivity goals of the plans, incentive compensation calculations related to productivity, analyzing physician compensation and productivity compared to external benchmarks, maintaining related files and safeguarding confidential information.
Cost Center B907 ONLY: Responsible for the annual physician compensation budgets for all BMP practices.
Cost Center B907 ONLY: Supports month end close process.
Cost Center B907 ONLY: Supports provider productivity and benchmark reporting.