Senior Financial Analyst, Pharmacy - Albany, United States - Albany Medical Center

Description

Department/Unit:
Budget & Planning

Work Shift:
Day (United States of America)

Salary Range:
$65, $107,348.80Senior Financial Analyst The Pharmacy Financial Planning Specialist will be primarily responsible for supporting system-wide financial planning and analysis processes for Pharmacy, including Pharmacy-related value analysis. The position will provide comprehensive analyses needed by Pharmacy teams in order to achieve critical business goals. The Pharmacy Financial Planning Specialist will collaborate with various departments to develop financial modeling techniques that consider numerous factors, including 340B implications, to assist with budgetary forecasting and variance analysis for pharmaceutical revenue and expenses. This position will extract and analyze data, develop analytical tools, measure performance to targets, identify issues and opportunities, and present recommendations to Pharmacy, Finance, and other applicable internal leadership.


Essential Duties and Responsibilities:

• Primary individual responsible, in collaboration with Finance, Pharmacy, and Legal, for development of financial analysis to support impact assessment for Pharmacy-related business plans and strategic initiatives. Develops and maintains expertise regarding the 340B drug program in order to ensure appropriate consideration of program impacts and opportunities in development of financial plans and analysis of financial impact of initiatives. Performs in-depth analysis of performance on revenue and cost aspects for the system's involvement in the 340B program, including financial analysis of contract pharmacy activity. Acts as the primary financial analysis resource for the P&T committee in its consideration of new drug requests and deletions from the formulary. Provides analysis to be used by the Pharmacy team to develop operating and capital budgets. Develops and maintains an in-depth understanding of Pharmacy operations in order to facilitate ability to provide high-quality financial analysis. Develops standardized analytic tools and key metrics, and facilitates efficient reporting processes to enable monitoring of Pharmacy finances and reporting on specific initiatives. Develops expertise in using various information systems (EPIC HER, Workday ERP, Strata Jazz) to support this key responsibility. Provides financial information and analysis used by Pharmacy staff to understand deviations from budget and assists in financial aspects of developing corrective action plans to address variances. Develops and maintains expertise regarding payor-specific drug reimbursement practices and the various cost measures (ex. ASP) impacting reimbursement and costs for pharmaceuticals. Provides analysis for the Revenue Integrity team to support standardization, efficiency, and effectiveness of the Pharmacy revenue cycle, including maximization of charge capture and reimbursement for pharmaceuticals.

Qualifications:

• Bachelor's Degree in Accounting, Finance, or Pharmacy related field - required MBA or CPA - preferred years of business or healthcare finance experience - required 3 years of project management experience - preferred 1-3 years previous experience using Lean and/or Six Sigma structured business process improvement - preferred Prior experience performing complex data analysis with experience creating data models to support business decisions - required Previous experience with Workday, StrataJazz, or Epic - preferred Knowledge of the regulatory environment as it relates to health care reimbursement, compliance, and the 340B drug program - preferred Ability to read and comprehend instructions Excellent oral and written communication skills Ability to translate and make complex subject matter understandable to a diverse customer base Facilitation and presentation skills Effective Project and Change Management skills, including initiating, planning, design, executing, monitoring, closing, and post?event evaluation Strong interpersonal skills. Self?starter with ability to deal with ambiguity and frequent change Ability to work in an independent proactive manner effectively managing multiple concurrent projects involving internal customers, external vendors, and other shareholders. Ability to be an effective contributor as an individual and team member in a fast?paced, ever?changing environment Ability to document findings and analysis, including system and process documentation Solid data analysis skills and familiarity with spend analysis, contract management and other decision support tools and concepts Drive to learn and understand product specifications, supply chain systems, and business relationships Ability to perform the job according to conduct defined by the AMC Code of Conduct and Employee Manual Ability to use good judgment when performing the functions of the job or when interacting with others Accept and carry out direction, work cooperatively with others and avoid interpersonal conflict Adhere to AMC policies, procedures, and practices, and to utilize AMC's problem?solving processes for resolving grievances or disagreements Intermediate?level competency with Microsoft Windows, Outlook, Word, PowerPoint, Teams, WebexAbility to work at an advanced level within Microsoft Excel to provide sufficient data analysis and presentation Prior experience performing complex data analysis with experience creating data models to support business decisions Business or healthcare finance experience Equivalent combination of relevant education and experience may be substituted as appropriate.

Physical Demands+ Standing

• Occasionally+ Walking
• Occasionally+ Sitting
• Constantly+ Lifting
• Rarely+ Carrying
• Rarely+ Pushing
• Rarely+ Pulling
• Rarely+ Climbing
• Rarely+ Balancing
• Rarely+ Stooping
• Rarely+ Kneeling
• Rarely+ Crouching
• Rarely+ Crawling
• Rarely+ Reaching
• Rarely+ Handling
• Occasionally+ Grasping
• Occasionally+ Feeling
• Rarely+ Talking
• Constantly+ Hearing
• Constantly+ Repetitive Motions
• Frequently+ Eye/Hand/Foot Coordination
• FrequentlyWorking Conditions+ Extreme cold
• Rarely+ Extreme heat
• Rarely+ Humidity
• Rarely+ Wet
• Rarely+ Noise
• Occasionally+ Hazards
• Rarely+ Temperature Change
• Rarely+ Atmospheric Conditions
• Rarely+ Vibration
• RarelyThank you for your interest in Albany Medical CenterAlbany Medical Center is an equal opportunity employer.

This role may require access to information considered sensitive to Albany Medical Center, its patients, affiliates, and partners, including but not limited to HIPAA Protected Health Information and other information regulated by Federal and New York State statutes.

Workforce members are expected to ensure that:

Access to information is based on a "need to know" and is the minimum necessary to properly perform assigned duties.

Use or disclosure shall not exceed the minimum amount of information needed to accomplish an intended purpose.

Reasonable efforts, consistent with Albany Medical Center policies and standards, shall be made to ensure that information is adequately protected from unauthorized access and modification.

Thank you for your interest in Albany Medical Center?Albany Medical is an equal opportunity employer.

This role may require access to information considered sensitive to Albany Medical Center, its patients, affiliates, and partners, including but not limited to HIPAA Protected Health Information and other information regulated by Federal and New York State statutes.

Workforce members are expected to ensure that:

Access to information is based on a "need to know" and is the minimum necessary to properly perform assigned duties.

Use or disclosure shall not exceed the minimum amount of information needed to accomplish an intended purpose.

Reasonable efforts, consistent with Albany Med Center policies and standards, shall be made to ensure that information is adequately protected from unauthorized access and modification.

Albany Med is the centerpiece of medicine, research, and medical education in New York's CapitalRegion and is the area's largest private employer with more than 10,000 employees.

Albany Med offers excellent career opportunities in a wide range of roles in both patient care andadministration.

We value all our staff members and offer outstanding employee benefits including:

• Excellent health care coverage ) with lower copays at most Albany Med providers. A wide array of services and programs to support emotional, physical, and mental wellbeing ) Anchored in the state's historic capital city, Albany Med offers a full range outpatient and inpatient careand is home to the region's largest hospital, only Level 1 trauma center, and only children's hospital. Thedowntown campus also offers opportunities at Albany Medical College.

Albany Med partners with Columbia Memorial Health, Saratoga Hospital and Glens Falls Hospital to form the Albany Med Health System, serving more than three million people over 25 counties.