Financial Analyst

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) SERVEDRefer 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

• 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 fo