Pharmacy Analyst - 340B

WVU Medicine; Northern (KY); Hybrid; USD 70,000 - 100,000; Full time

Job summary

The West Virginia University Health System, WVU Medicine, seeks a Pharmacy Financial Analyst to coordinate fiscal management, perform data analysis, and maintain departmental statistics and reports. You’ll work with 340B analysts, coordinators, managers and pharmacy leadership to optimize costs and reporting.

Ideal candidates have strong data analysis, budgeting and financial reporting skills, with experience in healthcare.

Qualifications

• Bachelor’s degree in Information Technology, Business Management, Hospital Administration, Accounting, Finance or related field and two years’ experience in pharmacy/healthcare OR one year with pharmacy financial reporting.
• Associate degree in IT/Business/Hospital Administration/Accounting/Finance and four years in pharmacy/healthcare OR three years with pharmacy financial reporting.
• High School Diploma and eight years’ experience in a healthcare setting.

Responsibilities

• Ensure billing procedures are accurate and timely.
• Coordinate accounting and financial processes to maximize daily efficiency.
• Review medication purchases, revenue, contract pharmacy fees and contract pharmacy relationships.
• Coordinate system-wide accounting functions for accuracy and consistency.
• Lead 340B entity tracking for split billing and savings in monthly/quarterly/annual financials.
• Maintain forecast analyses and validate forecasts for presentation to Director.
• Ensure utilization of 340B programs for eligible clinics.
• Evaluate opportunities to shift inpatient to outpatient administration.
• Monitor 340B accumulation levels and advise management.
• Coordinate with Premier and AmerisourceBergen for 340B compliance and savings opportunities.
• Monitor monthly budget variance and identify significant activity.
• Generate year-end budget vs. actual reports for each cost center.
• Provide data to support department performance improvement in drug utilization, purchasing, billing and reimbursement.
• Produce monthly pharmacy spend advisor reports and implement recommended changes with Pharmacy Manager & Buyers.
• Document expenditure activity by account and reconcile with general ledger.

Skills

Data analysis

Budgeting

Financial reporting

Healthcare operations

Education

Bachelor’s degree

Associate degree

High school diploma

Tools

Excel

Access

Job description

Welcome! We’re excited you’re considering an opportunity with us!

Below, you’ll find other important information about this position.

The primary focus of the position is to support the operational efficiency of the Pharmacy Department by coordinating fiscal management activities, performing data analysis, and maintaining departmental statistics and reports. Data base development, project management, cost accounting, and IT skills will be employed to work with 340B Analyst, Coordinators, Managers, Director, and pharmacy administration.

MINIMUM QUALIFICATIONS

EDUCATION, CERTIFICATION, AND/OR LICENSURE:

• Bachelor’s degree in Information Technology, Business Management, Hospital Administration, Accounting, Finance or other related field, AND Two (2) years of experience in pharmacy or healthcare OR one (1) year of experience with pharmacy financial reporting.
• Associate degree in Information Technology, Business Management, Hospital Administration, Accounting, Finance or other related filed, AND Four (4) years of experience in pharmacy OR healthcare OR Three (3) year of experience with pharmacy financial reporting.
• High School Diploma AND Eight (8) years' experience in a healthcare setting

EXPERIENCE:

• Two (2) years of experience in a professional capacity in healthcare, preferably in Pharmacy.

PREFERRED QUALIFICATIONS

EDUCATION, CERTIFICATION, AND/OR LICENSURE:

• 1. Bachelor’s degree in information technology, Business Management, Hospital Administration, Accounting, Finance or other related field.

EXPERIENCE:

• 1. Direct experience in data analysis and/or health care planning background preferred.
• 2. Two (2) years of experience in a professional capacity in healthcare, preferably in Pharmacy.

CORE DUTIES AND RESPONSIBILITIES

The statements described here are intended to describe the general nature of work being performed by people assigned to this position. They are not intended to be constructed as an all-inclusive list of all responsibilities and duties. Other duties may be assigned.

