Decision Support Analyst II (Financial Analyst)
Job ID: 89330
Area of Interest: Professionals
Location: Linthicum,MD US
Hours of Work: M-F,9a-5p
Job Facility: University of Maryland Medical System
Employment Type: Full Time
What You Will Do:
Under limited supervision, performs financial and clinical decision support services. Researches, design, negotiates and executes financial decision support projects with clinical and administrative staff. Utilizes the decision support system (PDS), independently prepares various reports, surveys and special projects as requested by management in accordance with departmental procedures. Operations include: Budgeting, Cost Accounting, Clinical Resource Management, System Operations, and Financial Business Planning.
Principal Responsibilities and Tasks
The following statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all job duties performed by personnel so classified.
1. Provides support to department staff in the day to day operations of the Department and in accordance with UMMS policies and procedures.
2. Utilizing the decision support and financial systems, independently prepares various reports, surveys and special projects as requested by management in accordance with departmental procedures.
3. Provide analytical and technical support regarding cost accounting analysis, budgeting analysis, clinical utilization analysis and financial planning analysis.
Specialization in Hospital Decision Support
1. Prepares and/or validates assumptions, calculations, schedules and other documentation in developing the organization’s annual capital and operating budgets in accordance with generally accepted accounting principles (GAAP) and departmental procedures.
2. Participates in the analyses of financial and statistical reports to ascertain trends and to isolate deviations from established plans in accordance with GAAP and report such data to management.
3. Compiles financial and statistical reports of a specific nature in accordance with departmental procedures. This includes preparing monthly financial statements and other regular management reports, analyzing nominal accounts to determine the adequacy of presentations based upon accruals, calculation, estimates and general provisions.
4. Monitors and investigates transactions. Reviews and verifies transactions to confirm authorization, conformity with the capital or operating budget, compliance with expenditure management policy, and the adequacy of coding to support accounting systems and management reports in accordance with departmental procedures.
5. Communicates with various departments in order to resolve various budget-related financial problems and procedures. Reviews with cost center managers, on a routine basis, the financial reports for their areas. Assists manager/analyst in understanding variances from budget and assists in documenting new issues that impact the current and future budget development.
6. Maintains a working knowledge of the hospital’s financial and patient accounting practices and uses this information to create/modify cost accounting methodology within the decision support system.
7. Prepares and/or validates assumptions, complex calculations, schedules and other documentation in developing the decision support clinical services profitability statements and other Medical Center analyses.
8. Communicates with various departments on changes surrounding operational and financial charges and incorporates these changes into the cost accounting methodology.
Specialization in Clinical Analysis
1. Ensures clinical analyst data quality and integrity.
2. Develops, implements, and maintains executive reporting tool in coordination with the Intranet Committee.
3. Responsible for maintaining accuracy and data integrity in the decision support system through audits and routine reviews of data.
4. Responsible for contributing to the creation and analysis of service line Profit and Loss to support decision-making and change within UMMC UMMS departments.
5. Using the decision support system responsible for maintaining and analyzing accurate and timely revenue, cost and utilization data used by all levels of management within the organization.
6. Using decision support system data and analysis, direct and guide all levels of the institution in the strategic decision-making process while maintaining the required degree of confidentiality and professionalism.
7. Communicates with groups of various sizes to discuss/debate alternatives with other professionals and/or arbitrate differences of opinion or focus related to decision support system.
Specialization in Strategic Financial Planning and Subsidiary Ventures
1. Prepares and/or validates assumptions, complex calculations, schedules and other documentation in developing the Medical Centers and Medical Systems annual capital and operating budgets in accordance with generally accepted accounting principles (GAAP) and departmental procedures
2. Development of long-term financial forecasts that incorporate the changes in patient service activity, the reimbursement environment, payor mix, operating costs, capital financing structure and overall capital requirements primarily utilizing the ENUFF model.
3. Maintains the Medical System’s strategic capital plan and determines how these capital issues will affect the long-range financial forecast. Produces regular updates of this document for internal use.
4. Reports and maintains external and internal benchmarking indicators.
What You Need to Be Successful:
Education and Experience
1. Bachelor’s degree in Finance, Accounting or a related field is required. Experience in Decision Support may be substituted for education.
2. Three years progressively responsible financial planning, financial analysis, budgeting, managed care or accounting experience is required.
3. Healthcare-related finance background is preferred.
Knowledge, Skills and Abilities
1. Working knowledge of at least one Decision Support application (i.e., budgeting, cost accounting, clinical resource management) of the Pathways Decision Support Product.
2. Working knowledge of financial software, financial analysis and generally accepted accounting principles (GAAP)
3. Ability to judge the level of confidentiality of information / activities involved in and exhibit integrity in use of dissemination of such information.
4. Ability to communicate regularly with various UMMS departments and senior management to provide analytical and technical support regarding cost accounting analysis, budgeting analysis, clinical utilization analysis, financial planning analysis, and managed care.
5. Proficient knowledge of spreadsheets (i.e., Lotus, Microsoft Excel), databases (i.e., DBASE, Microsoft Access), word processing programs (i.e., Microsoft Word), graphic/specialty and other finance-related software programs.
6. Highly effective verbal and written communication skills are necessary in dealing with a variety of healthcare and finance professionals including senior management staff.
7. Ability to develop and evaluate complex financial data via use of computer analysis.
8. Excellent organization and problem-solving skills and team leadership skills are required to develop and implement efficient work processes. Ability to work in a stressful environment.
9. Ability to work effectively in a matrix work environment.
We are an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.
We are an Equal Opportunity / Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law. EEO IS THE LAW