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Sr Financial Analyst
$89k-108k (estimate)
Full Time | Hospital
3 Weeks Ago
Sorry! This job is no longer available. Please explore similar jobs listed on the left.
University of Rochester is Hiring a Sr Financial Analyst Near Jackson, MI
Opening Full Time 40 hours Range URG 112 URMC Payer Contracting & Reimb
Schedule 8 AM-4:30 PM
ResponsibilitiesJob SummaryWith significant latitude for independent judgment and initiative and for all URMC hospitals and affiliates, the Senior Payer Contracting & Reimbursement Analyst performs complex financial analyses used in critical business decisions. Builds and maintains reimbursement and contract modeling systems. Manages large, multi-hospital contracting and regulatory projects. Supports strategic contract negotiations and makes recommendations to the Director, Payor Contracting & Reimbursement. Represents URMC and all affiliate hospitals with payers. Has comprehensive knowledge of payer reimbursement methodologies, rules, regulations, and contract terms. Reports to the Director, Payer Contracting & Reimbursement.
Key Functions And Expected PerformancesWith significant latitude for independent judgment and initiative:
30% - Plan, develop, build and maintain reimbursement modeling and contract management systems and perform complex financial analyses for use by URMC senior executives and program managers in profit and loss statements and to support critical business decisions. Manage decision support and contract management software programming logic. Insure accuracy of financial data by performing reconciliations. Perform data mining, identify trends, interpret data, and make recommendations to senior leaders.
20% - Manage large, multi-hospital projects and financial analyses required for contract and regulatory compliance including systems implementations. Examples include: charge creep analytics, price transparency, and payment method conversions. Using project management skillset, lead cross-functional teams in contract implementations and revenue cycle management initiatives. Define and develop required financial reporting and analytics.
20% - Routinely develop, review and analyze financial reports for complex payor contracts. Support effective contract negotiations through review of language, modeling of proposed terms and rates and make recommendations to Director, Payer Contracting & Reimbursement. Negotiate select payor contracts with management direction. Prepare financial payor models and benchmark comparisons to support contractual decisions including assumptions, observations, conclusions and recommendations.
10% - Support URMC business decisions by maintaining expert knowledge of 3 rd party & government payer reimbursement, rules, regulations, coding, contract terms and conditions. Advise revenue cycle managers and programmers on EPIC set up of contracting systems. Educate and communicate payor methodology and/or rate changes to the appropriate internal URMC entities and/or department staff. Verification of payor rate schedule updates for compliance to contract terms. Perform testing on complex payor claims to ensure accuracy and compliance to contract terms. Research and respond to complex internal and payor questions as they relate to contracts. Attend meetings with payors and other URMC entities and /or departments to resolve contract issues when requested.
10% - Provide consultation to Director, Payer Contracting& Reimbursement regarding payer/financial developments for planning, control and analytical processes. Develop product pricing and utilize financial modeling in making rate decisions especially for new technologies. Negotiate single case agreements with non-par payers, ensuring appropriate terms/conditions. Work with Compliance Analysts, Office of Counsel, and Medical Staff Office managers regarding credentialing and payer provider file issues. Provide input in the development and implementation of systems and/or new technologies, e.g. EPIC, Syntellis Decision Support Analytics and nThrive Contract Management in collaboration with Decision Support Analytics teams.
10% - Mentor, train & assist Patient Financial Services teams, Finance teams at all URMC affiliate hospitals, and others in understanding hospital reimbursement and contracts. Responsible for special projects involving reimbursement and finance. Establishes and adheres to project timelines and activity plans. Assists in developing department policy/procedure.
Other duties as may be assigned.
Background Expectations:Required:
How To ApplyAll applicants must apply online.
EOE Minorities/Females/Protected Veterans/Disabled
Pay Range Pay Range: $68,765 - $103,147 Annually
The referenced pay range represents the minimum and maximum compensation for this job. Individual annual salaries/hourly rates will be set within the job’s compensation range, and will be determined by considering factors including, but not limited to, market data, education, experience, qualifications, expertise of the individual, and internal equity considerations.
Schedule 8 AM-4:30 PM
ResponsibilitiesJob SummaryWith significant latitude for independent judgment and initiative and for all URMC hospitals and affiliates, the Senior Payer Contracting & Reimbursement Analyst performs complex financial analyses used in critical business decisions. Builds and maintains reimbursement and contract modeling systems. Manages large, multi-hospital contracting and regulatory projects. Supports strategic contract negotiations and makes recommendations to the Director, Payor Contracting & Reimbursement. Represents URMC and all affiliate hospitals with payers. Has comprehensive knowledge of payer reimbursement methodologies, rules, regulations, and contract terms. Reports to the Director, Payer Contracting & Reimbursement.
