Finance Operations Analyst

At CVS Health, we’re building a world of health around every consumer and surrounding ourselves with dedicated colleagues who are passionate about transforming health care.

As the nation’s leading health solutions company, we reach millions of Americans through our local presence, digital channels and more than 300,000 purpose-driven colleagues – caring for people where, when and how they choose in a way that is uniquely more connected, more convenient and more compassionate. And we do it all with heart, each and every day.

A Brief Overview
The candidate will join a financial operations team within CVS Health and be responsible for executing the day to day responsibilities related to ensuring complete and timely reimbursement from pharmaceutical manufacturers for certain pharmacy claims billed to Medicare.  The candidate will contribute to establishing reporting and achieving desired financial targets by ensuring accurate posting of AR and driving efficient and comprehensive collections with swift identification of exceptions and decisive actions to achieve our KPIs. 

What you will do

• Execute day to day AR management operations for assigned accounts, including accurate recording and posting of AR, ensuring timely and comprehensive collections, driving efficient and timely payment posting, and ensuring swift identification of exceptions while driving the best actions for resolution. 
• Communicate and work to resolve payment issues with internal and external (manufacturer/CMS) contacts.
• Identify and classify variances, work to establish root cause and recommend and execute steps for resolution.
• Extensive work using Microsoft Excel, enterprise accounting platforms (SAP), and large data repositories.   
• Perform detailed manual calculations, large standard payment reconciliations, and thorough historical payment research projects.
• Develop a deep understanding of relevant industry dynamics and stay on top of changing trends or future updates. 
• Contribute to the optimization of workflows and to driving efficiency. 
• Provide updates to leadership on performance, issues, and achievements within assigned accounts. 

• Stays informed about industry trends, changes in healthcare regulations, and advancements in revenue cycle management practices.

For this role you will need Minimum Requirements

• Minimum 2 years related work experience (Finance, Analytics, etc.)
• Basic awareness of problem solving and decision-making skills
• Adept at collaboration and teamwork

Education

• Bachelor's degree preferred/specialized training/relevant professional qualification.

Preferred Qualifications

• Healthcare/pharmacy industry experience and knowledge of pharmaceutical products.
• Experience with collections, cash reconciliation, and issue resolution and/or settlement negotiation.
• Experience driving continuous improvement in a complex environment. 
• Experience working within large datasets including SQL, Tableau, MS Excel, etc.

Anticipated Weekly Hours

40

Time Type

Full time

Pay Range

The typical pay range for this role is:

$43,888.00 - $102,081.00

This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls.  The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors.  This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. 
 

Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.

Great benefits for great people

We take pride in our comprehensive and competitive mix of pay and benefits – investing in the physical, emotional and financial wellness of our colleagues and their families to help them be the healthiest they can be. In addition to our competitive wages, our great benefits include:

• Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.

• No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.

• Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family le