Cost Accountant

at  Beverly Hills Specialist Hospital

JOB SUMMARY:

We are seeking a highly skilled and detail-oriented Cost Accountant to join our finance team. The Cost Accountant will be responsible for managing and analyzing the costs associated with our healthcare services, ensuring compliance with the Abu Dhabi Clinical Costing Standards. This role involves preparing cost reports, conducting variance analysis, and collaborating with various departments to optimize financial performance.

QUALIFICATIONS:

• Education: Bachelor’s degree in Accounting, Finance, or a related field.
• CPA or CMA certification is preferred.
• Experience: Minimum of 1-4 years of experience in cost accounting, preferably in a healthcare sector.

SKILLS:

• Strong analytical and problem-solving skills.
• Proficiency in accounting software and Microsoft Excel.
• Excellent communication and presentation skills.
• Ability to work collaboratively with cross-functional teams.
• Knowledge of Abu Dhabi Clinical Costing Standards and healthcare financial regulations.
  Job Type: Full-tim

• Cost Data Collection and Analysis:
• Collect and analyze data related to operational costs, including labor, materials, and overhead.
• Identify and classify expenses into direct and overhead cost center’s.
• Develop and maintain cost standards for healthcare services.
• Cost Allocation:
• Allocate overhead costs to final cost centers using appropriate methods (e.g., reciprocal, step-down).
• Ensure accurate allocation of costs to patient encounters and healthcare products.
• Financial Reporting:
• Prepare and present periodic cost reports to management.
• Conduct cost-volume-profit (CVP) analysis to support financial decision-making.
• Assist in the preparation of financial statements and month-end closings.
• Budgeting and Forecasting:
• Work with management to establish cost standards and financial forecasts.
• Monitor organizational spending and provide insights for budget optimization.
• Compliance and Audit:
• Ensure compliance with DOH standards and guidelines for clinical cost data collection.
• Prepare audit reports and present findings to management.
• Conduct regular physical inventories and audits to reconcile inventory accounts.
• Process Improvement:
• Identify and recommend cost-effective solutions and strategies to management.
• Review and suggest changes to the company’s processes and policies to reduce costs and maximize profit.
• Quality Assurance:
• Perform quality checks and validations of cost data.
• Maintain documentation of costing processes and methodologies.
• Reconcile financial and patient-level information to source systems to avoid errors.