Key Functions And Expected PerformancesWith significant latitude for independent judgment and initiative:
30% - Plan, develop, build and maintain reimbursement modeling and contract management systems and perform complex financial analyses for use by URMC senior executives and program managers in profit and loss statements and to support critical business decisions. Manage decision support and contract management software programming logic. Insure accuracy of financial data by performing reconciliations. Perform data mining, identify trends, interpret data, and make recommendations to senior leaders.
20% - Manage large, multi-hospital projects and financial analyses required for contract and regulatory compliance including systems implementations. Examples include: charge creep analytics, price transparency, and payment method conversions. Using project management skillset, lead cross-functional teams in contract implementations and revenue cycle management initiatives. Define and develop required financial reporting and analytics.
20% - Routinely develop, review and analyze financial reports for complex payor contracts. Support effective contract negotiations through review of language, modeling of proposed terms and rates and make recommendations to Director, Payer Contracting & Reimbursement. Negotiate select payor contracts with management direction. Prepare financial payor models and benchmark comparisons to support contractual decisions including assumptions, observations, conclusions and recommendations.
10% - Support URMC business decisions by maintaining expert knowledge of 3 rd party & government payer reimbursement, rules, regulations, coding, contract terms and conditions. Advise revenue cycle managers and programmers on EPIC set up of contracting systems. Educate and communicate payor methodology and/or rate changes to the appropriate internal URMC entities and/or department staff. Verification of payor rate schedule updates for compliance to contract terms. Perform testing on complex payor claims to ensure accuracy and compliance to contract terms. Research and respond to complex internal and payor questions as they relate to contracts. Attend meetings with payors and other URMC entities and /or departments to resolve contract issues when requested.
10% - Provide consultation to Director, Payer Contracting& Reimbursement regarding payer/financial developments for planning, control and analytical processes. Develop product pricing and utilize financial modeling in making rate decisions especially for new technologies. Negotiate single case agreements with non-par payers, ensuring appropriate terms/conditions. Work with Compliance Analysts, Office of Counsel, and Medical Staff Office managers regarding credentialing and payer provider file issues. Provide input in the development and implementation of systems and/or new technologies, e.g. EPIC, Syntellis Decision Support Analytics and nThrive Contract Management in collaboration with Decision Support Analytics teams.
10% - Mentor, train & assist Patient Financial Services teams, Finance teams at all URMC affiliate hospitals, and others in understanding hospital reimbursement and contracts. Responsible for special projects involving reimbursement and finance. Establishes and adheres to project timelines and activity plans. Assists in developing department policy/procedure.
Other duties as may be assigned.
Background Expectations:Required:
- Bachelor’s Degree and 5-7 years’ related work experience or equivalent combination of education and/or related experience
- Proficient with Microsoft Office products, including MS-Excel and MS-Access
- Minimum three (3) years’ experience in healthcare managed care and/or healthcare insurance provider contracting and/or medical or financial analysis or Revenue Cycle experience is required
- Comprehensive understanding of healthcare terminology, insurance contract language and hospital/professional payment methodologies, including an understanding of Medicare and NYS Medicaid reimbursement
- Strong analytical skills
- Effective communication skills (both written and oral)
- Ability to work in a team setting with all levels of management and staff
- Master’s Degree in Public Health, Healthcare Administration, Accounting, Business Administration or related field.
- Healthcare Revenue Cycle, Decision Support and Contract Management software (E.g. nThrive, Axiom/Syntellis, EPIC)
- Basic SQL proficiency or aptitude to learn
- Project Management experience
How To ApplyAll applicants must apply online.
EOE Minorities/Females/Protected Veterans/Disabled
Pay Range Pay Range: $68,765 - $103,147 Annually
The referenced pay range represents the minimum and maximum compensation for this job. Individual annual salaries/hourly rates will be set within the job’s compensation range, and will be determined by considering factors including, but not limited to, market data, education, experience, qualifications, expertise of the individual, and internal equity considerations.
Job Summary
JOB TYPE
Full Time
INDUSTRY
Hospital
SALARY
$89k-108k (estimate)
POST DATE
05/24/2024
EXPIRATION DATE
06/06/2024
WEBSITE
rochester.edu
HEADQUARTERS
ROCHESTER, NY
SIZE
1,000 - 3,000
FOUNDED
1850
TYPE
Private
REVENUE
$200M - $500M
INDUSTRY
Hospital
Related Companies
About University of Rochester
University of Rochester is an educational institution that offers undergraduate, postgraduate and doctoral degree programs.
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The job skills required for Sr Financial Analyst include Accounting, Planning, Financial Analysis, Financial Reporting, Initiative, Microsoft Office, etc. Having related job skills and expertise will give you an advantage when applying to be a Sr Financial Analyst. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Sr Financial Analyst. Select any job title you are interested in and start to search job requirements.
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The following is the career advancement route for Sr Financial Analyst positions, which can be used as a reference in future career path planning. As a Sr Financial Analyst, it can be promoted into senior positions as a Financial Analyst IV that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Sr Financial Analyst. You can explore the career advancement for a Sr Financial Analyst below and select your interested title to get hiring information.
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