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Financial Analyst

2 months ago

Valhalla, New York, United States Westchester Medical Center Full time
Job Summary:

The Financial Analyst applies principles of accounting to analyze and record financial information and prepare reports by compiling information and utilizing accounting control procedures.

Key Responsibilities:
  • Interact with internal and external parties to produce, distribute, and present both regular reports at fixed calendar intervals and ad-hoc analyzes related but not limited to:
    • Medical practice financial performance
    • Professional billing revenue cycle reporting for historical and projected payments, billed charges, AR, payor mix, billing throughput and other performance statistics
    • Physician and Mid-level provider productivity, utilization, patient referrals, Benchmarking
    • Routine revenue integrity audits
    • Inter-WMC Health Network entity related expense and revenue allocation
  • Serve as a subject matter expert for all financial, EMR/Billing and other decision support systems, including maintenance and delivery of current data download routines, report writing/query procedures, and knowledge of all data elements available
  • Recommend, develop and maintain financial databases, computer software systems and data filing systems and processes
  • Prepare and review budget, revenue, expense, payroll entries, invoices and other accounting documents
  • Review invoices and coordinate payment through Accounts Payable
  • Develop the annual operating budget and consult with departmental management on the fiscal aspects of program planning, salary recommendations and other administrative actions
  • Assist in due diligence and onboarding process for new provider / practice acquisitions
    • Perform productivity and financial analyzes on new groups to determine appropriate compensation and forecast financial performance
    • Coordinate with practice operations and physician leaders to develop and oversee transition plan for capital assets, existing leases, service contracts and vendors
  • Maintain existing portfolio of Inter-WMC Health Entity agreements and develop models for new agreements in order to forecast, track and reconcile financial impact of agreements and communicate with appropriate network finance parties
  • Other regular duties and projects as assigned
Qualifications/Requirements:
  • Experience: 3 years finance/accounting experience, required. Healthcare finance experience preferred
  • Education: Bachelors degree in Accounting, Finance, Business Administration, Hospital Administration, or a closely related field, required. Masters degree, preferred
  • Licenses / Certifications: N/A
  • Other: The ideal candidate:
    • Displays industry specific knowledge and has experience with healthcare finance, medical practice operations and professional billing
    • Knowledge of finance, accounting, budgeting and cost control principles including Generally Accepted Accounting Principles
    • Has demonstrated proficiency in Microsoft Excel. Preferred experience with Access/SQL Databases, Cerner Millennium or other EMR/Billing system, ERP/Finance systems
    • Exhibits independent decision making within the scope of job duties
    • Displays critical thinking to proactively diagnose root cause of issues and develop solutions
    • Has the ability to independently obtain, vet, analyze, and accurately summarize data using all tools available
    • Clearly and accurately communicate data, report results, and other findings both in writing and verbally