Financial Analyst II: Provider Business Services

Akron Children's Hospital - Akron, OH

Full-time - Mid Level

Akron, OH

Hospitals

About the position

The Financial Analyst II position at Akron Children's Hospital is a full-time role focused on providing financial support for provider contracting, policy development, and the continuous improvement of compensation plans for physicians and Advanced Practice Providers (APPs). This role is essential in ensuring that the financial operations align with the organization's goals and healthcare reimbursement models. The analyst will actively participate in various committees and collaborate with department directors, managers, staff, medical staff, and administrative team members to achieve departmental objectives. In this position, the Financial Analyst will monitor and administer provider compensation programs, ensuring they align with organizational goals and comply with healthcare reimbursement models. The role involves understanding compensation and productivity benchmark reporting, providing management with appropriate reports, and tracking the productivity of physicians and providers. The analyst will also participate in reviews to ensure that all compensation and bonus programs are competitive in the market, utilizing analysis and benchmarking while adhering to regulatory requirements. Additionally, the Financial Analyst will monitor changes in federal and state laws related to work Relative Value Units (wRVUs) and productivity, assessing their impact on the organization. The role includes providing support to managers in preparing the annual operating and capital budgets concerning provider compensation and ensuring compliance with financial policies and procedures. Other duties may be assigned as necessary to support the department's financial operations.

Responsibilities

• Monitors and administers provider compensation programs to align with organization and healthcare reimbursement models.
• Understands compensation and productivity benchmark reporting and provides appropriate reports to management.
• Responsible for tracking and reporting the productivity of physicians/providers.
• Participates in reviews to ensure all compensation and bonus programs are market competitive through analysis and benchmarking, complying with regulatory requirements.
• Monitors changes in federal and state law related to wRVUs and productivity and assesses the impact on the organization.
• Provides support in facilitating and assisting managers in the preparation of the annual operating and capital budgets regarding provider compensation.
• Ensures compliance with financial policies and procedures.
• Performs other duties as required.

Requirements

• Bachelor's degree required; Bachelor's degree in business or healthcare administration preferred.
• Master's degree in business or healthcare administration is preferred.
• Minimum of two years of relevant experience with a Master's degree or five years of relevant financial analysis experience is required.
• Proficiency in MS Office (Outlook, Excel, Word) or similar software is required.
• Proven ability in financial analysis and accounting methodologies is required.
• Strong knowledge of the healthcare revenue cycle is required.
• Experience with Physician Practices is preferred.