Job DescriptionJob SummaryOperating with minimal supervision from Finance management, the incumbent will provide accurate, timely, and actionable financial analysis to support the volume, business, and profitability decisions of their assigned Clinical Institute(s). Serve as the primary Finance representative and meeting facilitator for assigned Institutes, leading monthly meetings with Institute's director, managers, and contributor level leadership across various service lines such as inpatient care, surgeries, diagnostics, therapeutics, etc. The incumbent will proactively surface financial opportunities and risks identified through analysis and bring forward actionable recommendations to Finance management. They will independently execute and deliver ROI analysis and financial modeling, including discounted cash flows, net present values, and internal rate of returns, and provide Finance management with updates prior to distribution. In addition, the incumbent will participate in organizational committees, taking an increasingly active and contributory role in shaping financial outcomes, costing methodology, and analytical standards.
This position is the Institute Leader's dyad for all financial matters, though will support whatever other needs the Clinical Institute requires.
ResponsibilitiesPrimary Duties & Responsibilities- Assist in the preparation of monthly and quarterly profitability reports by compiling and organizing data under the direction of Finance, contributing to the synthesis of findings into actionable insights
- Support the preparation of materials for quarterly financial presentations of their respective Clinical Institute for Hoag's Senior Management Team, with the review of Finance management
- Complete ad hoc analysis requests that may include business volumes, general ledger comparisons, and financial impacts generated from monthly meetings, operations leadership inquiries, or the Finance management as prioritized by Finance management
- Develop an understanding of how volumes affect revenues, costs, and margins, applying this knowledge to assigned tasks under the guidance of Finance management or senior team members
- Learn the different drivers of revenue and how they affect Institute financial performance through on-the-job training and mentorship from the Finance management
- Build foundational knowledge of Costing methodologies under the direction of the Finance management or senior analysts, applying this understanding to support profitability reporting tasks
- Interpret department's income statements performance to budget and performance to trends
- Identify potential areas of discrepancy in costing results, dashboards, or reports during financial and cost analysis and escalate findings to Finance management for review, validation, and resolution
- Support the development of financial proformas and ROI models led by Finance management by preparing the necessary underlying data and model inputs as directed
- Maintain, monitor, and distribute daily and monthly reconciliations of data loaded from electronic medical records to finance performance management system
- Ensures the finance performance management system decision support dictionary tables are maintained on a weekly basis; job codes, physicians, departments, general ledger accounts, and pay codes
- Performs other duties as assigned including Ad Hoc financial analytics that support the costing and decision support finance functions, under the supervision of Finance management
QualificationsEducation and Experience Bachelor's degree in accounting/finance preferred or other related field.
Minimum of 6+ years' experience as a financial analyst with 1-2 years in hospital cost accounting experience.
- Is comfortable organizing and managing meetings with Executive level leadership
- Has provided guidance and some oversight to junior analysts
Preferred:4+ years hospital/healthcare or 2-3 years in hospital/healthcare cost accounting experience highly desirable
Licenses: N/A
Certifications: N/A
