In 2020, united in a fierce commitment to deliver the highest quality care and exceptional patient experience, Virginia Mason and CHI Franciscan Health came together as natural partners to build a new health system centered around the patient: Virginia Mason Franciscan Health. Our combined system builds upon the scale and expertise of our nearly 300 sites of care, including 11 hospitals and nearly 5,000 physicians and providers. Together, we are empowered to make an even greater impact on the health and well-being of our communities.

CHI Franciscan and Virginia Mason are now united to build the future of patient-centered care across the Pacific Northwest. That means a seamlessly connected system offering quality care close to home. From basic health needs to the most complex, highly specialized care, our patients can count on us to meet their needs with convenient access to the region’s most prestigious experts and innovative treatments and technologies.

While you’re busy impacting the healthcare industry, we’ll take care of you with benefits that may include health/dental/vision, FSA, matching retirement plans, paid vacation, adoption assistance, annual bonus eligibility, and more!

Franciscan Medical Group, as part of Virginia Mason Franciscan Health, is seeking a full-time Financial Analyst III for the Franciscan Finance department in Tacoma, WA. Excellent team-based work environment, flexible work schedule. Part time remote options available after training period is complete. No weekends or organizationally recognized holidays required. 

Job Summary:

This job is responsible for developing and maintaining complex, in-depth and multi-faceted statistical, financial, performance, and operational reports/metrics to support the accomplishment of Franciscan Medical Group’s (FMG) strategic financial/operational business plans for achieving high impact/significant/sustainable improvements to organizational performance and as a basis for senior management decision-making and action.

Analyses are typically focused on short- and long-range financial/operational planning, including practice/service line and financial/variance analyses, physician/provider compensation modeling, revenue/reimbursement strategy analyses, new acquisition/business development pro-formas, practice benchmarking and others of similar scope and complexity. An incumbent also coordinates/leads the annual operating/capital budgeting process as relates to timely budget preparation, ongoing expenditure/status tracking and software access/stakeholder training.

Work involves consolidating, manipulating and interpreting data from multiple financial reporting systems, and requires that an incumbent understand the linkages between all relevant systems (including web-based) and the most effective methodologies for accessing, displaying and analyzing complex data to support recommendations with significant organizational impact.

An incumbent serves as an expert resource for other financial analysts and to senior management, explaining complex financial/operational/productivity data in order to facilitate decision-making processes with organization-wide impact. An incumbent uses significant judgment and resourcefulness in tailoring existing guidelines/processes so they can be applied to specific assumptions or circumstances. Work typically requires an understanding of relational database functionality, labor analytics software and strong report-writing expertise (e.g. Structured Query Language (SQL), Crystal Reports etc.), including proficiency in advanced data manipulation and extraction techniques. 

Essential Duties:

Researches and independently performs a wide variety of complex, in-depth and multi-faceted financial analysis activities in support of management decision-making on matters of fiscal and/or operational significance to the organization; prepares in-depth analyses assuring the accuracy, reliability, relevancy and timeliness of data and deliverables.

• Gathers data and produces profit analysis reports on new ventures being considered, including mergers/acquisitions and business development opportunities (e.g. new service lines, provider recruitment, etc.).
• Performs sensitivity/break-even analyses based on a variety of data and underlying assumptions; presents results to higher-level authority for review and final decision.
• Participates in short- and long-term operations planning activities by preparing analyses depicting the profitability of existing and proposed healthcare services/products/facilities.
• Prepares department/service and/or product line trend analyses (e.g. most/least profitable clinics/regions/providers, payer mix and most profitable service/product lines).
• Estimates impact on other departments from allocated costs when a healthcare service is started, curtailed or ceased.
• Prepares benchmarking analyses for physician compensation and practice reviews; completes compensation modeling in support of provider compensation agreements.
• Prepares, and assures the accuracy and validity of, reports/metrics on a regularly scheduled and ad hoc basis as requested for the organization, region, clinic, senior management, service lines (for professional services) and hospitals; serves as a resource for all requests and questions related to FMG financial data.

