Financial Analyst

1 week ago

Boston, United States Brigham & Women's Hospital(BWH) Full time
General Summary / Overview Statement

Under the guidance and supervision of the Boston Bleeding Disorders Center (BBDC) Program Director, the Financial Analyst is responsible for providing ongoing program development and coordination support for the Brigham and Women's Hospital 340B Outpatient purchasing and mixed-use Pharmacy Programs. The Analyst's key areas of responsibility will include, but not be limited to, oversight of 340B drug purchasing, inventory processes, monthly reporting, audits and all areas of regulatory compliance. The Analyst may be asked to assist in additional areas of the BBDC when needed.

Principal Duties and Responsibilities

COMPLIANCE

1.Be involved in all internal and external 340B audits for the BBDC.

2.Supports program adherence to 340B program regulations and guidelines.

3.Monitors and audits state Medicaid claims to ensure compliance to prevent potential duplicate discount rebates or other compliance issues.

4.Using Excel or a data management reporting program, filters out non-eligible transactions, including, but not limited to, drugs used to treat patients during inpatient care, drugs provided free by manufacturers, those provided at non-eligible locations, or prescriptions written by non-eligible providers.

5.Contributes to the maintenance of provider lists, dashboards, and other program tools.

6.Gathers and organizes data for external requests.

7.Provides support for external audit meetings and activities.

8.Evaluates patient eligibility for compliance with program policies by reviewing patient medical records, insurance plans, and enrollment status.

9.Performs audits on a scheduled basis; this may involve presenting and resolving reconciliation issues as they arise during the monitoring and reconciliation process.

10.Develops a thorough understanding of the 340B program. Strives to consistently improve the overall efficiency, value, and internal support of the 340B program.

11.Maintains tools and reports that can be used to educate staff and assist management in tracking the overall financial impact to the organization. Builds other reports, as appropriate, to monitor and improve 340B program compliance and performance.

12.Maintains an orderly archive of reports for compliance and audit purposes.

13.Collaborates with the Pharmacy, Compliance, Finance and 340B Steering to develop monthly, quarterly, and yearly audit metrics.

14.Contributes to appropriate financial metrics to assess areas of improvement.

15.Supports pharmacy buyers in managing drug selection, procurement, and inventory control.

16.Supports program compliance with all track-and-trace legal requirements of the Drug Supply Chain Security Act for purchasing and distribution of drug products.

17.Provides each buyer with information needed to place orders using the appropriate accounts (e.g., WAC, GPO, and 340B) to replenish inventory in the mixed-use inventory setting.

18.Develops and fosters working relationships with internal working counterparts (IT, Revenue Operations, Revenue Integrity, Compliance, Accounting, and others) to facilitate productive exchanges of information to improve program efficiency and promote program compliance. Provides data, information, and reports as needed for other business units within the organization.

FINANCIAL

1.Monitors contractual agreements with vendors and tracks payment of invoices via Accounts Payable.

2.Generates annual Purchase Orders for vendors and manufacturers.

3.Creates / updates monthly reports which include but are not limited to: Cost of Goods Sold, Sales Price of Goods Sold, Inventory report, Accounts Receivable report, month-end accruals, Factor sales vs. POLR charge activity, with detailed explanation of variances.

4.Collects, compiles, and conducts analysis (performance, variance and financial) pertaining to the finances of the Boston Bleeding Disorders Center Factor Program (BBDCFP).

5.Maintains communication with the Mass General Brigham billing group throughout the month, reconciling charges of the BBDCFP and resolving any discrepancies in real-time to ensure a smooth and complete month-end close process. Prepares and gathers data for the BCBS Preferred Provider Report on a quarterly basis per contractual agreement, which is presented by the Operations Manager to the BCBS Network Contract team.

6.Assists in the preparation of the annual income report for the Maternal and Child Health Bureau per grant guidelines.

7.Maintains updated product pricing schedules, which are provided to the BBDCFP's contract pharmacy on a quarterly basis (or as needed), so that the Program capitalizes on best available purchase price options.

8.Works closely with Operations Manager, Medical Director, Division Administrator, Program Director and BWPO Contracting to develop pricing policy, analysis of cost/price margin and provides input into the development of contracts with third party payers.

9.Participates in annual Policies & Procedures review to ensure that the Program is in compliance with 340B standards.

10.Prepares ad hoc financial analysis reports as needed.

Qualifications

Qualifications

•Bachelor's degree in business, accounting, finance, healthcare or related field required

•Master of Business Administration (MBA), Master of Health Administration (MHA), or related graduate level degree a plu

•2 Years of compliance, business, finance, accounting or related experience preferred

•Direct experience in financial or compliance auditing a plu

Skills and Abilities Required

1.Ability to compile, comprehend and analyze financial data

2.Proficiency with MS Office applications (especially Excel) and ability to learn new systems as needed

3.Excellent verbal and written communication skill

4.Ability to effectively navigate a complex organization

Working Conditions

1.Flexibility of work hours may be required.

2.Works under constant time deadlines.

Hospital Wide Responsibilities

Works within legal, regulatory, accreditation and ethical practice standards relevant to the position and as established by BWH/Partners; follows safe practices required for the position; complies with appropriate BWH and Partners policies and procedures; fulfills any training required by BWH and/or Partners, as appropriate; brings potential matters of non-compliance to the attention of the supervisor or other appropriate hospital staff.

The above statements are intended to describe the general nature and level of work being performed by people within this classification.They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.

EEO Statement

Brigham and Women's Hospital is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, sex, color, religion, national origin, sexual orientation, protected veteran status, or on the basis of disability.

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