Houston Methodist
Financial Analyst- Physician Organization (onsite Medical Center)
Houston Methodist, Houston, Texas, United States, 77246
Overview
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.
Houston Methodist Standard
PATIENT AGE GROUP(S) AND POPULATION(S) SERVED Refer to departmental "Scope of Service" and "Provision of Care" plans, as applicable, for description of primary age groups and populations served by this job for the respective HM entity. HOUSTON METHODIST EXPERIENCE EXPECTATIONS Provide personalized care and service by consistently demonstrating our I CARE values:
INTEGRITY: We are honest and ethical in all we say and do. COMPASSION: We embrace the whole person including emotional, ethical, physical, and spiritual needs. ACCOUNTABILITY: We hold ourselves accountable for all our actions. RESPECT: We treat every individual as a person of worth, dignity, and value. EXCELLENCE: We strive to be the best at what we do and a model for others to emulate.
Practices the Caring and Serving Model Delivers personalized service using HM Service Standards Provides for exceptional patient/customer experiences by following our Standards of Practice of always using Positive Language (AIDET, Managing Up, Key Words) Intentionally collaborates with other healthcare professionals involved in patients/customers or employees' experiential journeys to ensure strong communication, ease of access to information, and a seamless experience. Involves patients (customers) in shift/handoff reports by enabling their participation in their plan of care as applicable to the given job Displays cultural humility, diversity, equity and inclusion principles Actively supports the organization's vision, fulfills the mission and abides by the I CARE values Responsibilities
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.
Qualifications
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 License/Certification
LICENSES AND CERTIFICATIONS - REQUIRED
N/A KSA/ Supplemental Data
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 SUPPLEMENTAL REQUIREMENTS
WORK ATTIRE
Uniform No Scrubs No Business professional Yes Other (department approved) No ON-CALL* *Note that employees may be required to be on-call during emergencies (ie. DIsaster, Severe Weather Events, etc) regardless of selection below.
On Call* No TRAVEL** **Travel specifications may vary by department**
May require travel within the Houston Metropolitan area No May require travel outside Houston Metropolitan area No
Company Profile
Houston Methodist Specialty Physician Group - As one of the nation's leading hospitals and academic medical centers Houston Methodist has brought together some of the nation's leading experts in multiple specialties to serve our patients. As part of Houston Methodist Specialty Physician Group (HMSPG), these specialists not only provide excellent clinical care, but are on the forefront of research, developing leading-edge technologies and treatments, and teaching the medical pioneers of tomorrow. This combination of clinical service, research and academics ensures patients have access to the latest in treatments and technologies while providing the best in comprehensive patient care. Established as a non-profit corporation and certified by the Texas State Board of Medical Examiners, HMSPG enables physicians to maintain autonomy with respect to their clinical practice while growing their practice within an academic environment.
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.
Houston Methodist Standard
PATIENT AGE GROUP(S) AND POPULATION(S) SERVED Refer to departmental "Scope of Service" and "Provision of Care" plans, as applicable, for description of primary age groups and populations served by this job for the respective HM entity. HOUSTON METHODIST EXPERIENCE EXPECTATIONS Provide personalized care and service by consistently demonstrating our I CARE values:
INTEGRITY: We are honest and ethical in all we say and do. COMPASSION: We embrace the whole person including emotional, ethical, physical, and spiritual needs. ACCOUNTABILITY: We hold ourselves accountable for all our actions. RESPECT: We treat every individual as a person of worth, dignity, and value. EXCELLENCE: We strive to be the best at what we do and a model for others to emulate.
Practices the Caring and Serving Model Delivers personalized service using HM Service Standards Provides for exceptional patient/customer experiences by following our Standards of Practice of always using Positive Language (AIDET, Managing Up, Key Words) Intentionally collaborates with other healthcare professionals involved in patients/customers or employees' experiential journeys to ensure strong communication, ease of access to information, and a seamless experience. Involves patients (customers) in shift/handoff reports by enabling their participation in their plan of care as applicable to the given job Displays cultural humility, diversity, equity and inclusion principles Actively supports the organization's vision, fulfills the mission and abides by the I CARE values Responsibilities
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.
Qualifications
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 License/Certification
LICENSES AND CERTIFICATIONS - REQUIRED
N/A KSA/ Supplemental Data
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 SUPPLEMENTAL REQUIREMENTS
WORK ATTIRE
Uniform No Scrubs No Business professional Yes Other (department approved) No ON-CALL* *Note that employees may be required to be on-call during emergencies (ie. DIsaster, Severe Weather Events, etc) regardless of selection below.
On Call* No TRAVEL** **Travel specifications may vary by department**
May require travel within the Houston Metropolitan area No May require travel outside Houston Metropolitan area No
Company Profile
Houston Methodist Specialty Physician Group - As one of the nation's leading hospitals and academic medical centers Houston Methodist has brought together some of the nation's leading experts in multiple specialties to serve our patients. As part of Houston Methodist Specialty Physician Group (HMSPG), these specialists not only provide excellent clinical care, but are on the forefront of research, developing leading-edge technologies and treatments, and teaching the medical pioneers of tomorrow. This combination of clinical service, research and academics ensures patients have access to the latest in treatments and technologies while providing the best in comprehensive patient care. Established as a non-profit corporation and certified by the Texas State Board of Medical Examiners, HMSPG enables physicians to maintain autonomy with respect to their clinical practice while growing their practice within an academic environment.