Financial Analyst

4 weeks ago


Secaucus, New Jersey, United States Quest Diagnostics Full time
Overview:
Quest Diagnostics' Revenue Recognition & Analytics Center of Excellence is a key component of the corporate finance function. The department is responsible for ensuring the accuracy and integrity of reported revenue, patient concessions, bad debt, and associated accounts receivable reserves. Our mission is to provide valuable insights, analysis, and financial reporting to safeguard the company's assets and maximize cash flow. The Financial Analyst - Revenue Recognition & Analytics will directly support one of Quest's regions and/or other DIS businesses, assisting with critical components of the Revenue Recognition Close Process. This role requires managing a complex workload in a rapidly changing, fast-paced environment. The individual will interact regularly with business partners, including regional and billing team members, as well as team members from other centralized corporate finance functions. We strive for our Financial Analysts to serve as effective suppliers and customers to other members of the RR&A team and their business partners by providing market-specific insights, standard analytics, and consistent forecasting and budget assumptions, where appropriate.

Responsibilities:
1. Assist in the recognition of revenue and valuation of associated receivable reserves for their responsible areas. 2. Analyze receivables and related disallowance, patient price concessions & bad debt reserves to drive the decision-making process and record related journal entries. 3. Develop, maintain, and distribute reporting schedules. 4. Ensure an appropriate accounting control environment that tightly manages the internal control environment and integrity of the financial statements. 5. Work directly with our key business partners. 6. Analyze significant trends and report monthly financial results. 7. Contribute to monthly Revenue Analytics Reporting to Regional Leadership Teams (RFDs, General Managers, VP Commercial, VP Operations). 8. Participate in the revenue and volume forecasting and budgeting process. 9. Serve as an effective business partner to Regional Revenue Services and Finance personnel. Actively participate in monthly billing and finance meetings. Collaboratively drive initiatives and recommend solutions. 10. Recognizing that this centralized team serves many business partners, be agile, customer-focused, and performance-oriented. To the extent competing priorities are encountered, be transparent in communicating the prioritization and the underlying reasons. 11. Develop and maintain standardized best practices for revenue reporting and analysis. 12. Drive continuous improvement to deliver the highest quality. 13. Continually reassess customer needs and react timely to changing market dynamics. 14. Proactively identify trends and collaborate with stakeholders to investigate and take appropriate action. 15. Integrate data from across various groups, including Health Plan Finance, Regional finance and operations, Treasury, and Corporate Accounting to construct an overall understanding of our Revenue Performance that delivers meaningful insights. 16. Support M&A initiatives, audits, and other special projects as needed.
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