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Sr Financial Analyst HHC
Oak Brook, IL
Job Description
Major Responsibilities:
Education/Experience Required:
Knowledge, Skills & Abilities Required:
Physicial Requirements and Working Conditions:
This job description indicates the general nature and level of work expected of the incumbent. It is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities required of the incumbent. Incumbent may be required to perform other related duties.
- Performance of accurate and timely financial analyses of new or existing lines of business, pricing strategies, organization change initiatives, Medicare cost reimbursement methodologies, managed care contracts, compensations, staffing and facility strategies, acquisition/divestiture efforts, etc. for the Home Care Division.
- 1)Accurate appropriate financial, marketing, and operational data to assess the financial feasibility of the program.
- 2)Develop the appropriate financial model which will best analyze the potential of the program which includes profit/loss statements, internal rates of return, and potential cash flows.
- 3)Prepares written reports on findings with appropriate data and documentation to justify recommendations and conducts clear, professional presentations on findings to appropriate levels of management of the Division which will assist them in making an informed business decision.
- Performance of timely and accurate preparation and analysis of the annual Financial Planning processes for the Home Care Division.
- 2)Prepares the annual Budget/5 Year Plan to accurately project the financial results for the Home Care Division. Develops and prepares reports which can be utilized by Home Care Division Management which will assist them in the development of their departmental budgets. Conducts Budget planning sessions with the appropriate managers to develop departmental budgets. Ensures that budget data is loaded in the DDA system, allocating budgeted amounts on a monthly basis when necessary. Develop salary model for budgeting all Clinical Salaries based on productivity, staffing ratios, visits, etc., and ensures that all salary information (Clinical and Non-Clinical) is properly loaded into the Transition system to accurately budget for the Divisions salaries. Prepares all Divisional budgets, which includes but is not limited to, Fringe Benefits, Depreciation, Insurance, Interest Expense, Investment Income, and Home Office Allocation. Loads base data into ENUFF to forecast the 5 Year Plan, adjusting for future changes in payor mix, reimbursement rates, inflation, etc. Prepares final budget presentation for Advocate Senior Management. Prepares and distributes budget books to Home Care Division Management that includes operating revenue and expense budget, FTE's, salary budget, and capital budget.
- 1)Prepares the annual forecast to accurately project the current year, financial results and compares against the current year budget. Reviews current year statistics and trends to determine if they will continue. Contacts appropriate Home Care Division Management when necessary. Develops models to easily incorporate changes in major statistics and trends into forecast to present the adjusted financial results. Prepares final forecast presentation for Advocate Senior Management. Reviews the Division's and Corporation's Strategic plans to ensure resources are allocated appropriately.
- Assist in the development, implementation, management, and assessment of Activity Based Cost Accounting applications in order to more appropriately evaluate the financial performance of new or existing lines of business for the Home Care Division.
- 1)Evaluate and assist in the selection of cost accounting software to appropriately evaluate the financial performance of the division.
- 2)Determine the most applicable activities to monitor/measure for each business segment and develop methods and tools to gather the required information as efficiently as possible utilizing technology.
- 3)Analyze the various business segments to ensure accuracy, consistency, and appropriateness of data to ensure a thorough and fair examination as each segment is performed.
- 4)Prepares written reports on findings with appropriate data and documentation to justify recommendations and conducts clear, professional presentations on findings to appropriate levels of management of the Division which will assist them in making an informed business decision.
- Assist in the development and implementation of a means of gathering and comparing financial performance indicators from benchmarking organizations, publicly traded companies, and other available industry data to identify significant areas for financial improvement of the division.
- 1)Establish key financial performance indicators which will point out significant areas of the division.
- 2)Work with Operating Management to determine for each business segment key competitors with whom comparisons to financial performance indicators would be meaningful.
- 3)Gather information on key competitors utilizing the Freedom of Information Act, surveys, Advocate Support Center Planning and Marketing staff, etc.
- 4)Prepare reports on comparisons and recommend areas for additional investigations.
- Assist in the gathering of all information needed for the annual cost reports.
- 1)Work with ASC reimbursement staff to determine information required, flow of information, and appropriate time frames for information required for the Medicare and Medicaid Cost Reports.
- 2)Work with ASC reimbursement staff to insure proper models are in place to forecast or budget for allowances on a monthly basis for the Divisions.
- Assistance in special projects, including but not limited to, evaluation of the Division's Balance Sheet, Cash Flow forecasting, and attendance at meetings as assigned by the manager.
- 1)Assists in the evaluation of the Division's Balance Sheet by developing reports which may be used ongoing which will point out trends and areas for investigation.
- 2)Assists in Forecasting the division's cash flow, utilizing historical information from the Advocate Support Center Treasury Department and projecting any future financial plans to insure adequate cash reserves are established.
- 3)Performs periodic audits of facility petty cash and resident funds accounts.
- 4)Attend, lead, and/or actively participate in task force committees, CQI process teams, or meetings as assigned by the manager.
Education/Experience Required:
- Bachelor of science in accounting, Finance business administration. 3-5 years experience in health care in an analyst position.
Knowledge, Skills & Abilities Required:
- Advanced PC soft (Microsoft Office Excellent oral/written communication skills. Excellent analytical skills. Results orientation/initiative. Ability to work independently with minimal support. Ability to identify and set priorities, as well as multiple high priorities. Ability to identify and seek assistance from other available resources. Ability to make decisions within specific scope position.
- N/A
Physicial Requirements and Working Conditions:
- N/A
- N/A
This job description indicates the general nature and level of work expected of the incumbent. It is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities required of the incumbent. Incumbent may be required to perform other related duties.
Job Summary
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
Bachelor's Degree
Required Experience
3 to 5 years
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