Cost and Utilization Specialist
4 weeks ago
Job Title: Cost and Utilization Specialist
Job Summary:
The Cost and Utilization Specialist is responsible for analyzing and monitoring all financial activities. This includes budget preparation, developing and monitoring outcomes-based contracting rates, and working with contracted providers on reporting requirements.
The Cost and Utilization Specialist is a key member of the organization's budget and finance team.
Key Responsibilities:
- Assists with preparation of all financial reports to Michigan Department of Health and Human Services (MDHHS) through the year.
- Represents OCHN on financial workgroups.
- Works with other cost and utilization analysts to help them understand the service models developed by OCHN and develop efficient rates for the provider network.
- Reviews the monthly financials and provides feedback to the Director of Financial Analytics.
- Attends monthly/quarterly meetings with the provider network and provides financial updates.
- Understands fund source allocation for revenue and expense reporting.
- Ability to organize and lead meetings with other OCHN departments and provider network.
- Acts as a liaison between the provider network and MDHHS to communicate feedback regarding changes to funding, procedure codes, and reporting requirements.
- Collects, analyzes, and interprets data and statistics using quantitative and qualitative methods. Prepares and presents complex and detailed statistical reports.
- Uses integrated relational computer systems to create and access database files and prepare statistical charts, graphs, and exhibits.
- Provides statistics and established benchmarks regarding cost and utilization statistics.
- Initiates, manages, and reports on projects using standard project management, cost accounting, and budget management principles. Monitors scope, schedule, and budget of project/program and coordinates project/program evaluation and improvements.
- Compiles, analyzes, and reports on operational information including trends, staffing/resource allocation, and budgeting.
- Performs cost analysis and project costs associated with OCHN programs.
- Conducts comprehensive surveys and research projects, including assisting with program evaluation studies and other administrative studies.
- Serves as financial support person for OCHN departments.
- Serves as primary financial liaison between OCHN contract providers regarding financial issues.
- Coordinates the financial activities policies, procedures, and directives between the contract providers and OCHN.
- Assures that Contracted providers comply with all financial policies and directives.
- Tracks, analyzes, and monitors all costs and utilization for contract providers.
- Prepares, analyzes, and monitors budget for contract providers.
- Develops and implements outcomes-based contracting rates using statistical analysis.
- Provides recommendations for improvements and changes in procedures, costs, and utilization to increase system efficiencies and effectiveness.
- Other duties as assigned by the Director of Financial Analytics.
Job Requirements and Qualifications:
Education:- Bachelor's degree in Business Administration, Finance, Accounting, or Related discipline.
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