• Assures that billing procedures performed by the department are accurate and timely.
• Coordinates accounting and financial processes to maximize efficiency in the daily accounting operations. Ensure that internal control measures are being followed.
• Routinely reviews medication purchases, revenue, contract pharmacy fees and the viability of Contract Pharmacy relationship.
• Assures and Coordinates accounting functions across the System for accuracy and consistency.
• Lead and Coordinate all System 340B entities in Split Billing Hospital Owned and Contract Pharmacy tracking of variances and savings for monthly\quarterly\annual financials.
• Maintains all the Contract Pharmacy forecast analysis and confirms validity of forecasts for presentation to Director.
• Assures utilization of 340B programs for eligible provider-based clinics.
• Coordinates with Managers to evaluate practice change opportunities that would allow inpatient medication administration to be switched to outpatient medication administration.
• Evaluates negative 340B accumulation levels and makes recommendations to 340B Management Program managers.
• Monitors purchases for contract compliance and accurate pricing.
• Coordinates with Premier (GPO) and Amerisource Bergen to assist 340b compliance and identify savings opportunities that we are not taking advantage of at this time. Relay those items to 340B Management Program Managers to implement changes when possible.
• Monitors monthly budget variance, identifies significant activity.
• Generates a year-end report of budget versus expended dollars based on reconciliation of budget with the general ledger, for each cost center by account.
• Compiles data, profiles comparisons and generates reports related to current expenses to serve as the basis for the asking budget.
• Provides data to support department performance improvement activities related to drug utilization, purchasing, billing and reimbursement.
• Generates pharmacy spend advisor reports on a monthly basis to ensure that we are purchasing pharmaceuticals in the most cost-efficient manner. Communicate those opportunities to Pharmacy Manager & Buyers. Follow up to assist with implementation of changes.
• Documents expenditure activity by account by cost centers as expenditures are processed and according to accepted accounting practices.
• Reconciles department current expenditure documentation with the hospital general ledger and rectifies errors within 30 days.
• Identifies irregular spending and system failures related to current expense activity and reports to department Director.
• Interacts with system hospital departments responsively and productively to promote efficient systems interface and problem resolution related to fiscal and clinical management.
• Interacts regularly with the department management team and System Director of Pharmacies to supply revenue, drug expense and contract pharmacy information identifying irregularities and provide recommendations.
• Assist in completing and compiling financial support documentation for budget and external audit purposes.
• Works with department management in the development and implementation of departmental goals and objectives.
• Participates in the planning and implementing change and maintaining the improving productivity through attendance and participation in staff meetings, committees, task forces and projects.
• Participates in the education of 340B professionals as it pertains to Split Billing (SB), Split Matching and Contract Pharmacy relationships.
• Accountable agent for net profit on Split Billing, Split Matching and Contract Pharmacy.
• Responsible for maintenance of financial records related to Split Billing, Split Matching and Contract Pharmacy.
• Responsible for documentation of policy and procedures.
• Assure appropriate safeguards and system integrity.
• Review and refine 340B cost savings report detailing purchasing and replacement practices, as well as dispensing patterns.
• Monitor ordering processes, integrating most current pricing from wholesaler, analyze invoices, shipping, and inventory processes.

PHYSICAL REQUIREMENTS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of this position, the employee is required to walk and stand for long periods of time.
• Must be able to lift 30 pounds and must be able to push 50 pounds.
• Dexterity required to finger, handle, and reach.

WORKING ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Normal office and pharmacy environment.

SKILLS AND ABILITIES

Extensive working knowledge of Microsoft Office applications Excel & Access.

ADDITIONAL JOB DESCRIPTION

Scheduled Weekly Hours: 40

Shift: Exempt/Non-Exempt:

United States of America (Exempt)

Company: SYSTEM West Virginia University Health System Cost Center: 500 SYSTEM Administration

Thank you for your interest in working for WVUM.

The West Virginia University Health System is West Virginia’s largest health system and the state’s largest employer with more than 3,400 licensed beds, 4,600 providers, 35,000 employees, and $7 billion in total operating revenues. The Health System is comprised of 25 hospitals – including J.W. Ruby Memorial Hospital, an 880-bed academic medical center, and the 150-bed WVU Medicine Children’s Hospital in Morgantown, West Virginia – and five institutes. To learn more, visit WVUMedicine.org.