Cost Accountant

Medical Center Health System; Odessa (TX); On-site; USD 85,000 - 120,000; Full time

Job summary

Medical Center Health System seeks a cost accounting professional to oversee healthcare cost accounting activities and provide timely financial and operational insights to hospital leadership.

You will maintain cost-accounting methodologies, allocate costs across the organization, and partner with Finance, Revenue Cycle, IT, and clinical departments to drive cost, margin, and productivity improvements.

Qualifications

• Bachelor’s degree required; master’s preferred.
• CPA, CMA, CHFP or HFMA certification preferred.
• 1–3 years of accounting, cost accounting, financial analysis or healthcare finance experience.
• Experience with healthcare cost-accounting systems preferred.
• Experience analyzing large financial and operational datasets.
• LEAN or process-improvement experience preferred.

Responsibilities

• Responsible for healthcare cost accounting activities and timely information for leadership.
• Analyze patient, procedure, department, physician, payor and service-line performance.
• Translate complex information into actionable insights for hospital leadership.
• Maintain integrity of cost-accounting methodologies and allocate costs across the organization.
• Partner with Finance, Revenue Cycle, IT, clinical departments, and leaders to improve cost, margin, productivity, and operations.

Skills

Analytical skills

Communication

Problem solving

Team collaboration

Education

Bachelor's degree in related field

Master's degree preferred

Tools

Excel

Cost-accounting systems

Data analytics tools

Job description

Responsible for healthcare cost accounting activities that provide accurate, timely financial, clinical, and operational information to hospital leadership. Maintains and validates cost-accounting data, methodologies, allocation structures, and related reporting processes. Analyzes patient, procedure, department, physician, payor, and service-line performance and translates complex information into actionable insights.

Maintains the integrity of the hospital's cost-accounting methodology and supports the accurate allocation of financial and operational costs across the organization. Partners with Finance, Accounting, Revenue Cycle, Information Technology, clinical departments, and operational leaders to identify opportunities to improve cost, margin, productivity, and operational performance.

Education:

• Bachelor's degree from an accredited college or university in Accounting, Finance, Business Administration, Healthcare Administration, Economics, or a related field required.
• Master's degree in Accounting, Finance, Business Administration, or Healthcare Administration preferred.

Preferred Certifications and Professional Development:

• Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Healthcare Financial Professional (CHFP), or another relevant Healthcare Financial Management Association (HFMA) certification preferred.
• Relevant healthcare cost-accounting experience may be considered alongside professional certification, education, and other applicable experience.

Training and Experience:

• One (1) to three (3) years of accounting, cost accounting, financial analysis, healthcare finance, or closely related experience isrequired.
• Healthcare finance, hospital accounting, hospital cost accounting, or hospital operations experience preferred.
• Experience with healthcare financial or cost-accounting systems preferred.
• Experience analyzing and reconciling large financial and operational datasets required.
• LEAN or process-improvement experience preferred.

Job Knowledge:

• Knowledge of accounting principles, financial reporting, cost-accounting methodologies, allocation methods, variance analysis, and general-ledger relationships.
• Knowledge of direct and indirect costs fixed and variable costs, overhead allocation methodologies, and service-line profitability concepts is preferred.
• Advanced Microsoft Excel skills including PivotTables, lookup functions, formulas, data validation, and reconciliation of large datasets.
• Ability to prepare accurate recurring and ad hoc reports utilizing financial and operational information.
• Strong analytical, reconciliation, critical-thinking, and problem-solving skills.
• Excellent written and verbal communication skills.
• Ability to explain financial and cost-accounting information to financial and non-financial audiences.
• Ability to manage multiple priorities, meet deadlines, and work independently and collaboratively.
• Ability to maintain confidentiality and exercise sound professional judgment.

Unusual Physical Demands and Working Conditions:

A. Ability to perform:
1. Prolonged sitting and prolonged VDT (video display terminal) exposure.

2. Ability to lift to twenty (20) pounds.
B. Possible exposure to patients with infectious diseases