Senior Decision Support Analyst

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Department:
Finance

Schedule/Status:
8:00am-4:30pm; Full Time

Standard Hours/Week:
40

General Description:
Reporting to the Director of Financial Planning, the Sr. Decision Support Analyst provides decision support and strategic financial performance analytics for Parrish Medical Center. Decision Support services include analysis across a range of topics, including entity, service line, and department performance, ROI, and benchmarking analysis, business/strategy planning, predictive and forecast modeling, volume trend analysis, case mix index, reimbursement and costing. The Sr. Decision Support Analyst applies the principles and methodologies of cost accounting to conduct useful studies and provide detail cost information timely. Responsible for mastering various systems and financial planning tools, the Sr. Decision Support Analyst provides decision support for key business decisions, turning data and information into knowledge, researching and data mining to provide ad hoc reports for value added outcomes and effective decision making. The Decision Support Analyst also assists the Director of Financial Planning with revenue variance analysis on a monthly basis, during close and as needed. Assists with the compilation of month-end net revenue calculations and analyses using the Revenue Cycle Analytics (RCA) tool. The Sr. Decision Support Analyst oversees the work of the Financial Planning Data Specialist

Key Responsibilities:

• Works closely with clinical and financial staff at the hospitals to develop meaningful analysis that will achieve expense reductions, improve services or increase in program revenues. Analyzes the hospital costs and develops comparative studies of internal costs to external databases and state reports and best practices.
• Preparation of periodic and special reports or analysis as required. Provides expertise to care partners and teams attempting to improve financial performance with healthcare Decision Support information. Supports Lean initiatives requiring Decision Support participation and internal Lean efforts.
• Act as an internal consultant to the hospital leadership as needed for the cost accounting function. Actively promote the use of cost accounting data where appropriate for making financial and clinical decisions.
• Prepares profitability, utilization and budget variance analysis. Analyzes and documents major budget variances for management and department heads. Manages the analysis of the service lines, including actual performance to budget and to previous periods and assists in the explanations using basic business fundamentals so as to provide management with an understanding of the direction of the business. Prepares analysis to keep the CFO and senior administration aware of the strategic/financial/operations issues.
• Coordinates and facilitates the work of the Data Governance Committee. Maintains a data dictionary to be used in completing report requests. Serves as a liaison in the standardization and consistency in data sources and terminology used to describe data.
• Develops work plans and coordinates revisions and updates to reports and templates used in month end processes and other reporting cycles. Implements processes to improve overall efficiency and effectiveness of data capture and reporting. Queries decision support and financial reporting tools for ad hoc reports used for decision making.
• Acts as primary liaison with decision support and financial reporting tool vendors to resolve reporting errors or advance report formats.
• Works closely with the person responsible for the hospital's charge master. Oversees the development of Relative Value Units (RVUs) for all new patient chargeable items.
• Evaluates and recommends changes as appropriate for maximum effectiveness of the decision support and financial reporting tools, cost accounting methodology, policy and procedures. Develops project management processes and schedules to ensure effective and timely delivery of services.
• Assists with revenue variance analysis on a monthly basis, during close and as needed. Assists with the compilation of month-end net revenue calculations and analyses using the Revenue Cycle Analytics (RCA) tool. Prepares supporting documentation in a timely and accurate manner. Creates and analyzes reports on revenue, payment trends, and other special requests.
• As instructed by the Director of Financial Planning, provides documentation to accounting teams for preparation of journal entries and reconciliations for patient accounts receivable reserves, including contractual allowances, administrative adjustments, charity and bad debts in a timely and accurate manner.
• Participates in the implementation of the Revenue Cycle Analytics (RCA) tool to include developing mapping tables, reconciling daily and monthly interfaces, and participating in implementation meetings.
• Supports annual internal/external financial audits to ensure accuracy of valuations of net patient accounts receivables. Stays abreast with State, Federal and Payer regulations and procedures.
• Assists in the preparation of the annual operating budget, reports as requested by management, external agencies. Assists with analysis on third-party contract negotiations. Assists with capital budget and works with departments to create return on investment analysis. Prepares annual Budget Preparation Processes preparing revenue and contractual projections by Payor coordinating with Director of Financial Planning on Revenue/Statistic estimates.
• Knows fire, disaster, and safety procedures and regulations as pertains to the work area. Performs similar or related duties as assigned.

Requirements:

Formal Education

• Bachelor's degree in accounting, finance, management information services or related field required.
• Master's degree preferred.

Work Experience

• 5 years to < 7 years

Required Licenses and Certifications

• N/A

Parrish Healthcare is a caring community of healthcare professionals passionate about excellence and fulfilling our mission of providing Healing Experiences For Everyone All The Time®.

Parrish Healthcare has a Culture of Choice®. This means a we have a healing work environment that empowers people to aspire to be their very best. We partner passionate, talented and skilled people in the right role with the right resources. We provide a clear and strategic direction to achieve superior results on behalf of the communities we serve.