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Healthcare Financial Analyst

4 months ago

Syosset, United States Total Orthopedics & Sports Medicine Full time

Job Overview:
**Key Responsibilities**:

- **Process Evaluation and Optimization**:

- Analyze each stage of the revenue cycle, including patient registration, charge capture, coding, billing, and collections.
- Identify inefficiencies, bottlenecks, and gaps in revenue capture processes.
- Recommend and implement process improvements to enhance revenue cycle efficiency and effectiveness.
- **Revenue Performance Monitoring**:

- Monitor key performance indicators (KPIs) related to revenue cycle metrics, such as Days in Accounts Receivable (A/R), Clean Claim Rate, and Collection Rate.
- Conduct trend analysis to assess revenue cycle performance over time.
- Develop and maintain dashboards or reports to track and communicate performance metrics to stakeholders.
- **Claims and Denials Management**:

- Analyze claims submission processes to minimize denials and rejections.
- Investigate root causes of denials and implement strategies to reduce denial rates.
- Work with billing and coding teams to ensure accurate and timely claim submission.
- **Revenue Integrity and Compliance**:

- Ensure compliance with billing regulations, payer policies, and healthcare industry standards.
- Conduct audits or reviews to identify potential compliance issues or revenue leakage.
- Collaborate with compliance officers and legal teams to address compliance concerns related to revenue cycle activities.
- **Financial Analysis and Reporting**:

- Prepare financial reports related to revenue cycle performance, revenue trends, and financial impact analysis.
- Provide insights and recommendations based on financial analysis to improve revenue cycle outcomes.
- Support financial forecasting and budgeting processes by providing accurate revenue cycle data.
- **Stakeholder Collaboration**:

- Collaborate with revenue cycle management, billing, coding, and clinical teams to understand operational challenges and opportunities.
- Communicate findings and recommendations to non-financial stakeholders effectively.
- Work with IT and operational teams to implement system enhancements or technological solutions to support revenue cycle improvements.
- QUALIFICATIONS:

- Bachelor's Degree in Finance, Accounting, Healthcare Administration or related field (Master's Degree preferred).
- Relevant experience in revenue cycle management, financial analysis or healthcare finance.
- Strong understanding of healthcare reimbursement methodologies, billing processes and regulatory requirements.
- Proficiency in data analysis tools and financial software (e.g., Excel, Financial Modeling Tools.
- Excellent communication skills and ability to collaborate effectively across multidisciplinary teams.
- SKILLS AND ATTRIBUTES:

- Analytical mindset with attention to detail.
- Problem-solving and critical thinking abilities.
- Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
- Knowledge of healthcare revenue cycle operations and industry best practices.
- Commitment to maintaining confidentiality and ethical standards in financial practices.

Pay: $80,000.00 - $85,000.00 per year

**Benefits**:

- 401(k) matching
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance

Physical setting:

- Office

Schedule:

- 8 hour shift
- Monday to Friday

**Experience**:

- Accounting: 5 years (required)
- Microsoft Excel: 5 years (required)

Ability to Commute:

- Syosset, NY 11791 (preferred)

Ability to Relocate:

- Syosset, NY 11791: Relocate before starting work (required)

Work Location: In person