Coordinates/supports the development and ongoing administration of the annual operating/capital budget process in accordance with established policies, standards and practices; ensures that budget-related data is returned in a timely manner and in accordance with preparation guidelines and established timelines, and that budget allocations are identified, prioritized and disbursed as appropriate.

• Prepares and communicates budget process instructions and interpretive documents consistent with CHI/CHI-FH budgetary policies and guidelines; including development and reconciliation processes; analyzes budget requests, reviewing details based on cost center/department and if revenue-generating, project revenues, to support the request and for compliance with established guidelines; consults with managers to identify tactics for addressing gap between budget requests and approved budget.
• Serves as liaison with the financial management/budget software vendor (e.g. Kaufmann Hall) with regard to database development (e.g. dimensions, plan files, budget groups, etc.) and FMG’s reporting needs; coordinates appropriate system access during budget development cycle; addresses technical/system changes and developing issues (within scope of responsibility) to facilitate efficiency in the budget preparation process.
• Coordinates and conducts training sessions on the budgetary system for FMG management; serves as a resource for guidance on system functionality and issues. 
• Oversees, tracks and reports on capital project costs, project cycle times and project status via formal communication channels to stakeholders; communicates with managers on an ongoing basis to ensure all costs are taken into account and are within budget at each stage of the projects.
• Makes process recommendations for capturing the ongoing costs for corporate–wide projects; keeps abreast of, and communicates, capital policy changes; advises senior management on ROI analyses for proposed capital projects.

Meets frequently with senior management as requested to review department/service line initiatives and financial performance metrics on an organizational, regional or entity/site basis and to develop financial performance improvement targets.

• Develops historical and forecasted financial statements based principally on past performance.
• Interprets and explains concepts, and works consultatively with managers to identify and address specific improvement opportunities and targeted objectives.
• Provides decision support guidance and related materials (e.g. performance analyses, graphs, etc.) to senior management to assist with business planning/prioritization, initiatives, business planning and identification of key performance indicators.
• Identifies trends or anomalies in labor productivity data and evaluates significance to ongoing programs, operations or initiatives.
• Works with senior management to develop performance improvement targets for improving financial performance, service and efficiency of the organization; measures and evaluates results, reports to senior management.

Creates, develops, and provides system reporting, such as producing financial presentation packages for review of senior management, primarily utilizing spreadsheet/presentation software. 

• Determines best practice methods for displaying data to maximize understanding of the concepts and impact of the information and prepares graphs, tables, charts, storyboard/Power Point presentations and reports from various data sources (extracted from automated systems and report-writing applications) to describe and summarize data, forecasts and projections.
• Extracts data from various systems to prepare Board financials and consolidated financial statements as required.
• Responds to CHI requests to validate, explain and/or research data deficiencies, inaccuracies or errors, reimbursement methodologies and profitability analyses.

Utilizes information provided by management to prepare the annual capital budget business plans for selected capital projects; Ensures the plans are accurately integrated into the Long Range Plan and into the annual budget. 

• Obtains and evaluates relevant data pertaining to anticipated capital projects to enable the most accurate proforma business plans to be developed.
• Utilizes the software and systems developed by CHI to submit capital business plans.
• Leads interactive discussions with CHI staff pertaining to details, assumptions, and risk areas pertaining to each capital business plan.

Leads and oversees the execution of other financial strategic projects.

• Coordinates, between departments (e.g. Accounting, Decision Support, Information Technology etc.) to ensure that year-end and updated budget financial information is captured and maintained in all appropriate financial systems in a timely, efficient and accurate manner.
• Monitors/tracks CHI requirements for data submittal/reporting; identifies data anomalies/inaccuracies and researches/resolves issues.

Performs related duties as required.

Education/Work Experience:

• Bachelor’s degree in accounting, finance or related field, that would demonstrate attainment of the requisite job knowledge/abilities and five years related work experience with complex financial analysis, preferably in the healthcare field. Previous Lead or Supervisor experience preferred. 
• Or any equivalent combination of education and experience which would demonstrate attainment of the requisite knowledge/abilities sufficient to perform the essential functions of the position.