Senior Financial Analyst

Boston Medical Center; Boston (MA); On-site; USD 65,000 - 85,000; Full time

Benefits offered by this job

Medical & Dental Coverage

Vision Care Coverage

Life Insurance

Disability Insurance

Tuition Reimbursement

Employee Assistance Program

Parking

Job summary

Boston Medical Center in Boston is looking for a dedicated Cost Accounting Analyst who will be responsible for maintaining cost accounting software and developing profitability reports. The ideal candidate will work closely with finance staff and department managers to support financial analyses and decision-making.

This role requires excellence in data management and reporting, and a commitment to contribute to BMC's mission of exceptional healthcare.

The position offers comprehensive benefits including medical coverage, tuition reimbursement, and retirement plans.

Qualifications

• Experience in maintaining and updating cost accounting software.
• Strong analytical skills to evaluate financial data.
• Ability to develop and maintain financial reporting models.

Responsibilities

• Analyze financial information for decision-making.
• Maintain decision support system and produce reports.
• Support the development of service line profitability reports.

Skills

System maintenance

Cost analysis

Data management

Financial reporting

SQL database management

Tools

EPSI software

SQL Server

Business Objects

Job description

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.

As a private, not-for-profit, 496-bed academic medical center and the primary teaching affiliate for Boston University School of Medicine, BMC is the largest safety net hospital in New England, serving more than a quarter million people annually.

Located in Boston's historic South End, BMC is recognized for its commitment to uncompromising excellence and compassionate care 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 troubleshoot 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.

Additional Information

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