Financial Analyst, 340B Program

Valley Health Partners - Allentown, PA

Full-time - Mid Level

Allentown, PA

About the position

The Financial Analyst for the 340B Program at Valley Health Partners is responsible for overseeing the inventory purchasing process and ensuring compliance with program requirements. This role involves building reports to monitor program eligibility and effectiveness, representing the organization in audits, and identifying opportunities for improvement and cost savings within the 340B Program.

Responsibilities

• Oversee aspects of the inventory purchasing process for pharmacies and clinics.
• Monitor ordering processes and integrate current pricing from wholesalers.
• Analyze invoices, shipping, and inventory processes.
• Comply with track-and-trace legal requirements of the Drug Supply Chain Security Act.
• Develop a thorough understanding of split-billing/third party administrator systems.
• Educate others involved in the purchasing process to ensure proper operation and compliance.
• Review referral claims to determine eligibility for 340B drug savings.
• Use tools to monitor prescription, patient, hospital, payer data, and ICD-10 codes.
• Summarize and report results to appropriate individuals.
• Develop reports to educate staff and assist management in tracking financial impact.
• Maintain compliance and audit reports for the 340B Program.
• Assist leadership in developing financial metrics for improvement.
• Monitor and analyze contract pharmacy 340B activities and make recommendations.
• Perform gross financial analysis for covered entities and recommend improvements.
• Track financial impact over time and identify root causes of adverse trends.
• Review and refine monthly 340B cost savings reports.
• Represent VHP in all 340B Program audits and ensure compliance with requirements.
• Evaluate patient eligibility for qualified and non-qualified patients.
• Develop relationships with other departments to improve program efficiency.
• Provide data and reports for other areas within the organization.
• Assess opportunities for cost savings and system improvements.
• Analyze past and present financial data and performance.
• Create financial models to inform forecasts.

Requirements

• Bachelor's degree in accounting, finance, healthcare administration, or a related field.
• Master's degree preferred.
• Two years of 340B and/or financial analyst experience required.
• Strong understanding of 340B Programs.
• Strong knowledge of MS Office applications including Excel.
• Well organized, detail-oriented, and able to prioritize tasks.
• Effective verbal and written communication skills.
• Ability to handle multiple tasks and meet deadlines.
• Ability to maintain confidentiality and use discretion.

Nice-to-haves

• Experience with healthcare administration or finance in a clinical setting.
• Familiarity with ICD-10 coding.

Benefits

• 403(b) matching
• Paid holidays
• Disability insurance
• Health insurance
• Dental insurance
• Tuition reimbursement
• Paid time off
• Employee assistance program