Job Title/Position: Home Health Financial Analyst
Position Summary: A Home Health Financial Analyst s responsible for supporting the financial operations of the Company on a consolidated basis and on an individual business unit level. This role involves analyzing financial data, preparing reports, and providing recommendations to improve the financial health of the organization. The position requires strong analytical skills, attention to detail, competency in building spreadsheets and an understanding of healthcare finance, especially within the home health sector.
ESSENTIAL JOB FUNCTIONS/RESPONSIBILITIES
Financial Analysis & Reporting:
o Assist the Financial Planning and Analysis Analyst in the preparation of monthly, quarterly, and annual financial reports, including budgets, forecasts, and financial performance metrics.
o Analyze revenue and expenses, identify trends, and suggest strategies to improve profitability.
o Work with the VP of Managed Care to provide analytical support on payer profitability and cost of care.
Budgeting & Forecasting:
o Assist in the preparation and management of annual budgets.
o Assist in forecasting revenue and expenses for the Company on a business unit level, adjusting for changes in patient volume, service mix, or reimbursements.
o Track variances between actual and budgeted financial performance.
Cost Management:
o Analyze costs associated with patient care, including labor, supplies, and operational expenses.
o Identify cost-saving opportunities without compromising care quality.
o Work with Company Regional Presidents to provide productivity and analytical support impacting cost of care variables.
Reimbursement & Compliance:
o Assist in understanding and analyzing reimbursement models such as Medicare, Medicaid, and private insurance.
o Provide analytical support to billing departments to resolve discrepancies in payments and claims, as needed.
Financial Modeling:
o Build and maintain financial models to assess the financial viability of new services or programs.
o Evaluate the impact of proposed changes in care delivery or patient volume on financial outcomes.
Collaboration & Communication:
o Work closely with Finance team, Executive management and clinical leadership to provide financial insights and support decision-making.
o Assist in the presentation of financial findings to senior leadership and support the Financial Planning and Analysis Analyst in the recommendation of actions based on the analysis.
POSITION QUALIFICATIONS
1.Bachelor's degree in Accounting or Finance.
2.Minimum three years’ experience in financial analysis preferably in-home care or home health settings
3.Proficiency in financial analysis knowledge required.
4.Demonstrated ability to analyze large volumes of data and identify trends, problems, and opportunities for improvement
5. Knowledge of healthcare reimbursement policies, including Medicare, Medicaid, and private payers. Knowledge of home health operations and healthcare regulations is highly beneficial.
6.Demonstrates good communications and public relations skills.
SKILLS REQUIRED
1.Detail-oriented with a high level of accuracy in work.
2.Ability to work independently and as part of a team.
3.Strong organizational and time management skills, with the ability to manage multiple priorities.
4.Ability to work under pressure and meet deadlines.