Financial Analyst

at  Houston Methodist

At Houston Methodist, the Financial Analyst position is responsible for maintaining and analyzing data related to the financial performance of the assigned entity, hospital(s), and/or contractual relationship. The Analyst is also responsible for compiling and reporting information as requested by Financial Accounting, Internal Audit, Revenue Cycle, their department, and entity management. Responsible for the routine analysis of data, and monthly reporting. The Financial Analyst highlights performance issues, identifies problems and researches solutions. 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.

EDUCATION

• Bachelor’s degree in finance, accounting, healthcare administration, business administration or related field

WORK EXPERIENCE

• One year experience of financial, budget or cost accounting preferred

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.
• Analytical thinking and creative problem solving and ability to define a variety of approraches to business problems
• Understanding of business process analysis, system requirements, data modeling and functional design
• Project Management skills

COMPANY PROFILE:

Houston Methodist is one of the nation’s leading health systems and academic medical centers. Houston Methodist consists of eight hospitals: Houston Methodist Hospital, its flagship academic hospital in the heart of the Texas Medical Center, and seven community hospitals throughout the greater Houston area. Houston Methodist also includes an academic institute, a comprehensive residency program, a global business division, numerous physician practices and several free-standing emergency rooms and outpatient facilities. Overall, Houston Methodist employs more than 27,000 employees and is supported by a wide variety of business functions that operate at the system level to help enable clinical departments to provide high quality patient care.
Houston Methodist is an Equal Opportunity Employer.
Equal employment opportunity is a sound and just concept to which Houston Methodist is firmly bound. Houston Methodist will not engage in discrimination against or harassment of any person employed or seeking employment with Houston Methodist on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, status as a protected veteran or other characteristics protected by law. VEVRAA Federal Contractor – priority referral Protected Veterans requested

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.
• Effectively and proactively communicates with all stakeholders to resolve issues and discrepancies in a timely manner and ensures their accurate understanding of the analytics.

SERVICE ESSENTIAL FUNCTIONS

• Extracts actual and budget financial accounting General Ledger (G/L) data or financial data from appropriate sources to report and reconcile with appropriate leadership. Generates accurate and timely reports.
• upports department management with preparation of the annual operating and capital budget. Submits invoices and follows-up with industry partners as needed. In addition, prepares necessary journal entries for coordinator effort and Principal Investigator (PI) oversight as assigned.

QUALITY/SAFETY ESSENTIAL FUNCTIONS

• Reviews revenue projections, budget revisions, etc., for physician practice, academic department or assigned hospital entity and department(s).
• Monitors and reports key system operational indicators and alerts leadership potential performance issues.
• Follows all internal audit requirements for appropriate system applications.
• Utilizes/enhances tools to improve the accuracy of financial analytics and enhance revenue opportunities.

FINANCE ESSENTIAL FUNCTIONS

• Performs one or more of the following:
• Supports the development of 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 grants, contracts, and donor funding and verifies that all faculty, staff and research personnel are charged to the appropriate funding source via submission of a salary reallocation form as appropriate.
• Utilizes resources effectively and efficiently, demonstrating financial stewardship. Manages own time effectively and prioritizes work to achieve maximum results in a timely manner.

GROWTH/INNOVATION ESSENTIAL FUNCTIONS

• Maintains procedures and Standards of Practice (SOP’s) for reconciliation process.
• Maintains working knowledge of cost accounting system, clinical trials management systems or others and their relationship to other financial and non-financial systems. Maintains working knowledge of hospital and physician compensation methodologies and affecting government regulations, as applicable.
• Proactively manages own career development. Completes My Development Plan (MDP).
  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.