Financial Analyst – Revenue Cycle (RCM)

Summary:

This position is responsible for data mining and analytics to support the Revenue Cycle Management function of the company. This individual will assimilate data from multiple systems/sources and assist with analysis and interpretation of complex datasets using qualitative and quantitative methods. You will aid in the automation, development, implementation, maintenance, and delivery of revenue cycle reports, dashboards and reporting packages to the revenue cycle and finance teams. The Sr. Financial Analyst will work to enhance the utilization of existing reporting tools and develop new tools to aid the organization in recognizing and maximizing revenue and reimbursement opportunities. This individual will need a thorough understanding of healthcare revenue cycle and financial analytics and be able to provide data driven insights and actionable information to drive improvement, increase efficiency, and implement best practices.

Responsibilities:

• Assess productivity and effectiveness of third party revenue cycle vendors and provide actionable insights on critical deficiencies and areas of improvement.
• Collaborate with CBO and billing teams to develop monthly revenue reporting.
• Model and track impact of payor contracts; model and track impact of charge master updates; create recommendations and provide insight into potential changes.
• Analyze variances to compare actual to expected reimbursement, and benchmarking.
• Help update and maintain various fee schedules and reimbursement models for Medicare and commercial insurance payers.
• Complete financial reporting and analysis related to reimbursement, service line profitability, and patient level reporting.
• Assist with annual budget and monthly forecasting and closing process.
• Prepare, interpret and analyze financial data, business metrics, and report on KPI.
• Gather operational and workflow requirements to document, implement and monitor workflow processes.
• Ability to understand operational business processes and build technology and reports to track key performance indicators, model changes in key variables and analysis that impact on revenue.
• Prepare financial and statistical reports and monitor trends and variances.
• Manage and manipulate data as required to maintain financial models.
• Reviews and understands fluctuations across the organization delivering cost of care and variations in cost of care. Differentiates impact of rate versus utilization variations.
• Analyze data for reasonableness and integrity.
• Create dashboards with RCM, operations, clinical and financial reporting.
• Complete special projects and provide support as requested.

*The company reserves the right to add or change duties at any time.

Job Qualifications:

• Education: Bachelor’s degree in Accounting, Finance, Mathematics, Data Science, Statistics – Masters Preferred
• Experience: 3 Years financial planning and analysis, Revenue Cycle, Reimbursement, Cost analysis in a multi-facility healthcare system (hospital, freestanding ER or healthcare related field)
• Experience with relational databases and knowledge of query tools and statistical software is required.
• Experience in hospital/physician billing for in and out-of-network facilities, and strong knowledge of Medicare preferred.
• Ability to manipulate large sets of data in multiple databases is required.
• Ability to utilize Microsoft Excel and Power BI on a routine basis and will need to be an advanced user of these products.
• Have working knowledge of GoRev, Collaborate MD, NexGen, Centricity, Evident, is a plus.
• Ability to collaborate across all business functions
• Excellent verbal and written communication
• Problem solving
• Time management
• Detailed and Organizational skills
• Strong Analytical skills
• Ability to multi-task and meet deliverables timely
• Understanding of Medical terms and acronyms
• Knowledge of State, Medicare, and other external regulatory and accreditation agencies.
• Reasoning skills and ability to articulate logic behind decisions
• Advanced Microsoft Excel, Power BI
• Work under minimum supervision
• Flexible work schedule

Experience:

• Revenue cycle management: 3 years (Required)
• Financial analysis: 3 years (Required)Skills:

Work Location:

• In-Office (flexible)
• hybrid (Remote/In-Office)

Schedule:

• 8 hour shift
• Day shift
• Monday - Friday

Supplemental pay types:

• Bonus pay: Discretionary, Up to 25% of Base Pay

Salary : $90,000 - $110,000