Senior Financial Analyst

Senior Financial Analyst

Boston Medical Center is an extraordinary community of health care providers devoted to the proposition that every person, regardless of his or her social or economic circumstances, deserves the best health care. Our mission is simple: to provide exceptional care, without exception. BMC provides superior, comprehensive care in virtually every medical specialty. Our physicians are leaders in their fields with the most advanced medical technology at their fingertips and a highlyskilled nursing and professional staff working with them side-by-side. No matter who you meet at BMC from the x-ray technician to the critical care nurse, the admissions staff to the chief of surgery all are committed to providing top-notch care to every patient and family member with respect, warmth and compassion. Located in Bostons historic South End neighborhood, BMC is a private, not-for-profit, 496-bed, academic medical center and the primary teaching affiliate for Boston University School of Medicine. Consistent with its mission to provide the best in health care to all, BMC is the largest safety net hospital in New England and reaches into the community as a founding partner of Boston HealthNet, a network of 15 community health centers through Boston serving more than a quarter million people annually. By combining a commitment to uncompromising excellence with a commitment to caring for those most in need, BMC has become a national model of care, and caring, for all.

Job Description

Responsible for operation and maintenance of cost accounting software and production of service line profitability reports. The analyst will function as an internal consultant, evaluating new programs and performing cost-benefits analysis and other analysis as needed. Analyzes financial information and develops revenue/expense analyses, projections, reports, and presentations. Works with department managers and administrators to evaluate new business opportunities. Locates data sources and identifies trends and developments in competitive environments. Presents findings to senior management. This position will work with hospital and physician leadership, Finance staff, department managers, administrators and others.

Qualifications

System maintenance and production:

• Maintain and update the decision support/cost accounting software (EPSI). This software will provide cost and revenue data which will permit the hospital to better understand the financial contribution of specific services. This will assist in business planning by giving the organization more precise and timely information on profitability. This includes identification of data sources, data review and validation
• Creates data feeds and develops algorithms to support calculation of both costs and revenues. Reviews and validates monthly data loads. Produces periodic reports.
• Maintain the decision support system (EPSI) SQL server database. Produce monthly reports on various volume and profitability metrics e.g. OR volume and profitability
• Work with the vendor on the pending decision support system upgrade and testing
• Works with the other analysts, vendor, and staff in other BMC departments to maintain the data in the system and trouble-shoot if necessary.

Development of Cost and Revenue estimates:

• Helps to lead the development of RVU-based costing methodology. Works with individual departments throughout the hospital to calculate BMC-based RVU values for specific services and procedures, to permit more accurate and detailed analysis of costs and profitability.
• Works with the other analyst to periodically maintain and update the departmental RVUs to reflect new services and operational changes.
• Works with other finance staff including Managed Care, Reimbursement, and Revenue Integrity to calculate the revenue associated with specific services. Develops revenue allocation methodologies for payors such as Medicaid that use SPAD and PAPE payment system.

Reporting and Analysis:

• Participates in the development of service line profitability reports. Creates and distributes reports.
• Work with ITS to develop profitability report on Business Objects e.g. Clinic P&L dashboard
• Support OR workgroups on volume and profitability data.
• Provides training to allow end-users to run reports and interpret the results. Develop profitability pivot tables to enable end- users to get the needed data
• Coordinates communication and roll-out of new reports. Meets with department managers, chiefs and others to help them understand the information presented.
• Creates new reports and analyses as needed, including development of reports to support ACO management, managed care contracting, and business planning for proposed new services.
• Supports development of financial models and business plans for new program proposals
• Completes ad-hoc financial analyses, special projects and other duties as requested on behalf of the Chief Financial Officer, Director of Financial Planning and Manager of Decision Support.

At Boston Medical Center, we understand that individuals like you who take on a role within the health care community possess an integral desire to help others achieve their best. We feel the same way about the careers we provide - we want to see you excel, on the job and in your personal time. That's why we've put together one of the most comprehensive, flexible benefits packages around, one that offers competitive wages, education and tuition assistance, as well as financial and wellness programs. Our aim is to give you everything you need to get the most out of life by offering you: Medical & Dental Coverage, Vision Care Coverage, Life Insurance, Accidental Death & Dismemberment (AD&D) Insurance, Disability Insurance, Medical and Dependent Care Flexible Spending Accounts (FSA), 403(b) Open Plan, BMC 403(b) Retirement Plan, Earned Time & Extended Sick Leave, Tuition Reimbursement, Employee Assistance Program, Mortgage Assistance Program, MBTA Passes, Parking