Senior Financial Analyst
At Houston Methodist, the Senior Financial Analyst position is responsible for maintaining and performing complex data analysis related to the clinical or financial performance of the assigned entity or hospital and/or contractual relationship. The Senior Financial Analyst is also responsible for independently compiling and reporting information as requested by Financial Accounting, Internal Audit, Revenue Cycle, their department and entity management or administration. The Senior Financial Analyst works collaboratively with teams and may serve as a liaison with Information Technology Business Intelligence and other stakeholders, as needed. This position is actively involved in developing and advancing best practices and tools for business analysis.
The Senior Financial Analyst highlights performance issues, identifies problems and researches solutions and makes recommendations to management for continuous improvement. Reports statistical information in graphical and other presentation formats. Other responsibilities may include the assistance with annual operating budgets and maintenance of monthly dashboards of key indicators and external benchmarks. May also be assigned to additional responsibilities; such as payer reimbursement analysis and financial reconciliation.
Houston Methodist Standard
Refer to departmental "Scope of Service" and "Provision of Care" plans, as applicable, for description of primary age groups and populations served by this job for the respective HM entity.
Provide personalized care and service by consistently demonstrating our I CARE values:
- Integrity: We are honest and ethical in all we say and do.
- Compassion: We embrace the whole person including emotional, ethical, physical, and spiritual needs.
- Accountability: We hold ourselves accountable for all our actions.
- Respect: We treat every individual as a person of worth, dignity, and value.
- Excellence: We strive to be the best at what we do and a model for others to emulate.
- Practices the Caring and Serving Model
- Delivers personalized service using HM Service Standards
- Provides for exceptional patient/customer experiences by following our Standards of Practice of always using Positive Language (AIDET, Managing Up, Key Words)
- Intentionally collaborates with other healthcare professionals involved in patients/customers or employees' experiential journeys to ensure strong communication, ease of access to information, and a seamless experience
- Involves patients (customers) in shift/handoff reports by enabling their participation in their plan of care as applicable to the given job
- Actively supports the organization's vision, fulfills the mission and abides by the I CARE values
Responsibilities
People Essential Functions:
- Interacts with all levels within the department, other institutional departments, and across the organization as well as outside companies to resolve problems/errors or questions regarding basic accounting reconciliation items or financial performance in a timely manner.
Service Essential Functions:
- Assists department administrator, faculty members or department, hospital leadership and entity leadership in managing the departmental budget.
Quality/Safety Essential Functions:
- Reviews revenue projections, budget revisions, etc., for physician practice, academic department or assigned hospital or entity department(s)
Finance Essential Functions:
- Performs one or more of the following: - Supports and develops auditing, reporting and contract modeling tools as needed for identification and analysis of rate and/or fee schedule auditing, financial performance and contract performance as well as modeling and analysis of potential opportunities. - Maintains monthly dashboard of key indicators and external benchmarks as defined by management. Prepares and maintains revenue models. Compiles information needed for organization profit and loss statement as required. - Reviews contracts, calculates provider productivity bonuses/compensation models as appropriate. - Assists in preparation of gift, grant and contract budget proposals as needed. Assists in the oversight of department's financial files for all grant and donor funding. - Ensures/verifies that all faculty, staff and research personnel are charged to the appropriate funding source via submission of a salary re-allocation form as appropriate.
Growth/Innovation Essential Functions:
- Maintains and monitors procedures and Standards of Practice (SOP's) for reconciliation process. Maintain working knowledge of hospital and physician compensation methodologies and affecting government regulations, as applicable. Identifies areas for improvement and makes recommendations to management. Seeks out opportunities to grow knowledge of cost accounting system, clinical trials management systems or others and their relationship to other financial and non-financial systems. Shares knowledge and learnings with team.
Proactively manages own career development. Completes My Development Plan (MDP). Identifies and recommends opportunities to employ new or enhanced functionality in support of continued performance improvement. Develops and advances best practices and tools for business analysis.
This job description is not intended to be all-inclusive; the employee will also perform other reasonably related business/job duties as assigned. Houston Methodist reserves the right to revise job duties and responsibilities as the need arises.
Qualifications
Education:
- Bachelor's Degree in finance, accounting, healthcare administration, business administration or related field.
Work Experience:
- Three years of financial, budget or cost accounting analysis experience required; experience in a health care environment preferred
License/Certification
Licenses and Certifications - Required:
- N/A
Licenses and Certifications - Preferred:
- CHFP - Certified Healthcare Financial Professional (HFMA) AND
- CPA - Certified Public Accountant - State Licensure
KSA/ Supplemental Data
Knowledge, Skills, and Abilities:
- Demonstrates the skills and competencies necessary to safely perform the assigned job, determined through on-going skills, competency assessments, and performance evaluations.
- Sufficient proficiency in speaking, reading, and writing the English language necessary to perform the essential functions of this job, especially with regard to activities impacting patient or employee safety or security.
- Ability to effectively communicate with patients, physicians, family members and co-workers in a manner consistent with a customer service focus and application of positive language principles.
- Advanced analytical thinking and creative problem solving and ability to define a variety of approaches to business problems.
- Advanced knowledge of business process analysis, system requirements, data modeling and functional design.
- Strong project management skills.
- Strong statistical analysis and data reductions skills.
- If assigned to Hospital: Familiarity with hospital patient data bases and relationship to other financial and non-financial systems preferred.
- Working knowledge of cost accounting system(s).
Company Profile
Houston Methodist The Woodlands opened in 2017 as the eighth hospital in the Houston Methodist system. This 187-bed, 470,000-square-foot, full-service, acute care hospital offers many of the same services as our flagship hospital in the Texas Medical Center. Also on the $380 million hospital campus, located at the intersection of I-45 and TX 242, is a medical office building, which opened in 2016. Medical Office Building 1 includes a breast care center, cancer center & infusion center, orthopedics & sports medicine, rehabilitation services, wellness services, and an outpatient laboratory in addition to multi-specialty physician practices. A second medical office building and 785-car parking garage opened in 2018.