Financial Analysis and Support Specialist

2 weeks ago


Farmington, New Mexico, United States Next GenHealth Staffing Full time
Job Overview

Position Title: Financial Analysis and Support Specialist

Employment Type: Full-Time

The Financial Analysis and Support Specialist will play a crucial role in driving financial and operational success by overseeing the preparation of budgets and conducting comprehensive analyses of various business components.

Key Responsibilities:

  • Facilitate the achievement of financial and operational objectives through the development of both operating and capital budgets.
  • Analyze critical business elements such as product costs, profitability by segment, revenue growth opportunities, and perform cost/benefit assessments.
  • Demonstrate a commitment to service excellence and enthusiasm for the diverse challenges within the Financial Services sector.
  • Anticipate the needs of both internal and external stakeholders to enhance reporting and decision-making processes.
  • Participate in the annual capital asset budgeting process.
  • Generate periodic productivity reports and ensure follow-up actions are taken.
  • Assist in organizing the operating budget on an annual or periodic basis.
  • Manage the availability of budgeting software in accordance with established timelines.
  • Maintain user access and security within financial software systems, ensuring accuracy in report formats and GL accounting codes.
  • Collaborate with management to develop, implement, and oversee operational budgets, including variance analysis and resolution of issues.
  • Support the financial planning efforts of the organization, including forecasts, feasibility studies, and business plans.
  • Contribute to the monthly preparation of financial statements, providing timely and precise analyses of financial and operational performance.
  • Engage in monthly operational reviews with departmental leaders to ensure adherence to budgets and track progress towards organizational goals.
  • Evaluate cost assignments and maintain regular updates to cost accounting methodologies.
  • Generate performance metrics related to labor, costs, reimbursements, and profitability using decision support software.
  • Conduct ongoing performance evaluations of existing service lines.
  • Work closely with leadership to create financial analyses for proposed initiatives, developing performance, revenue, and cost models.
  • Assess the implications of process changes on service lines or other business segments.
  • Prepare and coordinate cost reimbursement reports for compliance with Medicare and Medicaid regulations.
  • Draft written and oral reports to provide insights and recommendations.
  • Identify issues, conclusions, and status updates for management review.
  • Perform additional duties as assigned.

Qualifications:

Required:

  • Exceptional verbal and written communication skills.
  • A minimum of five (5) years of experience in financial planning and analysis, accounting, or finance.
  • Bachelor's degree in accounting, business, health administration, or a related discipline.
  • Experience in healthcare budgeting, cost accounting, or financial analysis.
  • Demonstrated integrity, adaptability, and the ability to collaborate effectively with colleagues.
  • Proficiency in utilizing various computer systems, including ERP and budgeting software.

Preferred:

  • Master's degree in Business Administration or CPA certification.
  • Two years of experience in preparing hospital Medicare cost reports.
  • Five years of experience in financial planning and analysis within a healthcare environment.

This position requires a commitment to efficiency and effectiveness in all tasks, with a focus on enhancing teamwork and delivering value in every output.



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