Principal Healthcare Analyst - Trends & Projections

Blue Cross Blue Shield - Eagan, MN

Full-time - Senior

Hybrid - Eagan, MN

1,001-5,000 employees

Insurance Carriers and Related Activities

About the position

The Principal Healthcare Analyst at Blue Cross Blue Shield of Minnesota is responsible for supporting trend analysis initiatives by applying advanced analytics to various business questions and initiatives. This role involves analyzing healthcare trends, developing financial models, and collaborating with cross-functional teams to provide actionable insights that drive strategic decisions. The analyst will lead efforts to clarify requirements, analyze complex data, and present meaningful results to stakeholders, ultimately contributing to the organization's goal of improving health for its members and the community.

Responsibilities

• Analyze and project healthcare trends using historical and future data.
• Develop and maintain financial models, including savings and projection models.
• Support rate setting for groups by providing expected and anticipated trends.
• Query, analyze, and present data to various audiences, including sales, marketing, finance, and executive leadership.
• Identify opportunities and monitor the performance of Affordability of Care (AOC) initiatives.
• Collaborate with the Actuarial team on rate setting and financial analysis.
• Use multiple data sources for analysis and dissemination of information.
• Perform complex analysis of data and apply statistical methods when appropriate.
• Identify issues to be researched and estimate potential impact opportunities.
• Lead teams to develop analytic approaches, measurement plans, data analysis, and report results on healthcare utilization, expenditures, outcomes, and benchmarks.
• Initiate actions to discover new analyses that will contribute to the strategic needs of the organization.
• Work with leadership to interpret the impacts of proposals using relevant data sources and analytic methods.
• Drive the implementation of new products and systems by providing actionable information and recommendations.
• Represent the division on corporate projects and may have leadership roles on these teams.
• Independently manage issues that may arise on multiple tasks or projects with limited management involvement.
• Act as a resource and/or mentor for other members of the department and company on business issues.

Requirements

• 7+ years of related professional experience.
• 5 years experience analyzing and modeling data involving outcomes and utilization, using various statistical software and computer programming (SAS, Visual Basic, DB2, Oracle, etc.).
• Proficiency in Microsoft software applications such as Word, PowerPoint, Excel, Access.
• Demonstrated ability to design, evaluate and interpret complex data sets.
• Demonstrated ability to handle multiple tasks with competing priorities.
• Demonstrated analytic and problem-solving skills.
• Excellent written and verbal communication skills, with the ability to interpret and communicate analytical information clearly.
• Demonstrated ability to present complex technical information to non-technical audiences and senior decision-makers.
• Demonstrated ability to work effectively both independently and in a team setting.

Nice-to-haves

• Bachelor's Degree or Master's degree in Finance, Economics, Healthcare Administration or related field.
• Actuarial experience is a plus.
• Extensive experience in financial modeling, specifically in developing savings and projection models.
• Strong technical skills in SAS, SQL, R, and Python.
• Experience in healthcare analytics, particularly in medical and pharmacy claims.
• Proficient with Power BI Service for creating, sharing, collaboration, and managing reports and dashboards.

Benefits

• Health insurance coverage
• 401k retirement savings plan
• Paid holidays
• Flexible scheduling
• Professional development opportunities