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Pharmacy Cost Accountant

3 months ago

Scarborough, United States New England Cancer Specialists Full time
Job Description
New England Cancer Specialists (NECS) is currently seeking a full time Pharmacy Cost Accountant to join our growing Finance team. The primary focus of the Pharmacy Cost Accountant is to support the operational efficiency of the Pharmacy Department by coordinating fiscal management activities, performing data analysis, and maintaining accurate departmental statistics and reports. This role is responsible for developing, preparing and maintaining quality data analytics that will be utilized by leadership and management across various settings and promote new opportunities for the organization, thus enhancing efficiency and resulting in optimal revenue. Data base development, project management, cost accounting, and IT skills will be employed to work with pharmacists and administrators.

NECS is a private medical practice composed of 18 oncologists and hematologists serving the region currently from five separate locations in Maine and New Hampshire. Our mission is to make life better for people with cancer and blood disorders. Kindness, compassion, and respect are part of everything that we do - from our phone operators to our physicians, every person on our team is important, and every person makes a difference every day. We are proud to be the first Dana Farber Affiliate practice in the country, striving to provide the highest quality care and unmatched, holistic support for every patient.

Experience and Skills
Essential Duties and Responsibilities:
  • Perform and/or ensure daily billing procedures are accurate and timely including claim adjudication, copay collection, and A/R.
  • Review and respond to underpayments or denials.
  • Assure charges are handled correctly and facilitate the addition, deletion or correction of charges as needed.
  • Assure utilization of all available financial assistance programs for patient oral medications.
  • Interact with purchasing and other departments responsively and productively to promote efficient systems interface and problem resolution related to fiscal and pharmacy management.
  • Monitor purchases for contract compliance and accurate pricing.
  • Monitor ordering processes, integrating most current pricing from wholesaler, analyze invoices, shipping, and inventory processes.
  • Work with Pharmacy Directors on contract compliance, identification of savings opportunities including drug rebates, and inventory management.
  • Support Pharmacy and Therapeutics Committee functions by providing financial data to be used in the drug evaluation process, including opportunities for therapeutic interchange of medications.
  • Reconcile department current income, costs, and inventory documentation with the general ledger within defined month-end closing parameters.
  • Monitor monthly budget variance, identify significant activity. Participate in improvement initiatives, and develop data extracts needed to identify weakness and opportunities that will enhance organizational growth and patient safety.
  • Generate a year-end report of budget versus expended dollars based on reconciliation of budget with the general ledger, for each pharmacy cost center by defined category.
  • Compile data, profile comparisons and generate reports related to current expenses to serve as the basis for the future budgets.
  • Publish quality analytics to include weekly or monthly dashboards, productivity, ad-hoc projects, and/or KPI used by directors and managers to improve processes and maintain a pulse of daily operations. Emphasis on development and maintenance of operational reports.
  • Maintain detailed documentation pertaining to routine operational analytics, source of truth and education of the data design with peers to promote cross-coverage and visual aids. Assist with implementation of new analytic software and data validation.
  • Incorporate industry benchmarks to illustrate baseline metrics and current state when publishing charts, graphs, pivot tables and other diagrams.
  • Participate in the education of other health-care professionals as it pertains to appropriate use and billing of medications.
  • Assure compliance with payer and vendor programs pertaining to qualified patients, drugs, providers, and locations.
  • Maintain system databases to reflect changes in the drug formulary or product specifications.
Qualifications:
  • Masters Degree, Bachelor degree in Finance, Accounting, Business Management.
  • Strong analytical skills required
  • Three to Five year experience in a professional capacity in pharmacy healthcare (preferably in oncology).
  • Direct experience in data analysis and/or health care planning background preferred.
  • Experience with Microsoft Office products including Excel, Word, Outlook, PowerPoint, and Teams required.
  • Power BI experience is preferred.


Job Benefits
This position is full-time (40 hrs.) and includes a competitive compensation

New England Cancer Specialists offers competitive pay and a comprehensive benefits package to our employees. Our benefits include medical, prescription, dental, and vision insurances. Company-paid Life Insurance, Short Term, and Long-Term disability insurances as well as Long Term Care insurance. Other benefits include a company-sponsored retirement program, generous Paid Time Off in addition to 10 Company-paid holidays, a Wellness Program, and other voluntary benefits. Benefits are effective 1st of the month after your hire date.